Global Fetal Monitoring Market Retains Robust Growth—Projected to Reach worth USD 5.3 Billion in 2027
Published | 24 August 2021
A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting revealed that the global fetal monitoring market was worth USD 3.2 billion in 2020 and is further projected to reach USD 5.3 billion by 2027, at a CAGR of 7.6% during the forecast period (2021-2027). The fetal monitoring market has grown dramatically in recent years as a result of rapid technology improvements and increased awareness regarding maternal and fetal health. Additionally, the rise in the number of ectopic pregnancies, post-term pregnancies, and premature delivery cases, is also assisting in driving the growth of the market. Fetal monitoring systems include uterine contraction examination devices, fetal heart rate, and fetal movement detection equipment, all of which are necessary for prenatal care, thereby making them popular among obstetricians.
Government initiatives and rising awareness regarding fetal and maternal health propelling the market
The increased awareness regarding fetal and maternal health, which includes both pre-and post-partum care, has greatly accelerated the growth of the fetal monitoring market. Additionally, the rise in various physiological disorders in infants and fetuses has also led to the growth of the fetal monitoring market. Furthermore, both government and non-government healthcare organizations are launching a variety of programs and initiatives to raise awareness regarding fetal and maternal health among the general public, particularly in developing countries. Also, rising manufacturer awareness and their willingness to invest in the development of fetal monitoring systems is greatly accelerating the growth of the fetal monitoring market.
The rise in demand for fetal monitoring during the gestation period is expected to drive the market growth
The surge in the number of preterm births, coupled with technological advancements has led to the growing popularity of fetal monitoring during pregnancy, which is expected to propel the growth of the market in the future. Additionally, a spike in infant hemorrhage rates and an increase in the demand for fetal monitoring supplements are contributing to the growth of the fetal monitoring market. Furthermore, technical improvements such as the introduction of wireless, handheld, and portable goods and technologies have led to an increase in the use of fetal monitoring devices in small maternity clinics, hence boosting the fetal monitoring market.
Global Fetal Monitoring Market by End-User
Based on end-user, the global fetal monitoring market is segmented into hospitals, clinics, and others. Among these,the hospital segment accounted for the largest sharein the fetal monitoring market. The growth of this segment can be attributed to various factors, such as the surge in the number of pregnancy procedures and highly advanced facilities in hospitals. Moreover, non-invasive and doppler procedures have gained favor among obstetricians as a result of technological improvements. Furthermore, the growing number of government campaigns promoting prenatal care, fetal and maternal health, coupled with government funding, have prompted hospitals to install advanced devices and fetal monitoring systems, which in turn is driving the growth of the global fetal monitoring market.
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Impact of COVID-19
The COVID-19-induced pandemic has affected almost every market and the fetal monitoring market is no exception. The global impact of COVID-19 has nodoubt, increased the demand for fetal monitoring systems for monitoring the health of the fetus as well as determining whether the infant is infected with the coronavirus. However, there have been adverse impacts as well, such as the drastic rescheduling of appointments to comply with safety precautions soon after the COVID outbreak, which resulted in a decline in the number of patients in hospitals for fetal monitoring procedures.Furthermore, regions that have been severely affected by COVID-19, had to even cancel fetal monitoring procedures due to new government directives. Hence, the fetal monitoring market has been negatively impacted by the COVID-19 pandemic
The Asia-Pacific fetal monitoring market is growing rapidly
Based on region, the fetal monitoring market can be grouped into North America, Europe, the Asia-Pacific, Latin America, the Middle-East & Africa. The Asia-Pacific inrecent years has presented lucrative opportunities for major manufacturers in the fetal monitoring market. This is due to the growth in awareness about maternal and fetal health due to government initiatives and an increase in disposable incomes. Additionally, the rise inthe number of pregnancy cases and technological enhancements in the field of prenatal healthcare has also contributed to the market growth. Moreover, the Asia-Pacific is the most densely populated region, especially countries like India and China which are the most populated in the world. Hence, owing to the presence of such a huge population, the number of pregnant women in this region is also very high, which directly results in a surge in demand for fetal monitoring systems.
The fetal monitoring market has proved to be very lucrative owing to technological advancements and growing awareness regarding prenatal care. This has attracted many major players in the market. Some of the major companies are Covidien PLC, FUJIFILM SonoSite, Inc., Spacelabs Healthcare, Inc., ArjoHuntleigh, Inc., Siemens Healthcare, GE Healthcare, Neoventa Medical AB, Koninklijke Philips N.V., Natus Medical Incorporated, Huntleigh Healthcare Limited, Bionet Co., Ltd., TRISMED Co., Ltd., Shenzhen Comen Medical Instruments Co., Ltd., The Cooper Companies Inc., Cardinal Health, Inc., and other prominent players.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global fetal monitoring market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global fetal monitoring market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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