Newark, New Castle, USA, June 18, 2023 (GLOBE NEWSWIRE) -- Growth Plus Reports estimated the size of the global market for neonatal ventilators and incubators in 2022 to be worth US$ 897.4 million, and it is expected that it will increase at a revenue CAGR of 7.2% to reach US$ 1,677.9 million by 2031.
The global market for neonatal ventilators and incubators was analyzed and expected to rise significantly in terms of revenue share during the forecast period. Devices called neonatal ventilators help infants breathe by giving them oxygen or air through a tube put in their windpipes.
Key Takeaways:
- The increasing number of preterm births is driving the market revenue share.
- The rising need for portable and compact devices is driving the market demand.
- There is strong competition from alternative treatment methods such as non-invasive respiratory support and kangaroo mother care.
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Neonatal Ventilators and Incubators Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 897.4 million |
| Revenue Forecast in 2031 | US$ 1,677.9 million |
| CAGR | 7.2% |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Type, Mobility, End user, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the Neonatal Ventilators and Incubators Market:
- In May 2022, Multipurpose non-invasive (NIV) ventilators with built-in humidifiers and oxygen therapy were introduced by Max Ventilator. In addition to being lightweight and easy to use, the new device from the company has several unique characteristics. The equipment costs only 25% as much as standard ventilators. According to the manufacturer, it is versatile because it may be used for both adult and neonatal care.
Competitive Landscape
The prominent players operating in the global market for neonatal ventilators and incubators include:
- Becton, Dickinson, and Company
- GE Healthcare
- Koninklijke Philips
- Medtronic
- Schiller
Market Drivers and Restraints:
The global neonatal ventilators and incubators market revenue is driven by the increasing prevalence of preterm births, and advanced technologies such as high-frequency oscillatory ventilation and bubble CPAP has significantly improved the efficacy and safety of neonatal ventilators and incubators.
However, due to the rising cost and strong competitors, the neonatal ventilators and incubators market revenue growth is expected to be restrained.
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Market Segmentation:
Segmentation By Type
Based on the types, the neonatal incubators segment dominates the global neonatal ventilators and incubators market with the largest revenue share. This sizable revenue share is attributed to the controlled environment provided by these incubators to maintain the temperature, reduce heat loss, monitor vital signs, limit exposure to noise and light, and maintain a controlled oxygen environment.
Segmentation By Mobility
Based on mobility, the portable/transportable devices segment dominates the global neonatal ventilators and incubators market with the largest revenue share. The significant revenue share is attributed to the easy setup making it easy to use in homes, neighborhood hospitals, and ambulances.
Segmentation By End User
Based on end-user, the hospital's segment accounts for the highest revenue share in the global neonatal ventilators and incubators market because they provide a secure environment with access to medical knowledge and resources for both mother and child, hospitals are the preferred location for giving birth.
Regional Growth Dynamics
Based on the region, North America, with the largest revenue share, dominates the global neonatal ventilators and incubators market. With many hospitals, medical facilities, and newborn care facilities, North America has a well-established healthcare infrastructure. As more infants are being born prematurely or with respiratory issues that require intensive care, this has increased the demand for neonatal ventilators and incubators.
Report Coverage
Growth Plus Reports analyzed the global market for neonatal ventilators and incubators in-depth. We studied the fundamental market characteristics, significant investment sectors, regional growth analytics, revenue estimates, competing market players, and mergers and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- Reimbursement Scenario
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL NEONATAL VENTILATORS AND INCUBATORS MARKET - ANALYSIS & FORECAST, BY TYPE
- Neonatal Ventilators
- Invasive Neonatal Ventilators
- Non-invasive Neonatal Ventilators
- Neonatal Incubators
- Transport Incubators
- Intensive Care Incubators
- Neonatal Ventilators
- GLOBAL NEONATAL VENTILATORS AND INCUBATORS MARKET - ANALYSIS & FORECAST, BY MOBILITY
- Intensive Care
- Portable/Transportable
- Others
- GLOBAL NEONATAL VENTILATORS AND INCUBATORS MARKET - ANALYSIS & FORECAST, BY END USER
- Hospitals
- Pediatric & Neonatal Intensive Care Units
- Others
NEONATAL VENTILATORS AND INCUBATORS MARKET TOC
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- Winning imperatives
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