GLOBAL FETAL AND NEONATAL CARE EQUIPMENT MARKET 2014 - 2019 Market Shares, Forecasts & Trends
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TABLE OF CONTENTS 1. INTRODUCTION
1
1.1 Market Definition
1
1.2 Market Size Estimation
2
2. EXECUTIVE SUMMARY
3
3. MARKET OVERVIEW
4
3.1 Introduction
4
3.2 Market Drivers
5
3.2.1 Rising Incidence of Preterm Births
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3.2.2 Increasing Awareness for Prenatal and Neonatal Care
6
3.2.3 Increased demand of Prenatal Therapeutics, Diagnostics and Monitoring Devices
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3.3 Market Restraints 3.3.1 Low Birth Rates in Developed Countries 3.4 Market Opportunities
8 8 9
3.4.1 Increased Government Funding and Awareness for Neonatal and Fetal Care
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3.4.2 Emerging Markets
11
3.5 Porter’s Five Forces Analysis: Global Prenatal, Fetal and Neonatal Equipment Market
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3.5.1 Bargaining Power of Suppliers
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3.5.2 Bargaining Power of Buyers
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3.5.3 Threat of Substitutes
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3.5.4 Threat of New Entrants
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3.5.5 Competitive Rivalry
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4. Global Prenatal, Fetal and Neonatal Equipment Market 4.1 By Product Type
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4.1.1 Prenatal and Fetal Equipment
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4.1.1.1 Ultrasound and Ultrasonography Devices
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4.1.1.2 Fetal Dopplers
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4.1.1.3 Fetal Magnetic Resonance Imaging (MRI)
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4.1.1.4 Fetal Monitors
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4.1.2 Neonatal Equipment
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4.1.2.1 Infant Warmers and Incubators
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4.1.2.2 Phototherapy Equipment
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4.1.2.3 Neonatal Monitoring Devices
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4.1.2.4 Respiratory Assistance and Monitoring Devices
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4.1.3 Other Prenatal, Fetal & Neonatal Equipment 4.2 By Geography 4.2.1 North America
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4.2.1.1 US
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4.2.1.2 Canada
31
4.2.1.3 Mexico
33
4.2.2 Europe
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4.2.2.1 UK
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4.2.2.2 France
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4.2.2.3 Germany
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4.2.2.4 Spain
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4.2.2.5 Italy
38
4.2.3 Asia-Pacific 4.2.3.1 India
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4.2.3.2 China
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4.2.3.3 Japan
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4.2.4 ROW 5. Competitive Ananlysis
42 43
5.1 Mergers & Acquisitions
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5.2 New Product Launches
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5.3 Expansion
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5.4 Collaborations
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6. Company Profiles
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6.1 CareFusion Corporation
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6.2 Cooper Surgical, Inc.
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6.3 Covidien PLC
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6.4 Fisher & Paykel Healthcare Limited
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6.5 FUJIFILM SonoSite, Inc.
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6.6 Getinge AB
62
6.7 Nonin Medical, Inc.
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7. Appendix
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RESEARCH METHODOLOGY 1) Secondary Research: Information was collected from a number of public and paid data sources. Public sources include but is not limited to Government websites, publications from the fetal and neonatal health care programs of different countries, company annual reports, white papers and research publications by recognized industry experts, WHO, United States (U.S.) Department of Health and Human Services, Maternal and Child Health Bureau, Public Health Agency of Canada, National Institute of Health and Care Excellence. Paid data sources include authentic industry databases.
2) Primary Research: After collecting data from secondary sources, primary interviews were conducted with stakeholders at different points of the fetal and neonatal care equipment manufacturers, distributors, ingredient suppliers, companies manufacturing fetal and neonatal care equipment and key opinion leaders of the industry. 50 respondents constituting fetal and neonatal care equipment manufacturers, distributors, suppliers, hospital administrators, etc. were interviewed. The data collected from the survey was analyzed by an expert team of analysts to both validate the data points obtained from secondary research and to fill any gaps in data.
3) Market Analysis: The market analysis phase involves analyzing the collected data, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at a close estimate.
4) Expert Validation: The market analysis data is verified and validated by a number of experts, both inhouse and external.
5) Report Writing: After the data is curated through the process, our analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire business ecosystem in a single report.
