In 2021, the market for Infant Oxygen Hood worldwide was worth $ 12.5 million US dollars. WMR Group projects that the market will reach US$ 31 billion by 2031, growing at a CAGR of 9.5 percent between 2022 and 2031.
Industry Overview:
Baby oxygen hoods are medical equipment created to give oxygen therapy to neonates with respiratory problems. When it comes to the treatment and prevention of newborn hypoxia, oxygen is a crucial medicine. Yet, excessive oxygen use can cause serious and persistent abnormalities. Generally speaking, these devices are used to treat premature infants and newborns who were born with congenital respiratory problems. A hose or tube is used to connect oxygen hoods to the oxygen source. An infant’s head is enclosed in a clear plastic shell called an oxygen hood, a type of delivery hood.
Market Dynamics:
In Infant Oxygen Hood Market there is an increase in incidences of respiratory disorders among newborns is a major factor driving the global infant oxygen hoods market. As respiratory problems are common in newborns, particularly premature infants and those born with congenital respiratory issues. These issues could be ranged from mild to severe, and require different forms of treatment, which includes oxygen therapy. According to the World Health Organization (WHO) in 2019, respiratory problems are the leading cause of morbidity and mortality in infants and babies, particularly in developing economical countries. The report estimates that approximately 16% of neonatal deaths globally were due to respiratory issues.
Technological advancements are driving the infant oxygen hoods market by providing the development of more advanced devices that incorporate advanced technologies & materials. These advancements gave a higher effectiveness and safety of infant oxygen hoods. High Demand for Lightweight, Transparent Devices and Shatter-resistant. This can be ascribed to technological advancements, advantages, and rise in launching of new products. Furthermore, high treatment cost is a factor that is likely to hamper the growth of the Infant Oxygen Hood which may restrain the market growth.
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Market Segmentation
Based upon the Material used in the Infant Oxygen Hood market is segmented in Acrylic Glass and Polycarbonate. The polycarbonate material dominated the infant oxygen hoods market in 2021. Polycarbonate is a strong and durable material, proving it suitable for usage in oxygen hoods. It is lightweight, transparent, shatter-resistant and easy to sterilize & maintain compared to other materials. Based on the usage, the Infant Oxygen Hood market is segmented into Disposable Hoods and Reusable Hoods. In the usage segment the most dominant market is reusable hoods which covered the largest infant oxygen hoods market share in 2021. This segment is driven by cost-effectiveness devices and environmental safety.
End user segment of Infant Oxygen Hood market is further bifurcated into Hospitals & Clinics and Research & Academic Institutes. The hospitals & clinics segment held major share of the global market in 2021. Demand for medical equipment, including infant oxygen hoods, is high in hospitals & clinics due to the rising number of patients visiting for treatment.
By Material
• Acrylic Glass
• Polycarbonate
By Usage
• Disposable Hoods
• Reusable Hoods
By End User
• Hospitals & Clinics
• Research & Academic Institutes
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COVID Impact
The COVID-19 pandemic has had a negative impact on the business. Outbreak of the virus and the simultaneous lockdowns and restrictions on non-essential businesses led to a direct decline in demand for infant oxygen hoods. Hospitals & neonatal care facilities were restricted to reduce the capacity or shut down completely, leading to a decrease in infant oxygen hoods market demand. This was further aggravated by the decrease in the number of medical procedures performed due to the pandemic. Many procedures that require the usage of Oxygen hood devices were postponed or canceled due to the pandemic which led to a decrease in demand for these devices. However, demand for these devices has been recovering after the resolving restrictions. Hospitals & neonatal care facilities have started to re-open, and the demand for medical procedures has simultaneously increased. Similarly, demand for infant oxygen hoods is also expected to recover in the upcoming years.
Regional Trend:
Geographically, North America dominated the Infant Oxygen Hood market and had the largest revenue share in 2021. The growth in this region can be attributed to due to high incidence of premature births and availability of advanced medical facilities. However, High incidence of premature birth has led to a rise in demand for infant oxygen hoods and other neonatal care products. Availability of advanced medical facilities has also contributed to the increase in infant oxygen hoods industry revenue in North America. According to WHO (World Health Organization), the preterm birth rate in the U.S. is around 10.1%, which is one of the highest in the world. Preterm birth is found to be a major cause of respiratory distress in newborns.
Key Benefits for Stakeholders:
● The research study provides the latest information on the market drivers, challenges, and opportunities.
● The research identifies the leading and fastest growing regional industries. It further enables stakeholders to identify the key country-level markets within each region.
● Porter’s five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Infant Oxygen Hood industry and its attractiveness.
● Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
