Vehicle Electrification Market Size Worth $125.12 Billion By 2025

The global vehicle electrification market is anticipated to reach USD 125.12 billion by 2025, according to a new report by Grand View Research, Inc. The growing demand for electrification in transport automobiles is increasing owing to social influence and acceptability to shift in favor of electrification via lowered usage of petroleum to energy-efficient vehicles. Moreover, regional legislation policies and regulatory efforts globally on strengthening CO2 emissions standard have been immensely contributing to the growth of the market. 

Integrated Starter Generator (ISG) product is expected to gain traction over the forecast period. The application of ISG in the vehicles helps the engine to instant and silently restart after the idle or traffic stop when the engines shut down to reduce emission and save fuel. ISG achieves vibration and noise-reduced operation improving the automobile comfort for the user. Further, ISG optimizes the electric energy by reducing the load of the engine which further drives the content of an electronic solution in the vehicle. The integrated starter generator in the automobile has significant influence to start the engine under extremely low-temperature conditions.

The demand for integrated started generator product type was valued at USD 4.97 billion in 2016 and is expected to reach over USD 11.16 billion by 2025.

The internal combustion engine (ICE) & micro-hybrid vehicle is one of the largest segment in hybridization type. The growth of ICE & micro-hybrid automobiles is attributed to mechanical integration which yields significant fuel economy when it is idle in traffic or at a signal. Moreover, to meet the growing environmental challenges which are posed by several emission legislations automakers have developed various eco-solutions in the conventional ICE.

Increasing user demand for eco-friendly solutions and stringent emission regulations are a few key factors that are expected to impact the growth of internal combustion engine & micro-hybrid vehicles in the market over the forecast period. The internal combustion engine & micro-hybrid vehicle segment is anticipated to grow at a CAGR of 7.8% from 2017 to 2025.

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https://www.grandviewresearch.com/industry-analysis/vehicle-electrification-market

Further key findings from the study suggest:

  • The global vehicle electrification market accounted for USD 58.92 billion in 2016 and is expected to grow at a CAGR of 9.1% from 2017 to 2025
  • Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle emerged as the largest segment in 2016 and is estimated to generate revenue of over USD 70.68 billion by 2025.
  • The BEV hybridization segment is anticipated to witness moderate growth over the next eight years.
  • The electric vacuum pump within the product segment is estimated to reach over USD 17.75 billion by 2025
  • The Asia Pacific market is projected to witness substantial growth over the next decade owing to the growing adoption of vehicle electrification methods among the automobile sector on a large scale. The regional market is expected to grow at a CAGR of 8.5% from 2017 to 2025.
  • Key players include Robert Bosch GmbH, Continental AG, Denso Corporation, Delphi Automotive PLC, Johnson Electric, and Mitsubishi Electric Corporation, accounting for a majority share of the overall market in 2016

Fluid Management & Visualization Systems Market Worth $12.5 Billion By 2027

The global fluid management and visualization systems market size is expected to reach USD 12.5 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.1% from 2020 to 2027.

The fluid management and visualization systems significantly enhance procedural effectiveness. Postoperative and perioperative fluid management has a significant impact on patient outcomes and plays a pivotal role in enhanced recovery pathways (ERPs). Moreover, fluid management and visualization leads to a decrease in complications and a decrease in length of stay (LOS). Thus, preoperative and postoperative fluid management and visualization is as critical as intraoperative management as it offers multiple associated benefits to the patients.

Increase in the minimally invasive and ambulatory procedures involving large volumes of liquids adds stress and inefficiency in the OR. This, in turn, facilitates the adoption of fluid management and visualization systems in the medical settings. According to the study by researchers at the University of Michigan, January 2020, the use of robotic surgery for all general surgery procedures increased from 1.8% in 2012 to 15.1% in 2018.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/fluid-management-visualization-systems-market

Further key findings from the report suggest:

  • North America accounted for the largest revenue share in 2019 owing to well-established healthcare infrastructure, significant investment by market players for novel product development, and increasing prevalence of gynecology, urology, and cardiac conditions
  • By product, the accessories segment dominated the market in 2019 as these products need to be disposed after single use, thus preventing infections and assuring patient safety
  • In terms of application, the urology segment dominated the market in 2019 due to increasing cases of kidney stones and prostate and bladder problems
  • Based on end use, the hospitals segment accounted for the largest market share in 2019 as they conduct larger number of surgical procedures with the availability of novel automated fluid management and visualization systems
  • Market players are adopting several strategies such as significant investment in research and development, product innovation via acquisitions and collaborations, and geographical expansion in developing countries to gain a significant share in the global market.

