Growing Prevalence of Respiratory Disease Will Accelerate the Growth of the Global Neonatal Ventilator Market

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The world is facing an unexpected change and many of the industries are experiencing thought provoking situations due to the COVID-19 pandemic. The COVID-19 outbreak has positively impacted the neonatal ventilator market. The world health organization (WHO), as part of integrated public health policy, has suggested that age group of 40 and above will face serious respiratory problems due to coronavirus infection. Also, these patients should be treated with ventilators to overcome these problems. Thereby, most of the manufacturers in the medical industry are merging their businesses with ventilator manufacturers to produce a greater number of ventilators and overcome lack of ventilators. Moreover, there have been growing government initiatives to support the business during the COVID-19 pandemic. During this coronavirus crisis situation, we are helping our clients in understanding the impact of COVID-19 on the neonatal ventilator market. 

Our report includes:

• Technological Impact
• Social Impact
• Investment Opportunity Analysis
• Pre- & Post-COVID Market Scenario
• Infrastructure Analysis
• Supply Side & Demand Side Impact

According to a new report published by Research Dive, the global neonatal ventilator market is anticipated to generate revenue of $495.3 million by 2026, at a CAGR of 7.1% in the forecast time from 2019 to 2026. The global market segmentation has been done on the basis of product type, mobility type, and mode of ventilation, end-user, technology, and region. The report provides detailed information about drivers, opportunities, restraints, segmental analysis and competitive players of the market. As per our analysts, increasing aged population, high prevalence of smoking, development of healthcare centers, and increased attentiveness regarding development of technologies among doctors are significantly driving the growth of the market. However, improper reimbursement situation, complication associated with the use of ventilators, and confrontation from physicians for equipment transitions, and high cost associated with ventilators are expected to hinder the RO water treatment system componentsmarket growth.

Non-Invasive Ventilation Segment has a Dominant Market Share

Based on product type, the overall market is segmented into invasive and non-invasive ventilation. Among these, non-invasive ventilation dominated the market in the year 2018 and is expected to register for $163.5 million in 2026. Rising adoption of non-invasive ventilators owing to its beneficial properties such as decreased cost, convenient to use, availability outside of ICU, not requiring skilled employees to operate, and increased tolerance are major factors that will accelerate the growth of the market in the projected time.  

High Frequency Ventilators Will Grow at a Significant Rate throughout the Forecast Years

On the basis of technology, the neonatal ventilator market is classified into mechanical ventilator, high frequency ventilator, volume targeted ventilator, and hybrid ventilator. The market for high frequency ventilator will witness to rise at a faster rate of 7.9% CAGR and is predicted to register for $147.3 million till the end of 2026. Increased oxygenation, amplitude, fresh gas flow, and decreased frequency, are expected to drive the need of high frequency ventilator; this factor will fuel the market size in the forecast time. Mechanical ventilator technology segment accounted for an evident market size and is projected to experience considerable growth during the forecast time. 

Combined Mode of Ventilation Will Grow at a Significant Rate throughout the Forecast Years

On the basis of mode of ventilation, the neonatal ventilator market is classified into pressure mode, combined mode, volume mode, and others. The market for combined mode ventilation will witness to rise at a faster rate of 7.7% CAGR and is predicted to register for $93.3 million till the end of 2026. Increased versatility, safe usage, auto PEEP, decreased need of human manipulation, reduced time for mechanical ventilation, and prevention from causing Tachypnea, are expected to drive the need of combined mode of ventilation; this factor will fuel the market size in the forecast time. Pressure mode of ventilation segment accounted for an evident market size and is projected to experience considerable growth during the forecast time. 

Clinical End-use Segment Will Grow at a Significant Rate throughout the Forecast Years

On the basis of end-use of ventilators, the neonatal ventilator market is classified into hospitals, clinics, ambulatory surgical centers, and others. The market for clinical end-use will witness to rise at a faster rate of 8.1% CAGR and is predicted to register $64.1 million till the end of 2026. Increased versatility, safe usage, auto PEEP, decreased need of human manipulation, reduced time for mechanical ventilation, and prevention from causing Tachypnea, are expected to drive the need of combined mode of ventilation; this factor will fuel the market size in the forecast time. Pressure mode of ventilation segment accounted for an evident market size and is projected to experience considerable growth during the forecast time. 

Portable/Transportable Ventilator Segment Will Grow at a Significant Rate Throughout the Forecast Years

On the basis of mobility type of ventilator, the neonatal ventilator market is classified into intensive care ventilators and portable/transportable ventilators. The market for portable/transportable ventilator will witness to rise at a faster rate of 7.7% CAGR and is predicted to register for $181.3 million till the end of 2026. Intensive care ventilators are widely used owing to beneficial factors such as proximal flow sensor that increases the precision of measurement, leak compensation, and advanced installation of caps are expected to drive the need of portable/transportable ventilator; these factors will fuel the market size in the forecast time. 

Regional Outlook and Major Market Players

North America market has dominated the global market share, and is estimated to reach up to $247.6 million till 2026. This dominance is attributed due to high purchase power, government initiatives, and technological advancement in North America. North America neonatal ventilator market will experience a noteworthy growth and projected to generate revenue of $247.6 million by the end of 2026, at a CAGR of 7.5%. This expected rise is majorly due to development and well equipped NICU centers supported by mounting number of ventilator devices approvals from FDA. North America was followed by Asia-Pacific to account for an evident market size and is projected to experience considerable growth during the forecast time.

The most prominent players in the global neonatal ventilator market include Philips Healthcare, Becton, ResMed, Drager, Hamilton Medical Devices, Fisher & Paykel, Allied Healthcare Products, Smiths Medical, Air Liquide Medical Devices, Getinge AB, and others.