The global neonatal intensive care respiratory devices market accounted for US$ 6.7 billion in 2020 and is estimated to be 12.2 billion by 2029 and is anticipated to register a CAGR of 6.9%. The report. “Global Neonatal Intensive Care Respiratory Devices Market, By Device Type (Nebulizers, Inhalers, Ventilators, Continuous Positive Airway Pressure Devices, Apnea Monitors, and Others), By End-user (NICU Hospitals, Specialty Clinics, Nursing Homes, Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030”.
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- In September 2018, Koninklijke Philips N.V., in collaboration with the Consortium for Affordable Medical Technologies (CAMTech), developed an innovative resuscitation device called Augmented Infant Resuscitator (AIR). It is an add-on device for conventional neonatal bag-valve-mask (BVM) resuscitators that effectively resuscitates asphyxiated newborns and helps reduce neonatal mortality. These advancements in NICU equipment are projected to boost to the market.
- On March 2020, Royal Philips, a global leader in health technology, announced that it is expanding its production of certain critical care products and solutions to help diagnose and treat patients with the new coronavirus disease (COVID-19). The most needed products are portable ventilators, patient vital signs monitors and medical consumables for non-invasive and invasive ventilation to treat a broad range of respiratory conditions.
Growth in prevalence of respiratory diseases in newborn babies and growing incidence of preterm births coupled with corresponding efforts to improve survival rates are likely to propel the growth of the global market over the forecast period. According to the data reported by WHO, 2.7 million stillbirths and 3.1 million neonatal deaths occur every year across the globe. This has attributed to raise the demand for neonatal intensive care centers. Additionally, healthcare-associated infections and neonatal hospital-acquired infections such as Central Line-Associated Bloodstream Infections (CLABSI) are some factors that are boost the growth of the market.
Supportive government initiatives, particularly in emerging countries, will drive the target technological advancement in Neonatal Intensive Care Respiratory Devices in the coming years and is projected to fuel their demand. Key players are involved in innovating patient care through integration of enhanced patient monitors, wireless devices, innovative parameters, integrated IT solutions, and workflows further drives the demand. These advancements allows various anesthesiologists and clinicians to deliver customized solutions to end users. Moreover, other value added services such as predictable patient care, streamlining anesthesia documentation process, and access to clinical information optimizes the process. For instance, Philips and B. Braun signed a partnership agreement to develop advanced ultrasound guided therapy regional anesthesia.
|North America||U.S. & Canada|
|Europe||U.K., Germany, France, Italy, Spain, Hungary, BENELUX, NORDIC, Rest of Europe|
|Asia-Pacific||China, India, Japan, South Korea
Australia, New Zealand, Rest of Asia-Pacific
|Latin America||Brazil, Mexico, Argentina, Rest of Latin America|
|Middle East and Africa||Israel, GCC, South Africa, Rest of Middle East and Africa|
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The global neonatal intensive care respiratory devices market accounted for US$ 6.7 billion in 2020 and is estimated to be 12.2 billion by 2029 and is anticipated to register a CAGR of 6.9%. The market report has been segmented on the basis of product type and region.
- By device type, the inhalers segment accounted for the smallest market share in 2017. However, the segment is expected to grow at a high CAGR over the forecast period. Owing to the high prevalence rate of respiratory diseases and presence of advanced respiratory devices.
- By end-user, hospitals segment is the dominating segment, as they are equipped with specialized and advanced respiratory and anesthesia devices. However, clinics are estimated to be grow at the highest CAGR.
- By region, North America is estimated to witness for major share of the global neonatal intensive care respiratory devices market in 2018, owing to growth in prevalence of premature births and high cost of technologically advanced respiratory devices.
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