U.S. Magnetic Resonance Angiography Market Size Worth $2.93 Billion By 2027

The U.S. magnetic resonance angiography market size is expected to reach USD 2.93 billion by 2027, based on a new report by Grand View Research, Inc., expanding at a CAGR of 4.9% from 2020 to 2027. Rising adoption of artificial intelligence (AI) based imaging techniques is expected to contribute to market growth over the forecast period. AI can assist in the detection of abnormal growths, such as tumors. Automatic detection improves the overall patient experience due to faster reporting.

In U.S., around four in ten adults suffer from at least one chronic disease, accounting for around 45% of the total population. Moreover, growing elderly population has given rise to a higher incidence rate of chronic diseases needing better diagnosis, which is anticipated to drive the demand for diagnostic imaging procedures, including magnetic resonance angiography (MRA), in the country. The presence of extensive private and public funding initiatives in U.S. is likely to contribute to market growth. Medicare covers MRI scans ordered by healthcare providers as part of a medical diagnosis.

Some of the patients experience anxiety due to claustrophobia and avoid MRI machines due to fear. Key players such as Philips, Siemens, and Hitachi have launched open bore designs for patients suffering from fear of enclosed spaces. In addition, these companies are offering devices with an audiovisual experience inside the machine to help patients relax while undergoing the procedures. MRI machines use no radiations while diagnosis, unlike CT machines. Hence, demand for MRI and MRA procedures is expected to grow over the coming years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/us-magnetic-resonance-angiography-market

Further key findings from the study suggest:

  • By technique, the non-contrast enhanced magnetic resonance angiography segment dominated the market in 2019 in terms of revenue as it is considered to be a safer alternative for patients who are pregnant or are suffering from kidney disorders
  • The contrast enhanced MRA segment is expected to register the fastest CAGR over the forecast period as they offer a detailed image of the blood vessels as compared to the tissues or organs surrounding them
  • The abdominal MRAs segment is expected to register a maximum CAGR from 2020 to 2027. Abdominal MRAs assist in the assessment and diagnosis of various vascular abnormalities and are performed for the examination of the lymph nodes, blood vessels, blood flow, and to investigate the cause of swelling or pain
  • By end use, the hospitals segment dominated the market in 2019 in terms of revenue on account of increased demand for affordable diagnostic services. The imaging centers segment is expected to register the fastest CAGR from 2020 to 2027.

North America, Europe & Asia Pacific Legal Cannabis Market Worth $67.7 Billion By 2026

The North America, Europe, and Asia Pacific legal cannabis market size is anticipated to reach USD 67.7 billion by 2026, registering a CAGR of 19.6% during the forecast period, according to a new report by Grand View Research, Inc. The increased adoption of hemp and marijuana products coupled with the rising demand for medical marijuana is anticipated to drive the market growth. Furthermore, the impending legalization of marijuana for adult use is an important factor supporting the growth over the forecast period.

Based on product type, marijuana dominated the market with a revenue share of USD 96.6% in 2019. The use of marijuana for medical purposes is gaining momentum owing to recent legalizations in various countries. Marijuana is used for the treatment of patients with chronic conditions such as Parkinson’s disease, cancer, arthritis, Alzheimer’s disease, neurologic problems like depression, anxiety, epilepsy, and others. Thus, wide application of marijuana for the treatment of various chronic conditions is one of the major factors driving the growth of this segment.

Based on application, medical use segment dominated the market with the revenue share of 66.0% in 2019. The medical use of cannabis is legal in a greater number of countries as compared to adult-use, owing to which the segment is expected to remain dominant throughout the forecast period. On the other hand, B2B channels segment is expected to witness the fastest CAGR over the forecast period. The growing use of cannabis and its derivates in various applications areas such as pharmaceuticals, nutraceuticals, personal care and cosmetics, and edibles, is anticipated to boost the demand for these products.

