LONDON, Jan. 16, 2023 (GLOBE NEWSWIRE) — Business Research Company’s research on the Newborn Infant Care market predicts the increase in the number of preterm babies as the main driver of the neonatal care market. A premature birth is the birth of a child before the 37th week of pregnancy. Newborn care is necessary for premature babies and sick babies with diseases because it provides safe and suitable conditions for the growth of the newborn. For example, according to the Centers for Disease Control and Prevention (CDC), a US-based national health agency, the preterm birth rate increased from 10.09 in 2020 to 10.48 in 2021. Furthermore, according to Tommy’s, a UK-based charity organization , which researches the causes of miscarriage, stillbirth and preterm birth, the proportion of live births with a gestational length of less than 24 weeks was 0.15% in 2019. Around 8% of births in the UK in 2019 were preterm, which equates to around 60,000 babies each year. Hence, the increasing number of preterm births is driving the growth of the neonatal care market.

The global market size for neonatal care is expected to grow $2.67 billion in 2022 to $2.91 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war has, at least in the short term, disrupted the chances of a global economic recovery from the COVID-19 pandemic. The war between these two countries has resulted in economic sanctions against several countries, a surge in commodity prices and supply chain disruptions, leading to inflation in goods and services and affecting many markets around the world. The size of the newborn care market is expected to grow $3.92 billion in 2027 at a CAGR of 7.8%.

Learn more in detail on the Infant care in newborns market

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