Global Fetal Monitoring Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 26, 2024 /EINPresswire.com/ — The global fetal monitoring market is experiencing significant growth, projected to increase from $3.63 billion in 2023 to $3.91 billion in 2024, at a compound annual growth rate (CAGR) of 7.5%. Despite past challenges, including the impact of global events, the market is poised to expand further, reaching $5.31 billion by 2028 with a CAGR of 7.9%. This growth is primarily driven by the rise in high-risk pregnancies, advancements in telehealth and remote monitoring, and a growing emphasis on non-invasive monitoring solutions.
Rising Healthcare Expenditure Fuels Market Expansion
A key driver for the fetal monitoring market’s growth is the increasing healthcare expenditure. This rise in investment supports technological advancements, improves access to care, and promotes research and development. For example, the 2021–2030 National Health Expenditure (NHE) report from the Centers for Medicare & Medicaid Services highlights an average annual increase of 5.1% in national health spending, projected to reach nearly $6.8 trillion by 2030. This increased expenditure enhances maternal and fetal healthcare services, thereby boosting the fetal monitoring market.
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Key Players and Technological Innovations
Leading companies in the fetal monitoring market include Koninklijke Philips N.V., Fujifilm Holdings Corporation, Medtronic PLC, Siemens Healthineers AG, and GE Healthcare Company. These companies are at the forefront of technological innovation, particularly in developing AI-based fetal assessment platforms. For instance, in August 2023, PeriGen Inc. introduced the LaborWatch platform, which utilizes AI to enhance patient safety by providing real-time alerts for deteriorating conditions during labor, ensuring timely interventions.
Major Trends Shaping the Market
The fetal monitoring market is witnessing several key trends:
Wireless and Wearable Devices: Advances in technology have led to the development of wireless and wearable fetal monitoring devices that offer greater convenience and mobility.
Integration of AI: Artificial intelligence is being integrated into fetal monitoring systems to improve accuracy and predictive capabilities.
Remote Monitoring Services: The trend toward telehealth has driven the adoption of remote fetal monitoring services.
Non-Invasive Technologies: There is a growing focus on non-invasive monitoring solutions to enhance patient comfort and safety.
Portable and Handheld Devices: The demand for portable and handheld fetal monitoring devices is increasing, providing flexibility and ease of use.
Market Segmentation
The fetal monitoring market is segmented as follows:
By Product: Ultrasound Devices, Electronic Maternal or Fetal Monitors, Uterine Contraction Monitors, Fetal Electrodes, Fetal Doppler Devices, Telemetry Devices, Accessories and Consumables, Other Products
By Method: Invasive, Non-Invasive
By Application: Intrapartum Fetal Monitoring, Antepartum Fetal Monitoring
By End-User: Diagnostic Laboratories, Hospitals and Clinics, Other End-Users
Regional Insights: North America Leading the Growth
In 2023, North America was the largest market for fetal monitoring. However, Asia-Pacific is anticipated to be the fastest-growing region during the forecast period, driven by increasing healthcare investments and rising awareness of prenatal care.
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Fetal Monitoring Global Market Report 2024 from TBRC covers the following information:
Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Fetal Monitoring Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on fetal monitoring market size, fetal monitoring market drivers and trends, fetal monitoring market major players, competitors’ revenues, market positioning, and market growth across geographies. The fetal monitoring market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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