Los Angeles, October 15, 2019 –QY Research recently published a research report, titled, “Global NICU Ventilators Market Research Report 2019.” The report gives a brief overview of the various areas playing a crucial role in market dynamic. The experts have analyzed the report by studying factors like growth rate, revenue, and competitive landscape. The report also predicts qualitative factors like historic and forecast data. The global NICU ventilator market is a fast-growing sector due to increasing need to care for premature babies with respiratory health conditions.
The global NICU ventilators market was valued at around US$300 mn in 2018 and is projected to cross over US$430 mn by 2024, rising at a CAGR of more than 6% between 2019 and 2024.
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Increased Instances of Premature Births with Respiratory Conditions to Boost Demand
NICU ventilator or neonatal intensive care units are used to treat newborn babies with respiratory diseases, small tidal volumes, high airway resistance, and low-compliance lungs. These units are used to increase survival chances such premature babies. It works as intensive care respiratory device to assist premature babies to breathe better. The ventilators have multiple components to support babies, such as breathing circuit, associated alarms, gas source for oxygen (O2) and compressed air, humidification system, gas-delivery systems, and monitor. They offer integration of several devices in a single system, fueling the demand in this market. Increasing investments by governments for the development of healthcare infrastructure has further boosted the global NICU ventilators market.
Hospitals to Hold Lion’s Share in Global NICU Market
The types of devices used in the global NICU ventilators market are ventilators, nebulizers, inhalers, airway pressure devices, and others. The application of the NICU ventilators can be seen in hospitals, nursing homes, clinics, and others. The hospital segment accounts for the largest shares in the global NICU ventilators market.
Asia Pacific to Register Significant Growth in Global Market
North America is expected to a hold major share in the global NICU ventilators market due to the rising number of premature births. Asia Pacific is also expected to show high growth rate as governments are increasingly investing in healthcare infrastructure. Furthermore, rising awareness about respiratory diseases amongst premature babies is also expected to create a positive influence on the regional market. High adoption of new technologies in European countries is also aniticipated to boost sales of NICU ventilators.
Manufactures to Introduce New Customized and Safer Products
Hamilton Medical recently launched a new product, Nuflow nasal cannulas, which is a NICU ventilator for HFOT in newborns. It is available in four different sizes with one adapter (OD 15 mm) and one pair of fixation patches. The high flow of cannulas are compatible with the HAMILTON-H900 breathing circuit. The Hamilton Medical development strategy is aimed at providing ventilators in different sizes according to the need of the newborn. Efforts to improve safety of NICU ventilators will help companies to combat intense competition in the global NICU ventilators market better during the forecast period.
The key players include Vyaire Medical, ACUTRONIC, Hamilton Medical, Lowenstein Medical, Dragerwerk, Medtronic, GE Healthcare, Getinge, Magnamed, Heyer Medical, SLE and Comen, and others.
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