Global sales of fetal and neonatal heart monitors are likely to surpass 261,000 units in 2018, with rising adoption in the US driving sales. Cardiotocographs remain the highest selling fetal and neonatal heart rate monitor devices, with global sales equating to a valuation of nearly US $ 400 million in 2017. Demand continues to remain concentrated in hospitals and neonatal clinics, with the former accounting for a leading share.
The fetal and neonatal heart monitors continue to be driven by efforts to mitigate the number of preterm births. Data from the National Center for Health Statistics shows that the US has a high infant mortality rate among developed economies. The number of deaths by live births also remains in Europe, with governments and healthcare providers in the United Kingdom, France, Germany, and Italy working towards mitigating the numbers.
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The report finds that Asia Pacific excluding Japan (APEJ) wants to emerge as a lucrative market for fetal and neonatal heart monitor manufacturers during the assessment period. Many countries in the region have high-income mortality rates, and there has been a concerted effort by governments and healthcare providers to improve the situation.
Use of fetal and neonatal heart rate monitors is thus growing on account of increases in the number of NICU admissions. The growing applications and deployment of monitoring technologies in NICUs is likely to foster the growth of the fetal and neonatal heart monitor market during the assessment period. The increase in the number of NICUs is thus opening opportunities for key players in the market. The report finds that high birth rate birth in developing countries, as well as has led to the opening of new NICUs, which in turn has created opportunities for the deployment of fetal and neonatal heart monitors.
Although the outlook on the fetal and neonatal heart monitor market remains positive, challenges with performance and false results continue to impede growth. Challenges with wrong heart rate tracking can lead to wrong readings, which in turn can lead to ambiguity. In a bid to address these challenges, manufacturers are focusing on launching innovative and novel products in the market. Philips Avalon has developed smart pulse fetal monitoring technology that uses cross channel verification for accurate results. The manufacturers continue to focus on research and develop differentiation in the market.
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Fetal and Neonatal Heart Monitors that Detect Metabolic Disorders to Opportunity for Market Participants
The report finds that patients have an opportunity of developing fetal and neonatal heart monitors that can diagnose heart rate patterns due to metabolic disorders, such as fetal metabolic acidemia. The fetal and neonatal heart monitors are not completely successful in detecting metabolic disorders, with many instances going undetected. Manufacturers who are able to produce high-quality fetal and neonatal heart monitors in the market can leverage the emerging opportunities in this segment.
Demand for table top fetal and neonatal heart monitor devices is higher than portable and handheld variants. Hospitals and neonatal clinics around the globe prefer to workforce familiarity and cost benefits. The report projects demand for table top devices to be used as portable and handheld devices over the forecast period.
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