Neonatal Ventilator Market

Neonatal Ventilator Market Outlook (2022-2032)

The neonatal ventilator market reached a valuation of US$ 387.05 Million by 2021, and is likely to register a Y-o-Y growth rate of 6.0% in 2022, closing at US$ 413.37 Million. Furthermore, across the 2023-2033 period of assessment, growth is expected to accelerate at a whopping 6.8% CAGR, reaching US$ 798.1 Million.

A 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.

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.

Report Attributes	Details
Anticipated Base Year Value (2021)	US$ 387.05 Million
Expected Market Value (2022)	US$ 413.37 Million
Projected Forecast Value (2032)	US$ 798.1 Million
Global Growth Rate (2022-2032)	6.8% CAGR
Expected Growth Rate of the North American Market (2022-2032)	6.6% CAGR
Anticipated Growth Rate of the Asia Pacific Market (2022-2032)	6.5% CAGR
Prominent Neonatal Ventilator Service Players	Smith Medical Medtronic Plc. Phillips Respironics Breas Medical CareFusion Drager Medical ResMed Maquet Hamilton Medical GE Healthcare

2017-2021 Revenue Analysis of Neonatal Ventilator Market vs. Growth Outlook 2022-2032

According to Fact.MR’s report, Neonatal Ventilator demand exhibited a CAGR of over 3.2% from 2017 to 2021, topping US$ 362.41 Million as of 2021. 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. In addition, the increasing utilization of non-invasive ventilators in the healthcare industry to reduce hypercapnia and improve oxygenation and dyspnea is offering lucrative growth opportunities to industry investors.

Besides this, governments of several countries 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.

Key Market Drivers Influencing Neonatal Ventilator Industry Expansion

Advent of Technological Innovations, Mobility and Aesthetics to Propel Market Growth Prospects

The increase in the trend of semiconductor and bioelectronics technology has supplemented the development of circuits that consume less power and smaller batteries. The portability of neonatal ventilators is improved by having batteries with a small size and a long backup time. As a result, these devices have gradually replaced traditional ventilators over the past few years. Due to this, the market has experienced an increased demand for sophisticated and portable neonatal ventilators.

Advents in technology with regards to non-invasive methods and improvements in currently practiced invasive respiratory support system should fuel adoptions rates in developed as well as certain areas in developing nations. Non-invasive ventilators aid in improving the survival rate of neonates by enhancing oxygenation and alveolar ventilation. These ventilators have the ability to increase patient compliance, reduce risk of infection, faster recovery time, and shorter hospital stays.

For instance, in November 2019, Nihon Kohden launched new NKV-550 series ventilator system for neonates and adult patients. The new ventilator is designed for easy transition between invasive ventilation, non-invasive ventilation, and high-flow oxygen therapy.

Rise in the Number of Preterm Births to fuel 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 globel.

Key Challenges encountered by Neonatal Ventilator Industry

High Cost Associated with Neonatal Ventilators to Hamper the Market Growth

The high cost of neonatal ventilators, especially the non-invasive devices is one of the major factors that is anticipated to impede the adoption rates in under-developed and certain developing countries. High price factor will continue to restrain market growth over the forecast timeframe. In addition, lack of required infrastructure to conduct smooth operating of ventilators hinders market growth in resource-poor regions.

Stringent Regulatory Requirements to Hinder the Market Growth

Lack of adequate healthcare infrastructure to conduct smooth operating of ventilators are expected to hinder the market growth in lower income economies. Also, the stringent regulatory requirements are expected to hinder the growth of the neonatal ventilator market. Further, lack of clinical evidence to support novel technology is another factor that is expected to limit the market growth over the analysis period.

Region-wise Analysis

How will North America Perform in the Global Neonatal Ventilator Industry Landscape?

Increase in Government Expenditure to Boost the Regional Market Growth

North America accounted for a major share in the neonatal ventilator market in 2021, 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.

