New York, USA, Sept. 14, 2021 (GLOBE NEWSWIRE) -- A research report published by Research dive on the global neonatal ventilator market explains the impact of COVID-19 pandemic on the present outlook and the future of the market. Comprehensive analysis on drivers, restraints, challenges, lucrative opportunities, COVID-19 impact, key segments of the market, and competitive landscape are provided in the report.
Highlights of the Report
The outbreak of the COVID-19 has had favorable impact on the global neonatal ventilator market. According to the report, the global neonatal ventilator market gathered $288.6 million in 2018, and is projected to garner $474.0 million by 2026, and exhibit a CAGR of 7.1% during the forecast period from 2019 to 2026. The anticipated market size in 2020 was $326.7 million before the outbreak of COVID-19. But, due to the COVID-19 chaos, the market size increased to $330.6 million due to the growing demand for ventilators across the globe during the chaotic situation.
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Factors Influencing the Market Growth during Coronavirus Pandemic
As per the analysts of Research Dive, the increasing number of coronavirus infected patients, ICU bed admissions, and healthcare centers are boosting the demand for ventilators across the globe. The World Health Organization (WHO) states that COVID-19 patients are vulnerable to be related with breathing problems. Thus, the increasing implementation of ventilators to COVID-19 infected patients around the world is the major factor propelling the market growth during the unprecedented times.
Future Scope of the Market
The global neonatal ventilator market is expected to continue to observe striking growth even after the pandemic over the forecast period, majorly due to increase in number of deaths and the growing prevalence of neurological diseases & respiratory diseases among babies across the globe.
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In addition, increasing healthcare expenditure and development of healthcare segment are other factors expected to boost the market growth in the projected timeframe. Furthermore, continuous technological developments to advance neonatal ventilators and healthcare facilities are estimated to generate significant growth opportunities for the global neonatal ventilator market.
High Frequency Ventilators Will Grow at a Significant Rate throughout the Forecast Years
On the basis of technology, the neonatal ventilator market is classified into mechanical ventilator, high frequency ventilator, volume targeted ventilator, and hybrid ventilator. The market for high frequency ventilator will witness to rise at a faster rate of 7.9% CAGR and is predicted to register for $147.3 million till the end of 2026. Increased oxygenation, amplitude, fresh gas flow, and decreased frequency, are expected to drive the need of high frequency ventilator; this factor will fuel the market size in the forecast time. Mechanical ventilator technology segment accounted for an evident market size and is projected to experience considerable growth during the forecast time.
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Major Market Players
The key players operating in the global neonatal ventilator industry include
- Philips Healthcare
- ResMed
- Becton
- Drager
- Fisher & Paykel
- Hamilton Medical Devices
- Getinge AB
- Allied Healthcare Products
- Air Liquide Medical Devices
- Smiths Medical
and others. These players are implementing various strategies such as strategic partnerships, technological advancements, product launches, and others to gain a competitive edge in the global industry.
For instance, in November 2019, Nihon Kohden, The leading manufacturer of EEG, AED, patient monitors, and medical electronic equipment, launched ‘NKV-550’ series ventilator system for neonates and adults, which is specifically designed for easy transition between invasive ventilation, high-flow oxygen therapy, and non-invasive ventilation.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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