North America dominated the market in 2019 with a revenue share of 91.0%. The early legalization of marijuana for medical and adult-use and the presence of a large customer pool in the region are the key factors driving the market growth. On the other hand, Asia Pacific is expected to be the fastest-growing region, owing to rising awareness regarding the medical and health benefits of cannabis, encouraging the Asian countries to legalize cannabis and its derivatives.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/north-america-europe-asia-pacific-legal-cannabis-market

Further key findings from the study suggest:

  • Marijuana emerged as leading product segment in 2019 with a revenue share of 96.6%, owing to the growing adoption of marijuana for various medical conditions
  • B2B channel is anticipated to be the fastest-growing application segment, owing to the increasing use of cannabinoids for a wide range of industries
  • North America accounted for the largest share, owing to the higher consumption rate due to legal acceptance of cannabis
  • Some of the key players include Aphria, Inc.; Canopy Growth Corporation, Aurora Cannabis, Maricann Group, Inc.; ABcann Medicinals, Inc.; Tilray, The Cronos Group, GW Pharmaceuticals, plc., Organigram Holding, Inc.; and Lexaria Bioscience Corp

Medical Fiber Optics Market Worth $1.3 Billion By 2027

The global medical fiber optics market size is anticipated to reach USD 1.3 billion by 2027, expanding at a CAGR of 5.6%, according to a new report by Grand View Research, Inc. Demand for low-loss fiber optics in surgery and photocoagulation, growing usage of the cable in miniaturized medical devices, and their growing application in endoscopic procedures for imaging and illumination are the key factors driving the market.

The multimode type segment dominated the market with a share of 62.2% in 2019. Increasing adoption of multimode optical cables in the endoscopic surgeries and surgical lighting and the cost-effectiveness offered by the technology are the key factors driving the market growth. On the other hand, the single-mode optical cable type segment is anticipated to witness the fastest growth rate owing to the on-going research and development of sensors based healthcare devices.

Illumination application dominated the market in 2019, with a share of 31.1%. Usage of the optical cables in phototherapy and areas such as skin treatment, tattoo, and hair removal, where it is used as a prominent source of illumination, are the key factors driving the segment growth. On the other hand, biomedical sensing application is anticipated to witness the fastest growth rate owing to its increasing adoption in sensors and healthcare instruments.

North America dominated the market in 2019, with a share of USD 29.4%. High prevalence of cancer and other chronic disorders, acceptance of endoscopy as a standard procedure for detecting internal disorders and increasing adoption of technologically advanced products are the key factors driving the market growth. The Asia Pacific region is anticipated to witness the fastest growth rate owing to the increasing demand for innovative medical devices and the rising number of minimally invasive procedures.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/medical-fiber-optics-market

Further key findings from the report suggest:

  • The multimode type segment dominated the market in 2019 with a share of 62.2%, as they are more cost-effective
  • Illumination application dominated the market with a share of 31.1% in 2019, owing to high adoption in surgical lighting
  • North America dominated the market in 2019 a share of 29.4%, owing to the high prevalence of cancer and other chronic disorders.

Smart Elevator Market To Grow At A CAGR Of 14.8% From 2015 To 2022

Global smart elevator market was estimated to be USD 10.50 billion in 2014 and is expected to witness significant growth on account of its increasing adoption in emerging economies of Asia Pacific, Middle East and Latin America. Safety, reliability and longer durability is expected to drive growth.

Increasing requirement for faster vertical mode of transportation owing to the increasing number of skyscrapers along with growing purchasing power of consumers in Brazil, China, and India is expected to fuel growth. Rising need for energy efficient systems along with controlled transportation traffic are other key parameters fueling demand. Favorable government regulations along with expeditious infrastructure development in emerging countries are also expected to result in development of the industry in the near future. The market is anticipated to reach USD 30.55 billion by 2022.

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http://www.grandviewresearch.com/industry-analysis/smart-elevator-market

Technological innovations resulting in several benefits including digital control security are also likely to contribute to growth. Better traffic management, cost efficient power consumption, and reduced waiting time for passengers are also expected to boost the market at a significant rate.

Demand for smart elevators in new deployment solutions accounted for over 40% of the global market revenue in 2014. Increasing government spending on infrastructure development, particularly in Asia Pacific, is expected to augment growth over the forecast period.

Elevator automation including efficient transportation and time-energy saving deployment, is expected to witness significant gains over the forecast period at a CAGR of 15.6%. Elevator access security & control contributed to account for more than 35% of the total share in 2014 and is expected to lose share to the automation segment over the forecast period.