Several neonatal ventilators manufacturers are expanding their presence across the globe. North America held the dominant position in neonatal ventilator market during the forecast period, owing to the increasing number of neonates affected with chronic respiratory failure diseases in the region. For instance, according to the WHO reports in 2018, the U.S. witnessed a 2% increase in the preterm birth rate, which is expected to further increase over the analysis period.

Moreover, increasing product launches by key players is expected to boost growth of the market over the forecast period. For instance, in January 2016, Maquet Medical Systems USA launched new intensive care ventilator ‘Servo-n’, which is a dedicated neonatal intensive care solution. According to Fact.MR, North America is expected to expand at a CAGR of 6.6% until 2032.

How will the Growth of Neonatal Ventilator Market Escalate across Asia Pacific?

Development of Healthcare Facilities to Enhance the Market Prospects

Asia-Pacific Neonatal Ventilator Market is expected to register a significant revenue share during the forecast period, 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.

Factors such as technological innovations in the field of non-invasive neonatal ventilators, growing population of neonates, and economic growing investments in healthcare industry is expected to drive the neonatal ventilator market in the Asia Pacific region over the forecast period.

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 regional market.

Additionally, 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. According to Fact.MR, Asia Pacific is expected to expand at a CAGR of 6.5% until 2032.

Region-wise Forecast CAGRs for the Neonatal Ventilator Market

Region	CAGR
North America	6.6%
Asia Pacific	6.5%
Latin America	6.1%
Europe	6.3%
Middle East & Africa	6.0%

Category-wise Insights

Which is the Most Sought-after Product Type Category?

Increased Demand of Invasive Neonatal Ventilators to Boost the Segment’s Growth

In terms of product type, invasive neonatal ventilator segment is prospective to earn greater traction, expanding at a CAGR of 6.6% over the forecast period.

Invasive ventilators are mostly used inside hospitals and ICUs and are not movable. the invasive ventilator segment is expected to dominate the global neonatal ventilator market 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.

Which Segment to Remain Dominant in the Modality Category?

Portable Ventilators Segment to Enhance Growth Prospects

According to Fact.MR’s data, preference for portable neonatal ventilator is expected to expand at a CAGR of 6.5% over the forecast period. This can be attributed to the rising adoption of these ventilators due to a proximal flow sensor for precise measurements, intellitrig leak compensation, and ease of use. The transport of neonates within the hospital setting is a common event that exposes patients to risks normally not encountered in the stationary environment.

As per the study of neonatal transports conducted by NICU, almost 43.8% of neonates who suffer from respiratory disorders need ventilation support during transport, which portable neonatal ventilators can eliminate. The device will transform ventilatory care through its small size, portability, ease of use, versatility, and extended battery life. By costing as little as one-third of other ICU ventilators and offering both invasive and noninvasive capabilities, the device is ideally suited, regardless of location or severity. These factors are expected to drive the segment’s market.

Neonatal Ventilator Market- Competitive Landscape

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 vendors. Some prominent market developments are as follows:

• In January 2022, ICU Medical completed the acquisition of Smiths Medical. This acquisition helped ICU to expand its product portfolio in the intensive care department, including the addition of syringe and ambulatory pumps, peripheral IV catheters, and respiratory equipment.
• In October 2021, Movair launched Luisa, a portable and life-supporting ventilator with high-flow oxygen therapy in the United States. The device can be used in homes, hospitals, or institutions.

Key Segments Covered in the Neonatal Ventilator Industry Survey

• By Product Type :

  • Invasive Neonatal Ventilator
  • Non-Invasive Neonatal Ventilator
  • Hybrid Neonatal Ventilator

• by End-User :

  • Hospitals
  • Neonatal Clinics
  • Nursing Homes
  • Other End Users

• By Modality :

  • Portable Devices
  • Transportable Devices
  • Standalone Devices

• By Region :

  • North America
  • Europe
  • Latin America
  • Japan
  • APEJ
  • Middle East & Africa