Journal of Preventive Medicine

It is expected that, the global market for neonatal intensive care could earn an around US$9.0 bn by the final forecast year from 2017 to 2025. In 2017, it secured a revenue valuation of US$5.9 bn. The global home healthcare market size was valued around USD 325 billion in 2019 and is expected to register a CAGR of 8% over the forecast period. According to the report, the global pediatric health care products and services market was valued at around USD 89,000 Mn and USD 525,000 Mn, respectively, in 2018 and is projected to expand at a CAGR of around 4.6% and 5.6%, respectively, from 2018 to 2026. A report based on UNICEF shows that, 415k children in the region die every year before celebrating their fifth birth date. Due to the highly spread of chronic diseases, hospital stay is expensive with average per stay cost being approximately USD 12000 as per The Healthcare Cost and Utilization Project; whereas home healthcare is a costefficient alternative than hospital stays. The only challenge, the pediatric healthcare community faces is in relation to Medicaid funding. While the cost of health care for most children is relatively low, those who require hospitalization or specialty care experience a tremendous increase in total cost. Medicaid funding for children estimates about 20% of total funds, yet children makes up about 60% of enrolees.

Diagnostics equipment accounted for more than 40% of the overall market in 2018 and it is estimated that it will have its growth over the forecast period owing to increasing prevalence of diabetes and cardiac diseases. The global neonatal intensive care market is projected to gain growth on the back of the increasing complications in newborns and the need to detect and monitor them. The increasing number of preemies or swelling occurrence, premature births could be a major factor supplementing the demand for neonatal intensive care. It is expected that it will rise at a CAGR of 6% between 2017 and 2025. About 3% of global healthcare expenditure was estimated by Middle East regions and which is expected to grow continuously.

In Middle East advancement and government initiatives improves healthcare sector about US$ 50 billion in 2017 and expected to reach USD 63.7 billion by 2023 at CAGR of 4.2%. GE Healthcare is holding the leading position in the overall fetal and neonatal care equipment market. Philips Healthcare is considered to be one of the top five players in the global fetal and neonatal care equipment market.

The products of neonatal care equipment market are being used extensively for many purposes. NICU equipment is generally used to take care of sick babies with different problems. There are some factors which the Neonatal care equipment market is primarily driven:

• Increasing birth rate and preterm-birth rate

• Increasing demand for portable equipment

• Incidence and prevalence rate of birth

• Growing healthcare expenditure across geographies

• 30^th World Neonatal, Pediatric and Family Medicine Conference

  March 29-30, 2021

  Dubai, UAE