Maintenance accounted for less than 6% of the market share in 2014. However, it is anticipated to witness significant growth in coming years, particularly in North America and Europe owing to the existence of installed systems and high prevalence of MRO activities in the region. Stagnant economic growth of these regions is anticipated to fuel maintenance activities of smart elevators.

Smart elevators industry for residential applications was valued at USD 2.29 billion in 2014 and is estimated to increase in the near future on account of rising disposable income and increasing demand for energy efficient alternatives. Consumer preference towards energy-efficient solutions for industrial applications is expected to propel growth in the near future at a CAGR of 15.6% over the forecast period. Rapid industrialization, particularly in Asia Pacific and Latin America, coupled with growing inclination of manufacturers towards automation is expected to result is high demand for the technology.

In 2014, North America led the global market accounting for 42.3% of the total market revenue. Asia Pacific is expected to witness substantial growth at a CAGR of 19.0% over the projected period on account of rising urbanization, technological advancement, high purchasing power, and infrastructure development in the region. Supportive government initiatives to upgrade existing systems is anticipated to fuel the growth of the Europe industry in the near future.

Key players include Bosch Security Systems, Schindler, Schneider Electric, Mitsubishi Electric Corporation, Kone, Otis Elevator Company, Hyundai Elevator Co. Ltd., Fujitec, and Hitachi Ltd. The industry is characterized by enhanced service facility and efficient distribution channels for manufacturers to gain an advantage over their competitors.

Predictive Analytics Market Worth $23.9 Billion By 2025

The global predictive analytics market size is expected to be valued at USD 23.9 billion by 2025, registering a CAGR of 23.2% over the forecast period, according to a study conducted by Grand View Research, Inc. Massive data dependence and adoption of advanced technologies such as AI, machine learning, and big data is expected to drive the demand for predictive analytics solutions over the forecast period. These solutions transform collected data into insights; for instance, they detect patterns to determine a suitable course of action. They have also been instrumental in the development of search advertising and recommendation engines. Growing awareness about the importance of available data and its analysis for predicting the future scenario is offering a competitive edge to end users, thereby driving the demand for these solutions.

Key factors driving the demand for predictive analytics solutions are enhanced product usability, adoption of new technologies, massive data deluge, and newer levers of differentiators. In addition, growing need for database management, data warehouses, forecasting, data mining, smart logistics, CRM, and data visualization in dashboards is supporting the growth of the market. These solutions help map the various stages of the buyer journey, which would help organizations adopt suitable marketing campaigns, subsequently leading to higher sales and customer retention. Increasing demand for these solutions from organizations to equip their business functions with analytical capabilities are also expected to drive the growth of the market over the forecast period.

Techniques for implementing predictive analytics include machine learning, deep learning, regression, regression modeling, mathematical, text mining, neural nets, genetic algorithms, clustering, decision trees, and data exploration techniques to gain insights from historical and present data. These techniques are increasingly being adopted by organizations for various applications such as CRM, direct marketing, risk management, portfolio management, fraud detection, underwriting, and credit scoring. These solutions therefore help organizations decide future strategies based on predicted outcomes for enhancing the overall performance in the coming years.

These solutions find applications in various end-use industries such as BFSI, healthcare, retail, manufacturing, government, sports, transportation and travel, IT, energy and utilities, and entertainment. These solutions help manage diversified applications across the aforementioned verticals. For instance, in the manufacturing industry, these solutions can be used for equipment maintenance management, workforce management, and cross-selling and up-selling. Moreover, the IT and telecom industry can adopt these solutions in sales, marketing, and CRM by implementing churn and pricing optimization.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/predictive-analytics-market

Further key findings from the study suggest:

  • The customer analytics segment is anticipated to gain significant traction over the forecast period, supported by digitalization and positive outlook of the e-commerce sector
  • Training and consulting services are expected form the fastest-growing segment over the forecast period owing to rising need for experienced employees for decision making based on predictive outcomes
  • Demand for cloud deployment is likely to increase owing to cost-effectiveness, faster data-processing, and ease in data handling offered by cloud platforms
  • The small and medium enterprises segment is expected to register a significant CAGR over the forecast period owing to growing need for enhancing operational performance by reducing overall operational costs with the help of these solutions
  • The retail and e-commerce segment is predicted to witness a remarkable growth over the forecast period owing to increasing internet and smartphone penetration, along with digitalization across the globe
  • North America dominates the global market owing to technological advancements and presence of players in U.S. Financial funding to new players from venture capitalists is projected to intensify the competition in the market
  • Prominent players operating in the market include Microsoft Corporation; SAS Institute, Inc.; IBM Corporation; SAP ERP; Siemens AG; NTT Data Corporation; and Tableau Software, Inc.

