The global neonatal ventilators market research report by Technavio predicts the market to post a CAGR of nearly 8% during the period 2019-2023.
Noninvasive ventilators help in improving survival rate by enhancing oxygenation and alveolar ventilation. They also offer benefits such as increased patient compliance, reduced risk of infection, faster recovery time, and shorter hospital stays. Rising concerns regarding the growing number of preterm births and neonate mortality rates are further fueling the demand for these ventilators.
As per Technavio, technological advances will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global neonatal ventilators market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global neonatal ventilators market: Technological advancements
To meet the demand from end-users such as hospitals, clinics, and maternity centers, vendors have been concentrating on providing technologically advanced neonatal ventilators. The adoption rate of noninvasive neonatal ventilators in developed and developing nations is increasing due to the advent of modalities such as noninvasive neurally adjusted ventilatory assist and high-frequency ventilation to prevent air leak and lung injuries.
Clinicians can provide flexibility in treatment by incorporating portable devices across inter-hospital or intra-hospital settings. Manufacturers are also focused on developing hybrid neonatal ventilators that provide specific breathing support with reduced risk of lung damage. Such advances in technology will boost the demand for neonatal ventilators, says a senior research analyst at Technavio.
Global neonatal ventilators market: Segmentation analysis
This neonatal ventilators market analysis report segments the market by technology (invasive ventilators and noninvasive ventilators), end-user (hospitals, clinics and maternity centers, ASCs, and others), and geography (Asia, Europe, North America, and ROW).
The invasive ventilators segment held the largest neonatal ventilators market share in 2018. However, the noninvasive ventilators segment will grow faster than the invasive ventilators segment during the forecast period. This is because of the high demand for noninvasive ventilators in clinics, maternity centers, hospitals, and ASCs.
North America accounted for the highest share of the market in 2018. Adoption of advanced devices with updated features, including digital connectivity and networking capabilities, by hospitals will contribute to the growth of the market in this region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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