Yahoo Finance Infant Oxygen Hoods Market Size to Surpass US$ 31.7 Million by 2031, as per Transparency Market Research, Inc.
Rise in prevalence of respiratory disorders in infants and the urgent need for cutting-edge respiratory therapies is expected to lead to infant oxygen hoods market growth in the next few years.
Wilmington, Delaware, United States, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – In 2021, the infant oxygen hoods market value was USD 12.6 Mn, which is anticipated to grow at a CAGR of 9.6% during the forecast period (2022 to 2031), states the research report.
Infant oxygen hoods give respiratory treatment to newborns. These devices treat premature babies and children suffering from congenital respiratory disorders. Infant oxygen hoods are made using acrylic glass or polycarbonate, which are sturdy, resilient, and easy to sterilize. Neonatal oxygen hoods, baby oxygen hoods, and newborn oxygen hoods help control respiratory problems and improve overall health by offering precise oxygen flow to the infant. Digital neonatal care monitors are devices that treat respiratory failure in newborns and premature babies.
TMR research estimates a rise in the number of premature infants and children with congenital respiratory problems in the near future. The increase in need for neonatal respiratory treatment creates substantial prospects for market players. Dominant businesses are concentrating on implementing cutting-edge technology to gain major share in the market.
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Infant Oxygen Hoods Market: Growth Drivers
Technological advancements enable the creation of safer and more effective infant oxygen hoods. Innovative and advanced devices that use modern materials and technologies are boosting the global infant oxygen hoods market.
Growth in incidence of premature births have expanded the market for newborn care products such as infant oxygen hoods. Advanced medical facilities have also increased newborn oxygen hood market revenue.
Key Findings of Infant Oxygen Hoods Market
The infant oxygen hoods market was dominated by the polycarbonate segment in terms of material, in 2021. This may be attributed to technology developments and a rise in new product launches. Polycarbonates are robust and long-lasting and can be used in oxygen hoods. As compared to other materials, it is clear, shatterproof, lightweight, and easy to sterilize and maintain. Hence, this segment has gained utmost traction.
Based on usage, the market share of reusable hoods was the highest in 2021. Reusable hoods are better for the environment. Thus, cost effectiveness and environment safety are the driving factors responsible for the segment’s growth.
Unlike disposable hoods, reusable hoods can be used more than once, which decreases waste. Since they may be used again, they are more affordable than disposable hoods, which must be replaced after each use. Thus, hospitals and other healthcare organizations choose reusable newborn oxygen hoods in order to cut costs. As a result, the reusable hoods segment is anticipated to dominate the market in the next years
The hospitals & clinics end-user category accounted for a sizeable share of the market in 2021. Considerable demand for newborn oxygen hoods is seen due to rise in number of infants seeking treatment in hospitals and clinics.
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Infant Oxygen Hoods Market: Regional Dynamics
In terms of infant oxygen hoods market share, North America was the dominant region in 2021. The trend is expected to continue throughout the forecast period. The market in the region is projected to develop significantly due to high rate of premature births and accessibility to technologically advanced medical facilities.
Rise in awareness about the importance of newborn care and the pressing demand for innovative medical products in Asia Pacific is predicted to offer market prospects in the region. Increase in specialized neonatal care facilities has been attributed to increased healthcare infrastructure investment and adoption of cutting-edge healthcare equipment in countries such as India and China.
Infant Oxygen Hoods Market: Competitive Landscape
The infant oxygen hoods market research contains crucial details about the major companies' active in the global industry. Major businesses are concentrating on strategies including product release, mergers and acquisitions (M&A), and collaborations to expand their market reach.
Leading companies in the market include
Zhengzhou Dison Instrument and Meter Co., Ltd.
GaleMed Corporation,
Phoenix Medical Systems (P) Ltd.
GE Healthcare
Dräger, Fanem
Nice Neötech Medical Systems Pvt. Ltd.
Ningbo David Medical Device Co., Ltd. (David Medical)
S S Technomed (P) Ltd.,
GINEVRI SRL
Utah Medical Products, Inc.
Olidef Medical
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Infant Oxygen Hoods Market: Segmentation
Material
Acrylic Glass
Polycarbonate
Others
Usage
Disposable Hoods
Reusable Hoods
End-user
Hospitals & Clinics
Research & Academic Institutes
Others
Regions
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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