Neonatal Ventilators and Incubators Market
Number of pages: 100 | Report Format: PDF | Published date: April 28, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
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 |
According to the deep-dive market assessment study by Growth Plus Reports, the global neonatal ventilators and incubators market was valued at US$ 897.4 million and is expected to register a revenue CAGR of 7.2% to reach US$ 1,677.9 million in 2031.
Neonatal Ventilators and Incubators Market Fundamentals
Neonatal ventilators are devices that assist newborns in breathing by supplying oxygen or air through a tube placed in the windpipe. Depending on the demands of the newborn, these machines can be configured to give various pressure and oxygen concentration levels. Utilizing a ventilator is meant to support the lungs until they are able to function on their own. Neonatal incubators are enclosed beds that help maintain a stable environment for premature infants. They are designed to provide warmth, humidity, and protection from infection, and to monitor the vital signs. Incubators can also be equipped with features such as phototherapy lights to treat jaundice and sensors to monitor the oxygen levels.
Advances in neonatal respiratory physiology have led to the development of more targeted ventilation as well as incubation strategies. For example, volume-targeted ventilation and pressure-regulated volume control ventilation can be tailored to individual patients’ needs to reduce the risk of lung injury and improve outcomes. Also, non-invasive ventilation techniques, such as high-flow nasal cannula and nasal continuous positive airway pressure (CPAP), are becoming increasingly popular for use in neonatal care. These techniques can reduce the need for invasive mechanical ventilation and its associated risks, such as lung injury and infection. Moreover, temperature control is crucial for premature and critically ill infants, and recent advancements in neonatal incubators have focused on improving temperature stability and reducing heat loss. Newer models may include features such as active humidification and thermal support to improve patient comfort and outcomes. Therefore, such recent developments in neonatal ventilation and incubation technologies are highlighting the need of value-centered care while assisting in improving outcomes for premature and critically sick infants.
[10]
Neonatal Ventilators and Incubators Market Dynamics
Preterm births, defined as babies born before 37 weeks of gestation, are a major driver for the neonatal ventilators and incubators market. Such patients often require specialized care in neonatal intensive care units (NICUs) and may need the assistance of ventilators and incubators to survive. According to the World Health Organization, an estimated fifteen million babies are born premature each year, with complications from premature birth being the leading cause of death among children under five years old. As a result, the demand for neonatal ventilators and incubators is expected to continue to rise in the coming years.
The development of more sophisticated neonatal ventilators and incubators that offer better respiratory assistance and temperature management for premature or critically sick babies has been made possible by advancements in medical technology. By reducing the danger of long-term problems like chronic lung disease and neurological deficits, these developments have also greatly increased the survival rates of preterm infants. Additionally, more neonatal care facilities are now available, as well as incubators and neonatal ventilators, thanks to rising healthcare spending, particularly in developing nations. The expansion of private healthcare institutions has also improved the neonatal ventilators and incubators market outlook. This presents a significant opportunity for manufacturers to expand their market presence and increase their revenue. Manufacturers have a great chance to take advantage of this and grow their market share and revenue.
Also, the market for neonatal ventilators and incubators is expected to grow due to the growing development of novel infant diagnostics techniques that aid in the early detection of complex disorders in new-born. Additionally, technological developments have produced incubators and new-born ventilators that are more effective and user-friendly, which has shown a lucrative opportunity in neonatal ventilators and incubators industry trend. In order to meet the rising demand, manufacturers are heavily investing in research and development to release new and enhanced products.
However, neonatal ventilators and incubators are expensive, and the excessive cost can be a barrier to access for many healthcare providers and patients. The inflated cost of these devices can also limit their availability in resource-constrained settings which is a major challenge for neonatal ventilators and incubators market.
Neonatal Ventilators and Incubators Market Ecosystem
This report provides the global neonatal ventilators and incubators market analysis in terms of revenue, market growth, market dynamics, regional landscape and overall competitive positioning of the major market players. The global neonatal ventilators and incubators market overview is analyzed from the following perspectives: type, mobility, end user, and region.
Neonatal Ventilators and Incubators Market by Type
[22]
Based on the types, the global neonatal ventilators and incubators market is segmented into neonatal ventilators and neonatal incubators. Neonatal ventilators are sub-segmented into invasive neonatal ventilators and non-invasive neonatal ventilators. Neonatal incubators are sub-segmented into transport incubators and intensive care incubators.
