Infant Incubator Market to Reach USD 659.36 Million by 2028

According to a new report by Vantage Market Research, the infant incubator market is expected to reach USD 659.36 Million by 2028, growing at a CAGR of 5.14% from 2021 to 2028. The major determinant that fuels the infant incubator market growth is a rise in the birth rate of infant premature with low birth weight and some other defects.

Key Findings:    

• The Neonatal Intensive Care Unit (NICU) Incubator segment of product segment, for the infant incubator market, is anticipated to grow at the fastest CAGR over the forecast period owing to an increase in the number of birth of premature infants with low birth weight and some other defects.
• The Genetic defects segment of the application segment, for the infant incubator market, is projected to be the dominating segment for the application segment followed by the low birth weight segment, owing to the presence of a huge base population of children with genetic defects or low birth weight suffering from genetic disorders.
• North America is expected to grow at the fastest CAGR of over 8.12% from 2021 to 2028. This surge is attributed to the rising demand for infant incubators followed by the increasing number of end-users like Pediatric Hospitals, Birthing Centers, Neonatal Intensive Care Units, Others.

Some of the key players in Infant Incubator Market Philips Lighting Holding B.V., GE Healthcare, Natus Medical, Inc., Herbert Waldmann GmbH & Co. KG, Nice Neotech Medical Systems Pvt. Ltd., Phoenix Medical Systems Pvt. Ltd., Atom Medical Corp., National Biological Corp., Solarc Systems, Inc., among others.

The birth rate of premature infants with lower birth weights and other defects is increasing. For instance, according to WHO, every year around 15 million infants are born preterm which is likely before 37 weeks of gestation. Also, an increase in the number of establishments of NICU units and expansion in knowledge among individuals concerning neonatal care further drive the infant incubator market growth. Furthermore, continuously increasing investments and technological advancements are offering several opportunities to key players to meet the untapped demand for the infant incubator further propelling the growth of the infant incubator market. However, increasing prices of infant incubator and low accessibility toward neonatal care in the underdeveloped and developing regions is restraining the market growth.

North America region is projected to hold the largest share and growth at the fastest CAGR for the infant incubator market over the forecast period. The U.S. is expected to be the dominating in North America region, owing to rising incidence if in the birth rate of infant premature with genetic defects, low birth weight, and other defects.