The Global Infant Ventilator Market is estimated to reach over USD 658.86 million by 2030, exhibiting a CAGR of 7.5% during the forecast period.
A ventilator is a medical device that exchanges oxygen and carbon dioxide for mechanical assistance. It's widespread in medical settings. This technique is also known as artificial respiration. It is a device that lets breathable air enter and exit the lungs, allowing people who are physically unable to breathe or who are breathing insufficiently to receive breathing assistance. Neonatal ventilators are ventilators explicitly designed for newborns. The rise in neonatal death rates is expected to fuel the growth of the neonatal ventilators market during the projected period. Moreover, the market for neonatal ventilators is predicted to grow as the number of preterm babies with respiratory issues rises. Additionally, technological advancements in neonatal ventilators are projected to slow the market's growth. Furthermore, rising public awareness regarding the treatment of chronic respiratory illnesses, as well as increased private investment by key market players, has resulted in the widespread use of neonatal ventilators, boosting market growth even further.
However, the rising cost of neonatal ventilators, on the other hand, is likely to hinder market growth throughout the forecast period. Furthermore, the expensive cost of ventilators is expected to restrict their global adoption. The high-cost constraint significantly impacts noninvasive ventilators, which are more effective than invasive ventilators. In addition, in low-income countries, a lack of experienced practitioners, suitable healthcare facilities, and healthcare financing will hinder the smooth implementation of infant ventilators.
The Infant Ventilator market is segmented on the basis of product, ventilation mode, and application. Based on product, the market is segmented as Mechanical, Electronic, Pneumatic, and Electro-pneumatic. By Ventilation Mode, the market is segmented into Invasive and Non-invasive. By application, the market is segmented into Resuscitation, Emergency, Transport, Clinical, and Other (COPD, homecare, etc.).
Based on ventilation mode, the Invasive segment is accounted as a major contributor in the Infant Ventilator market
Invasive ventilators are not moveable and are usually utilized in hospitals and intensive care units. The invasive segment currently dominates the worldwide neonatal ventilator market in 2021 and is expected to do so throughout the projected period. On the other hand, noninvasive newborn ventilators are portable and can be used in hospitals and at home. However, the noninvasive ventilation market is predicted to develop at the fastest CAGR throughout the forecast period because of its cost-effectiveness, higher tolerance, and convenience compared to invasive ventilation, as well as easier availability outside ICU settings.
Homecare segment witnessed growth at a rapid rate
The home care segment is predicted to develop at the quickest rate during the projection period. The industry is growing as a result of an increasing number of government initiatives aimed at reducing healthcare costs by boosting home healthcare. Another important aspect driving market expansion is value-based healthcare. Medicare reimbursements in the United States are very beneficial when it comes to offering value-based healthcare for better patient outcomes at a reasonable cost. As a result, in-home care has become a popular treatment option, and it is predicted to rise at a healthy rate over the forecast period.
In the region, the North America Infant Ventilator market holds a significant revenue share.
North America dominates the neonatal ventilators market because of increased awareness and rising government spending in the healthcare business. Furthermore, the increased use of improved newborn ventilation technology for emergency and routine use and the growing need for advanced healthcare facilities will propel the neonatal ventilators market in the area to new heights over the forecast period. However, the market in the Asia Pacific is also expected to increase significantly throughout the projected period, owing to rising healthcare expenditure, different collaborations, new product launches, and strategic agreements undertaken by local companies during the pandemic.
ACUTRONIC Medical Systems, Airon Corporation, Atlantamed, Atom Medical Corporation, Allied Healthcare Products, Inc., AVI Healthcare, Bio-Med Devices, Breas Medical AB, Comen, Drägerwerk AG & Co. KGaA, Fanem Ltda, Fisher & Paykel Healthcare, Fritz Stephan, GINEVRI srl, Hamilton Medical, Heinen und Löwenstein, HERSILL, HEYER Medical, Leistung, Magnamed, Mediprema, Medtronic, Mindray, MS Westfalia, Neotech Medical Systems, Neumovent, NOVOS, O-Two Medical Technologies, Okuman Medikal Sistemler Anonim Sirketi, Paramed International, Phoenix Medical Systems, Progetti S.r.l., Sechrist Industries, Shenzhen Prunus Medical, Shvabe-Zurich, Siare, SLE, Tecme, WILAmed, Hamilton Medical AG, Koninklijke Philips N.V., Löwenstein Medical GmbH & Co. KG, MAQUET Holding B.V. & Co. KG., Nihon Kohden Corp., ResMed, Inc., Soma Technology, Inc., Smiths Group PLC., Utah Medical Products, Inc. Vyaire Medical, Inc., and Vygon SA are a some of the prominent players in the market. These enterprises use a variety of techniques to leverage on market opportunities, including advancements in existing technology, the launch of new goods, global expansion, and mergers and acquisitions.