“The Global Neonatal Phototherapy Market is anticipated to reach about US$ XX Mn by 2025, and anticipated to expand at a CAGR over seven years of forecast period 2019-2025” owing to surge in prevalence of neonatal jaundice.
Precision Business Insights (PBI) in its report titled “Neonatal Phototherapy Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The Neonatal phototherapy market size was accounted for US$ XX Mn in 2018 and anticipated to account for US$ XX Mn by 2025. Raising funds by government for newborn and childcare, increased incidence of neonatal jaundice, greater scope for effective jaundice treatment propels the growth of neonatal phototherapy market in the forecast period. On the contrary, inflexible regulations for product approval, lack of skilled professionals, unavailability of devices in rural market restrains the growth of market.
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Neonatal phototherapy market segmented on the basis of product type, end user type.
Home-based Phototherapy is anticipated to Create Huge Opportunities.
Based on end-user type, neonatal phototherapy market segmented into hospitals, home care settings, and others. The largest end-user in the neonatal phototherapy devices market is undoubtedly hospitals and NICU’s. However, the high treatment cost and lack of adequate phototherapy units at the vast majority of neonatal phototherapy centers have assisted the growth of home-based phototherapy units. Home-based phototherapy units have several advantages such as reduced patient hassle, transportation cost, and hospital waiting time. Furthermore, home-based phototherapy reduces both direct and indirect healthcare costs and improves the mother-infant bonding. An article published in the U.S. National Library of Medicine stated that approx. US$ 18,000 was saved by a little over 60 infants in their homes as opposed to hospitals and there were no reported side-effects.
North America, Accounts for Major Revenue Share for Neonatal Phototherapy Market
Precision Business Insights (PBI) neonatal phototherapy market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa. According to regional analysis, North America is the market leader and is expected to remain so in the forecast period. U.S. expected to dominate the market. Europe is the second largest market. It is likely to experience sluggish growth in the forecast period. UK leads the market in Europe. Asia Pacific is the third largest market. It is estimated to be the fastest growing market in the aforementioned forecast period. China is the leading market in this region. Latin America is set on a high growth trajectory in the forecast period.
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Scintillating Market Strategy Play Vital Role in Neonatal Phototherapy Market
Key players are adopting various market strategy like new product launch, merger, and collaborations to constitute their spoor in the global market. For instance, in January 2015, Phoenix Medical Systems launched Brilliance Pro, neonatal phototherapy device with special features such as smarttilt to provide constant intensity across the baby’s skin.
The key players profiled in this report include Atom Medical Corporation, AVI Healthcare Pvt. Ltd., D-Rev, General Electric Company, Ibis Medical Equipment & Systems Pvt. Ltd., Natus Medical Incorporated, Ningbo David Medical Device Co., LTD, Novos Medical Devices San. Tic. Imp. and Ihr. Ltd. Sti., Weyer GmbH, Zhengzhou Dison Instrument, and Meter Co., Ltd.
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By Product Type
Flexible Phototherapy Lamps
Traditional Phototherapy Lamps
By End-User Type
Home Care Settings
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East and Africa
Rest of MEA
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