Neonatal Intensive Care Unit (NICU) Ventilators is fastest growing segment fueling the growth of Neonatal Ventilator Market

 

The global Neonatal Ventilator Market is estimated to be valued at US$ 422.2 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Neonatal ventilators are life-sustaining medical devices used in neonatal intensive care units (NICUs) to provide mechanical ventilation for extremely premature infants or newborns who cannot breathe effectively on their own. The devices deliver heated and humidified gas to the lungs through small tubes inserted in the baby's mouth, nose or trachea. They are important medical equipment used for newborn babies with respiratory distress syndrome, pulmonary hypertension or other lung conditions.

Market key trends:
One of the key trends in the neonatal ventilator market is the growing focus on customized and non-invasive ventilation. Traditional neonatal ventilators used for invasive ventilation have limitations such as risk of bronchopulmonary dysplasia and adverse complications. Increasing focus of manufacturers on developing customized and non-invasive ventilation devices addressing the individual needs of neonates is expected to support the market growth over the forecast period. For instance, VentriForecast from Ventritex focuses on non-invasive respiratory support that adapts ventilation based on an infant's breathing patterns and effort, thereby minimizing lung injury.
Here is the segment analysis and key takeaways for the given neonatal ventilator market:

Segment Analysis

The global neonatal ventilator market is segmented by product, modality, end user and region. Based on product, the market is divided into invasive ventilators and non-invasive ventilators. Among these, the non-invasive ventilators segment dominates the market due to the ease of use of non-invasive methods for neonatal ventilation. Based on modality, the neonatal ventilator market is bifurcated into portable/transportable ventilators and intensive care ventilators. The intensive care ventilators segment accounts for the largest share as they are majorly utilized in neonatal intensive care units.

Key Takeaways

The global neonatal ventilator market is expected to witness high growth, exhibiting CAGR of 7.1% over the forecast period, due to increasing prevalence of preterm births and respiratory diseases among neonates.

Regional analysis: North America dominates the global market currently and is expected to continue its dominance over the forecast period. This is attributed to the increasing healthcare expenditure and advanced healthcare infrastructure in the region. Asia Pacific is expected to witness the fastest growth during the analysis period owing to improving healthcare facilities and rising medical tourism in countries like China and India.

Key players: Key players operating in the neonatal ventilator market are Philips Respironics, Nihon Kohden Corporation, Medtronic Plc, GE Healthcare, CareFusion, ResMed, Hamilton Medical, Drägerwerk AG & Co. KGaA, Smith Medical, Breas Medical, and Becton, Dickson and Company. These players are focusing on new product launches and geographical expansion to strengthen their market presence.

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