Neonatal Ventilators Market Size

Neonatal Ventilators Market Analysis

The Neonatal Ventilators Market size is estimated at USD 452.15 million in 2024, and is expected to reach USD 628.25 million by 2029, growing at a CAGR of 6.80% during the forecast period (2024-2029).

The outbreak of COVID-19 impacted the neonatal ventilator market significantly. The disease disrupted the supply chain of medical devices, including neonatal ventilators, initially. However, there was a positive impact and increased demand for intensive care equipment, including beds and ventilators for neonates and adults and personal protective equipment for healthcare. The demand for neonatal ventilators witnessed significant growth during the COVID-19 pandemic due to a surge in the implementation of neonatal ventilators for COVID-19-infected patients across the world. Several industry players, including GE Healthcare, Getinge AB, Medtronic, Hamilton Medical, and ICU Medical, are investing in developing and distributing as many ventilators as possible across the world, owing to the lack of neonatal ventilators in many countries. Hence, the COVID-19 pandemic had a favorable impact on the market initially, and currently, the market has lost some traction. However, it is expected to have stable growth during the forecast period.

Babies are prone to various health risks, while low-weight birth is when babies are born weighing less than 5.8 pounds. Preterm births are one of the major factors responsible for low-weight births. Preterm and low-weight babies are prone to various medical conditions and infections, and in the treatment of these diseases, neonatal ventilators are used, which is expected to fuel the growth in the neonatal ventilators market over the forecast period. For instance, the systemic review published in 2021 under the title "Trends in prevalence of low-birth-weight babies in India" explained that the world's highest prevalence of low birth weight (LBW) was found in South Asia. More than half of LBW babies worldwide, 15% of all births, come from Asia, and these factors will add to the growth of the studied market of neonatal ventilators.

According to the CDC data updated in November 2021, preterm birth affected 1 of every 10 infants born in the United States, and these babies are at a higher risk of death and disability. These babies require specialized care. These babies require specialized care. Hence, the demand for neonatal ventilators is expected to grow exponentially. With the rising cases of newborns, the demand for this equipment is also projected to increase in the near future. The neonatal ventilator has been observed to have increasing demand in middle-income countries, as birth rates in these countries are higher, and the priority for improved fetal and neonatal care is high. Constant technological advancements such as patient-triggered ventilation and VT monitoring at the proximal airway are further spurring the market growth. As a result, sales of neonatal ventilators are expected to flourish at a rapid rate.

Moreover, in October 2021, Movair launched Luisa, a portable and life-supporting ventilator with high-flow oxygen therapy in the United States. The device can be used in homes, hospitals, or institutions.

However, the high cost associated with ventilators may hamper the demand for the neonatal ventilators market.