The Neonatal Ventilator market reached a valuation of US$ 413.37 Million in 2022. Furthermore, across the 2023-2033 period of assessment, growth is expected to accelerate at a 6.8% CAGR, reaching US$ 798.1 Million. A surge in demand for neonatal ventilators and improvements in currently practiced invasive respiratory support systems contribute toward growth of the market.
At present, there is a rise in the mortality rates of neonates due to pneumonia, tetanus, diarrhea, and birth asphyxia around the world. This, along with the growing number of preterm births with critical respiratory conditions, represents one of the key factors driving the market. Moreover, there is an increase in the development of enhanced neonatal intensive care unit (NICU) centers globally. This, coupled with the rising awareness among parents about the benefits of neonatal ventilators, is propelling the growth of the market.
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Besides, governments are undertaking initiatives to prevent and treat respiratory disorders worldwide. In line with this, the rising number of product approvals for neonatal ventilators by various government agencies is positively influencing the market. Apart from this, rapid technological advancements in neonatal ventilators, such as patient-triggered ventilation and ventricular tachycardia (VT) monitoring at the proximal airway, are bolstering the market growth.
Rising incidence of preterm births with respiratory disorders and mortality rates are expected to increase demand for neonatal ventilators, which in turn is expected to fuel the neonatal ventilator market growth over the forecast period. Preterm births is one of the leading causes of infant mortality, specifically due to respiratory failures in neonates. For instance, according to the World Health Organization report published in 2016, every year, about 15 million babies are born prematurely globally, and that is over one in 10 of all babies born across the globe.
Key Takeaways from the Market Study
According to Fact.MR, a CAGR of 3.2% was recorded for the Neonatal Ventilator market from 2017-2022
- In FY 2023, the Neonatal Ventilator market reached a valuation of US$ 413.37 Million
- The market is likely to register a Y-o-Y growth rate of 6.0% in 2023
- By Product Type, the Invasive Neonatal Ventilators Segment is expected to dominate the market, documenting a 6.6% value CAGR
- As per Fact.MR’s projections, the market for Neonatal Ventilator in North America will likely expand at a 6.6% CAGR
- The Neonatal Ventilator market in Asia Pacific is expected to expand at an 6.5% CAGR
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Prominent players in the Neonatal Ventilator Industry are taking advantage of the rapidly increasing demand for the Neonatal Ventilator in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale players. Some prominent market developments are as follows:
- In January 2022, ICU Medical completed the acquisition of Smiths Medical. This acquisition helped ICU to expand its product portfolio in the intensive care department, including the addition of syringe and ambulatory pumps, peripheral IV catheters, and respiratory equipment.
- In October 2021, Movair launched Luisa, a portable and life-supporting ventilator with high-flow oxygen therapy in the United States. The device can be used in homes, hospitals, or institutions.
Prominent Neonatal Ventilator Service Players
- Smith Medical
- Medtronic Plc.
- Phillips Respironics
- Breas Medical
- Drager Medical
- Hamilton Medical
- GE Healthcare
- Air Liquide
- Hamilton Medical
- Breas Medical
- Drägerwerk AG & Co. KGaA
- General Electric Company
- Koninklijke Philips N.V.
- Getinge AB
- Smiths Medical, Inc.
- Fisher & Paykel Healthcare Limited
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Key Segments Covered in the Neonatal Ventilator Industry Survey
- By Product Type:
- Invasive Neonatal Ventilator
- Non-Invasive Neonatal Ventilator
- Hybrid Neonatal Ventilator
- By End-User:
- Neonatal Clinics
- Nursing Homes
- Other End Users
- By Modality:
- Portable Devices
- Transportable Devices
- Standalone Devices
- By Region:
- North America
- Latin America
- Middle East & Africa
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global Neonatal Ventilator market, presenting historical analysis from 2017 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of product type (invasive neonatal ventilator, non-invasive neonatal ventilator, and hybrid neonatal ventilator), by end-user (hospitals, neonatal clinics, nursing homes, and other end user), by modality (portable devices, transportable devices, and standalone devices), across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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