Neonatal Ventilators Are Estimated to Witness High Growth 2030

The 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 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Neonatal ventilators are life-saving medical devices used for providing respiratory support to newborn babies who are unable to breathe adequately due to underdeveloped lungs. They are especially useful in providing ventilation support to preterm infants suffering from respiratory distress syndrome. Ventilators deliver pressurized air/oxygen into the lungs using different modes such as conventional ventilation, high-frequency ventilation, and non-invasive ventilation. Market Dynamics: The neonatal ventilator market is primarily driven by the rising prevalence of preterm births around the world. According to the World Health Organization (WHO), an estimated 15 million babies are born preterm each year, which account for more than 1 in 10 births globally. Preterm infants have immature lungs and are at high risk of respiratory distress syndrome that requires respiratory support through ventilators. Additionally, technological advancements in ventilator design aimed at providing optimal respiratory support to newborns are also fueling the market growth. For instance, development of non-invasive ventilation techniques has reduced the need for endotracheal intubation. SWOT Analysis Strength: Neonatal ventilators help sustain and support breathing in newborns who are not able to breathe normally. They are lightweight, portable devices that help deliver precise breaths and support the respiratory needs of premature and critically ill infants. Some neonatal ventilators come with advanced monitoring and alarm settings to closely track the baby's condition. Weakness: Neonatal ventilators are expensive medical devices and the cost of ventilation can be prohibitive for many families and hospitals in developing regions. The setup and operation of ventilators also requires intensive training for healthcare professionals. Opportunity: Growing preterm birth rates globally increase the potential patient pool for neonatal ventilators. According to the WHO, an estimated 15 million babies are born preterm each year. Developing regions also represent significant untapped markets due to increasing investments to strengthen neonatal care. Threats: Low reimbursement policies pose challenges to the adoption of advanced ventilation therapies. Constant pressure to reduce healthcare costs can affect the pricing and uptake of high-end ventilators. The outbreak of epidemic/pandemic diseases may disrupt the supply chain of ventilator components. 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 preterm births worldwide. According to the WHO, prematurity is the leading cause of death among children under 5 years of age, being responsible for approximately 1 million deaths in 2015. Regional analysis North America dominates the neonatal ventilators market currently due to presence of advanced healthcare facilities. Asia Pacific is expected to grow at a higher CAGR owing to rising healthcare expenditures and improving access to advanced treatments. Many Asian countries are focusing on reducing neonatal mortality by strengthening ventilator support in NICUs. 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. Philips Respironics and Medtronic Plc hold a significant revenue share currently due to their expanded ventilation product portfolios and global sales networks.