Global Fetal Monitoring Market Forecast 2024-2033: Estimated Market Size And Growth Rate
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How Much Growth is Expected for the Fetal Monitoring Market from 2024 to 2033?
The market for fetal monitoring has experienced substantial expansion in recent years, raising from $3.63 billion in 2023 to an estimated $3.91 billion in 2024, with a compound annual growth rate (CAGR) of 7.5%. This significant increase during the historical period can be traced back to factors like the rise in maternal age, the high frequency of complications during pregnancy, greater awareness and focus on prenatal care, government efforts towards improving maternal and child health, and a surge in the rates of cesarean sections.
The market size for fetal monitoring is projected to experience considerable growth in the upcoming years, increasing to $5.31 billion in 2028 with a CAGR of 7.9%. The projected growth in the forecast period can be linked to the increase in high-risk pregnancies, trends in telehealth and remote monitoring, emphasis on non-intrusive monitoring solutions, collaborations for R&D, and a patient-focused approach in prenatal care. The key trends expected in the forecast period encompass wireless and wearable fetal monitoring devices, incorporation of artificial intelligence (AI) in fetal monitoring, services for remote fetal monitoring, concentration on non-intrusive monitoring technologies, and portable and handheld fetal monitoring devices.
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What Factors Are Encouraging Growth in the fetal monitoring Market?
The growth of the fetal monitoring market is largely driven by the increasing occurrence of preterm births. A preterm birth, defined as the birth of an infant before the completion of the 37th week of gestation, is a primary cause of infant mortality and disability. Healthcare professionals thereby use fetal monitoring devices to continually track the mother’s contractions, the fetal heart rate, and other vital statistics. This data helps them to make crucial decisions throughout the birthing process. The ascending trend of premature deliveries has resulted in the high demand for these monitoring devices in hospitals and clinics. As an example, the World Health Organization, a health agency of the United Nations based in Switzerland, stated in their November 2022 factsheet that an estimated 15 million premature births are expected annually. This translates to over one in every ten newborns. Consequently, the high incidence of preterm births propels the expansion of the fetal monitoring market.
Which Segments Play a Vital Role in the Fetal Monitoring Market?
1) By Product: Ultrasound Devices, Electronic Maternal Or Fetal Monitors, Uterine Contraction Monitor, Fetal Electrodes, Fetal Doppler Devices, Telemetry Devices, Accessories And Consumables, Other Products
2) By Method: Invasive, Non-Invasive
3) By Application: Intrapartum Fetal Monitoring, Antepartum Fetal Monitoring
4) By End-User: Diagnostic Laboratories, Hospitals And Clinics, Other End-Users
What Trends Are Driving Change in the Fetal Monitoring Market?
Leading firms in the fetal monitoring market are introducing innovative technologies like AI-based fetal evaluation systems to cater to a larger clientele, augment sales, and boost revenue. AI-based fetal evaluation platforms employ AI mechanisms and computational methods to analyze and decipher data pertaining to fetal health during pregnancy. For example, in August 2023, PeriGen Inc., a US-based supplier of perinatal software solutions, debuted the LaborWatch platform. This platform distinguishes itself as a game-changer that enhances in-labor patient safety by quickly and transparently alerting hospital authorities about consistent worsening trends among laboring patients across their hospital or healthcare system. Powered by PeriWatch Vigilance, the sole AI-based maternal-fetal early warning system in the U.S, LaborWatch independently detects unusual patient conditions and transfers alerts to the hierarchy within a specified timeframe. Once the predetermined time limit is met, chosen hospital executives receive instantaneous alerts, enabling immediate clinical response and guaranteeing that the most severe cases are suitably escalated up the hierarchy. This efficient process ensures hospital heads are instantly updated about crucial scenarios, thereby positioning LaborWatch uniquely with its efficient and distinctive strategy.
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What Regions Are Contributing Significantly to the Growth of the Fetal Monitoring Market?
North America was the largest region in the fetal monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global fetal monitoring market report forecast period. The regions covered in the fetal monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Fetal Monitoring Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the fetal monitoring market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Fetal Monitoring Market Include
1. Fetal Monitoring Market Executive Summary
2. Fetal Monitoring Market Segments
3. Fetal Monitoring Market Size And Template Market Growth Rate
4. Key Fetal Monitoring Market Trends
5. Major Fetal Monitoring Market Drivers
……
25. Key Mergers And Acquisitions In The Fetal Monitoring Market
26. Top Fetal Monitoring Companies
27. Fetal Monitoring Market Opportunities And Strategies
28. Fetal Monitoring Market, Conclusions And Recommendations
29. Appendix
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