Neonatal Phototherapy Devices Market Growth and Major key players operating in the market are Philips, Medela, General Electric Company, Natus Medical Incorporated and Dragerwerk

Precision Business Insights published a research report "Global Neonatal Phototherapy Devices Market: By Product Type (Flexible Phototherapy Lamps, Traditional Phototherapy Lamps, Phototherapy Beds), By End-User (Hospitals, Home Care Settings), and Geography - Global/Region/Country Forecast to 2027", Global Neonatal Phototherapy Devices Market was valued at USD 512 Million in 2020 and is anticipated to grow at USD 683 Million till 2027 recording a CAGR of 4.2% during the forecast period 2021-2027.

Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on "Global Neonatal Phototherapy Devices Market: By Product Type (Flexible Phototherapy Lamps, Traditional Phototherapy Lamps, Phototherapy Beds), By End-User (Hospitals, Home Care Settings), and Geography - Global/Region/Country Forecast to 2027".

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Government initiatives are anticipated to impel the Neonatal Phototherapy Devices Market Growth

Neonatal phototherapy devices greatly help in treating neonatal jaundice. These devices work as best medical devices enhanced lifespan and connected to the incubator with ease. Neonatal jaundice occurs in newly born babies most of the time and if proper treatment is not given can result into severe hyperbilirubinemia, which can lead towards neurological damage or sometimes death. Due to the low cost of traditional phototherapy devices, they are generally used in the phototherapy.

There are several factors that affect the market neonatal phototherapy devices market growth such as government initiatives in different countries to make available best treatment options for newborn babies and collaboration of key players to develop cost-efficient neonatal therapy devices for treating jaundices in low cost. Growing awareness about the treatment and high frequency of neonatal jaundice are projected to impel the growth of the market. In addition, introduction of new products by industries of the market is also evaluated to strengthen the market revenue. For example, Phoenix Medical Systems introduced a neonatal phototherapy device called Brilliance Pro, which has unique features like smart tilt to give continuous intensity around the skin of the baby. Factors fuelling the market growth are increasing cases of neonatal jaundice and technological developments in phototherapy devices. But, the lack of capable experts, strict regulatory policies for the approval of the product and unavailability of devices in countryside areas are the factors, which can hinder the market over the forecast years 2021-2027.

Impact of COVID-19 on Neonatal Phototherapy Devices Market:

In addition, the report discusses the implications of COVID-19, including the industry's initial response and strategies for ensuring business continuity in the coming years.

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Neonatal Phototherapy Devices Market - Geographical Analysis

North America is experiencing significant market growth followed by Europe and Asia Pacific due to the sophisticated healthcare infrastructure, introduction of novel technologies and growing awareness about neonatal jaundice. Europe neonatal phototherapy devices market is witnessing considerable growth owing to the huge adoption of newly introduced technologies in the market and presence of leading key players in the region. Growing population of emerging countries like India and China in the Asia Pacific region increases the demand for neonatal phototherapy devices and this factor is anticipated to account for considerable revenue share in the Asia Pacific neonatal phototherapy devices market.

Competitive Analysis

Some of the major market players operating in the global neonatal phototherapy devices market are Koninklijke Philips N.V. (Netherlands), Medela AG (Switzerland), General Electric Company (U.S.), Natus Medical Incorporated (U.S.), Phoenix Medical Systems Pvt. Ltd (India) and Dragerwerk AG & Co. KGaA (Germany).

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