Neonatal ventilator market

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Neonatal Ventilator Market, by Product Type (Intensive Care System and Portable System), by Interface (Invasive and Non-invasive), by End User (Hospitals, Ambulatory Surgical Centers, Long Term Care Centers, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

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Jul 2023
CMI3556
178 Pages
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Medical Devices

Summary

The Global Neonatal Ventilator Market is estimated to be valued at US$ 422.2 million in 2023 and is expected to exhibit a CAGR of 7.1 % during the forecast period (2023-2030).

Analysts’ Views on Global Neonatal Ventilator Market :

Increasing number of premature births, rising prevalence of respiratory disorders, and increasing cases of child mortality are expected to boost the growth of the global neonatal ventilator market over the forecast period. For instance, according to data published by the World Health Organization on May 10, 2023, an estimated 13.4 million babies were born preterm in 2020. Preterm birth complications are the leading cause of death among children. The rate of preterm birth was nearly 4-16% of babies born in 2020.

Figure 1. Global Neonatal Ventilator Market Share (%), by Product Type, 2023

Global Neonatal Ventilator Market – Driver

Increasing prevalence of respiratory diseases among neonates

The growing incidences of respiratory diseases among neonates are a major factor leading to the high demand for neonatal ventilators. For instance, according to the data published by Annals of Global Health on February 26, 2020, respiratory distress syndrome affects nearly 49.6% of neonates. While cases of transient tachypnea and pneumonia are nearly 22.1 % and 17.2 % respectively.

Introduction of newer mechanical ventilator products & accessories in market

The increasing research and development activities to invent newer mechanical ventilators or their accessories can drive the growth of the global neonatal ventilator market. For instance, on June 9, 2021, Medtronic, an Ireland-based medical device company, launched SonarMed, an airway monitoring system. This system provides audible alerts if obstruction or movement is seen in the tubes.

Figure 2. Global Neonatal Ventilator Market Value (US$ Million), by Region, 2023

Global Neonatal Ventilator Market - Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global neonatal ventilator market over the forecast period. This is due to the increasing number of respiratory diseases in infants in the U.S. For instance, according to the data published by American Lung Association on October 20, 2021, every year an estimated 58,000 children are hospitalized. Respiratory syncytial virus (RSV) is the leading cause of hospitalization in all infants. One or two of every 100 infants under six months of age are diagnosed with RSV and required to hospitalized due to severe illness.

Global Neonatal Ventilator Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a positive impact on the global neonatal ventilator market. This is because of the increased implementation of ventilators. According to an article published in The Journal of Pediatric Research, COVID-19 infection was more common in preterm babies. There was incidence rate of 18.4 per 10,000 cases of COVID in babies born preterm. As compared to incidence rate of just 4.9 per 10,000 cases in term babies.

Neonatal Ventilator Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2023:	US$ 422.2 Mn
Historical Data for:	2018 to 2021	Forecast Period:	2023 to 2030
Forecast Period 2023 to 2030 CAGR:	7.1 %	2030 Value Projection:	US$ 683.2 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Product Type: Intensive care system, Portable system By Interface: Invasive, Non-invasive By End user: Hospitals, Ambulatory surgical centers, Long term care centers, Others
Companies covered:	Philips Respironics, Nihon Kohden Corporation, Medtronic Plc, GE Healthcare, CareFusion, ResMed, Hamilton Medical, Drägerwerk AG & Co. KGaA, Smith Medical, Breas Medical, and Becton, Dickson and Company.
Growth Drivers:	Prevalence of neonatal respiratory diseases Launches of new products
Restraints & Challenges:	High cost of neonatal ventilators Lack of awareness about the neonatal ventilators

Global Neonatal Ventilator Market Segmentation:

The global neonatal ventilator market report is segmented into product type, interface, end user, and region.

By Product Type, the market is segmented into intensive care systems and portable systems. Out of which, the portable segment is expected to hold a dominant position in the global neonatal ventilator market during the forecast period and this is attributed to easy movement during emergency conditions.

By Interface, the market is segmented into invasive and non-invasive. Out of which, the non-invasive segment is expected to hold a dominant position in the global neonatal ventilator market during the forecast period and this is attributed to the reduced risk associated with non-invasive ventilators.

By End user, the market is segmented into Hospitals, Ambulatory Surgical Centers, Long Term Care Centers, and Others. Out of which, the Hospital segment is expected to dominate the market over the forecast period and this is attributed to the availability of ventilators in hospitals.

Among all the segmentations, the product type segment has the highest potential due to the increasing research and development activities across the world over the forecast period. For instance, on March 28, 2020, Shenzen Mindray Biomedical Electronics Co. Ltd, a China-based medical technology company got U.S. Food and Drug Administration approval for Mindray SV3000, a critical care ventilator for pediatrics and infants patients.

Global Neonatal Ventilator Market Cross Sectional Analysis:

Increase in research and development activities of invasive ventilators in Europe region is expected to drive growth of interface segment in this region. For instance, on September 30, 2020, Getinge AB, Sweden based healthcare technology company conducted research and development study on a new technology called Nava. It utilizes sensors to help the babies on vetilators to breathe more easily. Nava technology senses the breathing using catheter which is placed near the diaphragm. Electrodes on catheter senses contractions of diaphragm and sends signal to the ventilator to supply air. While when sensor senses end of diaphragmatic contractions, ventilator allows exhalation.

