A three-pronged approach was followed for deducing the fetal and neonatal care equipment market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for fetal and neonatal care equipment market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of fetal and neonatal care equipment market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The fetal and neonatal care equipment market was categorized into three segments, namely product (Fetal Care Equipment, Neonatal Care Equipment), end-use (Hospitals, Clinics), region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)
The fetal and neonatal care equipment market was segmented into product, end-use, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The fetal and neonatal care equipment market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fourteen countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Japan; China; India; Brazil; Mexico; South Africa; Saudi Arabia.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The fetal and neonatal care equipment market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
GE Healthcare provides medical technologies and services to ensure improved patient care. It specializes in medical diagnostics, drug discovery, medical imaging & information technologies, patient monitoring systems, performance solution services, and biopharmaceutical manufacturing technologies. The company operates in three segments: healthcare systems, life sciences, and healthcare digital. GE Healthcare has operations in more than 140 countries worldwide.
Vyaire is a medical devices company that offers products under four categories: ventilation, airway management, respiratory diagnostics, and operative care. The company manufactures and markets around 27,000 products used for diagnosing, treating, and monitoring respiratory conditions. It markets products under brand names AirLife, Vital Signs, Viasys, Bear Medical Systems, Bird Corporation, Pulmonetic Systems, SensorMedics, and JAEGER, among others.
Nonin designs and manufactures noninvasive monitoring devices for individuals and healthcare professionals. The company is ISO 14001 certified and provides products in three categories - pulse oximetry, regional oximetry, and capnography, designed for use in hospitals & clinics, homecare, veterinary, eHealth, dentistry, and emergency medicine. It has a service center in Amsterdam, The Netherlands, and distributes products to consumers and healthcare professionals in more than 125 countries.
Atom Medical Corp. is a manufacturer and distributor of medical equipment. The company provides products in three categories: Neonatal & Premature Infant Equipment, Nursing Equipment, and Obstetrics Equipment. It has two manufacturing facilities in Japan and the Philippines. Atom Medical USA & Atomed Cebu, Inc. are affiliates of Atom Medical Corp., out of which Atom Medical USA serves as a sales base in North America and Atomed Cebu, Inc. runs a manufacturing facility of disposable medical products.
Maxtec (owned by Halma Plc, UK) is a manufacturer of oxygen delivery and analysis products. The company provides products in four categories-sensing, analysis, delivery, and others. It provides oxygen monitors and analyzers for both non-medical & medical applications and provides products for anesthesia, homecare, and hospital markets. Apart from products, the company also provides technical support and services such as repair, maintenance, product upgrade, and sensor replacement.
nice Neotech Medical Systems Pvt. Ltd. is a manufacturer of neonatal intensive care equipment. It provides products manufactured at its factory in Chennai, India, under four categories-respiratory care, neonatal care, reusable accessories, and disposable accessories. The company is ISO 9001 & ISO 13485 certified and its products are IEC 60601-1 compliant, which are exported to Malaysia, Bangladesh, Nepal, Vietnam, Sri Lanka, France, Belgium, Thailand, Kuwait, Japan, Saudi Arabia, Indonesia, Philippines, and Turkey.
Flexicare (Group) Limited is a manufacturer and supplier of medical devices. The company provides products for airway management, resuscitation, urology, ventilation, oxygen therapy, suction, and anesthesia. It has an international presence in around 105 countries through its subsidiaries in Malaysia, the Middle East, South Korea, India, Europe, Australia, China, and the U.S. and appointed distributors apart from being a major supplier to the NHS.
ICU Medical, Inc. is a manufacturer of medical devices used in critical care applications and vascular therapy. The company provides products focused on infusion therapy, oncology, critical care, and specialty. It manufactures its products at four facilities located in Utah, Texas, Costa Rica, and Mexico. Its primary customers include wholesalers, ambulatory clinics, acute care hospitals, and other site facilities, such as home healthcare providers, clinics, and long-term care facilities. The product distribution is carried out using its three owned distribution centers-Los Angeles, California; King of Prussia, Pennsylvania; and Dallas, Texas, as well as through private distributors and direct sales to end-users.
Mölnlycke Health Care AB is a manufacturer of medical products. The company provides products under two categories-surgical and wound care. Its portfolio includes laparoscopic surgical instruments, biogel surgical gloves, surgical drapes, positioning systems, and wound irrigation systems, among others. It has a presence in around 100 countries and owns operations in more than 40 of them.
Neochild, LLC is an ISO 80369-certified manufacturer of medical devices. Its product portfolio includes urinary catheters, lumbar puncture needles, catheterization trays, enteral feeding supplies, syringe pump sets, and PICC insertion trays. The company has procured U.S. and Canadian patents for its products. It has a distribution center in Oklahoma City, Oklahoma, U.S.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2016 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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