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1.1 MARKET DEFINITION Healthy mothers and children are the building blocks for a strong future of any nation. While infant and maternal infant mortality continue to decline, the burden of mortality and morbidity in perinatal period – pregnancy, childbirth and postpartum, remains a major concern. The principal factors behind perinatal mortality and morbidity include preterm birth, fetal growth restriction, and congenital anomalies. Babies born preterm and with low birth weight are more likely to die and to have long-term neurological and developmental disorders than those born at term. The incidence of these complications has increased in many countries. Each year, some 15 million babies in the world, more than one in 10 births, are born too early. An estimated three-quarter of those preterm babies who die could survive without expensive care if a few proven and inexpensive treatments and preventions were available worldwide. Preterm births have been an overlooked and neglected problem and because of high incidence and risk associated with the preterm births, need of fetal and neonatal care equipments has increased in recent years. There is a lot of disparity between countries regarding the magnitude of the problem. Of the 11 countries with preterm birth rates over 15%, all but 2 are in sub-Saharan Africa. Preterm births account for 11.1% of the world's live births, 60% of them in South Asia and sub-Saharan Africa. In the poorest countries, on average, 12% of babies are born too soon, compared to 9% in higher-income countries. The market is majorly dominated by technologies like ultrasound & ultrasonography, fetal dopplers, infant warmers & incubators, phototherapy equipment, and respiratory assistance & monitoring devices. Respiratory assistance and monitoring devices is the largest sub-segments with over 40% share of the neonatal equipment market. Africa and Asia are the major market share holders because of increased incidences of premature child birth and rise in child births.
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3. GLOBAL MARKET OVERVIEW Fetal monitor, fetal pulse oximetry systems and sensors, and noninvasive jaundice monitoring device markets are the major products dominating the market. Two new jaundice monitoring devices that allow the noninvasive assessment of blood bilirubin levels are expected to find widespread acceptance in labor and delivery rooms and NICUs, based on their ease of use and low cost.
Asian market is expected to show more growth in this segment because of more incidences of preterm births. In 2010, the neonatal and infant care equipment market in India was valued at 632.5 million with estimated sales of 9200 units. This amounts to 15 percent growth in volume terms and 20 percent in value terms over 2009. The market is poised to grow over the next couple of years. Phototherapy equipment, primarily used for treatment of jaundice in infants, contributed 63 million, with sales at 2000 units, with the latest LED phototherapy equipment accounting for 25 percent of quantity sales, contributing 40 percent in value terms. The incubators in volume terms claimed a mere 6.5 percent of the total market (valued at 120 million). This is in stark contrast with the global market where a higher sale of incubators is made in comparison with warmers. In 2000, combined US sales of stand-alone monitors and disposable sensors are projected to be $16.7 million, increasing to $69.8 million in the year 2003, the bulk of which will be disposable sensors.
Global Neonatal and Fetal Care equipment market is estimated to reach US$5.96 billion by 2019 with a CAGR of 6.88%
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Global Fetal and Neonatal Care Equipment Market(In Billions) 7.00 6.00 5.00 4.00
DATA HIDDEN FROM VIEW
3.00 2.00 1.00 0.00 2014
2015
2016
2017
2018
2019
3.2 MARKET DRIVERS
3.2.1 RISING INCIDENCES OF PRETERM BIRTHS AND CORRESPONDING EFFORTS TO INCREASE THEIR SURVIVAL RATES
Complications of preterm birth is the single largest direct cause of neonatal deaths, responsible for 35% of the world’s 3.1 million deaths a year, and the second most common cause of under-5 deaths after pneumonia.
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Preterm Birth In Low Income Countries
Normal 12%
DATA HIDDEN FROM VIEW
Preterm
88%
Source: Mordor Intelligence Analysis
New WHO estimates of global rates of preterm births indicate that of the 135 million live births worldwide in 2010, 14.9 million babies were born preterm, representing a preterm birth rate of 11.1%. Over 60% of preterm births occurred in sub-Saharan Africa and South Asia where 9.1 million births annually are estimated to be preterm. The high absolute number of preterm births in Africa and Asia are related, in part, to high fertility and the large number of births in those two regions in comparison to other parts of the world. Rates are highest on average for low-income countries (11.8%), followed by lower middle-income countries (11.3%) and lowest for upper middle- and high-income countries (9.4% and 9.3%). However, relatively few cases of high preterm birth rates are being observed in high-income countries.
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Preterm births in Middle Income Countries
Normal birth
DATA HIDDEN 11% FROM VIEW Preterm Birth 89%
Source: Mordor Intelligence Analysis
Of the 1.2 million preterm births estimated to occur in high-income regions, more than 0.5 million (42%) occur in the United States. The highest rates are found in Southeastern and South Asia where 13.4% of all live births are estimated to be preterm.
Preterm births in High income Countries
Normal birth
DATA HIDDEN FROM VIEW 9% Preterm birth
91%
Source: Mordor Intelligence Analysis
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4.2 MARKET SEGMENTATION- BY GEOGRAPHY 4.2.1.1 NORTH AMERICA- US MARKET The market for North America fetal and neonatal care equipment health is estimated to be $ 1.59 Billion in 2014 and is expected to reach $ 2.09 billion by 2019 with a CAGR of 5.65%. The North America fetal and neonatal care equipment market is highly dynamic and growing, supported by continuous R&D activities. Preterm birth is the major concern accounting for long term disabilities like mental retardation, cerebral palsy, vision and hearing problems etc. which are responsible for neonatal health problems. In the United States in 2010,reported preterm birth rates were as high as 17.5% in African American, compared to just 10.9% in Caucasians,with rates varying from around 11 to 12% in those 20 to 35 years of age to more than 15% in those under age 17 or over 40 .
