Neonatal Phototherapy Devices Market 2020 Outlook and Study of Top Players – Medela AG, Dragerwerk AG & Co., Weyer GmbH, General Electric Company, Natus Medical Incorporated

Precision Business Insights published a research report on “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”

The global neonatal phototherapy devices market was estimated to value $72 million in 2016. It is forecasted to reach 101$ million by 2023, growing at a CAGR of 5.2%. Increased adoption of LED-type phototherapy devices and massive market potential in the developing regions is estimated to fuel the neonatal phototherapy devices market.

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Neonatal phototherapy devices are the medical devices used in the treatment of neonatal jaundice. Neonatal jaundice is a common condition seen in new-borns caused by the accumulation of unconjugated serum bilirubin in the bloodstream. It causes yellowish discoloration of the skin and sclera of the baby. Neonatal jaundice is estimated to affect almost 50% to 80% of infants and usually appears after 2-4 weeks after birth and resolves within a few days. However, in few cases, high bilirubin levels can lead to complications such as seizures, cerebral palsy, and even death, if left untreated.

Phototherapy is one of the most effective, safe and, non-invasive methods for treating neonatal jaundice. Neonatal Phototherapy devices produce high-intensity blue light in the visible light spectrum in the range of 460-490 nm. This blue light reduces the high levels of serum bilirubin, by oxidizing the insoluble bilirubin to a simpler water-soluble form that can be easily eliminated from the body.

The neonatal phototherapy devices market is primarily driven by advancements in the healthcare devices industry and the effectiveness of phototherapy compared to other treatment modalities. The growing incidence of neonatal jaundice cases and technological advancements in infant phototherapy treatment is anticipated to boost the global neonatal phototherapy devices market.

However, the possible side effects of phototherapy, stringent government regulations for product approval, and low access to phototherapy devices in rural areas are considered to be the key restraints in the neonatal phototherapy device market.

The neonatal phototherapy devices market is segmented based on end-user type, light source, and configuration. Depending on the end-user, the market is segmented into hospitals/neonatal clinics and home-care settings. Based on the light source, the market is divided into light-emitting diodes (LEDs), Quartz halogen lamps, fluorescent lamps and, gas discharge tubes. Based on the configuration, the phototherapy devices are of fixed or mobile types.

Geographically, the global neonatal phototherapy devices market is segmented into North America, Europe, Asia-pacific, Latin America, and Africa. North America is considered to be one of the major revenue-generating regions in the global neonatal market devices market owing to its well-established medical device industry, high consumer awareness, and advanced technologies.

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The European market is estimated to grow during the forecast period 2020 – 2025, due to the newer government policies in neonatal healthcare, vast patient pool, and rapid healthcare developments in this region. The Asia-Pacific market is expected to witness an increase in market size owing to the rising awareness in advanced phototherapy and the overall improvement in healthcare infrastructure. The Middle East and Africa market is forecasted to grow at a notable rate due to government initiatives in child healthcare and increased awareness about neonatal health among key stakeholders.

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