(MENAFN- IMARC Group)
IMARC Group's report titled“ Neonatal Ventilator Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 “. The global neonatal ventilator market size reached US$ 397.6 Million in 202 2. Looking forward, IMARC Group expects the market to reach US$ 582.8 Million by 2028 , exhibiting a growth rate (CAGR) of 6.39% during 2023-2028.
Factors Affecting the Growth of the Global Neonatal Ventilator Industry:
. Increasing Prevalence of Preterm Births:
The neonatal ventilator market is significantly driven by the increasing prevalence of preterm births globally. Premature babies, born before the full term of pregnancy, often require respiratory support due to underdeveloped lungs. This condition necessitates the use of neonatal ventilators, which provide critical care in managing and supporting the respiratory function of these infants. According to the World Health Organization (WHO), an estimated 15 million babies are born preterm each year, accounting for approximately 1 in 10 of all babies born worldwide. This rising trend in preterm births escalates the demand for neonatal ventilators, contributing to the growth of the market. The need for advanced healthcare facilities and effective respiratory solutions for premature newborns underscores the importance of these medical devices in neonatal care.
. Technological Advancements:
Technological advancements in neonatal ventilators are another key factor propelling the market. Modern ventilators are increasingly equipped with sophisticated features like integrated monitoring systems, improved user interfaces, and modes that are more gentle on a neonate's delicate respiratory system. These improvements enhance the efficacy and safety of ventilators, making them more suitable for fragile neonates. Manufacturers are focusing on developing ventilators that minimize lung injury and provide optimal respiratory support. The integration of advanced technologies like artificial intelligence (AI) to monitor and adjust ventilation settings automatically has also contributed to this growth. This focus on innovation not only improves patient outcomes but also drives the adoption of these advanced devices in neonatal intensive care units (NICUs) across the world.
. Government Initiatives:
Government initiatives and funding for improving neonatal care infrastructure are crucial drivers of the neonatal ventilator market. Many countries have implemented policies and programs to enhance the quality of care for newborns, particularly in developing regions where the mortality rate of neonates is higher. Governments, along with various international health organizations, are investing in healthcare facilities, including NICUs, and providing financial support for the adoption of advanced medical equipment like neonatal ventilators. These initiatives aim to reduce infant mortality rates and improve the standard of care for newborns, thereby increasing the demand for neonatal ventilators. Additionally, training healthcare professionals in neonatal care and the operation of these ventilators is an integral part of these initiatives, further supporting market growth.
Request a PDF Sample for more detailed market insights:
Leading Companies Operating in the
Neonatal Ventilator Industry:
Air Liquide Medical Systems India (Air Liquide S.A) Airon Corporation Breas Medical AB (Shanghai Fosun Pharmaceutical Co. Ltd.) Drägerwerk AG & Co. KGaA Fisher & Paykel Healthcare Corporation Limited Getinge AB Hamilton Medical AG (Hamilton Bonaduz AG) Inspiration Healthcare Group plc Koninklijke Philips N.V. Medtronic plc Nihon Kohden Corporation ResMed Vyaire Medical Inc.
Neonatal Ventilator Market Report Segmentation:
Invasive accounted for the largest market share as it allows for precise control of airway pressure, oxygen levels, and ventilation parameters.
By Mobility Type:
Intensive Care Ventilators Portable and Transportable Ventilators Others
Portable and transportable ventilators represented the largest segment as they are designed to meet portability needs, allowing medical professionals to provide continuous respiratory support while moving the patient.
Pressure Mode Ventilation Combined Mode Ventilation Volume Mode Ventilation Others
Pressure mode ventilation is the most used mode as it allows for precise control over the pressure delivered to the neonate's lungs.
By End User:
Hospitals holds the largest market share as they have a highly trained and specialized healthcare workforce, including neonatologists, pediatricians, and respiratory therapists who are experienced in caring for critically ill neonates.
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
North America leads the market as the region boasts a well-developed and advanced healthcare infrastructure. This includes state-of-the-art hospitals, medical facilities, and research institutions that prioritize neonatal care.
Neonatal Ventilator Market Trends:
Neonatal ventilator manufacturers are continually innovating to develop more advanced and user-friendly devices. These innovations include enhanced ventilation modes, touchscreen interfaces, and improved monitoring capabilities. Besides, there is a growing demand for portable and transportable neonatal ventilators that allow for seamless transfer of neonates between different care settings, such as from the delivery room to the neonatal intensive care unit (NICU). Moreover, AI and machine learning are being integrated into neonatal ventilators to improve patient-specific ventilation strategies and enhance predictive analytics for early detection of complications.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
134 N 4th St. Brooklyn, NY 11249, USA
Email: No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.