Wilmington, Delaware, United States, March 15, 2023 (GLOBE NEWSWIRE) -- The size was valued at US$ 780.1 Mn in 2022 and is expected to reach more than US$ 1.6 Bn by 2031 with CAGR of 7.9%. Increase in adoption of effective therapies to treat respiratory distress syndrome (RDS), notably surfactant therapy and oxygen therapy, is likely to create sizable revenues in the global market. Significant number of babies born preterm leads to high prevalence of RDS in infants, and is expected to create extensive demand for optimal and effective treatments.
Surge in demand for surfactant replacement therapy and increase in utilization of mechanical ventilation are trends poised to accelerate the neonatal respiratory distress syndrome treatment market development. Continuous improvement in neonatal intensive care in hospitals has led to significant therapy demand in the neonatal respiratory distress syndrome treatment market.
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Recent market trends underscore that continuous improvement in diagnosis of neonatal lung disorders in the past few years have led to better clinical outcomes in neonatal respiratory distress syndrome treatment. Increase in number of clinical trials to develop therapies to reduce severity of respiratory distress in infants is likely to open up lucrative avenues for companies in the global neonatal respiratory distress syndrome treatment market.
Neonatal Respiratory Distress Syndrome Treatment Market - Competitive Dynamics
Key players in the global neonatal respiratory distress syndrome treatment market are adopting mergers and acquisitions in order to gain revenue benefits. They are also keen on restructuring their product portfolio and launching devices that can effectively treat severe respiratory disorders including RDS in neonates.
Leading players operating in the market are Windtree Therapeutics, Inc., Medtronic, Drägerwerk AG & Co. KGaA, GE HealthCare, Koninklijke Philips N.V., Smiths Medical Inc., Fisher & Paykel Healthcare, Synthetic Biologics, Inc., and Synairgen.
Global Neonatal Respiratory Distress Syndrome Treatment Market - Key Findings
- Significant Demand for Neonatal Respiratory Distress Syndrome Treatment in Hospitals: Hospitals offer advanced treatment modalities to manage respiratory distress syndrome in neonates. Additionally, hospitals offer a range of treatment options to manage RDS, especially in premature babies (preterm neonates/infants). The hospital segment is projected to hold major share in the global market from 2023 to 2031.
- Substantial Utilization of Surfactant Therapies: Surfactant therapy, in particular surfactant replacement, is extensively utilized to treat or manage RDS in neonates. A market research study by TMR reveals that high adoption of surfactant therapies among the patient population has generated significant revenues in the past few years. The surfactant therapy segment is expected to account for leading share in the near future. Technological advancements in extracorporeal membrane oxygenation (ECMO) to treat newborn infants with respiratory failure is likely to fuel the neonatal respiratory distress syndrome treatment market growth. Furthermore, surge in adoption of oxygen therapy and mechanical ventilation is anticipated to bolster market development.
- Advances in Neonatal Care to Reduce Morbidity Rate of RDS in Neonates: RDS is a major cause of morbidity in preterm infants worldwide. High awareness about the health burden has led to considerable advancements in neonatal care in both developed and developing countries. Global healthcare agencies such as the WHO are increasing focus on improving care for women and preterm newborns in low- and middle-income countries. This is likely to fuel new growth opportunities for the market.
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Global Neonatal Respiratory Distress Syndrome Treatment Market - Key Drivers
- High prevalence of respiratory distress syndrome (RDS) in preterm neonates is a key factor expected to propel the market growth. Prolonged and unattended RDS is considered a significant risk factor for neonatal death among preterm infants.
- Advancements in advanced respiratory care for neonates in hospitals are poised to favorably influence demand in the neonatal respiratory distress syndrome treatment industry.
Neonatal Respiratory Distress Syndrome Treatment Market - Regional Growth Dynamics
North America is projected to account for leading share in the global neonatal respiratory distress syndrome treatment market during the forecast period 2023–2031. Rise in rate of preterm births and adoption of advanced neonatal care in the region are expected to fuel the market growth from 2023 to 2031. Prominent medtech companies in the market focus on commercializing next-generation RDS treatment modalities in the healthcare industry in North America. An example is point-of-care treatment modality.
Asia Pacific is also a lucrative market. Growth of the market is expected to be primarily driven by rise in awareness about respiratory distress syndrome in neonates and constant advancements in healthcare infrastructure in numerous developing countries including India and China. However, low access to medical treatment for neonates in some developing countries is a challenge for the expansion of the market in Asia Pacific.
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Neonatal Respiratory Distress Syndrome Treatment Market Segmentation
Therapy
- Oxygen Therapy
- Nasal Cannula
- Continuous Positive Airway Pressure
- Ventilator
- Surfactant
- Others
End-user
- Hospitals
- Sub-acute Facilities
- Home Care
- Others
Regions Covered
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Latin America
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