The Neonatal Ventilator market reached a valuation of US$ 413.37 Million in 2022. Furthermore, across the 2023-2033 period of assessment, growth is expected to accelerate at a 6.8% CAGR, reaching US$ 798.1 Million. A surge in demand for neonatal ventilators and improvements in currently practiced invasive respiratory support systems contribute toward growth of the market.
At present, there is a rise in the mortality rates of neonates due to pneumonia, tetanus, diarrhea, and birth asphyxia around the world. This, along with the growing number of preterm births with critical respiratory conditions, represents one of the key factors driving the market. Moreover, there is an increase in the development of enhanced neonatal intensive care unit (NICU) centers globally. This, coupled with the rising awareness among parents about the benefits of neonatal ventilators, is propelling the growth of the market.
Download Sample Copy of This Report –
Besides, governments are undertaking initiatives to prevent and treat respiratory disorders worldwide. In line with this, the rising number of product approvals for neonatal ventilators by various government agencies is positively influencing the market. Apart from this, rapid technological advancements in neonatal ventilators, such as patient-triggered ventilation and ventricular tachycardia (VT) monitoring at the proximal airway, are bolstering the market growth.
Rising incidence of preterm births with respiratory disorders and mortality rates are expected to increase demand for neonatal ventilators, which in turn is expected to fuel the neonatal ventilator market growth over the forecast period. Preterm births is one of the leading causes of infant mortality, specifically due to respiratory failures in neonates. For instance, according to the World Health Organization report published in 2016, every year, about 15 million babies are born prematurely globally, and that is over one in 10 of all babies born across the globe.
Key Takeaways from the Market Study
Get Customization on this Report for Specific Research Solutions –
Prominent players in the Neonatal Ventilator Industry are taking advantage of the rapidly increasing demand for the Neonatal Ventilator in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale players. Some prominent market developments are as follows:
Prominent Neonatal Ventilator Service Players
Get Free Access of Complete Report –
Key Segments Covered in the Neonatal Ventilator Industry Survey
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global Neonatal Ventilator market, presenting historical analysis from 2017 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of product type (invasive neonatal ventilator, non-invasive neonatal ventilator, and hybrid neonatal ventilator), by end-user (hospitals, neonatal clinics, nursing homes, and other end user), by modality (portable devices, transportable devices, and standalone devices), across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Check out more related studies published by Fact.MR Research:
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That’s why focus on offering insights that can actually make a difference to bottom-lines.
Specialties: Competition Tracking, Customized Research, Syndicated Research, Investment Research, Social Media Research, Business Intelligence, Industry Analysis, Thought Leadership.