Global Neonatal Ventilator Market Will Surpass $474.0 Million, and Rise at 6.4% CAGR by 2026 - Research Dive

As per the new report by Research Dive, the global neonatal ventilator market is all set to grow at a 6.4% CAGR, and will generate a revenue of $474.0 million during the forecast period. The market has been segmented on the basis of product, technology, mode of ventilation, end use, and region. The report offers thorough insights on vital segments, drivers & restraints, and prominent players of the neonatal ventilator market. As per our analysts, rising demand for neonatal ventilators is a significant factor driving the growth of global neonatal ventilator market. The rising demand is mainly due to the increasing number of deaths of preterm neonates, and growing chronic respiratory diseases in the preterm babies. Increasing awareness about treatments for chronic respiratory diseases, technological advancements in healthcare infrastructure in the emerging economies are some other factors responsible for the market growth. However, shortage of better healthcare infrastructure, lack of skilled practitioners, and low budget for healthcare amenities will hinder the market growth.

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Invasive Ventilator to be Most Lucrative

Based on product type, the report is classified into invasive and non-invasive ventilation. The market size for invasive neonatal ventilator will register a substantial growth during the period of forecast with 6.3% and $327.7 million revenue. This is mainly due to its wide range of usage in preterm invasive care units, intensive care units. On the other hand, the non-invasive neonatal ventilator segment is forecasted to surpass $156.3 million with a 7.5% CAGR by the end of 2026.

High Frequency Ventilators to Gain Popularity

On the basis of technology, the global neonatal ventilator market is segmented into mechanical ventilators, volume targeted ventilators, high frequency ventilators, and hybrid ventilators. The mechanical ventilators segment dominated the global market for neonatal ventilator with the largest market share in 2018. Additionally, the high-frequency ventilator segment will have a prominent growth in the future and is expected to grow at a higher CAGR of 7.2%, and will surpass $140.9 million by the end of 2026. These ventilators provide effective and safe treatment to the neonates in various clinical situations, and hence it is in high demand from users.

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Pressure Mode Ventilation Remains Most Preferred by Hospitals

Based on mode of ventilation, the report is segmented into pressure mode, combined mode, volume mode combination, and others. The pressure mode ventilator segment accounted for $86.6 million in 2018, and will reach up to $145.4 million and 6.7% CAGR during the period of forecast. The growing prevalence of respiratory failure in the newborns is likely to be the key growth factor for the global market. Besides, the combined mode segment is expected to be to grow at 7.0% CAGR and will reach up to $89.2 million by the end of 2026. Combined mode ventilation reduces the risk of breathing problem and lung injury in preterm births.

Hospitals Segment to Continue its Dominance

On the basis of end-use, the global neonatal ventilator market is classified into hospitals, clinics, ambulatory surgical centers, and others. The hospitals segment is likely to continue its dominance throughout the forecast period. It is expected to grow at a CAGR of 7.0% and will generate a revenue of $322.2 million by 2026. Along with hospitals, the clinics segment will experience a robust growth during the period of forecast, and is anticipated to reach $61.3 million by 2026. Asia-Pacific neonatal ventilator market is anticipated to grow rapidly with 7.0% CAGR, and will reach up to $114.0 million by the end of 2026. This is mainly due to the rapid growth in the product consumption in hospital and clinical end-users. The North America market dominated the global market in 2018, and will witness a substantial market growth of 6.8% and generate a revenue of $236.9 million by 2026.

Top Players of the Market

The prominent players of the global market for neonatal ventilator include Smith Medical, Medtronic Plc, Phillips Respironics, Breas Medical, CareFusion, Drager Medical, ResMed, Maquet, Hamilton Medical, and GE Healthcare. In December 2019, Hamilton Medical upgraded its hardware "Hamilton C6 Ventilator", to make the product more user friendly for the users. The advanced features of the product allow the users to personalize the patient's ventilation therapy. The key players are taking efforts on R&D activities to improve their position in the global market.

Mr. Abhishek Paliwal
Research Dive
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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