Global Neonatal Ventilator Market to exceed $430 mn by 2024
Sellbyville, DE -- (SBWIRE) -- 02/06/2019 -- The Neonatal Ventilator Market is set to exceed USD 430 million by 2024; according to a new research report by Global Market Insights.
Rising incidences of preterm births with respiratory disorders and mortality rates primarily drive the demand for various neonatal ventilators worldwide. Technological advancements in ventilators' design and function are resulting in rising adoption rate, especially in developed regions. Moreover, growing birth rate should augment market demand during projection years.
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Inadequate infrastructure in developing and under-developed regions to support advanced ventilators proves to be growth hindering factor. Also, high prices of ventilators happen to hamper adoption rates in many economies across the globe. During the forecast timeframe, price constraint will continue to restrain industry growth. High frequency of use and broad application of invasive neonatal ventilators in healthcare settings sets them to witness higher growth than non-invasive ones over the forecast period; moreover, deepening market penetration of the same in developing countries should largely contribute to it's market size.
A succinct outline of the product spectrum of neonatal ventilators market
Neonates, as a matter of fact, are delicate beings, and their tiny size further adds to the challenge of how ventilation could be used for supporting their respiration process, thus expanding the scope of neonatal ventilators market. Subject to the prevalence of incredible research and development programs, in tandem with numerous technological developments that are regularly upgraded, neonatal ventilators industry has indeed been observing remarkable momentum. As per research, invasive or mechanical ventilators have exhibited a much greater rate of success than non-invasive ones. However, invasive neonatal ventilators market is more established in developed countries while in regions lacking in medical resources and advanced healthcare, continuous positive airway pressure (CPAP) and other non-invasive neonatal ventilators have observed greater sales. In consequence, this has had a commendable impact on the commercialization potential of non-invasive based neonatal ventilators market share from the emerging economies.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- GE Healthcare
- Hamilton Medical
- Smiths Medical
- Breas Medical
The United States, as on today, is one of the most developed hubs of neonatal ventilators market, driven by the nation's accelerated R&D programs and sophisticated healthcare infrastructure. Currently, the region holds the largest share of the overall neonatal ventilators market, however, pertaining to relatively low addressable needs, U.S. neonatal ventilators market size is slated to register a modest CAGR over 2017-2024.
Emerging economies like China and Brazil have been forecast to depict a rather impressive growth rate over the next six years, driven by numerous technological developments and the rapid modernization of neonatal healthcare facilities. In the last decade alone, China has witnessed a robust growth in the number of hospitals, while private clinics have apparently become popular in tier 1 cities in the country. Hospitals and clinics are lately becoming increasingly better equipped to handle neonatal emergencies – this validates that China neonatal ventilators industry share is also likely to witness massive growth from hospitals alone.
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Chapter 3 Neonatal Ventilators Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024
3.3 Industry impact forces
3.3.1 Growth drivers
18.104.22.168 Increasing number of preterm births
22.214.171.124 Rising incedence of respiratory disorders in neonates
126.96.36.199 Technological advancements
3.3.2 Industry pitfalls & challenges
188.8.131.52 High prices of neonatal ventilators
184.108.40.206 Lack of required infrastruture in developing countries
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By end user
3.5 Technology landscape
3.6 Porter's analysis
3.7 Competitive landscape, 2016
3.7.1 Strategy dashboard
3.8 PESTEL analysis