New Delhi: The global Intrapartum Monitoring Devices market is expected to reach US$ 4.5 Billion by the end of the 2022-2032 forecast period, growing at a CAGR of 6.8%, concludes a recently published report by Fact.MR.
As of 2022, the market is poised to reach US$ 2.3 Billion, yielding a dollar opportunity worth US$ 2.2 Billion throughout the forthcoming decade. Advancements in healthcare technology have pushed sales to new heights.
Demand expanded significantly from 2015 to 2021, registering a growth rate of 7.5% to be valued at US$ 2.2 Billion. Increasing risks and complications such as brain damage, cerebral palsy, newborn seizures, or fetal death during childbirth drive the growth of the market.
In addition, the complications related to preterm birth, intrapartum events such as birth asphyxia, or infections such as sepsis or pneumonia account for newborn deaths fuels the growth of the intrapartum monitoring devices market.
Also, the market is expected to exhibit the fastest growth rate over the forecast period, owing to the demand for improved maternal care and the increasing rate of premature birth complications. These trends are likely to provide traction to the Intrapartum Monitoring Devices market.
Key Takeaways from the Market Study
Global intrapartum monitoring devices market to flourish 0.9x from 2022 to 2032
U.S to emerge as the dominant Intrapartum Monitoring Devices market, reaching US$ 1.6 Billion by 2032
China to be the fastest-growing market, registering a CAGR of 6.1% across the decade
South Korea, U.K & Japan are likely to yield $ opportunities worth US$ 60.1 Million, US$ 76.9 Million, and US$103.7Million respectively
By product, electrodes to register maximum intrapartum monitoring devices usage, growing at a 6.9% CAGR
North America to emerge as the top region, growing at a rate of 7.0% through 2032
“Rising prevalence of birth-related complications and increasing incidence of intrapartum-related neonatal deaths, and continuous R&D activities by key market players for producing innovative products stimulating demand for intrapartum monitoring devices,” remarks an analyst at Fact.MR.
The global market for Intrapartum Monitoring Devices is characterized by the presence of multiple vendors, aiming to offer extensive consulting and integration services to clients. Additionally, enterprises are seeking out, specialized service providers, offering solutions tailor-made to suit their business objectives. In addition, the vendors are likely to leverage up-gradation and product differentiation to gain an edge over other competitors in the market.
In March 2021 — CooperSurgical announced the acquisition of Safe Obstetric Systems, inventor of the patented single-use device, the Fetal Pillow®. The Fetal Pillow is designed to elevate a deeply impacted fetal head without injury during a fully dilated C-section (CSFD). With elevated rates of maternal morbidity and mortality, there is an increased focus on reducing maternal and fetal complications during delivery. In technically challenging clinical situations such as CSFD, the use of the Fetal Pillow may reduce maternal blood transfusion.
In April 2022 – Royal Philips and Oulu University Hospital (Finland) announced a strategic partnership agreement to support the hospital’s ambitious OYS2030 renewal program. The program aims to transform the operations and facilities of Oulu University Hospital to meet the challenges of future specialized care. Philips is providing its latest image-guided therapy solutions and innovations to transform the diagnosis and treatment of patients, as well as maintenance, consultancy and financing services.
In May 2022 – GE Healthcare has an agreement with Pulsenmore, to accelerate global adoption of Pulsenmore’s homecare ultrasound solutions and will also support their goal to pursue U.S. FDA clearance and commercial expansion. GE Healthcare will also partner with Pulsenmore to distribute its products in Europe and other markets to develop ultrasound-based healthcare offerings that cater to the burgeoning homecare market.