July 14, 2024

Rising prevalence of preterm births expected to boost the growth of Neonatal Ventilator Market

The global Neonatal Ventilator Market is estimated to be valued at US$ 422.2 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Neonatal ventilators are life-support devices that are used to assist or replace spontaneous breathing in preterm and critically ill newborn infants. These devices help in the treatment of various respiratory disorders such as respiratory distress syndrome, pneumonia, and congenital malformations that affect respiration in newborns and infants. Technological advancements in neonatal ventilators, increasing rate of preterm births, and rising cases of respiratory problems among infants are some of the major factors expected to drive the market growth.

Market key trends:
One of the key trends witnessed in the global neonatal ventilator market is the growing adoption of non-invasive ventilation. Various technological advancements have been made to neonatal ventilators to enable non-invasive ventilation. Non-invasive ventilation reduces complications associated with invasive ventilation and improves clinical outcomes of preterm infants. It also improves survival rates. Hence, manufacturers are focusing on developing innovative non-invasive ventilators. Another major trend is the increasing adoption of portable and compact ventilators. Portable ventilators enable easy transportation of preterm infants within hospitals and outside critical care units. This factor is expected to propel the demand for portable neonatal ventilators over the forecast period.
Porter’s Analysis

Threat of new entrants: Low barrier for new players to enter the market as the technology used is relatively simple. However, established players have strong brand image and distribution networks which make it difficult for new players.

Bargaining power of buyers: Buyers have moderate bargaining power due to presence of many established manufacturers. However, needs of neonatal care make buyers dependent on constant supply of ventilators.

Bargaining power of suppliers: Suppliers have low bargaining power as raw materials used in ventilators such as plastic and electronic components are readily available.

Threat of new substitutes: No significant threat of substitutes exist as ventilators are irreplaceable in neonatal care.

Competitive rivalry: Intense competition due to presence of global as well as regional players differentiated based on product offerings and technological capabilities.

Key Takeaways

The global neonatal ventilator market is expected to witness high growth, exhibiting CAGR of 7.1% over the forecast period, due to increasing cases of preterm births and respiratory diseases among neonates.

Regionally, North America dominated the market and accounted for the largest revenue share in 2023 owing to high awareness, well-established healthcare infrastructure and growing number of preterm births in the US and Canada. However, Asia Pacific is expected to witness fastest growth during the forecast period supported by improving healthcare standards and increasing focus of international players.

Key players operating in the neonatal ventilator market are Philips Respironics, Nihon Kohden Corporation, Medtronic Plc, GE Healthcare, CareFusion, ResMed, Hamilton Medical, Dr├Ągerwerk AG & Co. KGaA, Smith Medical, Breas Medical, and Becton, Dickson and Company. Major players are focusing on new product launches and geographic expansion to strengthen their market position.