Market Trends of Neonatal Ventilators Industry
This section covers the major market trends shaping the Neonatal Ventilators Market according to our research experts:
Portable Neonatal Ventilators Anticipated to have Notable Growth in the Studied Market Over Forecast Period
The portable neonatal ventilator segment is expected to witness notable growth in the neonatal ventilator market through the forecast period. This can be attributed to the rising adoption of these ventilators due to a proximal flow sensor for precise measurements, intellitrig leak compensation, and ease of use. The transport of neonates within the hospital setting is a common event that exposes patients to risks normally not encountered in the stationary environment.
Increased birth rates, research and development in the field of neonatal care, and product launches boost the market growth. For instance, as per the article published in 2021 under the title "Newborn low birth weight: do socioeconomic inequality persist in India?", important global public health challenges include the prevalence of preterm birth and accompanying low birth weight (LBW). It raises the risk of non-communicable diseases and contributes to increased newborn and child mortality in infancy as well as later in adulthood. The same article pointed out that the mother's nutritional status needs to receive the proper attention. Pregnancy-related education and service users should be made more widely known. Additionally, there is a need to expand the program's reach and public knowledge of antenatal care (ANC). The role of health professionals is crucial in such situations. The LBW of children in India has reduced overall by combining programs on maternal nutrition and maternal health services. These awareness programs lead to market growth.
The device will transform ventilatory care through its small size, portability, ease of use, versatility, and extended battery life. By costing as little as one-third of other ICU ventilators and offering both invasive and noninvasive capabilities, the device is ideally suited, regardless of location or severity. These factors are expected to drive the segment's market.
North America Expected to See Healthy Growth in the Neonatal Ventilators Market Over Forecast Period
North America is expected to witness healthy growth in the overall neonatal ventilators market throughout the forecast period. Factors such as high purchasing power, technological advancements in the field, and government initiatives regarding infant safety, such as the "United Nations' Millennium Development Goal," have contributed to the growth of the market in the North American region. The value-based healthcare model has led to the development of well-equipped NICU centers and an increasing number of approvals for these devices from the FDA, thereby contributing to market growth.
Neonatal care in North America is fueled by the presence of sophisticated systems and proper awareness to take care of both mother and neonate. In June 2022, Children's National Hospital, located in Washington, DC, ranked No. 5 for the best children's hospital nationwide. Children's National won this honor for a sixth consecutive year. In addition, its neonatology program, which provides newborn intensive care, ranked No.1 among all children's hospitals for the sixth year in a row. These achievements in the healthcare system in the region fuel market growth at a higher pace.
Furthermore, a surge in the number of neonatal fetal deaths in Canada will likely supplement the market growth over the analysis period. For instance, as per data published by the WHO, updated in 2022, the neonatal mortality rate was 3.18 per 1,000 live births in Canada and 3.38 per 1,000 live births in the United States in 2020. Such a high burden of deaths creates the need for neonatal ventilators in the region and is, thus, expected to drive the growth of the market.
Thus, as per the factors mentioned above, the North American region is expected to witness growth over the forecast period.
