Infant Phototherapy Devices Market Is Expected To Increase In The Near Future, Owing To Rise in Prevalence of Neonatal Jaundice, Especially In The Developing Regions
Phototherapy is to use light to treat newborn jaundice. During this process, the baby's body is exposed to light for a period of time under controlled conditions. This light is absorbed into the skin of newborn babies and breaks down complex bilirubin into simple, water soluble compounds. It may be released into the body by urine or feces.
Increased jaundice in infants, increased effectiveness of phototherapy over other therapies, and technological advances in the field of ultraviolet light are leading market growth. However, side effects of phototherapy are expected to curb market growth. In addition, the enormous market potential of developing countries is expected to provide some opportunities for market growth during the forecast period.
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Key players profiled in this report include
• Atom Medical Corporation
• AVI Healthcare Pvt. Ltd.
• 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
• Meter Co. Ltd.
Based on light source, LED garnered more than four-fifths of the market share in 2016, and is expected to maintain its dominant position during the analysis period, as it has proved to be the most effective light in the breakdown of bilirubin into simpler forms.
Based on configuration, the mobile device segment held the major share (more than four-fifths) in 2016, and is expected this trend throughout the forecast period.
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Key Findings of the Infant Phototherapy Devices Market:
• The LED segment is expected to grow with a CAGR of 5.5% from 2017 to 2023.
• Mobile device is expected to grow at the highest CAGR of 5.4%.
• The hospitals segment held a major share (two-thirds) in the global market in 2016, and is expected to retain it throughout the forecast period.
• Asia-Pacific is expected to register the highest growth, growing at a CAGR of 6.7% during the forecast period.
North America accounted for one-third share of the global market in 2016, and is expected to remain dominant throughout the forecast period. This is attributed to high adoption rate of technologically advanced devices, and presence of highly sophisticated healthcare infrastructure in the region.
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