According to the deep-dive market assessment study conducted by Growth Plus Reports, the global fetal monitoring market was pegged at ~US$ 3.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of ~7.0% from 2022 to 2030.
Increased birth rates and pre-term deliveries are responsible for the growth of the fetal monitoring market. Better maternal and fetal care is being aggressively pursued by numerous government and non-government organisations. However, the foetus is impacted by the rise in pregnancy issues brought on by high blood pressure, diabetes, and pre-term labour medications. Therefore, gynaecology and obstetrics procedures commonly use fetal monitoring devices to assess the health of the foetus during labour and delivery. Additionally, the market for fetal monitoring devices is also expanded by technological advancements like wireless or real-time analysis. To decrease intrapartum stillbirths, the demand for fetal monitoring devices has expanded dramatically during the past few years.
The global fetal monitoring market is influenced by a number of factors, including an increase in the prevalence of genetic cardiopulmonary diseases, increased awareness and willingness to invest in the development of fetal monitoring, and an increase in the number of post-term pregnancies, multiple pregnancies, and premature deliveries.
The increased requirement for monitoring fetuses for various birth abnormalities is the main factor driving product demand. According to the Centers for Diseases Control and Prevention (CDC), congenital heart abnormalities (CHDs) are the most prevalent types of birth malformations. Some CHDs, especially mild ones, are becoming more prevalent, measured as the proportion of infants born with heart abnormalities to all births. Additionally, there is a higher chance of several developmental disorders in association with low birth weight, early birth, multiple births, and infections during pregnancy.
Furthermore, the COVID-19 infection also increased the requirement for fetal monitoring. According to the CDC's Surveillance for Emerging Threats to Mothers and Babies network 2022 data, 3,381 (13%) of the 25,896 children born to mothers who contracted SARS-COV-2 while pregnant also tested positive for COVID-19. Both to women with symptoms and those who don't. Nearly all new-born with infections were delivered to mothers who were infected close to delivery. However, a number of issues restrict the global market for fetal monitoring from expanding, including high equipment costs, a lack of regulatory standards, technological constraints, and arbitrary interpretations.
North America held the largest market share, and due to the region's developed financial system and quick access to specialists, this market sector accounts for a sizeable portion of the global market. Additionally, there are variables including a rise in preterm births, the frequency of various birth defects in foetuses, rising patient knowledge, and improved reimbursement practises. It is projected that it will continue to be in that position during the anticipated time period.
The CDC estimates that congenital heart defects result in 40,000 new births yearly in the United States, or about 1% of all births. The CDC also reported that 1 in 10 babies born in the United States in 2019 suffered from pre-term birth. Additionally, the US Federal government actively supports international initiatives to enhance maternal and foetal health. According to the CDC 2022, there are already a number of state-based birth defects programmes that monitor CHDs in newborns and young children.
Therefore, the increasing prevalence of congenital disorders in the US would increase demand for treatments involving fetal monitoring devices, which would in turn provide a favourable climate for the growth of both the North America and U.S. foetal monitoring markets.
Due to rising awareness regarding the benefits of fetal monitoring awareness and rising healthcare expenditure, Asia Pacific offers lucrative prospects for key participants in the fetal monitoring market. Additionally, the increased demand for sophisticated fetal monitoring devices is responsible for the market expansion in this area. Moreover, Asia Pacific region has a large population base, with China and India being the two most populous nations. As a result, the Asia Pacific fetal monitoring market is anticipated to grow due to the region's large population and rise in pregnancy rates.
Some of the key players operating the global fetal monitoring market include Koninklijke Philips N.V., Cardinal Health, Inc., Monarch Meditech, GE Healthcare, Siemens Healthineers,Trivitron Healthcare, Shenzhen Comen Medical Instruments Co., Ltd., FUJIFILM SonoSite, Inc., Life Plus Natus, Medical Incorporated, Huntleigh Healthcare Limited, The Cooper Companies Inc., Dott Medical Co. Ltd., CONTEC Medical Systems Co., Ltd., and EDAN Diagnostics, Inc., among others.