Emerging Countries Experience Boom in Neonatal Care Market

Burgeoning affluence in recent years has contributed to the rising importance of Brazil, Russia, India, and China (the BRIC countries) in the global neonatal care products market. These are the latest findings of medical research group InMedica (Wellingborough, United Kingdom).

Fueled by increased healthcare expenditure arising from substantial economic growth in recent years, the BRIC countries are seeking to close the significant gap that exists with most developed countries in terms of healthcare provision, and are beginning to upgrade equipment and express a preference for higher-quality products. This is prompting suppliers in these countries to focus on improved product offerings to meet higher demands, and to establish a stronger presence internationally. Other emerging markets across Europe, the Middle East, Africa, Asia-Pacific, and the Americas are also showing signs of promise.

In the more established Western countries, conditions are more challenging due to high-saturation, a poor economic environment, and growth rates reflective of a replacement market. Despite these limitations, growth is still forecast in most of these countries over the next five years. Furthermore, new competitors are also expected to enter these markets, maintaining pressure on suppliers to offer innovative solutions to meet clients’ evolving needs, such as increased connectivity between devices and hospital information systems (HISs), as efforts continue to reduce costs in the context of restricted healthcare budgets.

“BRIC countries are driving global growth in the neonatal care market and this is set to continue over the next five years. Growth rates in China and India for example, are projected at more than 10% per annum” said senior InMedica analyst Michael Haverty.

Over the coming five years, InMedica forecasts an average compound annual growth rate (CAGR) of 4.7% for the global neonatal care products market, driven primarily by new installations in the Asia-Pacific region.

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