Pet Wearable Market Size Worth $4.6 Billion By 2027

The global pet wearable market size is estimated to reach USD 4.6 billion by 2027, registering a CAGR of 14.3% over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing concerns toward companion animals’ health and wellbeing, coupled with rising pet humanization and population, is anticipated to be the key factor driving the growth of the market over the forecast period. In addition, increasing expenditure on pet consumables and rising demand for identification and tracking devices are some of the key factors driving the market growth.

According to the American Pet Products Association (APPA), the expenditure on companion animals in U.S. is expected to be USD 72.1 billion in 2018. Several advancements in technology is expected to lead to an increased demand for these wearables over the forecast period. Wearables are capable of continuously tracking health-related parameters such as body temperature, calorie intake, and Heart Rate Variability (HRV). Moreover, sensor technology is integrated into wearable devices to monitor and measure health metrics such as heart rate and respiration levels. It also enables pet owners to check disease symptoms, store medical records in the cloud, and set goals and reminders.

Moreover, growing reliance on pets for companionship, mental wellbeing, fitness, and entertainment has led to an increased spending on companion animals. The availability of advanced technology-based devices to monitor health by gathering vital information is expected to drive the pet wearable market growth. Furthermore, increasing adoption of companion animals in emerging economies such as India and China would offer several opportunities for market growth in the Asia Pacific region over the forecast period. On the other hand, North America dominated the global market in 2019 owing to the increasing awareness of the importance of pet health. Moreover, high penetration of fitness and activity monitoring devices and increased spending on companion animals is anticipated to drive the regional market growth.

Key industry players include Allflex USA Inc.; Avid Identification Systems, Inc.; Datamars; Fitbark; Garmin Ltd., Intervet Inc.; Invisible Fence; and Konectera Inc. Key players in the market focus on research and development activities to develop innovative products to expand their product offerings. In addition, companies adopt strategies such as collaborations, expansions, and acquisitions to strengthen their position in the global market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/pet-wearable-market

Further key findings from the study suggest:

  • The RFID segment dominated the market with a share of 39.9% in 2019, as RFID technology is considered more accurate and reliable, and helps authenticate products and store information
  • The identification and tracking segment dominated the market in 2019 and is projected to reach USD 2.8 billion by 2027 as tracking wearable devices can play a significant role in finding lost or stolen pets
  • The Asia Pacific pet wearable market is estimated to register the highest CAGR of over 17.0% from 2020 to 2027 owing to increasing awareness regarding pet fitness and health in countries such as India and Australia
  • Key industry players include PetPace LLC; Whistle Labs, Inc.; Tractive; Garmin International, Inc.; and FitBark.

Fire Alarm And Detection Market Size Worth $75.3 Billion By 2027

The global fire alarm and detection market size is expected to reach USD 75.3 billion by 2027, expanding at a CAGR of 8.5% over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing awareness towards the safety and security of assets across the globe is expected to offer significant opportunities for technological innovations in the market. Additionally, rise in the consumer spending on fire protection devices especially across the enterprise and industrial sectors in order to reduce the risk of accidents is expected to spur market growth. Moreover, stringent government regulations and mandates regarding workplace safety, and increasing demand for state-of-the-art fire alarm & detection system is expected to fuel the market.

The need for upgrading the existing alarm and detection systems to advanced one and consequently complying with the stringent regulation will drive the market. Growing fire accidents has alarmed the need for installation of advanced alarm and detection systems across the residential, commercial, and industrial sectors. For instance, Legislative requirements from different countries including the National Fire Protection Association, USA, and Building Code of Australia have mandated the installation of fire detection devices, thereby boosting the demand for these devices.

