Neonatal Neurosonography Market is set to create high incremental opportunity for industry players during the forecast period, with an upward CAGR trajectory of 3.9% during the forecast period. Neurosonography for baby has increased owing to changing lifestyle and need for healthy assessment of children.
Neonatal neurosonography procedure is primarily used for evaluating infants with congenital defects and intracranial hemorrhage. The procedure is highly reliable as it doesn’t involves radiations – thereby making it safe to be performed on the new born babies. According to the estimates, nearly 11 in 1,000 live births results in birth injury. The condition is alarming as it leads to chronic illness if left undiagnosed for longer term.
As of 2017, the industry is consolidated with top 7 players accounting for over 77% of global share. Most companies market their product through direct distribution channel especially leading companies.
Global Neonatal Neurosonography Market Size Analysis
North America accounted for 43% of global industry share. While the rate of birth injuries is significantly lower than global average (6.9/1,000), good treatment options and better healthcare amenities has led to good market prospects in the region.
Western Europe stands next to North America. UK accounted for 23% of regional share in 2017. In 2015, the Secretary of State for Health (UK) announced its plan to reduce annual rates of stillbirth, neonatal death brain injuries by 20% by 2020. This is expected to significantly boost the overall neurosonography procedure in the country during the forecast period.
Asia Pacific will register fastest CAGR (6.9%) with major revenue coming from Japan and China. South East Asia will gain traction in coming years – creating high revenue opportunity for industry players.
Neonatal Neurosonography Market Size and Forecast: Competition Landscape
Some key neonatal neurosonography market players are Hitachi Medical Corporation, Shimadzu Corporation, Esaote, Toshiba, Siemens Healthcare, Philips Healthcare, and GE Healthcare.
Neonatal Neurosonography Market Industry Segmentation
By Therapeutic Application:
- Pediatric Centers
- Ambulatory Surgical Centers