Global Neonatal Infant Care market growth 2024, Forecast To 2033
4 Mar, 2024
The neonatal infant care market has exhibited robust growth, escalating from$2.89 billion in 2023 to$3.13 billion in 2024, with a compound annual growth rate (CAGR) of 8.4%. This growth is attributed to advancements leading to improved survival rates among preterm births, increased emphasis on neonatal nutrition, implementation of maternal and infant healthcare programs, heightened awareness regarding neonatal care, and initiatives for patient rehabilitation and functional restoration. Forecasts anticipate continued strong growth, with the market projected to expand to$4.28 billion by 2028, boasting a compound annual growth rate (CAGR) of 8.1%. Factors fueling this growth include the development of personalized neonatal medicine, advancements in neonatal vaccines, the emergence of neonatal telehealth services, focus on neuroprotection for neonates, and genetic screening for neonatal disorders. Major trends in the forecast period encompass technological advancements in neonatal equipment, increased focus on developmentally supportive care, home-based neonatal care solutions, advancements in neonatal imaging, and the rise of sustainable and eco-friendly neonatal products.
Global Neonatal Infant Care Market Key Driver
The growing textile industry is expected to drive the naphthalene derivatives market going forward. The textile industry refers to the fields of research, design, development, production, and distribution of textiles, fabrics, and apparel. The market for naphthalene is growing as a result of rising living standards supported by high discretionary income, which translates to spending on fabrics and textiles where it is utilized in material dyeing and bleaching. For instance, in May 2023, according to National Council of Textile Organizations (NCTO) is a US-based trade association that representing textile industry, in 2022, the estimated value of U.S. shipments in the man-made fiber, textile, and apparel sector reached $65.8 billion, showing an increase from the $64.04 billion recorded in 2021. Notably, U.S. exports in textiles and apparel to the Western Hemisphere experienced a significant rise of 14.9 percent, reaching a total of $18 billion in 2022. Therefore, increasing demand from the textile industry drives the naphthalene derivatives market. The naphthalene derivatives market is forecasted to grow to $XX billion by 2023, with continued expansion anticipated through 2024 and 2028.
Get A Free Sample Of The Global Neonatal Infant Care Market ReportGlobal Neonatal Infant Care Market Segments
The global neonatal infant care market covered in this report is segmented –
1) By Product Type: Thermoregulation Devices, Phototherapy Devices, Monitoring Systems, Neonatal Hearing Screening, Neonatal Infant Resuscitator Devices, Vision Screening, Others Products
2) By Prenatal and Fetal Equipment: Ultrasound and Ultrasonography Devices, Fetal Doppler's, Fetal Magnetic Resonance Imaging (MRI), Fetal Monitors
3) By Neonatal Equipment: Infant Warmers and Incubators, Phototherapy Equipment, Neonatal Monitoring Devices and Respiratory Assistance, Monitoring Devices
4) By End-User: Hospitals, Nursing Homes, Pediatric and Neonatal Clinics
By Geography: The regions covered in the ndt services market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the neonatal infant care market share in 2023. The regions covered in the neonatal infant care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Neonatal Infant Care Industry Players
Rutgers Chemicals GmbH, BASF SE, Huntsman International LLC, Koppers Inc., Arkema SA, Evonik Industries AG, Kao Corporation, Cromogenia-Units SA, Clariant AG, King Industries Inc., Carbon Tech Group Ltd., JFE Chemical Corporation, Rain Carbon Inc., Giovanni Bozzetto Spa, Covestro AG, Himadri Specialty Chemical Ltd., Nippon Steel Chemical & Material Co. Ltd., Merck Co. & KGaA, Sinopec Shanghai Petrochemical Company Limited, Shandong Hongyuan Chemical Co. Ltd., Asahi Kasei Corporation, Biosynth Carbosynth Ltd., Nouryon Chemicals (Jiaxing) Co. Ltd., LG Chem Ltd., Eastman Chemical Company, Wanhua Chemical Group Co. Ltd, Saudi Basic Industries Corporation, Chevron Phillips Chemical Company
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Neonatal Infant Care Market Overview
The naphthalene derivatives refer to an aromatic hydrocarbon and the wetting agents that are extensively used as lubricants and wood-preserving compounds in various industries. It is useful as wetting agents and surfactants for dispersing colloids, increasing the solubility of hydrophobic substances, and as insecticides.
Neonatal Infant Care Global Market Report 2023 provides data on the global neonatal infant care market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The neonatal infant care market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.