Global Fetal Monitoring Market is expected to foresee significant growth during the forecast period. North America to witness the highest growth
Global Fetal Monitoring Market is expected to reach the market valuation of USD XX million by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from USD XX million in 2020. A diagnostic tool used to monitor the movement and heart rate of the fetus and maternal contractions is known as a fetal monitoring system. It is a fundamental device that is used for monitoring uterine contractions during labor.
The demand for Fetal Monitoring Market is increasing on account of Increasing prevalence of cardiopulmonary diseases, technological advancement such as noninvasive surgeries, increasing government and non-government initiatives for maternal & fetal health over the world. In addition to this, rising manufactures awareness & willingness to invest in the development of fetal monitoring, and increase in the number of post-term pregnancy, multiple pregnancy, and premature delivery cases, are few factors that are driving the global fetal monitoring market.
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The rise in awareness among pregnant women is fueling the growth of Fetal Monitoring Systems. Manufacturers around the world are leveraging the use of technology to innovate new products that are low in cost, also they are promoting the awareness of these products among the high BMI pregnant women. The demand for real-time monitoring data for better birth controls and reduce risks is also contributing to the growth of the Fetal Monitoring Systems Market.
However, some of the restraints in the market are stringent regulatory procedures, low prevalence of birth rates, and high cost of equipment. The advanced technology integrated into fetal monitors comes at a heavy price. Sophisticated monitoring techniques such as Doppler ultrasound machines also incur hefty charges. The probes used in the Doppler technology (for example, the Philips Doppler transducer) range from USD 4,500 to USD 17,000. The SonoScape system from GE Healthcare costs around USD 9,000. These machines also incur maintenance charges, which amount to 15% of the unit’s purchasing cost. The high costs of fetal monitoring equipment can be challenging to low-income nations and low-resource hospitals, thus restraining this market’s growth.
The outbreak of COVID-19 has led to various valuable partnerships among companies, which is anticipated to fuel the market’s growth. For instance, in January 2021, Israel-based Nuvo Group (offering a remote pregnancy monitoring platform) entered into a commercial agreement with Axia Women’s Health, an innovative women’s health network. Under the agreement, Axia Women’s Health will be able to prescribe INVU to expectant mothers, which is expected to reduce the risk of exposure during COVID-19.
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In terms of end user, the global Fetal Monitoring Market is segmented into hospitals, obstetrics & gynecology clinics, and home care settings. Among them, hospitals segment held the largest market share in 2020 and is further projected to maintain its leading position in the market during the forecast period as well owing to strong presence of hospitals across the globe. Moreover, enhanced fetal monitoring devices provided by hospitals coupled with availability of skilled physicians and infrastructure is positively influencing the market growth. Growing deliveries in hospitals and proper facilities and services provided in hospitals are other major factors driving the growth of this segment.
The obstetrics & gynecology clinics segment is anticipated to grow at a significant rate in the future, owing to regular periodic checkups and regular fetal monitoring tests such as fetal heart rate, non-stress test (NST) and contraction stress test (CST). This ensures that fetus is healthy, and pregnancy is not at risk.
Additionally, the report provides detailed initiatives that are being taken in the field of Fetal Monitoring. The market is classified into distinct regions North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), Rest of World has been conducted. North America is found dominating the market as the United States and Canada have well-structured and developed healthcare systems. These countries are found promoting research and development for fetal and neonatal medical devices and hence, have very high expenditures on healthcare. As a result of these policies, many companies globally are encouraged to operate in this region.
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Moreover, most of the population in developed countries like the United States are covered under medical and health insurance and can afford these care units. Hence, the North American region is expected to cover a large share of the neonatal intensive care market. As per the data published by the Centers for Medicare & Medicaid Services (CMS), in the United States, national healthcare spending is projected to grow at an average rate of 5.5% per year during 2018-2027, to reach nearly USD 6.0 trillion by 2027.
Cardinal Health, Inc., Koninklijke Philips N.V., GE Healthcare, Siemens Healthineers, FUJIFILM SonoSite, Inc., Natus Medical Incorporated, Huntleigh Healthcare Limited, The Cooper Companies Inc., CONTEC Medical Systems Co., Ltd., EDAN Diagnostics, Inc. are some of the prominent players operating in the global fetal monitoring market. Several M&A’s along with partnerships have been undertaken by these players to develop new and innovative Fetal Monitoring.
Global Fetal Monitoring Market Segmentation
Market Insight, by Type
- Ultrasound Devices
- Electronic Maternal/Fetal Monitors
- Uterine Contraction Monitors
- Fetal Electrodes
- Fetal Doppler Devices
- Accessories and Consumables
Market Insight, by Portability
- Portable Systems
- Non-portable Systems
Market Insight, by Method
Market Insight, by Application
Market Insight, by End-User
- Obstetrics & Gynecology Clinics
- Home Care Settings
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Cardinal Health, Inc.
- Koninklijke Philips N.V.
- GE Healthcare
- Siemens Healthineers
- FUJIFILM SonoSite, Inc.
- Natus Medical Incorporated
- Huntleigh Healthcare Limited
- The Cooper Companies Inc.
- CONTEC Medical Systems Co., Ltd.
- EDAN Diagnostics, Inc.