Portable Neonatal Ventilator Segment to Dominate the Global Neonatal Ventilator Industry, expanding at a CAGR of 6.5% by 2032, Fact.MR Report
09 Nov 2022
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An Upsurge In The Number Of Preterm Births With Respiratory Problems Is One Of The Major Factors That Is Expected To Boost The Growth Of The Neonatal Ventilator Market Over The Analysis Period
ROCKVILLE, Md., Nov. 9, 2022 /PRNewswire/ -- 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
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
Phillips Respironics
ResMed
Maquet
VYAIRE
Drägerwerk AG & Co. KGaA
Koninklijke Philips N.V.
ResMed,
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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:
Hospitals
Other End Users
By Modality:
Portable Devices
Transportable Devices
Standalone Devices
By Region:
North America
Europe
Latin America
Japan
APEJ
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).
Check out more related studies published by Fact.MR:
Non-invasive Ventilator Market - The growing prevalence of respiratory disorders is expected to be a major factor driving the growth of the non-invasive ventilator market over the forecast period. According to WHO, around 65 million people have moderate to serve chronic obstructive pulmonary disease (CPOD), globally. The global market for non-invasive ventilators is expected to witness moderate growth over the forecast period. The electric non-invasive ventilators segment is expected grow at the highest CAGR over the forecast period in the non-invasive ventilator market.
High Frequency Ventilators Market - High frequency ventilators are pivotal in providing breathing assistance in premature babies and improving their survival rate due to their capability to provide ventilation with high breathing rate. By product type, oscillating high frequency ventilators are widely used due to their high end efficiency in providing ventilation with desired breathing rate. By end user, hospitals are expected to be the dominant segment in the high frequency ventilators market due the higher number of births in inpatient settings.
Veterinary Respiratory Ventilators Market - Growing pet adoption and reimbursement in regions such as the U.S. and Europe are the major factors driving the growth of the global veterinary respiratory ventilators market. Technological advancements in veterinary respiratory ventilators are further driving the demand for the product in matured markets. Advanced features such as adjustable tidal volume, control over respiratory rate, inspiratory time and pressure, etc., make electro-pneumatic ventilators the choice of equipment for veterinary physicians.
About Fact.MR
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That's why focus on offering insights that can actually make a difference to bottom-lines.
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