The global Infant Incubator market was valued at USD 296.98 Million in 2020 and is projected to reach USD 659.36 Million by 2028, growing at a CAGR of 5.14% from 2021 to 2028.
An infant incubator is equipment common to birthing centers, pediatric hospitals, and neonatal intensive care units.
The birth rate of premature infants with lower birth weights and other defects is increasing. For instance, according to WHO, every year around 15 million infants are born preterm which is likely before 37 weeks of gestation. Also, an increase in the number of establishments of NICU units and expansion in knowledge among individuals concerning neonatal care further drive the infant incubator market growth. Furthermore, continuously increasing investments and technological advancements are offering several opportunities to key players to meet the untapped demand for the infant incubator further propelling the growth of the infant incubator market.
- The Neonatal Intensive Care Unit (NICU) Incubator segment of product segment, for the infant incubator market, is anticipated to grow at the fastest CAGR over the forecast period owing to an increase in the number of birth of premature infants with low birth weight and some other defects.
- The Genetic defects segment of the application segment, for the infant incubator market, is projected to be the dominating segment for the application segment followed by the low birth weight segment, owing to the presence of a huge base population of children with genetic defects or low birth weight suffering from genetic disorders.
- North America is expected to grow at the fastest CAGR of over 8.12% from 2021 to 2028. This surge is attributed to the rising demand for infant incubators followed by the increasing number of end-users like Pediatric Hospitals, Birthing Centers, Neonatal Intensive Care Units, Others.
COVID-19 Impact Analysis
The wise spread COVID-19 outbreak has impacted several industries including Infant Incubator. Governments across the globe compel to employ stringent restrictions such as lockdown, international border seals, and implementing strict social distancing measures. This forces serval industry to opt for work from home which in turn disrupted the business processes. However, after mid-2021 the world is witnessing the reopening of trading activities, business operations which is expected to stimulate economic growth during upcoming years.
Global Infant Incubator Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
The report delivers an acute breakdown of the market based on various segments such as Product, Application, End-User, and region. The report will cover market estimations and forecasts for each segment by region for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report.
The global Infant Incubator market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Infant Incubator market are General Electric Company, Atom Medical Corporation, Natus Medical Incorporated, Bistos Co., Ltd., Medicor Elektronika Zrt., Fanem Ltd, Inspiration Healthcare Group plc, Phoenix Medical Systems, Drägerwerk AG, Cobams plc.
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