The global neonatal ventilators market size is estimated at 555.80 million USD with a CAGR of 6.8% during the forecasted period from 2021-2028. A medical device mainly used in the medical settings to offer mechanical exchange of carbon dioxide and oxygen is known as ventilator. This method is also termed as artificial respiration ventilators. The neonatal respiratory failures are mainly treated with the help of neonatal ventilators. This ventilators are designed to simplify air supply into and out of the lungs of a patients, who are physically incapable to breathe.
Technological advancements, and increasing innovations experienced across the healthcare industry, with a number of innovative product offerings observed for neonatal ventilators by the market companies, this trend is anticipated to propel the market growth for neonatal ventilators market during the forecasted period.
On the other hand, high cost of devices, mainly non-invasive ones hampers adoption rates in under-developed and certain emerging countries. High cost factor will remain to restrain market development over the forecast period.
Product Market Overview
The neonatal ventilator market is largely dominated by the invasive ventilators category in 2018 owing to the fact that it is still a mainstream choice for neonate care. In fact, the invasive neonatal ventilator market valued over USD 230 million in 2018 and is slated to experience a rapid growth rate over the projection timeframe due to their wide use in newborn intensive units and high frequency of use. Mechanical ventilators being the mainstream interface in an invasive category is most widely used worldwide. On the other hand, non-invasive neonatal ventilators are gaining ground because of their rapidly spreading popularity because of being less invasive compared to traditional options. A notable proportion of newborns with respiratory disorders in developing countries are subject to CPAP; however, itâs seen that almost 70% of total neonates in developed countries are subject to CPAP devices.
With growing uptake in emerging nations, the non-invasive neonatal ventilators market is estimated to expand with CAGR of over 13% during the forecast period. Â Technological improvements have resulted in the introduction of novel devices and instruments that will help cut down the risk associated with neonatal care and will elevate the efficiency of neonatal ventilation.
Neonatal Ventilators Modality Overview
Based on modality, the market is segmented into intensive care unit ventilators and portable neonatal ventilators. Intensive care ventilatorsÂ market accounted for over USD 200 million by the end of 2018 and is forecast to grow at a robust rate in years to come. The rise in the number of preterm births will increase complications in infants. According to the World Health Organization (WHO), every passing year, around 15 million newborns across the world are born premature, and the trend will only continue in the future.
Portable neonatal ventilators market is forecast to experience robust growth of over 12.5% during the projection timeframe. These ventilators are easy to carry at the desired location in emergencies. Being handy, easy to carry with the long battery life will result in increasing rapid adoption, thus augmenting the demand for portable neonatal ventilators.
Neonatal Ventilators Technology Market Overview
Mechanical ventilators market accounted for notable market share with a market value of over USD 100 million in 2018. Mechanical ventilators are regarded as a vital device in providing life support neonates with respiratory problems. High-frequency ventilators (HFV) market is poised to witness robust growth of over 13% CAGR from 2019 to 2025. Aforementioned ventilators are gaining a reputation for providing effective outcomes in intense clinical situations. HFV are perceived to be safe, effective, and less invasive for infants. According to industry expert insights, HFV will continue to improve and become a mainstream component in infant care in the near future, resulting in market growth.
Regional Market Overview
United States neonatal ventilators market held the largest market share in North America as well as a global industry. In 2018, U.S. neonatal ventilator market valued over USD 150 million, accounting for nearly 50% of global market value. Being the oldest market place and early adopter of modern technology, the market in this part of the world is most lucrative. Over the projection period, relatively low demand for neonatal ventilators is anticipated across the U.S owing to the fact that a large proportion of healthcare facilities has installed ventilators.
On the other side of the world, China neonatal ventilators market is poised to expand at an exceptional rate due to high birth rates, healthcare sectors expansion, development of new facilities and the rising popularity of private clinics in tier 1 cities. A large unmet need for neonate care is waiting to be addressed by advanced ventilators. As a result, the market is expected to witness growth, especially in tier 1 cities of the country.
Key Industry Participants
CareFusion, Medtronic, GE Healthcare, Hamilton Medical, Smith Medical, Phillips Respironics, Drager Medical, ResMed, Breas Medical and MAQUET are major industry players operating in neonatal ventilators market. New technology-based products, geographic expansion, mergers, and acquisitions are some of the major strategies implemented by companies to gain market share
- Market by product:
- Invasive ventilators
- Non-invasive ventilators
- By Modality
- Intensive care ventilators
- Portable ventilators
- By Technology
- Mechanical Ventilators
- High-Frequency Ventilators
- Volume Targeted Ventilators
- Hybrid Ventilators
- By Mode
- Pressure Mode Ventilation
- Combined Mode Ventilation
- Volume Mode Ventilation
- By End-User
- Ambulatory centers
- By region:
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East and Africa
- Latin America
- Rest of Latin America
The rising number of birth rates in developing countries
Increasing incidences of newborn respiratory problems
Technological advancements in neonatal ventilators
Lack of clinical evidence in support of novel technology
High cost associated with neonatal ventilators
Huge untapped market potential in emerging economies