Neonatal Intensive Care Respiratory Devices Market by Size, Share, Growth Status, Opportunities and Challenges
The global Neonatal Intensive Care Respiratory Devices Market size market is projected to grow from USD 1,636.2 million in 2021 to USD 2,431.3 million in 2028. Fortune Business Insights™ published this information in a new study, titled, “Neonatal Intensive Care Respiratory Devices Market, 2021–2028.” As per the study, the market is set to exhibit a CAGR of 5.8% in the forecast period between 2021–2028.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/neonatal-intensive-care-respiratory-devices-market-103138
It stood at USD 1,546.9 million in 2020 and was not affected severely amid the COVID-19 pandemic owing to the rare occurrence of coronavirus in neonates. Various renowned companies operating in the market are striving to deliver effective treatment options to enhance the overall neonatal health. Inspiration Healthcare plc, for instance, acquired SLE worth £18 million in June 2020 to develop novel neonatal intensive care respiratory care devices.
Report Coverage-
Our analysts have conducted qualitative and quantitative research, as well as used a mix of both primary and secondary sources to gather vital information. They have taken data from paid sources, such as press releases, databases, company journals, and others to deliver a complete picture of the market for neonatal intensive care respiratory devices. To collect information about the competitive landscape, such as acquisitions, mergers, partnerships, joint ventures, and collaborations, they have conducted interviews with reputed figures.
Drivers & Restraints-
Rising Development of Ventilators and CPAP Systems to Augment Growth
The high demand for therapeutically effective devices has resulted in the increasing need for premium-quality neonatal equipment. Hence, renowned companies are developing innovative products with unique features. It is set to propel the Neonatal Intensive Care Respiratory Devices Market growth in the upcoming years. Besides, technological advancements worldwide are giving rise to the development of classified accessories, CPAP systems, and ventilators in developed and developing nations. In November 2018, for instance, SLE unveiled OxyGenie Auto O2 controller. It is meant for SLE 6000 and can keep the neonate’s SpO2 level in range