Neonatal Respiratory Care Devices Market Size, Share & Industry Analysis, By Product Type (Devices {Bubble CPAP Systems, Mechanical Ventilators, Extracorporeal Membrane Oxygenation (ECMO), Others (Humidifiers, etc.)}, Accessories & Consumables {Masks, Nasal Prong Cannula, Breathing Circuits Resuscitators, Others (Filters, HMEs, regulators, cables, adaptors, etc.)}), By End User (Hospitals and Specialty Clinics), and Regional Forecast, 2021-2028

The global neonatal respiratory care devices market size was USD 1,546.9 million in 2020 and is projected to grow from USD 1,636.2 million in 2021 to USD 2,431.3 million in 2028, at a CAGR of 5.8% in the 2021-2028 period. North America dominated the neonatal intensive care respiratory devices market with a market share of 44.74% in 2020. Additionally, the global market was not impacted by the COVID-19 pandemic owing to the rare occurrence of COVID-19 infections in neonates. The global impact of COVID-19 has been unprecedented and staggering, with neonatal respiratory care devices witnessing normal product demand across all regions amid the pandemic. 

According to the World Health Organization (WHO), approximately 15 million babies are born per year worldwide, resulting in a rate of 11% of preterm birth. Preterm births require the baby to be admitted to intensive care units for respiratory support. This factor is resulting in the rise of neonatal intensive care unit (NICU) admissions. According to various research studies published in NCBI, in the U.S., around 1% of neonates suffer from respiratory distress syndrome after birth. Additionally, it is the leading cause of death in neonates in the country.

Respiratory distress syndrome (RDS) is also the most common infection of the lungs in neonates. This generally results when the baby’s lungs are not fully developed during premature delivery. The rising cases of respiratory distress syndrome have boosted medical device companies to invest in the development and manufacturing of advanced devices to provide continuous airway pressure in neonates. Therefore, increasing NICU admissions, as well as a higher prevalence of RDS in neonates, is attributable to the neonatal respiratory care devices market growth during the forecast period

LATEST TRENDS

Focus on Strategic Agreements and Collaborations by Companies to Improve Market Potential 

The fundamental aim of companies operating in the global market is to provide effective treatment options for improving neonatal health. Therefore, to materialize this aim, industry players are putting enormous efforts into R&D through strategic agreements, collaborations, and expansion of funding’s. For example, in June 2020, Inspiration Healthcare plc acquired SLE, a neonatal ventilation product provider, for the sum of £18 million, followed by a successful fundraising round. In addition, the firm received £5 million of adult ventilator orders from the NHS and a U.S. Patent. Also, the increasing demand for advanced devices for treatment is continuously compelling companies to invest and undergo subsequent mergers to surge the market potential during the forecast period.

DRIVING FACTORS

Higher Incidence Rate of Respiratory Distress in Neonates to Drive Product Demand

Globally, the prevalence of neonatal respiratory distress syndrome is increasing rapidly owing to the preterm births and respiratory problems in neonates. RDS is quite common in neonates and is the primary reason for NICU admissions. Recommended treatment for the syndrome is the supply of continuous oxygen with the help of respiratory airway devices such as a nasal cannula, resuscitator, ventilators, or other respiratory devices. The increasing incidence rate of the disorder is therefore demanding advanced respiratory airway devices for neonates. This has led to a surge in demand for CPAP devices, respiratory consumables, and others. Therefore, the rising respiratory distress in newborns is anticipated to propel the demand for neonatal respiratory devices during the forecast period 2020-2027.

Strong Focus of Key Players on the Development of Advanced Neonatal Respiratory Care Devices to Bolster Market Growth

The demand for therapeutically effective devices has accelerated the need for innovations and the development of high-quality and featured neonatal equipment among key players present in the market. The rising technological advancements have supported the growing demand for ventilators, CPAP systems, and classified accessories in developed and emerging economies. For example, in November 2018, the SLE launched OxyGenie Auto O2 controller for SLE 6000. This device is designated to control stimulated oxygen delivery to keep the neonatal patient’s SpO2 level in the range. Therefore, the active focus of companies operating in the neonatal respiratory care devices market on launching sophisticated products to ensure better quality care is expected to drive the market growth during the forecast duration.

RESTRAINING FACTORS

Lesser Adoption of Advanced Respiratory Care Devices in Low and Middle-income Countries to Hinder Growth

Healthcare infrastructure development has been slower in the low and middle-income countries owing to the lack of adequate funds for development. This would eventually result in compromising the adoption of sophisticated devices for patient care. Also, the lack of awareness of the WHO and CDC guidelines pertaining to the NICU care and protocol to be followed, especially in low-income countries, would result in the inappropriate management of NICU patients. The above mentioned factors will lead to the lower demand for respiratory products from these countries, thereby impacting the overall sales of medical device companies.