Global Neonatal Ventilator Market : Key Developments

On October 11, 2021, Movair, U.S. based medical technological manufacturer, announced the commercial launch of Luisa, a life-supporting ventilator with high-flow oxygen therapy. This advanced ventilator is intended for use in homes, institutions, hospitals, or portable applications for both invasive and non-invasive ventilation for patients with chronic and acute respiratory conditions that require long-term ventilation.

On September 4, 2020, the U.S. Centers for Medicare & Medicaid Services removed non-invasive ventilators from round 2021 of the durable medical Equipment, Prosthetics, Orthotics, and Supplies (DMEPOS) Competitive Bidding Program due to the COVID-19 pandemic. With this removal of non-invasive ventilators from round 2021, any medicare enrolled DMEPOS supplier can furnish any type of ventilators covered under this program.

On October 27, 2021, European Conference on Pediatric and Neonatal Mechanical Ventilation (EPNV) was organized as a joint meeting with European Conference on Paediatric and Neonatal Cardiac Intensive Care in Switzerland. It includes guest speaking on topics related to ventilation and respiratory failure in newborns and children.

On January 30, 2020, Nihon Kohden Corporation, Japan based medical device company launched new NKV-550 series Ventilator system, suitable for patients of all ages, from neonates to adults. It can work as invasive ventilation, noninvasive ventilation as well as high-flow oxygen therapy according to a patient’s respiratory support needs without having to change devices.

Global Neonatal Ventilator Market: Key Trends

On June 7, 2020, the U.S. Centers for Medicare & Medicaid Services updated its policy to remove the same or similar restrictions on ventilators. Same or similar denials happen when suppliers submit a claim for an item that a Medicare beneficiary already rents or owns that is still within its reasonable and useful timeline, usually about five years. Same or similar restrictions were precluding many patients from qualifying for a multi-functional ventilator if they have previously billed for oxygen, nebulizer device, etc. This restriction were removed to increase access to integrated respiratory care for ventilator users. This will give access to the benefits of respiratory cure to ventilator users.

On May 2, 2023, Medtronic, an Ireland-based medical technology and services company, initiated the recall of Puritan Bennet 980 series ventilators due to manufacturing errors. It is a class I recall event, the most serious one but not yet stated any reports of patient injuries or death.

Global Neonatal Ventilator Market: Restraint

High prices of neonatal ventilators

The cost of treatment associated with neonatal ventilators is very high. As it is an expensive method, this can restrain the growth of the global neonatal ventilator market. For instance, according to an article published by The Journal of Maternal-Fetal & Neonatal Medicine, on July 2021, the duration of a neonatal intensive care unit and hospital stay may vary from a few days to a few weeks or a few months. This long stay increases the cost of neonatal care. The cost of NICU stay varies from US$ 90 to US$ 1,250-2,500 per day as per various studies, depending on the level of care and sickness of admitted infants. In developing countries, parents bear these charges.

This restrain can be overcome by the introduction of newer government reimbursement policies that can help parents financially.

Lack of awareness about the neonatal ventilators

The World Health Organization is recommending the use of ventilators in premature babies with respiratory distress. But there are several barriers like lack of awareness that are restraining the growth of this market. For instance, According to a article published in the Journal of Public Health Review, on April 28, 2020 reliable availability of equipment, properly informed caregivers, and staffing shortages are the main barriers to the use of neonatal ventilators in the Saharan Africa region. The factors were identified in 17 studies including neonates who received bubble continuous positive airway pressure treatment as supporting breathing in newborns with respiratory distress. It was obtained after discussing with health facilities in the sub-Saharan district.

This can be overcome by arranging seminars, and workshops for healthcare professionals as well as for caregivers.

Global Neonatal Ventilator Market - Key Players

Major players operating in the global neonatal ventilator market include Philips Respironics, Nihon Kohden Corporation, Medtronic Plc, GE Healthcare, CareFusion, ResMed, Hamilton Medical, Drägerwerk AG & Co. KGaA, Smith Medical, Breas Medical, and Becton, Dickson and Company.

Definition: A ventilator is a medical device commonly used in medical settings to provide a mechanical exchange for oxygen and carbon dioxide. This process is also known as artificial respiration. Ventilators, which are used during the treatment of neonates are known as neonatal ventilators. Neonatal respiratory failures are majorly treated with the help of neonatal ventilators. Neonatal ventilators are designed to facilitate air supply into and out of the lungs of patients, who are physically unable to breathe.

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- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the Global Neonatal Ventilator Market during the forecast period (2023-2030)?

The global neonatal ventilator market is estimated to be valued at US$ 422.2 million in 2023 and is expected to exhibit a CAGR of 7.1 % between 2023 and 2030.

What are the major factors driving the market growth?

The increasing prevalence of neonatal respiratory diseases worldwide is expected to drive the market growth.

Which is the leading segment in the market?

Product type is the leading segment in the market.

What are the key factors hampering the growth of the market?

High costs of neonatal ventilators is expected to hinder the market over the forecast period.

Which are the major players operating in the market?

Major players operating in the market include Philips Respironics, Nihon Kohden Corporation, Medtronic Plc, GE Healthcare, CareFusion, ResMed, Hamilton Medical, Drägerwerk AG & Co. KGaA, Smith Medical, Breas Medical, and Becton, Dickson and Company.