Neonatal Ventilator Market

The global neonatal ventilator market size was valued at $328.65 million in 2019, and is projected to reach $555.80 million by 2027, registering a CAGR of 6.7% from 2020 to 2027. A ventilator is a medical device routinely used in medical settings to provide mechanical assistance in exchange for oxygen and carbon dioxide. This process is also known as artificial respiration. It is a machine designed to facilitate breathable air into and out of the lungs, to provide breathing assistance for a patient who is physically unable to breathe, or is breathing insufficiently. Ventilators used for treating neonates are termed as neonatal ventilators.

Increase in neonate mortality rates along with rise in number of preterm births with respiratory conditions, technical improvements in neonatal ventilators, upsurge in number of product approvals for these neonatal ventilators, development of well-equipped neonatal intensive care unit (NICU) centers, introduction of non-invasive ventilators are the key factors that drive the growth of the global neonatal ventilator market. In addition, surge in demand for neonatal ventilators, growth in awareness among healthcare professionals about neonatal ventilators, improvement in currently practiced invasive respiratory support systems, and upsurge in government initiatives towards prevention along with effective treatment of respiratory disorders, rise in adoption of advanced neonatal ventilator by hospitals are other end users contribute toward growth of the market. Nevertheless, high cost of neonatal ventilators and stringent regulatory requirements are expected to hinder the growth of the neonatal ventilator market.  

COVID-19 Impact

The outbreak of COVID-19 has disrupted workflows in the health care sector around the world. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of health care. However, there has also been a positive effect and growth in demand for various medical services, including intensive care units (beds and ventilators for neonates and adults) and personal protective equipment for healthcare. The demand for neonatal ventilators has witnessed a significant growth during COVID-19 pandemic owing to surge in implementation of neonatal ventilators to COVID-19 infected neonates and adult patients, across the globe during this pandemic crisis. Moreover, the neonatal ventilator market witnessed a drift in product availability, owing to the lack of neonatal ventilators in many countries. Therefore, several major players namely Getinge AB, GE Healthcare, Hamilton Medical, Medtronic, and Smiths Group are pushing for the development and distribution of as many ventilators as possible around the globe to increase the production of neonatal ventilators to ramp up the battle of COVID-19 pandemic.

Type Segment Review

On the basis of type of ventilation, the neonatal ventilator market is bifurcated into invasive and non-invasive ventilations. Invasive ventilators are mostly used inside hospitals and ICUs and are not movable. Presently, invasive segment dominates the global neonatal ventilator market in 2019, and is anticipated to continue this trend during the forecast period. However, noninvasive neonatal ventilators are movable and are used in hospitals as well as home care settings. The non-invasive ventilation segment is expected to grow at highest 7.2% CAGR during the forecast, owing to its cost-effectiveness, better tolerance, and convenience than invasive ventilation as well as easier availability outside ICU settings.

End User Segment Review

By end user, the neonatal ventilator market is segregated into hospitals and clinics. The hospitals segment dominated the market in 2019, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to the preference among individuals for hospitals due to availability of advanced neonatal ventilators as compared to clinics. Moreover, increase in number of hospitals and rise in demand for ventilators is highest as major proportion of births happens in hospital settings will drive neonatal ventilator market growth.

Region segment review

North America accounted for a major share in the neonatal ventilator market in 2019, and is expected to maintain its dominance during the forecast period, owing to increase in awareness and government expenditure in the healthcare industry and adoption of advanced neonatal ventilation technology for emergency as well as regular use. Furthermore, large number of ICU beds, huge patient population in need of ventilation, increase in prevalence of respiratory diseases, and rise in demand for advanced healthcare facilities are contributing toward growth of the market. Moreover, higher number of R&D activities to develop novel neonatal ventilators, availability of favorable government policies, and presence of major players operating in the countries in this region are other factors that fuel the growth of the neonatal ventilator market. 

However, Asia-Pacific is expected to register highest CAGR of 10.0% from 2020 to 2027, owing to increase in birth rate and surge in cases of preterm births, development of new healthcare facilities, and improved healthcare policies promoting better care provision. Key players profiled in the report include Vyaire Medical Inc., Carl Reiner GmbH, Draegerwerk AG & Co. KGaA, Fritz Stephan GmbH, General Electric Company (GE Healthcare), Getinge AB, Hamilton Medical AG, Inspiration Healthcare Group plc (SLE Limited), Medtronic Plc. and Smiths Group Plc.

Key Benefits For Stakeholders

• This report provides a detailed quantitative analysis of the current neonatal ventilator market trends and forecast estimations from 2019 to 2027, which assists to identify the prevailing market opportunities. 
• An in-depth neonatal ventilator market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
• A comprehensive analysis of factors that drive and restrain the growth of the global is provided.
• The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2027, in terms of value.
• An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
• Key market players within the neonatal ventilator market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of the global neonatal ventilator market.

 Neonatal Ventilator Market Report Highlights