SEGMENTATION

By Product Type Analysis

Increased Demand for Respiratory Devices in the NICU to Propel Devices Segment 

Based on the product type, the global market has been segmented into devices and accessories & consumables. The devices segment accounted for the major market share in 2020. The factor attributable to this growth is the rising importance of respiratory care devices in the management of respiratory distress syndrome, pneumonia, and other respiratory diseases in neonates, as well as the launch of more accurate and technologically advanced products in the market. For instance, the NICU admission rate in the U.S. is 93.5 per 1,000 live births, responsible for the high demand for respiratory devices.

According to the Victorian Agency for Health Information, respiratory distress syndrome in neonates poses the greatest risk in premature infants and requires higher-level management in the NICU. This is expected to boost the demand for mechanical ventilators, bubble continuous positive airway pressure (CPAP) systems, extracorporeal membrane oxygenation (ECMO), and others.

On the other hand, the accessories & consumables segment accounted for a significant share in the market in 2020 and is likely to have an accelerating growth rate during the forecast period. The growth of the segment is expected to rise owing to the increasing preference for accessories & consumables such as nasal cannulas, resuscitators, breathing circuits, nebulizers, and others for the treatment of neonates.

By End-User Analysis

Rising NICU Admissions at Hospitals to Support Growth of this Segment

In terms of the end-user, the global neonatal respiratory care devices market is segmented into hospitals and specialty clinics. The hospitals segment holds the lion’s share globally due to the increased NICU admissions and sales of devices for the treatment of respiratory disorders, mainly respiratory distress syndrome in neonates.  The adoption of neonatal ventilators, CPAP systems, and other respiratory devices with an aim to improvise neonatal intensive care units in hospitals worldwide has contributed to the higher growth of the segment. Moreover, the specialty clinics segment accounted for a significant share in the global market in 2020 owing to the preference of treatment at nearby clinics having advanced care facilities for neonatal respiratory care.

REGIONAL INSIGHTS

The market size in North America stood at USD 692.1 million in 2020. The dominance of this region is attributable to the increasing prevalence of neonatal respiratory distress syndrome, coupled with the higher NICU admissions due to respiratory conditions. Additionally, the launch of multiple advanced products by medical device companies in the U.S. is another factor contributing to the region's growth. For instance, in January 2020, Nihon Kohden OrangeMed, Inc. received the U.S. FDA premarket notification for its Nihon Kohden NKV-550 Series Ventilator System to support neonatal respiratory care.

Europe holds the second-largest position in the market owing to the huge investments in R&D for the development of neonatal respiratory care devices. This, along with the higher sales of products, is expected to drive growth during the forecast period.

 Asia Pacific is anticipated to witness the highest CAGR due to the growing demand for accessories & consumables, coupled with the increasing development of healthcare infrastructure to establish a fully-equipped NICU.

On the other hand, Latin America and the Middle East & Africa are likely to witness a comparatively slower growth rate due to the lower incidence rate of neonatal respiratory disorders and the lack of product approvals in these regions.

KEY INDUSTRY PLAYERS

Continuous Product Improvements to Surge Demand Would Lead to Increased Sales of Companies

The market is consolidated, with few players accounting for the maximum share. Fisher & Paykel Healthcare Corporation holds the dominant position in the market owing to its wide range of neonatal respiratory care devices and consumables. Also, significant R&D investments by companies such as Drägerwerk AG & Co. KGaA and GE Healthcare have led to the capturing of significant shares in the global market. For instance, in November 2020, Drägerwerk AG & Co. KGaA announced the upgradation of PulmoVista 500 monitors that help in delivering ventilation information in pediatrics, as well as adult patients. Other players, including Vyaire Medical, Galemed Corporation, and SLE, with the help of strategic acquisitions and adoption of new technologies, are likely to establish considerable market positions during the forecast period.

LIST OF KEY COMPANIES PROFILED:

• Airon Corporation (Florida, U.S)


• Drägerwerk AG & Co. KGaA (U.K, Europe)


• Fisher & Paykel Healthcare Limited (Auckland, New Zealand)


• GaleMed Corporation (Taiwan)


• GE Healthcare (Chicago, U.S)


• Hamilton Medical (Bonaduz, Switzerland)


• Medtronic (Dublin, Ireland)


• VYAIRE MEDICAL, INC (Illinois, U.S)


• SLE (U.K, Europe)


• Other Players

KEY INDUSTRY DEVELOPMENTS:

• April 2019 – InnAccel launched the world’s first portable neonatal CPAP device called SAANS for infants with respiratory distress syndrome. SAANS can be used across multiple settings and clinical applications.


• April 2019 – Drägerwerk AG & Co. KGaA received the FDA approval for the Seattle Positive Airway Pressure (PAP) Plus System for newborns with respiratory distress syndrome.

REPORT COVERAGE

The global neonatal respiratory care devices market research report provides a detailed analysis of the market. It focuses on key aspects such as leading companies, product type, and leading segments of the devices and accessories & consumables. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the developed market in recent years.

Report Scope & Segmentation