North America Fetal and Neonatal Care Equipment Market( In Billions) 2.50
2.00
1.50
DATA HIDDEN FROM VIEW
1.00
0.50
0.00 2014
2015
2016
2017
2018
2019
Source: Mordor Intelligence Analysis
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Number of Preterm Births by Countries
25% 47%
DATA HIDDEN FROM VIEW
US
Canada
28% Others
Source: Mordor Intelligence Analysis
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6. COMPANY PROFILES 6.3 COVIDIEN PLC INTRODUCTION Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien develops, manufactures and sells a diverse range of industry-leading medical device and supply products. With 2013 revenue of $10.2 billion, Covidien has more than 38,000 employees worldwide in more than 70 countries, and its products are sold in over 150 countries
Financials Fiscal 2013 net sales of $10.24 billion were four percent above the previous year, with foreign exchange rate movement lowering sales growth rate by two percentage points. Net revenue earned from Oximetry & Monitoring Products, Airway & Ventilation Products was US$1732 million in 2013. The increase in net sales of Oximetry & Monitoring was primarily due to the acquisition of Oridion in fiscal 2012, which contributed $79 million to the increase in net sales and, to a lesser extent, increased sales of pulse oximetry sensors.
Mergers and Acquisitions • Nfocus Neuromedical, Inc. (Nfocus)—a developer of neurovascular intrasaccular devices, for total consideration of $72 million ($71 million, net of cash acquired), comprised of cash of $51 million ($50 million, net of cash acquired) and the fair value of contingent consideration of $21 million. As of September 27, 2013, our maximum future contingent consideration payments associated with Nfocus totaled $45 million; • CV Ingenuity (CVI)—a developer of a treatment for peripheral arterial disease, for total consideration of $216 million ($211 million, net of cash acquired), comprised of cash of $115 million ($110 million, net of cash acquired) and the fair value of contingent consideration of $101 million, of which $65 million was paid during fiscal 2013. As of September 27, 2013, our maximum future contingent consideration payments associated with CVI totaled $82 million, for which we had recorded a liability of $41 million.
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Products and Services Nellcor™ Bedside Respiratory Patient Monitoring System : The Nellcor™ Bedside Respiratory Patient Monitoring System incorporates the latest Nellcor digital signal processing technology for accurate, reliable readings even during low perfusion and other forms of signal interference. Nellcor™ Respiration Rate Software : Unlike other methods for calculating respiration rate, which can be unreliable and uncomfortable for the patient, monitoring with Nellcor™ Respiration Rate software is accurate, comfortable for patients, and easy to use. Alarm Management System : An upgrade to the Nellcor™ N600x bedside pulse oximetry monitor that identifies and alerts staff to physiologic conditions that suggest relevant respiratory events and patterns in desaturation without adding to the current set of monitors and sensors.
Analyst View Covidien is a leading global healthcare products company that creates innovative medical solutions for better fetal and neonatal care. Major segments covered by the company for fetal and neonatal care include Oximetry & Monitoring Products and Airway & Ventilation Products. The company is continuously in the process of launching new products, owing to increased awareness for fetal and neonatal care. One of Covidien’s recent products is the Integrated Real-time Imaging System (IRIS) technology which streams a real-time video back to the Kangaroo IRIS monitor, providing visual information that can aid clinicians in identifying key areas of a patient's anatomy. Nellcor™ pulse oximetry portfolio, which is used to measure arterial oxygen saturation, has received U.S. Food and Drug Administration (FDA) 510(k) clearance for motion claims. This in turn shows the company is expanding its business in respiratory and monitoring devices focussing on Oximetry & Monitoring Products, Airway & Ventilation Products, etc. The company recently added a new product to its family of ShileyTM neonatal and pediatric tracheostomy tubes. The new cuffless product will help enhance patient care and safety within the hospital and home care environments. This new product portfolio represents an important step forward in the care of young patients dependent on tracheostomy tubes. Covidien acquired all of the outstanding capital stock of Newport Medical, which is privately-owned and based in Costa Mesa, CA, for approximately $108 million. Newport Medical is a physician-led company, focused solely on the design and manufacture of dependable, life improving ventilators that are affordable for caregivers worldwide. Newport Medical’s products are sold in the United States and more than 115 countries worldwide. This acquisition is consistent with Covidien’s strategy to expand into adjacencies and invest in product categories where it can develop a global competitive advantage. Fetal And Neonatal Care Equipment Market | Sample
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The percentage change in revenue for this segment for 2013 is 12 % and 3% respectively as compared to 2012. The increase in net revenue of the company for this segment in 2013 as compared to 2012 shows increase in market share for fetal and neonatal care equipment. The increase in net sales of Oximetry & Monitoring was primarily due to the acquisition of Oridion in fiscal 2012, which contributed $79 million to the increase in net sales and, to a lesser extent, increased sales of pulse oximetry sensors.
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