Neonatal incubators accounted for the largest revenue share of the global neonatal ventilators and incubators market in 2022. For premature and extremely critical infants who need a controlled environment to maintain their temperature and reduce heat loss, neonatal incubators are regarded as the gold standard of care. As a result, incubators are often utilized in neonatal intensive care units worldwide. Beyond regulating temperature, neonatal incubators can be used for a wide range of applications, such as providing a controlled oxygen environment, monitoring vital signs, and reducing exposure to noise and light. Beyond just controlling temperature, neonatal incubators can also be used to provide a regulated oxygen atmosphere, monitor vital signs, and limit exposure to noise and light. These incubators are essential for the survival of premature babies because they offer a sterile, secure environment that resembles the mother’s womb. Additionally, they let medical experts to precisely monitor and handle any potential issues that might develop in the first few months of a baby's life. They can also aid in preventing infections and other issues that may emerge in the early stages of life.
In comparison to incubators, neonatal ventilators are specialist equipment that require higher levels of expertise to operate and maintain. Since incubators are more commonly available in both large and small hospitals, they are often only seen in larger and more specialized neonatal units. Further, while incubators can be used for weeks or even months for preterm children who need prolonged hospital stays, neonatal ventilators are frequently only needed for a short time. As a result, hospitals and other end users might spend more on incubators than on ventilators, which improves the market growth in terms of neonatal ventilators and incubators market forecast.
Neonatal Ventilators and Incubators Market by Mobility
Based on the mobility the global neonatal ventilators and incubators market is segmented into intensive care, portable/transportable, and others.
The portable/transportable devices segment accounted for the largest revenue share of the global neonatal ventilators and incubators market in 2022. Portable and transportable neonatal ventilators and incubators have become crucial devices for providing appropriate treatment in a home setting as the need for home-based care for prematurely born and critically sick infants has increased. The portability of devices makes it easy to set them up at any place. There are many places where portable newborn ventilators and incubators can be used, including homes, neighborhood hospitals, and ambulances. This enables neonatal care to be provided with more flexibility, which may contribute to better patient outcomes. On the other hand, neonatal infants are increasingly being monitored remotely, enabling caregivers to check vital signs and modify incubator or ventilator settings without being physically present. Additionally, portable and transportable neonatal ventilators and incubators are often less expensive than their larger counterparts, making them a more cost-effective option for hospitals and home-care providers.
Neonatal Ventilators and Incubators Market by End User
Based on the end users the global neonatal ventilators and incubators market is segmented into hospitals, pediatric & neonatal intensive care units, and others.
The hospitals accounted for a significant revenue share of the global neonatal ventilators and incubators market in 2022. Neonatal care is primarily offered by hospitals, and the demand has been growing because of factors like increased premature birth rates and growing recognition of the value of early intervention. Hospitals are the preferred place for childbirth because they offer a safe and secure environment for both the mother and the baby, with access to medical expertise and resources. To satisfy the healthcare needs of premature and infants with complicated medical issues, hospitals are equipped with specialized neonatal ventilators and incubators. These gadgets contain advanced amenities and abilities that are crucial for giving neonatal infants top-notch treatment. Due to the availability of sufficient funding, hospitals have access to the most recent technologies and resources needed for newborn care, including recently advanced medical devices.
Neonatal Ventilators and Incubators Market by Region
Based on the region, the global neonatal ventilators and incubators market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest revenue share of the global neonatal ventilators and incubators market in 2022. North America has a well-established healthcare infrastructure, with a high number of hospitals, medical centers, and specialized neonatal care facilities. This has led to an increase in demand for neonatal ventilators and incubators, as more babies are being born prematurely or with respiratory problems that require intensive care. The dominance of the area in the newborn ventilators and incubators market has also been attributed to the existence of significant market players in North America. To accommodate the rising demand, businesses have made significant investments in creating innovative and cutting-edge products in North America.
Neonatal Ventilators and Incubators Market Competitive Landscape
Multiple companies across the globe are investing in raising awareness and reimbursement, which is expected to improve the neonatal ventilators and incubators market outlook. Notable market participants account for the largest revenue share of the global neonatal ventilators and incubators market include,
Neonatal Ventilators and Incubators Market Strategic Developments
Neonatal ventilators and incubators are devices that assist a newborn in breathing by supplying oxygen or air through a tube placed in the windpipe; and enclosed beds that help maintain a stable environment for premature infants, respectively.
Neonatal incubators accounted for the largest revenue share of the global neonatal ventilators and incubators market.
Increasing premature births and respiratory problems in newborns are the major driving factors for the growth of global neonatal ventilators and incubators market.
Key companies operating the global neonatal ventilators and incubators market are Drägerwerk AG & Co. KGaA, ResMed, Inspiration Healthcare, Stephan, Hamilton, Air Liquide Medical Systems, Medi Electronics, and Getinge AB.
The global neonatal ventilators and incubators market is expected to grow at a revenue CAGR of 7.2% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain
Recommended Reports