Neonatal Ventilators Market Analysis By Emerging Trends, Future Growth Forecast To 2025
Increasing episodes of preterm births and the rising prevalence of respiratory malfunctions in new-born infants will influence the demand for neonatal ventilators. Technical advances to improve the airway interface for neonates and the rapid expansion of the healthcare sector in developing economies will significantly add impetus to the overall business landscape through the next few years.
Leading neonatal ventilator manufacturers are extending their product offerings across the untapped high potential countries across the world to cater to the unmet consumer demands while driving significant sales. The ongoing COVID-19 pandemic has also significantly influenced the deployment of neonatal ventilators. GE Healthcare, Philips Respironics, Breas Medical, Maquet, CareFusion, Smith Medical, ResMed, and Drager are some of the global providers of the equipment.
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As per a research report by GMI, the global neonatal ventilators market size will cross USD 466.1 million in yearly estimations by 2025.
Consistent adoption of invasive ventilators
Invasive neonatal ventilators are extensively utilized and exhibit higher adoption to cater to specific respiratory ailments in infants. This market segment is expected to strike a 7% CAGR over the coming years. They are used widely in developed economies with the launch of advanced non-invasive airway interfaces. However, the ease of access and affordable costs associated with traditional invasive mechanical ventilators will register substantial profits over the noninvasive system.
Revenue share for the market from portable/transportable ventilators reach more than USD 114.4 million in 2018. This can be owed to benefits like the ease of use and reliability as well as the simple and intuitive settings associated with these vents. Furthermore, developments like cutting-edge technological solutions will escalate neonatal ventilation management.
Advanced ventilation in ambulatory centers
Demand for volume targeted ventilators in the global industry will witness a 6.7% CAGR through 2025 as they offer advanced solutions to effectively render neonatal care. The global deployment will be impacted by the gradual rise in neonatal care demand in developed economies as well as occurrence of certain respiratory disorders among newly-borns.
Ambulatory surgical centers offer superlative and efficient neonatal ventilator settings in the global healthcare sector and the application of neonatal vents across these facilities will contribute a significant share. Furthermore, the rising popularity of neonatal care in developing economies and the substantial number of ambulatory centers in high-income nations will stimulate product consumption.
Canada and Brazil to emerge as prominent markets
Canada neonatal ventilators industry will record a CAGR of 6.5% through the coming years with the rising deployment of non-invasive ventilators and the surge in the number of installations of these systems. This can be owed to the advancements in the healthcare settings across the region to help in the efficient functioning of advanced neonatal ventilators.
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Brazil is one of the major consumers of neonatal ventilators and the regional industry contributed to more than USD 11.6 million in 2018 considering the presence of multiple growth indicators to address the unmet consumer requirements in the country. Increasing per capita income levels and the developments in the healthcare businesses will augment regional consumption.
The absence of proper infrastructure in developing and under-developed nations has led to disrupted neonatal ventilator installations across the healthcare facilities. The prevalence of this issue and the higher ventilator costs may hamper the market forecast in the limited resource economies.