"Neonatal intensive care respiratory devices market to exhibit productive growth during the forecast period"
The global neonatal intensive care respiratory devices market is growing effectively, was valued at US$ 1,396.5 Mn in 2018 and expected to reach US$ 2,134.5 Mn by 2027. Globally increasing breathing disorders in the newborn babies, along with prevalence of respiratory disorders has significantly increased the revenue on a global scale. Acquisitions along with new respiratory equipment and device launches in the neonatal care industry are driving the overall growth in the emerging nations on a global scale.
"Continuous positive airway pressure devices segment is expected to register higher growth by the end of 2027"
New technology evolution in the design of neonatal intensive care respiratory devices, high prevalence for respiratory disorders and upsurge in incidence of preterm births and equivalent efforts to improve survival rates are probable to fuel the overall demand of respiratory devices. The ventilators in the device type segment generated maximum revenue share globally due to its need in hospitals and clinics along with new technology expansion for advanced ventilators globally. Furthermore, growth in healthier reimbursement simulations, and demand for low cost inhalers and nebulizers in neonatal intensive care respiratory devices technology are factors driving the growth on global scale.
"Increasing admissions due to respiratory disorders in the hospital segment to witness a significant CAGR"
Increasing cardiovascular, and other respiratory diseases in infants are notable variables expected for the growth of the global neonatal intensive care respiratory devices market. According to FDA, in 2016, more than 6% of 4 million child births in the U.S. every year needs neonatal intensive care unit (NICU) admission and majority of them were due to preterm birth. NICU is also utilized for newborn babies with health disorders such as heart problems, infections, or birth defects. Increasing population along with increasing hospital admissions in the Asia Pacific is a major factor in escalating the growth in the end user segment. Moreover, growth in the specialty clinics and nursing homes in the emerging nations along with increased government funding for child care has sustained the administrations of neonatal intensive care respiratory devices on a global scale.
"Increasing population, new product launches and the presence of top players holds the U.S. in dominant position"
In 2018, the U.S contributed maximum revenue in the global neonatal intensive care respiratory devices market accredited to the rising prevalence of respiratory disorders. Major factors include increasing awareness, FDA approvals for advanced devices, and increasing emergency care services along with better reimbursement structure. Developing nations always suffer the burden of neonatal and fetal deaths. As per WHO, more than 2.5 million infant deaths were reported in the year 2017. Nevertheless, in poorer nations the accessibility of advanced devices are limited. Lack of skilled physicians, very less suitability of medical treatment and the high cost of various products along with the availability are few factors restraining the overall growth of the neonatal intensive care respiratory devices market.
"Dominance of multinational manufacturers with strong product portfolio in the developed regions"
Major players in the neonatal intensive care respiratory devices market are GE Healthcare, Medtronic plc., C. R. Bard, Inc., Inspiration Healthcare Group plc, Getinge AB, Drägerwerk AG & Co. KGaA, Becton, Dickinson and Company, Cook Medical, Teleflex Incorporated, Trudell Medical International, Mercury Medical and others. Major organizations are executing progressive strategies with new medical technology expansion in neonatal intensive care respiratory devices designs along with acquisitions and partnerships with top medical device manufacturers.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Neonatal Intensive Care Respiratory Devices market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Device
| |
End User
| |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
