Adoption of fetal and neonatal heart monitors in Asia Pacific continues to be influenced by rising infant mortality rates and high prevalence of malnutrition, finds a new Fact.MR study. Growing focus among government and private players on improving the health infrastructure, combined with aid by global institutions is likely to create an upsurge in demand for fetal and neonatal heart monitors in Asia Pacific.
Demand for fetal and neonatal heart monitor has witnessed a significant growth in Asia Pacific due to growing number of NICU (Neonatal Intensive Care Unit) admissions in this region. With advancements and wide applications of monitoring technologies in NICUs, Asia Pacific will possibly be a lucrative market for fetal and neonatal heart monitor in the coming years. In a recent study by Fact.MR on fetal and neonatal heart monitor market for the period 2018-2028, opening of new NICUs in developing countries like India is likely to create potential growth opportunities for this market in Asia Pacific region.
False readings, misled diagnosis, and treatment associated with conventional fetal and neonatal heart monitor have been overcome by technological innovations and novel solutions offered by key manufacturers. These solutions facilitate interpretation of heart rate of the fetus to prevent hypoxia and care for such complications in an expensive way. According to the Fact.MR’s study, these factors are estimated to influence the growth of fetal and neonatal heart monitor market in Asia Pacific.
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Apart from Asia Pacific, the global outlook of the fetal and neonatal heart monitor market is likely to remain positive throughout the forecast period. Overall sales growth of the global fetal and neonatal heart monitor market has been envisaged to 261,000 units in 2018, with escalating adoption in North American countries. In terms of revenue, the market is expected to expand at a healthy CAGR of 5.5% during the forecast period. On the basis of end-users, hospitals account for the highest share in the global fetal and neonatal heart monitor market, while the demand also remains significant in neonatal clinics. Additionally, due to cost effectiveness and workforce familiarity, table top devices for fetal and neonatal heart monitor are more preferred in hospitals and neonatal clinics than portable and handheld devices.
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By fetal and neonatal heart monitor device type, cardiotocographs will be the leading revenue contributor with global sales reaching a value of nearly US$ 400 Mn in 2017. For accurate identification of fetal well-being during labor, many healthcare professionals have recommended intrapartum fetal heart rate monitor which will in turn impact the market growth to a great extent.
Although global fetal and neonatal heart monitor market is anticipated to witness a steady growth during the forecast period, challenges regarding false results and performance of the devices are likely to hamper this growth. Overcoming false readings in detecting certain metabolic disorders and developing highly accurate fetal and neonatal heart monitor by market participants can leverage growth opportunities of this market. The Fact.MR report concludes that the manufacturers are focusing on their research and development to launch efficient products and create differentiation in the market.
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