Neonatal Phototherapy Market Trends, Share, and Forecast By 2030
Neonatal Phototherapy Market Trends, Share, and Forecast By 2030
Data Bridge Market Research analyses that the neonatal phototherapy market is expected to reach USD 1575.18 million in 2030 from USD 1034.2 million in 2022, with a CAGR of 5.4% during the forecast period 2023 to 2030

An in-depth analysis of the most recent developments and novel technological advancements included in the  Neonatal Phototherapy Market study provides users with a free hand to introduce their exceptional products and processes to update service contributions. This comprehensive market research report emphasizes the most recent trends, growth, and new business opportunities, providing a broad review of the global market. The statistics collected are graphically presented in this market research report, comprising key performers, vendors, and suppliers. The Neonatal Phototherapy Market business document highlights the commands and drivers influencing the market.

The world-class Neonatal Phototherapy Market research report focuses on the leading competitors in the global market and delivers information about the company overview, including contacts, product portfolio, key developments, price, cost, value, volume, revenue, capacity, and production. The report also includes estimations of all market drivers and restraints, mainly obtained from SWOT analysis, while providing CAGR projections for the historic year 2020, base year 2021, and the forecast period of 2022-2029. The first-class Neonatal Phototherapy Market report also measures existing development trends and patterns along with distribution and marketing channels.

According to WHO, it was projected in 2015 that 4/5th of preterm infants acquired jaundice. Preterm birth rates can be more than 7% in developed countries and are even more in highly developing ones. The National Institute of Health journal projected that healthcare costs associated with preterm American births in terms of medical expenditure and lost efficiency were more than US$ 26 billion in 2005.

Data Bridge Market Research analyses that the neonatal phototherapy market is expected to reach USD 1575.18 million in 2030 from USD 1034.2 million in 2022, with a CAGR of 5.4% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Explore Further Details about This Research Neonatal Phototherapy Market Report https://www.databridgemarketresearch.com/reports/global-neonatal-phototherapy-market

REPORT METRIC

DETAILS

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Type (Convectional Phototherapy Equipment, LED Phototherapy Equipment, Fiber Optic Phototherapy Equipment), Product Type (Traditional Phototherapy Lamps, Phototherapy Beds, Flexible Phototherapy Lamps), Application (Skin Diseases Treatment, Neonatal Jaundice Management)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Natus Medical Incorporated (U.S.), Novos Medical Systems (Turkey), tom Medical Corporation (Japan), Dragerwerk AG & Co. KGaA (Germany), Phoenix Medical Systems Pvt. Ltd (India), Medela AG (Switzerland), BabyBloom Healthcare BV (Netherlands), Koninklijke Philips N.V (Netherlands), Siemens Healthcare GmbH (U.S.), General Electric (U.S.), Analogic Corporation (U.S.), Hitachi, Ltd. (Japan), Toshiba Corporation (Japan), C-RAD (Sweden), Elekta (Sweden), Accuray Incorporated (U.S.), Atom Medical Corp (Japan), Weyer GmbH (Japan), Zhengzhou Dison Instrument and Meter Co., ltd (China), Ibis Medical (India)

Market Opportunities

  • Advantageous Properties of Conventional and Traditional Phototherapy
  • Increase in Psoriasis Cases

 

Market Definition

Neonatal phototherapy devices are the kind of medical devices that are used for the treatment of neonatal jaundice. Neonatal jaundice is a type of disease that occurs in maximum of the new born babies and if left untreated, it may lead to extreme hyperbilirubinemia that causes neurological damage or death. Today's different kinds of neonatal phototherapy devices are flexible, traditional, and phototherapy beds.

Neonatal Phototherapy Market Dynamics

Drivers

  • Rapid Technological Advancements

The rising technological innovations are expected to support companies investing in user-friendly blue spectrum radiation sources and control panel phototherapy devices. Major stakeholders are persistently working on LED radiation sources as they can control radiation intensity and consume minimal power. Several companies in the neonatal phototherapy devices market are primarily focusing on devices with a peak wavelength of 460 nm that can be mounted on an incubator or a warmer to prevent infrared and ultraviolet radiation.

  • Active Contribution of Home-based Phototherapy

Home-based phototherapy units have numerous advantages such as transportation cost, reduced patient hassle, and hospital waiting time. Additionally, home-based phototherapy diminishes both direct and indirect healthcare costs and also helps in the improvement of mother-infant bonding. An article published in the U.S. National Library of Medicine indicated that approximately 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. Thus, this therapy boost the growth of the market.

Opportunities

  • Increase in Psoriasis Cases

According to National Psoriasis Foundation, about 125 million people worldwide suffer from psoriasis, about 2-3% of the total population. Likewise, as per the National Eczema Association, about 31.6 million people in the U.S. suffer from eczema. Furthermore, 1 in every 10 individuals is expected to suffer from eczema once in their lifetime. Thus, it necessitates the demand of phototherapy.

  • Advantageous Properties of Conventional and Traditional Phototherapy

The conventional little phototherapy devices have multiple benefits such as improved lifespan and ease of connectivity to incubators. Also, whereas traditional phototherapy devices are more affordable and hands more regularly used and thus these promote the wider adoption of phototherapy.

Core Objective of Neonatal Phototherapy Market:

Every firm in the Neonatal Phototherapy Market has objectives but this market research report focus on the crucial objectives, so you can analysis about competition, future market, new products, and informative data that can raise your sales volume exponentially.

Size of the Neonatal Phototherapy Market and growth rate factors.

  • Important changes in the future Neonatal Phototherapy Market.
  • Top worldwide competitors of the Neonatal Phototherapy Market.
  • Scope and product outlook of Neonatal Phototherapy Market.
  • Developing regions with potential growth in the future.
  • Tough Challenges and risk faced in Neonatal Phototherapy Market.
  • Global Neonatal Phototherapy Market top manufacturers profile and sales statistics.

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