NEONATAL VENTILATOR MARKET ANALYSIS

Neonatal Ventilator MarketSize and Trends

The Global Neonatal Ventilator Market is estimated to be valued at US$ 422.2 million in 2023 and is expected to exhibit a CAGR of 7.1 % during the forecast period (2023-2030).

Figure 1. Global Neonatal Ventilator Market Share (%), by Product Type, 2023

Among all the segmentations, the product type segment has the highest potential due to the increasing research and development activities across the world over the forecast period. For instance, on March 28, 2020, Shenzen Mindray Biomedical Electronics Co. Ltd, a China-based medical technology company got U.S. Food and Drug Administration approval for Mindray SV3000, a critical care ventilator for pediatrics and infants patients.

Global Neonatal Ventilator Market Cross Sectional Analysis:

Increase in research and development activities of invasive ventilators in Europe region is expected to drive growth of interface segment in this region. For instance, on September 30, 2020, Getinge AB, Sweden based healthcare technology company conducted research and development study on a new technology called Nava. It utilizes sensors to help the babies on vetilators to breathe more easily. Nava technology senses the breathing using catheter which is placed near the diaphragm. Electrodes on catheter senses contractions of diaphragm and sends signal to the ventilator to supply air. While when sensor senses end of diaphragmatic contractions, ventilator allows exhalation.

Market Trends

Increasing prevalence of respiratory diseases among neonates

The growing incidences of respiratory diseases among neonates are a major factor leading to the high demand for neonatal ventilators. For instance, according to the data published by Annals of Global Health on February 26, 2020, respiratory distress syndrome affects nearly 49.6% of neonates. While cases of transient tachypnea and pneumonia are nearly 22.1 % and 17.2 % respectively.

Introduction of newer mechanical ventilator products & accessories in market

The increasing research and development activities to invent newer mechanical ventilators or their accessories can drive the growth of the global neonatal ventilator market. For instance, on June 9, 2021, Medtronic, an Ireland-based medical device company, launched SonarMed, an airway monitoring system. This system provides audible alerts if obstruction or movement is seen in the tubes.