A ventilator is a respiratory appliance that provides mechanical oxygen and carbon dioxide transport in medical environments. Artificial respiration is another name for this method. Neonatal ventilators are ventilators that are used during the treatment of new-borns. Neonatal ventilators are the most common treatment for neonatal respiratory failure. Neonatal ventilators are intended to help patients who are medically unable to breathe get oxygen into and out of their lungs.
In 2019, the neonatal ventilator market is estimated to be worth US$ 322.5 million, growing at a CAGR of 7.1 percent during the forecast period (2019-2027).
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The neonatal ventilator market is projected to rise due to the increasing prevalence of preterm births and respiratory failure in new-borns.
Increasing prevalence of preterm births with respiratory disorders and mortality rates are projected to boost demand for neonatal ventilators, propelling the neonatal ventilator market forward during the forecast period. Preterm delivery is one of the leading causes of child death, with respiratory failures in neonates being one of the most common causes. According to a study released by the World Health Organization in 2016, about 15 million babies are born prematurely each year around the world, accounting for more than one in ten of all babies born.
One of the major factors projected to drive the neonatal ventilator market growth over the forecast period is the introduction of non-invasive ventilators. By optimizing oxygenation and alveolar ventilation, non-invasive ventilators help to improve neonatal survival rates. These ventilators will also improve patient compliance, minimize infection risk, speed up recovery time, and reduce hospital stays. Nihon Kohden introduced the NKV-550 series ventilator system for neonates and adult patients in November 2019. The new ventilator is built to make switching between invasive, non-invasive, and high-flow oxygen therapy easy.
During the forecast period, high costs for neonatal ventilators are likely to stifle adoption rates in a number of countries around the world, limiting demand expansion. Furthermore, the lack of proper healthcare facilities to ensure the ventilators operate smoothly is likely to stymie demand development in low-income countries.
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Manufacturers of neonatal ventilators are expanding into North America, which is expected to boost market growth.
Several manufacturers of neonatal ventilators are expanding their global presence. Due to the rising number of neonates in the region suffering from chronic respiratory failure diseases, North America dominated the neonatal ventilator market over the forecast period. According to WHO reports, the preterm birth rate in the United States increased by 2% in 2018, and this trend is expected to continue over the forecast period.
Furthermore, the market’s growth is expected to be aided by an increase in product launches by key players over the forecast period. Maquet Medical Systems USA introduced the Servo-n, a dedicated neonatal intensive care ventilator, in January 2016.
Furthermore, the neonatal ventilator market in Asia Pacific is projected to rise significantly over the forecast period. The Indian neonatal ventilator market is projected to be driven by technical advances in the field of non-invasive neonatal ventilators, an increasing population of neonates, and economic growth in the healthcare industry over the forecast period.
Key companies contributing in the neonatal ventilator market are ResMed, Hamilton Medical, GE Healthcare, Becton, Philips Respironics, Medtronic Plc, Breas Medical, Drägerwerk AG & Co., Nihon Kohden Corporation, Dickson and Company, CareFusion, KGaA, and Smith Medical.
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- Current and future of global Neonatal Ventilator market outlook in the developed and emerging markets
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- The latest developments, market shares, and strategies that are employed by the major market players
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Important Features and Key Highlights of the Market:-
- Detailed overview of market application and advantages.
- Understand the technologies support, Solution, Services. Understand the evaluation of dynamic growth.
- The in-depth market information of competitors, revenue, and cost structure.
- Strategies of key players, the competitive landscape.
- Historical data, current trend, and market volume and value.
- Industry restrains drivers and opportunities.
- product Development and offerings Key insights.
- Potential Application covers extensive analysis of emerging trends
Frequently Asked Questions
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