Market Size of Canada Fetal and Neonatal Care Equipment Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 7.10 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Canada Neonatal & Prenatal Devices Market Analysis
Owing to the rapid evolution of the market in the use of new technology, medical device companies that are able to launch new innovative equipment will be rewarded with huge benefits. The increasing awareness for neonatal & prenatal care, rising incidence of preterm births, and increased demand for prenatal therapeutics, diagnostics, and monitoring devices are the major factors driving the growth of this market.
However, the rising cost of neonatal care, due to advancements in medical devices, is one of the major factors hindering the market
Canada Neonatal & Prenatal Devices Industry Segmentation
As per the scope of the report, fetal monitoring devices are vital tools that are routinely used in gynecology and obstetrics interventions, to examine fetal health during labor and delivery. Neonatal devices are extensively used in the neonatal intensive care units (NICUs), where complex machines and monitoring devices are designed for the unique needs of newborn babies.
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Canada Fetal and Neonatal Care Equipment Market Size Summary
The Canadian neonatal and prenatal devices market is experiencing significant growth driven by the rapid advancement of technology and increased awareness of neonatal and prenatal care. The rising incidence of preterm births and the growing demand for prenatal therapeutics, diagnostics, and monitoring devices are key factors propelling the market forward. Medical device companies that introduce innovative equipment are likely to reap substantial benefits. However, the escalating costs associated with neonatal care, attributed to these technological advancements, pose a challenge to market expansion. Neonatal monitoring instruments are essential in various hospital settings, including neonatal intensive care units, emergency rooms, and operating theatres, to ensure continuous monitoring of neonates and infants, particularly those born preterm who are more susceptible to infections and require enhanced care.
The market is characterized by the presence of major companies such as Becton, Dickinson and Company, GE Healthcare, Koninklijke Philips NV, Masimo, and Medtronic PLC, which hold significant shares in the fetal and neonatal care equipment sector. These companies employ strategies like agreements, collaborative models, business expansion, and product development to maintain their market positions. Initiatives like the Canadian Preterm Birth Network, supported by the Canadian Institutes of Health Research, aim to enhance neonatal care by developing a pan-Canadian network, further stimulating market growth.
Canada Fetal and Neonatal Care Equipment Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Number of Preterm and Low-weight Births
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1.2.2 Increasing Technological Advancement in Infant and Maternal Care Products
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1.3 Market Restraints
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1.3.1 High Cost Associated with Neonatal Care
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Fetal Care Equipment
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2.1.1.1 Fetal Dopplers
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2.1.1.2 Fetal Magnetic Resonance Imaging (MRI) Devices
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2.1.1.3 Ultrasound Devices
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2.1.1.4 Fetal Pulse Oximeters
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2.1.1.5 Other Fetal Care Equipment
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2.1.2 Neonatal Care Equipment
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2.1.2.1 Incubators
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2.1.2.2 Neonatal Monitoring Devices
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2.1.2.3 Phototherapy Equipment
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2.1.2.4 Respiratory Assistance and Monitoring Devices
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2.1.2.5 Other Neonatal Care Equipment
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Canada Fetal and Neonatal Care Equipment Market Size FAQs
What is the current Canada Fetal and Neonatal Care Equipment Market size?
The Canada Fetal and Neonatal Care Equipment Market is projected to register a CAGR of 7.10% during the forecast period (2024-2029)
Who are the key players in Canada Fetal and Neonatal Care Equipment Market?
GE Healthcare, Siemens Healthineers AG, Koninklijke Philips N.V., Becton, Dickinson and Company and Medtronic PLC are the major companies operating in the Canada Fetal and Neonatal Care Equipment Market.