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Comprehensive Market Analysis: Bilirubin Meters Market Segmentation
Bilirubin Meters Market
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Market Overview
The global Bilirubin Meters Market, segmented by product (Transcutaneous Devices and Benchtop), age group (Neonates and Adults), indication (Jaundice, Hepatitis, and Others), and end user (Hospitals & Nursing Home, Clinics, and Others), is projected to reach ~US$ 500 Mn by 2030, growing at a CAGR of ~7% from 2020 to 2030. The increase in demand for effective diagnosis of neonatal jaundice is a key driver for this growth.
Online Follow-up Programs during COVID-19
The COVID-19 pandemic has presented unique challenges in managing neonatal jaundice. Companies in the market are responding by promoting online follow-up programs, enabling convenient monitoring of neonates. These programs help reduce stress on healthcare systems and meet the requirements of remote healthcare services amidst the pandemic.
Non-Invasive Devices and Market Trends
Non-invasive transcutaneous bilirubin meters, particularly handheld devices, are gaining popularity. Companies like Koninklijke Philips N.V. are focusing on marketing non-invasive devices for jaundice assessment. The market is estimated to witness exponential growth, reaching ~US$ 500 Mn by 2030.
Technological Advancements and Challenges
While the market is poised for growth, there are challenges related to discrepancies in total serum bilirubin (TSB) measurement using transcutaneous devices. Manufacturers are investing in R&D to address these issues and improve the technology for different racial groups.
Global Expansion through Online Sales
Companies are broadening their supply chains through online sales, tapping into incremental opportunities and establishing transparency through product reviews. Efforts to develop low-cost, point-of-care devices are increasing, especially targeting low- and middle-income countries in regions like Asia Pacific.
Market Drivers and Future Outlook
The rise in demand for portable/handheld diagnostic devices, coupled with the continuous innovation in device design, is boosting the market. Despite challenges, manufacturers are focusing on improving clinical outcomes by eliminating the need for reagents.
Competitive Landscape
The Bilirubin Meters Market is moderately fragmented, with major players including F. Hoffmann-La Roche Ltd., Koninklijke Philips N.V., Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Siemens Healthineers AG, and others. Individual strategies and key developments in the market, such as product launches and innovations, contribute to the competitive landscape.
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