Pune, Feb. 22, 2023 (GLOBE NEWSWIRE) -- The global neonatal intensive care respiratory devices market size accounted for USD 1,732 million in 2022. The most common infection of the lungs in neonates is called respiratory distress syndrome (RDS). It occurs when the baby's lungs do not develop fully during a premature birth. Research published by World Health Organization (WHO) estimates that approximately 15 million babies are born each year worldwide. This results in 11% of preterm births and is the leading cause of death among neonates in the United States.
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Key Takeaway:
- By device type, the high demand for the inhaler devices segment will boost the neonatal intensive care respiratory devices market over the forecast period 2023 to 2032.
- By end users, the hospital's segment holds the largest share globally during the forecast period 2023 to 2032.
- In 2022, North America dominated the market with the highest revenue share of 42%.
- Europe held a 22.7% revenue share in 2022.
- Asia-Pacific will grow at a CAGR of 7.2% from 2023-2032.
The market is dominated by various neonatal care devices, infant ventilators, and advanced technologies. Most developed and developing nations have increased their investments in healthcare facilities. The U.S. government invests more in healthcare than other countries. It aids in purchasing advance machinery and equipment, as well as research and development activities.
Despite the COVID-19 pandemic, there was no shortage of Neonatal Intensive Care Respirators devices in different regions. The industry was not severely affected by the coronavirus, which is rare in neonates.
Factors affecting the growth of the Neonatal Intensive Care Respiratory Devices industry?
Several factors can affect the growth of the neonatal intensive care respiratory devices industry. Some of these factors include:
- Increasing premature births and respiratory problems: Due to premature births and respiratory problems in neonates, the prevalence of Newborn respiratory distress syndrome (NRDS) is rising vigorously in neonates.
- Development of high-quality innovations: Surging technical development has supported the demand for CPAP systems, classified accessories for developed and developing economies, and ventilators.
- Rising awareness of the importance of neonatal intensive care: There is a rising awareness of the importance of new-born disease prevention, leading to an increase in the demand for neonatal intensive care respiratory products and services.
- Increasing Government Investments: During the forecast period there be will significant increase in government investments towards healthcare infrastructure and strategic alliances between players in emerging markets to drive the global neonatal intensive care respiratory devices market.
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Top Trends in Global Neonatal Intensive Care Respiratory Devices Market
Neonatal Intensive is where new-borns are placed if they have breathing problems or are born with breathing disorders. The companies that operate in this global marketplace have a fundamental goal to improve neonatal health. To achieve this goal, industry players are investing enormous resources in R&D through strategic collaborations, partnerships, and expansions.
Several middle-class parents find it difficult to afford intensive neonatal medical care for a longer period of time. The death rate is on the rise in several countries primarily in emerging economies due to lack of optimal healthcare infrastructure. Public-private Partnerships are allowing for more research and development of improved and cost-effective technologies.
Research is making it cheaper for the NICU thereby making mass adoption possible in the near future, thus fuelling the economic growth the global neonatal intensive care respiratory devices market.
Regional Analysis
The intensive care respiratory devices market was dominated by North America and is expected to be US$ 727.2 million by 2022, with a market share of 42%. This region's dominance is due to its emerging importance in neonatal RDS and higher NICU admissions as a result of respiratory conditions, and it is also expected to be the leader in the global neonatal intensive care market in 2032.
Another factor contributing to the region's success is the launch of advanced products by several U.S. medical device firms. Europe is the second largest market due to huge investment in R&D. APAC is expected to have the highest CAGR growth in the global marketplace over the forecast period due to rising demand for consumables, lower healthcare costs, increased product launches, and a larger base population.
Competitive Landscape
The competitive landscape of the market has also been examined in this report. Some of the major players includes
- Airon Corporation
- Fisher & Paykel Healthcare Limited
- Dragerwerk AG & Co. KGaA
- GaleMed Corporation
- GE Healthcare
- Medtronic
- VYAIRE MEDICAL, INC
- Hamilton Medical
- SLE
- Other Key players
Scope of the Report
| Report Attributes | Details | |
| Market Value (2022) | USD 1,732 Million | |
| Market Size in 2032 | USD 3,000 Million | |
| CAGR (2023 to 2032) | 5.8 | % |
| North America Revenue Share | 42.0 | % |
| Europe Revenue Share | 22.7 | % |
| Historic Period | 2016 to 2022 | |
| Base Year | 2022 | |
| Forecast Year | 2023 to 2032 | |
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Market Drivers
The prevalence of Newborn Respiratory Distress Syndrome (NRDS), which is caused by premature births and respiratory complications in neonates, is on the rise. RDS is the most common reason for NICU admissions, and Continuous oxygen is recommended to treat the syndrome. This can be done with the aid of ventilators, resuscitators, and cannulas. A respiratory support device for infants or neonates is needed because of the rising incidence rate of this syndrome. Additionally, this increases the need to purchase infant respiratory devices like CPAP and other devices.
