The latest market report published by Credence Research, Inc. “Neonatal Intensive Care Respiratory Devices Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the neonatal intensive care respiratory devices market was valued at US$ 1,396.5 Mn in 2018 and expected to reach US$ 2,134.5 Mn by 2027 at a CAGR of 4.8% during the forecast period from 2019 to 2027.
The global neonatal intensive care respiratory devices market is growing productively from 2019 to 2027 accredited to the rise in admissions for infants in clinics and NICUs along with increased prevalence for various respiratory disorders on a global scale. Advanced technology progression in ventilators segment, expansion in production along with the demand for advanced devices in the nebulizer and inhalers segment is driving the overall market growth on a global scale.
Development of top quality neonatal intensive care respiratory devices with increased cost in the end user segment is also a major factor driving the overall growth. Partnerships with top manufacturers in the U.S. and Europe will further spur revenue growth during the forecast period. In April 2018, Vyaire Medical, Inc. (BD) acquired ACUTRONIC USA and in October 2018 Lifelines Neurodiagnostic Systems, Inc. acquired Incereb Ltd. Other major factors driving the market growth include increasing NICU hospitalizations, the predominance of medical services related to pneumonia, focal line-related circulatory system contaminations, and other neonatal emergency clinic gained infection or hospital acquired infection will further spur revenue growth during the forecast period.
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Key Market Movements:
- Globally, the neonatal intensive care respiratory devices market remains to show a lucrative growth with a CAGR of 4.8% for the period from 2019 to 2027
- Asia Pacific market will grow expressively due to its improved infrastructure, very large patient pool and improved technology expansion in countries such as India, China, Singapore, Indonesia, Malaysia and others
- Increasing number of NICU hospitals and specialty clinics, adoption of branded neonatal intensive care respiratory devices, and increasing medical expenditure in the developing nations will drive the overall market growth
- Major players in this vertical are GE Healthcare, Medtronic plc., C. R. Bard, Inc., Inspiration Healthcare Group plc, Getinge AB, Drägerwerk AG & Co. KGaA, Becton, Dickinson and Company, Cook Medical, Teleflex Incorporated, Trudell Medical International, Mercury Medical and others