April 20, 2020
As per the report titled ‘Neonatal Ventilators Market Size By Product By Mobility, By Technology, By Mode, By End-use Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, global neonatal ventilators market is projected to surpass USD 466.1 million by the year 2025.
Increasing preterm births in tandem with rising incidences of respiratory malfunctions in neonates is driving the growth of neonatal ventilators market. Advancements in technologies pertaining to airway interfaces for neonates is expected to present new growth opportunities. Moreover, improving healthcare infrastructure in developing countries such as India will elevate the product demand over the next five years. On the contrary, high cost of these ventilators coupled with lack of proper healthcare infrastructure to support advanced ventilators in developing and under-developed countries will result in a sluggish market growth during the forecast period.
Based on the product, invasive ventilation segment is estimated to expand with 7% CAGR during the estimated timeframe. Increasing product adoption owing to its use in specific respiratory conditions, along with growing availability and affordability of conventional invasive mechanical ventilators is fueling the segment growth. However, due to emergence of advanced non-invasive airway interfaces in developed nations, non-invasive ventilation segment is slated to grow momentously in the coming years
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In terms of mobility, portable/transportable ventilators segment accrued USD 114.4 million in 2018 and is anticipated to gain considerable traction during the analysis period. The growth can be attributed to recent technological advancements in portable neonatal ventilation such as high standardized technology with simple and intuitive user interface.
Elaborating on the technology scope, volume targeted ventilators segment is poised to observe gains of 6.7% over the study period. Growing adoption of advanced volume targeted ventilators aids medical professionals in drastically increasing the effectiveness of neonatal care.
Speaking of the end-user spectrum, ambulatory surgical centers segment is witnessing an accelerated growth owing to various outpatient services by these settings which is positively affecting the demand for neonatal ventilators.
Considering the geographical landscape, Brazil neonatal ventilators market was worth USD 11.6 million in 2018 and is expected to gain substantial revenue share in the forthcoming years. Improving healthcare infrastructure and increasing consumer expenditure on healthcare are supporting the growth of neonatal ventilators market in Brazil.
Air Liquide, Breas Medical, Becton Dickinson (CareFusion Corporation), Drägerwerk AG & Co. KGaA, HAMILTON MEDICAL, GE Healthcare, Koninklijke Philips N.V, Medtronic PLC, MAQUET (Getinge Group), Smiths Medical, and ResMed Inc. are the key players in neonatal ventilators market.
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