Transparency Market Research (TMR) has published a new
report titled, “Neonatal Intensive Care Respiratory Devices Market - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”.
According to the report, the global neonatal intensive care
respiratory devices market was valued at US$ 1,500 Mn in 2017 and is projected
to expand at a CAGR of 5% from 2018 to 2026. High incidence rate of respiratory
diseases in newborn babies and increase in incidence of preterm births and
corresponding efforts to improve survival rates are anticipated to boost the
growth of the global market from 2018 to 2026. However, demand for neonatal
intensive care respiratory devices is anticipated to decline during the
forecast period owing to high cost and technical errors in NICU devices.
However, surge in government investment in health care infrastructure and
strategic alliances among players to penetrate the emerging markets are
expected to propel the global neonatal intensive care respiratory devices
market during the forecast period. For instance, in October 2018, Handi-Craft
Company acquired Infant-Driven Feeding LLC, a neonatal education company
focused on improving oral feeding for premature and sick infants. Moreover,
Vyaire Medical, Inc. (BD) acquired ACUTRONIC USA, Inc. in April 2018 and
Lifelines Neurodiagnostic Systems, Inc. acquired Incereb Ltd. in October
2018.
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Ventilators Segment to
Capture Largest Market Share
The ventilators segment accounted for the largest share
of the global neonatal intensive care respiratory devices market in 2017, owing
to high cost of devices, need of neonatal breathing support in NICU, and
increase in investment and development of new advanced ventilators by key
players. The continuous positive airway pressure devices segment is anticipated
to expand at the fastest CAGR during the forecast period due to increase in
demand for the devices in NICUs to increase air pressure in patient’s throat to
prevent collapse of airway. Moreover, continuous positive airway pressure
devices are cheaper than other breathing support devices.
NICU Hospitals Segment to
Account for Significant Market Share
The NICU hospitals segment held the largest share of the
global neonatal intensive care respiratory devices market in 2017. Rise in
awareness about advantages of NICU hospitals such as availability of advanced
devices, all levels of treatment for neonates, and trained staff boost the
growth of the segment. Infrastructural expansion in NICU hospitals such as
increase in the number of beds also drives demand for NICU respiratory devices.
In February 2018, Penn State Children's Hospitals, a U.S.-based NICU and PICU
specialty hospital, announced plans to expand both NICU and PICU facilities by
adding three floors to its existing building and is expected to complete by
2020.
North America Market to
be Driven by Development of Health Care Infrastructure
North America held major share of the global NICU
respiratory devices market in 2017, supported by high cost of technologically
advanced respiratory devices and rise in prevalence of premature births.
Government initiatives to spread awareness about neonatal diseases and increase
in R&D activities augment the market in the region. Moreover, high prices
of products, rapid adoption of new devices, and increase in incidence of
premature births in the U.S. propel the neonatal intensive care respiratory
devices market in North America. A report published by the WHO in 2016 stated
that the U.S. ranked sixth in the world in premature births. According to data
released by the FDA in 2016, nearly 6% of 4 million births in the U.S. each
year requires NICU admission and majority of them is due to preterm
birth.
Getinge AB, Vyaire
Medical, Inc. (BD), and GE Healthcare Dominated the Market
Key companies operating in the global neonatal intensive
care respiratory devices market and profiled in the report include Getinge AB,
Vyaire Medical, Inc. (BD), GE Healthcare, Teleflex Incorporated, Drägerwerk AG
& Co. KGaA, Medtronic plc, Mercury Medical, Inspiration Healthcare Group
plc, and Trudell Medical International.
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