Asia-Pacific Fetal and Neonatal Care Equipment Market was valued at approximately USD 8,355.50 million in 2020 and is expected to witness a revenue of USD 17,879.18 million in 2026, with a CAGR of 10.48% over the forecast period.
The outbreak of COVID-19 across the world is expected to have an impact on the fetal and neonatal care equipment market. As per ICMR guidelines, 2020, pregnant women are advised to attend routine prenatal checkups at 12, 20, 28, and 36 weeks of gestation unless they meet the self-isolation criteria. For women who have had symptoms of COVID-19, appointments can be postponed until seven days after the start of symptoms, unless they become severe.
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According to an article published in the BMJ Journal, in November 2020, by scientists working in the University of Tokyo, there was a significant decrease in the intensive neonatal care volume across Japanese acute care hospitals during the COVID-19 outbreak. The study also observed a drop in the number of preterm births (before 34 gestational weeks and between 34–37 gestational weeks). However, as the population has begun to cope with the pandemic, regular prenatal checkups and neonatal care is expected to boost, which in turn is expected to significantly impact the studied market.
The key contributors in the market growth are increasing the number of preterm births and the technological advancements coming up in the care equipment. According to the Australian Institute of Health and Welfare, the preterm birth rate showed a slight increase from 8.2% to 8.7%, 2008 to 2018. In addition, the rate of low birth weight babies was approximately 6.7% in 2018. Additionally, according to an article ‘Health at a Glance: Asia/Pacific 2018’ released by the OECD (Organization for Economic Co-operation and Development) and WHO (World Health Organization), on average, 11 newborns out of 100 had low weight at birth across Asia-Pacific countries and territories. There was a significant regional divide between countries in eastern Asia (such as Chinaand the Republic of Korea) and southern Asia (Bangladesh, India, Nepal, Pakistan, and Sri Lanka). China had the lowest low birth weight rate at 2.3% while Pakistan reported a rate of 31.6%.
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