Neonatal care equipment market to reach $2.84b by 2030

However, high equipment costs challenge growth.

The global neonatal care equipment market is expected to reach $2.84b by 2030 at a compound annual growth rate of 5.6%, according to MarketsandMarkets.

The sector’s expansion is attributed to rising preterm birth rates, developments in neonatal technology, and increasing government initiatives to reduce infant mortality.

“Growing investments in NICU infrastructure and heightened awareness about neonatal health further fuel demand for incubators, ventilators, and monitoring systems,” the report said.

However, high equipment costs, limited access in low-income regions, and complex regulatory requirements challenge market growth.

“Additionally, the growing preference for refurbished equipment in cost-sensitive markets hampers the adoption of new technologies, particularly in emerging economies with constrained healthcare budgets,” it added.