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Infant Phototherapy Devices Market is Expected To Register Highest Growth, Growing at a CAGR Of 5.3% during the Forecast Period

03-15-2019 09:21 AM CET | Health & Medicine

Press release from: Allied Market Research

Infant Phototherapy Devices Market

Infant Phototherapy Devices Market

Technological advances have played an important role in the growth of the infant phototherapy market. By introducing a blue LED as a light source, the efficiency of phototherapy treatment for newborn jaundice has been improved.

Rise in prevalence of jaundice in infants, effectiveness of phototherapy over other treatment methods, and technological advancements in the field of infant phototherapy drive the market growth. However, side effects of phototherapy treatment are expected to restrain the market growth. Moreover, huge market potential in the developing regions is expected to offer several opportunities for market growth during the forecast period.

Infant Phototherapy Devices Market was valued at $71,730 thousand in 2016, and is expected to reach $103,745 thousand by 2023, growing at a CAGR of 5.3% from 2017 to 2023.

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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
• 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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About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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