Neonatal Ventilator Market is expected to grow at a CAGR of 7.1% during the forecasted period | Evolve Business Intelligence

As per the study initiated by Evolve Business Intelligence, the global Neonatal Ventilator Market size accounted for USD 422.8 million in 2022, growing at a CAGR of 7.1% from 2023 to 2033. The neonatal ventilator market refers to the market for ventilator devices specifically designed for newborn infants, especially those born prematurely or with respiratory issues. Neonatal ventilators are crucial medical devices used in neonatal intensive care units (NICUs) to provide respiratory support to newborns who may have difficulty breathing on their own. These ventilators are designed to deliver controlled and assisted ventilation, maintaining appropriate oxygen levels and assisting with the removal of carbon dioxide from the infant's lungs.

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The Neonatal Ventilator Market is primarily driven by the Growing Incidence of Premature Births. The global incidence of premature births is around 10%, with numbers rising due to various factors like maternal health issues, multiple pregnancies, and assisted reproductive technologies. Premature babies have weaker lungs and underdeveloped respiratory systems, making them more susceptible to breathing difficulties and requiring ventilation support.

Key Players
Some of the major Neonatal Ventilator Market players holding high market shares include
Inspiration Healthcare Group Plc (Sle Limited), Smiths Group Plc., Carl Reiner Gmbh, Draegerwerk Ag & Co. Kgaa, Vyaire Medical Inc. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Hamilton Medical Ag, Medtronic Plc.and General Electric Company.

Report Description: https://evolvebi.com/report/neonatal-ventilator-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

Segmental Analysis
Based on Type, the Neonatal Ventilator Market is segmented into Invasive and Non-invasive. Invasive segment dominates the global neonatal ventilator market. 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.

Based on End User, the Neonatal Ventilator Market is segmented into Hospitals and Clinics. The hospitals segment dominated the market. This is attributed to the preference among individuals for hospitals due to availability of advanced neonatal ventilators as compared to clinics. Moreover, increase in number of hospitals and rise in demand for ventilators is highest as major proportion of births happens in hospital settings will drive neonatal ventilator market growth.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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