New York, USA, Dec. 02, 2020 (GLOBE NEWSWIRE) -- As per a Research Dive published report, the global neonatal ventilator market valued for $288.6 million in 2018 and is expected to surpass $474.0 million, exhibiting a CAGR of 6.4% in the forecast period from 2019 to 2026.

Market Dynamics

As per our analysts, the growing awareness regarding the available treatments for chronic respiratory diseases and increasing technological advancements in healthcare infrastructure especially in developing countries are the major factors predicted to propel the growth of the global neonatal ventilator market. In addition, rising disposable income and government support regarding effective treatment of respiratory diseases are other factors expected to drive the market growth. However, lack of skilled practitioners and high costs associated with neonatal ventilators is projected to hamper the global market growth in the near future.

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Invasive Ventilator Segment to be Most Lucrative

By product, the global market is segmented into invasive ventilator and non-invasive ventilator. Of these, the invasive ventilator segment is estimated to grow at 6.2% CAGR during the forecast period, owing to wide usage of invasive neonatal ventilators in newborn baby ICUs.

High-frequency Ventilator Segment to Grow at Higher CAGR

By technology, the global market is categorized into mechanical ventilators, high-frequency ventilators, volume targeted ventilators, and hybrid ventilators. Among these, the high-frequency ventilator segment is predicted to rise at a CAGR of 7.2% from 2019 to 2026. The higher growth of this segment is mainly due to its rising demand in the recent years as they offer effective treatment to the neonates in several clinical situations.

Pressure Mode Segment to Witness Significant Growth

By mode of ventilation, the global market is segmented into pressure mode, combined mode, volume mode combination, and others. Among these, the pressure mode segment accounted for $86.6 million in 2018 and is expected to witness considerable growth by 2026. This is majorly because pressure mode is the most preferred mode of ventilation across hospitals.

Hospitals Segment to be Most Profitable

By end use, the overall market is segmented across ambulatory surgical centers, hospitals, clinics, and others. Of these, the hospitals segment is estimated to hold a dominant share in the global industry during the forecast period. The dominance of this segment is mainly because hospitals are highly preferred area of application in both developed as well as developing nations.

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Asia Pacific Region to Witness Swift Growth

By region, the global industry is divided into Asia Pacific, North America, LAMEA, and Europe. The Asia Pacific market for neonatal ventilator is expected to witness a rapid growth over the forecast period, owing to the rising expansions of hospitals & clinics in the region.

Major Market Players

The key players operating in the global neonatal ventilator market include -

  1. Carefusion
  2. Resmed
  3. Medtronic Plc
  4. Phillips Respironics
  5. Hamilton Medical
  6. Smith Medical
  7. Breas Medical
  8. Drager Medical
  9. GE Healthcare
  10. Maquet

Further, the report presents and outlines several aspects of these key players such as recent strategic moves & developments, business performance, SWOT analysis, and product portfolio. Quick Download Top Companies Development Strategies Summary Report

Collaborations, partnerships, and novel product launches are some of the growth strategies adopted by these key players to obtain a leading position in the global industry. For instance, in November 2019, Nihon Kohden announced the launch of new ‘NKV-550’ series ventilator system for adults and neonates. This new ventilator is specifically designed for easy transition between high-flow oxygen therapy, non-invasive ventilation, and invasive ventilation.

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Mr. Abhishek Paliwal
Research Dive
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