North America dominated the market in 2019 and is expected to continue its dominance over the foreseen years. The anticipated growth in the construction industry in Canada owing to the government’s “Investing in Canada Plan”. Under the initiative, the government of Canada is planning to invest USD 139 billion in infrastructure till 2028. U.S. is attributed to the high demand for commercial and residential places across states such as Georgia, Florida, and North and South Carolina. Moreover, increasing automation in buildings and smart homes, stringent government regulations pertaining to safety standards, and the growing demand from the mining and manufacturing industries have fueled the demand for the alarm and detection systems in the region.

Asia Pacific is anticipated to exhibit the highest CAGR from 2020 to 2027. Growing industrialization and urbanization in emerging markets such as India, China, and Japan is expected to accelerate infrastructure spending including mass transportation such as airport security, including intelligent transportation systems across these regions is estimated to offer lucrative growth opportunities for the industry. However, the growing need for replacement and maintenance services of the deployed fire safety equipment owing to various building safety codes is offering lucrative opportunities for the manufactures to enter into the market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/fire-alarm-market

Further key findings from the study suggest:

  • The fire detectors segment is expected to dominate the market owing to stringent government regulations across different countries that have mandated the installation of the devices. For instance, in India, National Building Code (NBC) was published in 2016 to implement building standards ensuring safety through the use of active and passive smoke detection systems. The segment is expected to reach USD 38.1 billion by 2027
  • The smoke detectors segment is expected to dominate the fire detectors segment and the trend is expected to continue over the forecast period. The smoke detectors segment is anticipated to reach USD 17.0 billion by 2027. It is owing to the substantial use of smoke detectors in the commercial as well as residential buildings since they are cost-effective and have a longer lifespan as compared to other products
  • The fire alarm and detection market primarily includes applications such as industrial, commercial, and residential. The commercial application segment dominated the market in 2019 and is projected to exhibit a CAGR of 8.5% from 2020 to 2027. It is owing to the stringent regulations and norms by the government for the installation of smoke detection system across commercial places such as hospitality, government, healthcare, telecom and IT, BFSI, retail, and institutional
  • North America is projected to account for the majority share of the market over the forecast period owing to the booming infrastructural developments and implementation of stringent fire safety regulations and norms in the regions. The region is anticipated to reach USD 21.8 billion by 2027
  • The prominent industry participants include Bosch GmbH; Eaton Gentex Corporation; United Technologies Corporation; Honeywell International Inc.; and Johnson Controls.

Neonatal Critical Care Equipment Market Worth $1.3 Billion By 2027

The global neonatal critical care equipment market size is expected to reach USD 1.3 billion in 2027, expanding at a CAGR of 9.4%, according to a new report by Grand View Research, Inc. High number of preterm births, prevalence of neonatal jaundice, and innovative product launches are some of the factors responsible for market growth. The Neonatal Intensive Care Unit (NICU) provides treatment to premature infants and those having breathing problems, anemia, heart defects, and other problems requiring critical care.

The majority of admissions in the NICU comprise of the premature/preterm babies. To support their treatment, various organizations are providing financial assistance to healthcare providers. For instance, in October 2018, the Australian Government announced a provision of AUD 600,000 to the Miracle Babies Foundation to support the families of premature babies. The overall assessment of the market reveals that the number of cases of jaundice and respiratory problems in neonates is increasing and precautionary measures are being taken by government authorities. For instance, governments are increasing the number of NICU facilities in order to tackle health related problems in neonates.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/neonatal-critical-care-equipment-market

Further key findings from the report suggest:

  • The Respiratory equipment segment dominated the market in terms of revenue share in 2019 due to the high prevalence of respiratory disorders among the newborn babies
  • North America dominated the market in terms of revenue share in 2019 due to high healthcare expenditure and measures adopted by organizations to improve healthcare for neonatal
  • BC Children’s Hospital, Vancouver, announced to launch Teck Acute Care Centre and claimed to have North America’s first NICU to provide care to mother and infant in the same room
  • On the other hand, Asia Pacific is likely to exhibit the fastest CAGR of 10.9% from 2020 to 2027 pertaining to a high birth rate in the region
  • The manufacturers of neonatal critical care equipment are undertaking research and development activities to provide innovative products, in order to cater to the increasing demand for NICUs globally
  • In January 2016, Maquet Medical Systems USA (Getinge Group) launched two ventilators for use in NICU, the Servo-U and Servo-n.