Number of pages: 100 | Report Format: PDF | Published date: 27 January, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market size value in 2021 |
US$ 11.5 billion |
Revenue forecast in 2030 |
US$ 17.92 billion |
Growth Rate |
CAGR of 5.05% from 2022 to 2030 |
Base year for estimation |
2021 |
Forecast Period |
2022-2030 |
Historical Year |
2020 |
Segments covered |
Device Type, End-user, and Region. |
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth+ Reports, the global neonatal intensive care respiratory devices market was valued at US$ 11.5 billion in 2021. The market is expected to witness a CAGR of 5.05 % from 2022 to 2030.
Market Fundamentals
Neonatal Intensive Care Respiratory Devices (NICRD) are specialized medical devices used to support the breathing of critically ill newborn infants. These devices provide life support and help newborns with breathing difficulties such as respiratory distress syndrome, premature birth, or congenital disabilities. Neonatal intensive care respiratory devices include mechanical ventilators, continuous positive airway pressure (CPAP) devices, high-frequency ventilation (HFV) devices, and nasal cannulas. These devices provide various ventilation modes, pressure support, and oxygenation to help newborns breathe and improve their lung function. Neonatal intensive care respiratory devices are essential equipment in neonatal intensive care units (NICUs) as they help save critically ill newborns' lives and improve their outcomes. Each device is tailored to the infant's specific needs and requires careful monitoring and assessment to ensure that the infant receives the most effective care. It is important to note that using these devices can be complicated and should be overseen by a trained medical professional who is knowledgeable and experienced in their use.
The care provided in a NICU includes monitoring vital signs, administering medications, providing respiratory support and oxygen therapy, performing diagnostic tests and procedures, and providing nutrition and other treatments. Babies born prematurely, with congenital disabilities or respiratory distress, are often placed in a NICU. The care provided in a NICU is usually given by specialized healthcare professionals such as neonatologists, pediatric nurses, and respiratory therapists. Neonatal intensive care has made significant advances by developing new technologies and treatments over the years. This has led to an increase in the survival rate of premature and critically ill newborns.
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Market Dynamics
Globally, the number of preterm births is increasing, which is fueling the market for neonatal intensive-care respiratory devices because preterm newborns frequently need breathing support. For instance, the WHO estimates that over 15 million babies are born each year prematurely. The market for respiratory equipment for neonates receiving critical care is expanding as a result of technological developments such as the creation of new products and enhanced features. The industry is expanding because of rising government spending and healthcare costs on neonatal intensive care. Globally, the rising numbers of NICU hospitals are also propelling the market growth. Additionally, there are more private hospitals, and these institutions frequently have higher standards for newborn intensive care. However, several restricting factors, such as the high cost of advanced care devices and their poor acceptance in low and middle-income nations, are hampering the overall market growth.
Market Ecosystem
The global neonatal intensive care respiratory devices market has been analyzed from four perspectives: Device Type, End-user, and Region.
Neonatal Intensive Care Respiratory Devices Market by Device Type
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Based on device type, the global neonatal intensive care respiratory devices market is segmented into nebulizers, inhalers, ventilators, and apnea monitors. The inhalers dominated the market with the largest revenue share in 2021, owing to the extreme respiratory cases arising worldwide due to severe pollution. For instance, according to an article in Cureus published in January 2023, air pollution can negatively impact the development of lungs in infants and children by causing low birth weight, premature birth, and improper immune system development. This exposure can lead to severe health complications, as prenatal exposure to air pollution can interfere with the development of organs. The article also states that studies have shown that prenatal exposure to air pollution is linked to impairments in infant and child lung function, increased respiratory symptoms, and a higher risk of childhood asthma. Additionally, certain advantages of inhalers include being easy to use, portable, customizable according to the dose or medication of the individual, cost-effective, and improving patients’ outcomes by providing targeted therapy. These aspects are resulting in the further growth of the inhaler segment.
Neonatal Intensive Care Respiratory Devices Market by End-user
The global neonatal intensive care respiratory devices market is further segmented based on technology into hospital NICUs, specialty clinics, and nursing homes. Due to rising NICU admissions and equipment sales for respiratory illnesses, particularly respiratory distress syndrome in neonates, NICU hospitals had the biggest market share in 2021. Furthermore, NICU hospitals are specifically designed and equipped to provide specialized care for critically ill newborn infants, which allows them to use and evaluate the effectiveness of NICRD. Hospitals have the infrastructure required to enable the use of neonatal intensive-care respiratory devices, such as power, ventilators, and oxygen delivery. In addition, the qualified and competent personnel are well-equipped to operate and maintain the neonatal intensive care respiratory devices, ensuring that the devices are used to their greatest capacity. These advantages are expected to further boost the hospital NICUs segment.
Neonatal Intensive Care Respiratory Devices Market by Region
Geographically, the global neonatal intensive care respiratory devices market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the global neonatal intensive care respiratory devices market in 2021 due to the significant demand for technologically improved items that improve infant healthcare delivery. The major players are steadily involved in partnerships, mergers, and acquisitions, also helping in the growth of the regional market. Moreover, continuous research is being carried out in the neonatal intensive care respiratory devices space by various research institutes and companies for developing new techniques. For instance, in November 2022, SIME Diagnostics, a pioneer in ICU point-of-care respiratory diagnostics, announced the successful CE-IVD accreditation of the world's first Clinical AI Platform to quickly predict severe respiratory disease. The company also launched a pilot plant for the RDS (respiratory distress syndrome) Predict', which will be accessible on the platform soon. RDS Predict reveals which neonates are more likely to get RDS.
Competitive Landscape
The prominent players operating in the global neonatal intensive care respiratory devices market are:
Strategic Developments
The estimated market size of the neonatal intensive care respiratory devices industry in 2030 is US$ 17.92 billion.
During the forecast period, the CAGR of the neonatal intensive care respiratory devices market is 5.05% from 2022 to 2030.
The high cost of advanced care devices and their poor acceptance in low and middle-income nations are restricting the global market growth to its full potential.
The rising number of preterm births are the factors driving the market growth, rising government spending and healthcare costs on neonatal intensive care, the growing numbers of NICU hospitals, and the rising number of preterm births.
Some prominent players operating in the global neonatal intensive care respiratory devices market are Medtronic plc, GE Healthcare, Getinge AB, Vyaire Medical Inc., Mercury Medical, Drägerwerk AG & Co. KGaA, Terumo Corporation, Inspiration Healthcare Group plc, GaleMed Corporation, Neotech Medical Systems Pvt. Ltd., Fisher & Paykel Healthcare Limited, Teleflex Incorporated, and Airon Corporation among others.
*Insights on financial performance are subject to the availability of information in the public domain
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