Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 23,542.80 million | USD 41,029.65 million | 8.24% | 2021 |
FrequentlyAsked Questions
Several factors will drive the growth of the infant thermostat market in the coming years. With the number of newborns increasing, the devices used to draw blood and monitor babies are growing. More and more companies are focusing on developing social devices so that they can be helped to treat different conditions of babies. It is already aware of the devices available in the market. The soaring birth rate in many parts of the world, especially in emerging countries, is estimated to drive the growth of the neonatal air conditioner market in the coming years.
According to a report, the global neonatal thermoregulation market was worth 23,542.80 (USD million) in 2021 and is predicted to grow to 41,029.65 (USD Million) by 2028, with a compound annual growth rate (CAGR) of about 9.70 percent.
North America is expected to dominate the infant air conditioner market with a well-developed healthcare industry. Government involvement in raising awareness about infant diseases drives the market's growth. For example, the U.S. government has programs such as the Health Resources and Services Administration (HRSA) Genetic Disorders Program and the Screening Quality Assurance Program. Thus, such initiatives and programs from the government and NGOs are supporting the market's growth.
Some of the main competitors dominating the global neonatal thermoregulation market include GENERAL ELECTRIC COMPANY, Natus Medical Incorporated, Inspiration Healthcare Group plc., Koninklijke Philips N.V., Drägerwerk AG & Co. KGaA, Fisher & Paykel Healthcare, International Biomedical, Ltd., Atom Medical Corporation, Fanem Ltda, and Novos Medical Systems.
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