There has been a steady increase in technical innovation, which has led to a rise in demand for ventilators, CPAP systems, and classified accessories for emerging and developed nations. The device regulates the stimulation of oxygen delivery to maintain the SpO2 levels in neonatal patients. Accordingly, the global neonatal intensive-care respiratory device market players will have increased demand for high-quality innovations and advanced neonatal equipment in the year to come. Manufacturer’s primary goal is to develop sophisticated products to ensure better patient care. This initiative will drive the market’ revenue prospects during the forecast period.
Market Restraints
Due to a lack of sufficient funding, healthcare infrastructure development in low-income countries has been slower than in middle-income nations, which could lead to the slow adoption of advanced technologies for patient treatment. In addition, the improper management and care of NICU patients would also result from a lack of knowledge about the WHO/CDC guidelines. These factors will hinder the demand for medical devices from these countries and have a negative impact on overall sales of NICU products.
Market Opportunities
Moreover, companies operating in this global space aim to improve neonatal health. To achieve this objective, industry players have put in dedicated efforts. Inspiration Healthcare plc bought SLE, a provider of neonatal ventilation products, for US$ 21,494 million in June 2020, followed by a successful funding round. Additionally, the company received US$ 59,705 million in adult ventilator orders through the NHS and a U.S. Patent. In addition, companies are continually being driven to invest and do M&A in order to boost their market potential for the forecast period due to the growing demand for advanced devices.
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Report Segmentation of the Neonatal Intensive Care Respiratory Devices Market
Devices Insight
Global Neonatal Intensive Care Respiratory Drugs Market is split based on device types such as Apnea Monitors, Continuous Positive Away Devices (CPAD), Nebulizers, and Inhalers, and other device types. The inhaler segment accounts for the largest market share out of all the devices owing to the rise in severe pollution levels. Resulting in a significant increase in severe respiratory conditions, continuing drop in Air Quality Index, and increasing pollution levels.
End User Insight
According to the end-user segment, the global neonatal intensive medical respiratory devices market is divided into specialty clinics, hospitals, homecare, research institutes, and other end-users. The hospital segment is the dominant segment in this market owing to increased NICU admissions and sales of devices that treat respiratory disorders, primarily respiratory distress syndrome in newborns.
The segment's growth has been aided by the increased adoption of neonatal ventilators, CPAP system, and other respiratory equipment to improve neonatal intensive medical units worldwide. Due to the preference for care at clinics near hospitals with advanced neonatal respiratory care, the specialty clinics market accounted for a substantial share of the global marketplace in 2022.
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Market Segmentation
By Devices
- Nebulizers
- Inhalers
- Ventilators
- Continuous Positive Airway Devices
- Apnea Monitors
- Other Device Types
By End User
- Specialty Clinics
- Hospitals
- Home Care
- Research Institute
- Other End-Users
By Geography
- North America
- The US
- Canada
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Mexico
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Recent Development of the Sports Medicine Market
- Sentec and PyrAmes partnered in September 2022 to make Boppli (Highly-advanced non-invasive blood pressure monitoring device) accessible to new-born critical care units across the United States. Boppli received FDA 510 (k) clearance. In addition, it has been declared a "breakthrough product" by the U.S. Food & Drug Administration and is expected to occur in the first quarter of 2023.
- In September 2022, Northumbria University Medtech developed the PulmoBioMed tech, which could revolutionize how diseases are diagnosed. For example, PBM-HALE allows for the examination of deep lung infections. This reduces the need to have expensive and invasive treatment. The PBM-Hale is a handheld aerosol-collecting device that allows patients to blow into it.
- In June 2022 - The USFDA granted Beyond Air permission to use its nitric oxygen generator and delivery system in hypoxic respiratory disease treatment for new-borns. LungFit PH produces unlimited nitric dioxide from ambient air. The ventilator circuit distributes the nitric oxide to a ventilator circuit regardless of flow or dose. LungFitPH forms nitric oxide using an electrical pulse and a compressor comparable to a 60W lightbulb.
Browse More Related Reports:
- Home Healthcare Market: is predicted to reach USD 697.83 billion by 2032, growing at a CAGR of 8.4% from 2022 to 2032.
- High Flow Oxygen Therapy Devices Market Size: is expected to generate around USD 1,054.63 Million revenue in 2022 and advance at a CAGR of over 5.4% during 2022-2032.
- Nebulizers Market: growth is estimated to accelerate at a CAGR of 7.3% and register an incremental growth of USD 2387.75 million by 2032 during the forecast period.
- Mechanical Ventilators Market: is expected to grow at a CAGR of 4.7% during the forecast period and is estimated to exceed USD 9894.36 million by 2033 in terms of revenue.
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