Neonatal Ventilator Market Witnesses Upward Trend with Increasing Cases of Preterm Births

 

According to Coherent Market Insights, the neonatal ventilator market is expected to witness significant growth in the near future. The anticipated growth of the market will be facilitated by government funding that will allow supply companies to expand capacity, offering consumers better access to high-quality and cost-effective systems. More baby boys born every month are also resulting in an increased need for systems, with the market projected to have a much greater demand for technologically advanced ventilators and other life support systems in the years to come. As baby boys become a more common statistic, the business opportunity presented by this exciting market becomes all the more lucrative.

According to Coherent Market Insights, the global neonatal ventilator market is also expected to witness significant growth due to high prevalence of respiratory diseases and preterm births. According to March of Dimes 2019 report card, the preterm birth rate in the U.S. reached 10.02% in 2018 from 9.63% in 2015. According to the study, ‘Neonatal hypothermia and associated factors among neonates admitted to neonatal intensive care unit of public hospitals in Addis Ababa, Ethiopia’, published in August 2018, the prevalence of neonatal hypothermia in the study area was 64%. Such scenario is also expected to aid in growth of the neonatal ventilator market.

The expected growth in neonatal ventilator market is driven primarily by the introduction of improved technology that allows the system to be better able to manage the airway pressures as well as assisting in the maintenance of the lungs. The market is also driven by emergence of Covid-19 worldwide. Globally, as of 4:26pm CEST, 2 June 2021, there have been 170,812,850 confirmed cases of COVID-19, including 3,557,586 deaths, reported to the World Health Organization.

The neonatal ventilator market dynamics has recently shown a reversal from the past where demand was consistently higher than supply. In recent times however, the opposite has been the case with a sharp increase in supply. The net result is that more neonates are now waiting for their life support systems than being born. The market will be able to sustain this upward trend if there is an increase in the number of births naturally occurring over the coming years. Additionally, it is possible that the high rates of infant deaths recorded over recent years will reduce the number of such fatalities over the period.