Growing prevelance of preterm births, congenital birth defects, hemorrhage, and advancements in technology are some of the key factors driving the global fetal monitoring devices market.
Fetal monitoring devices are diagnostic equipment that are used to monitor fetal vital parameters during pregnancy, labor, and delivery. It is primarily used during the first trimester to monitor fetal heart rate and activity. These devices aid in the detection of any diseases or birth defects, the monitoring of fetal health, and the tracking of uterine contractions to ensure the baby’s safe birth.
To know more about the research report, fill out a quick inquiry for a sample report: https://meditechinsights.com/fetal-monitoring-devices-market/request-sample/
Despite a Slowdown in the Demand Owing to Covid-19, the Fetal Monitoring Devices Market Stays Resilient
The Covid-19 Pandemic changed the complete socio-economic landscape in the healthcare Industry. Due to safety reasons, the hospitals had to limit the volume of patients, reducing the fetal monitoring procedures. During the pandemic, healthcare providers delayed or rescheduled fetal monitoring procedures to minimize the risk of patients getting exposed to Covid-19. Hence, during the pandemic, there was a substantial decrease in the number of fetal monitoring procedures. However, in order to overcome these barriers, companies have launched several innovative tools to help monitor pregnant women during COVID-19.
For instance, in June 2020, Philips launched an obstetrics monitoring solution to support clinicians and expecting mothers during the COVID-19 pandemic. The firm launched Avalon CL Fetal and Maternal Pod and Patch which decreases unnecessary physical interactions between clinicians and patients, which is of particular importance during the COVID-19 pandemic.
“Covid-19 has intensified the need for mobile solutions during pregnancy. Remote monitoring especially during labor offers several benefits such as comfort, mobility, and flexibility to expectant mothers.”
– General Manager, Monitoring & Analytics, Health Technology Company, U.S.
Technological Advancements Driving the Fetal Monitoring Devices Drives the Market
The Rising demand for fetal monitoring devices/systems can be attributed to the growing occurrence of cardiopulmonary diseases, post-term pregnancy, multiple pregnancies, preterm births, initiatives taken by the government for the welfare of maternal and fetal health, and new innovations in fetal monitoring devices. For instance,
- In November 2022, Philips announced the global launch of the Ultrasound Compact 5000 series. The system is portable, versatile and offers multiple care settings for different types of examinations with superb image quality
Rising Cases of Preterm Births Fuels Fetal Monitoring Devices Market
One of the Crucial factors which are driving the fetal monitoring devices market is an increase in prevalence of preterm births. The Research Findings indicate that hypertension, hemorrhage, and pregnancies involving multiple babies are significant factors contributing to premature births. The rising number of preterm births has also accelerated the adoption of advanced technology in the fetal monitoring devices market. Technology advancements and rising awareness among the people are propelling the growth of fetal monitoring devices. For instance,
§ In July 2022, Taiwanese tech startup Cubo Ai launched a new product to augment its award-winning Cubo Ai Plus Smart Baby Monitor — the AI Sleep Sensor Pad. The newly introduced feature is designed to identify the baby’s breathing motion
Key Constraints in the Fetal Monitoring Devices Market
The high cost of fetal monitoring devices, along with-it the availability of refurbished monitors in the market, the stringent government policies, and the lack of skilled professionals will be expected to adversely impact the growth of the fetal monitoring devices market in the coming years.
North America Accounts for the Largest Share of the Global Fetal Monitoring Devices Market
North America holds the largest market share of the fetal monitoring devices market. This can be mainly attributed due to rising number of preterm births, increasing maternal age, obesity & smoking, favourable government initiatives related to maternal and fetal health, growing availability of experts and neonatal intensive care units (NICUs), presence of key players and the developed healthcare system in the region. However, it is projected that the Asia-Pacific region will experience the highest Compound Annual Growth Rate (CAGR) during the specified forecast period. Factors such as low-weight births, constant development in the healthcare sector, a rising number of marital-age individuals, an increase in the number of infertility treatments, rise in demand for advanced fetal monitoring devices are some of the key factors driving the Asia-Pacific market.
Competitive Landscape of the Fetal Monitoring Devices
The key players operating in fetal monitoring devices include Medtronic PLC, Koninklijke Philips NV, GE Company (GE Healthcare), and Siemens Healthineers, among others.
Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in the Fetal Monitoring Devices Market
Players operating in this market are adopting organic and inorganic growth strategies such as collaborations, acquisitions, and new product launches to Gain market share. For instance,
- In February 2023, GE Healthcare acquired Caption Health. Captions Health Inc., AI applications combined with G.E. Healthcare’s ultrasound devices will enhance ultrasound imaging, diagnosis, patient care and ultimately reduce the cost
The fetal monitoring devices market is a growing market that is projected to gain further momentum in the coming years due to a strong emphasis on developing new wireless and non-invasive monitors, investment in R&D to introduce several advanced products, and aggressive organic and inorganic growth strategies adopted by the players.
Get Detailed Insights on fetal monitoring devices Market Market @ https://meditechinsights.com/fetal-monitoring-devices-market/
