Infant Phototherapy Market Report 2023: Sector to Reach $117.8 Million by 2027 at a 4.4% CAGR
DUBLIN, Jan. 25, 2023 /PRNewswire/ -- The "Infant Phototherapy Market, Global Forecast 2023-2027, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Global Infant Phototherapy Device Market will reach USD 117.80 Million in 2027 by expanding at a CAGR of 4.44% from 2022 to 2027, according to the publisher. Phototherapy is one of the most essential and easy methods to treat neonatal jaundice infants. With phototherapy, i.e., the use of light, the bilirubin level in an infant can be reduced, which leads to jaundice. In the treatment, light waves are absorbed by the skin and blood of the infant, succeeding in the failure of bilirubin.
According to the (UK) National Collaborating Centre for Women's and Children's Health estimates, Jaundice is one of the most common conditions requiring medical attention in newborn babies. Approximately 60% of term and more than 80% of preterm babies develop jaundice in the first week of life, and about 10% of breastfed babies are still jaundiced at one month of age.
Infant phototherapy devices are clinically proven and technologically advanced instruments that assist in treating neonatal jaundice. They also help cure hyperbilirubinemia by irradiating the infant with light that oxidizes the bilirubin in the blood. As they are convenient and low-cost, time-saving, their application is increasing in hospitals and nursing homes across the global. According to our research report, the Worldwide Infant Phototherapy Market was US$ 94.82 Million in 2022.
According to World Health Organization (WHO), India's current infant mortality rate in 2022 is 27.69/1000 deaths per live birth, a 3.74% decline from 2021. Increases in the effectiveness of phototherapy rise in the number of patients with neonatal jaundice are expected to drive the Global Infant Phototherapy Device Market. Furthermore, low-ease treatment and the development of healthcare infrastructure are also expected to propel significant market growth. However, the side effect of phototherapy treatment and alternate modes of treatment, such as IVIG treatment & exchange transfusion, are expected to restrain the growth of the Global Infant Phototherapy industry.
Fluorescent Lamps dominate the Market
By Type, the Global Infant Phototherapy Market has been categorized into; Fluorescent Lamps (FL), Light Emitting Diodes (Led), Quartz Halogen Lamps, and Gas Discharge Tubes. The Fluorescent Lamps will dominate the market at a high CAGR during the upcoming period due to the rising healthcare expenses from private insurers and the government as well as rapid technological developments.
Mobile device holds the largest market
Depending upon Configuration, the Global Infant Photography Market is segmented into two types Mobile Devices and Fixed Devices. The mobile device will hold the largest market share due to total serum belibirum (TSB) values, which reveals an inexpensive technology that uses commodity smartphones to effectively screen newborns for jaundice.
Hospitals are gaining more market share
The market is differentiated into two types Hospital and Neonatal Clinics. Hospitals will dominate the worldwide due to increased demand for phototherapy devices. The primary factors driving the expansion of hospitals are patients' rising propensity to seek treatment in hospitals and the high volume of surgeries performed.
North America is one of the most significant Regions
Based on Region, the Global Infant Phototherapy Devices Market has been segmented into Europe, North America, Asia-Pacific, and Rest of World. North America dominates the market revenue due to rise in numbers of diagnosis and treatment of jaundice, High R&D infrastructure facilities, increasing consumer awareness, advanced health care infrastructure, presence of key players, heightened awareness towards phototherapy devices are among the population, and technological advancements in the region driving the market effectively.
Europe also holds the significant share in the global infant phototherapy market, attributed to the increased rate of treatment and diagnosis of jaundice, availability of products, and highly developed health care. Asia Pacific is also gaining more market share in upcoming years due to recent development in countries like India, and China.
Key Players Insight
Key players in Global Infant Phototherapy Market are Atom Medical Corporation, Natus Medical Incorporated, Ningbo David Medical Device Co., Ltd, Koninklijke Philips N.V, Becton, Dickson and Company, Inspiration Healthcare Group Plc., Nihon Kohden and Dragerwerk AG & Co. KGaA.
In 2022, The Atom Medical Corporation product name Atom Phototherapy Analyzer II instrument measuring both the irradiance useful for phototherapy and the luminance in the NICU provides effective treatment for neonatal jaundice.
By Type: The Global Infant Phototherapy Market is break-up into four parts:
1. Fluorescent Lamps (FL)
2. Light Emitting Diodes (Led)
3. Quartz Halogen Lamps
4. Gas Discharge Tubes
By Configuration: The Global Infant Photography Market is break-up into two types:
1. Mobile Devices
2. Fixed Devices
By End Users: The Global Infant Photography Market is break-up into two types:
1. Hospital and
2. Neonatal Clinics
Region: The Global Infant Photography Market is break-up into four types:
1. North America
4. Rest of World
Key Topics Covered:
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
5. Global Infant Phototherapy Device Market
6. Market Share - Global Infant Phototherapy Device Market
7. Type - Global Infant Phototherapy Device Market
8. Configuration - Global Infant Phototherapy Device Market
9. End User - Global Infant Phototherapy Device Market
10. Region - Global Infant Phototherapy Device Market
11. Key Players
- ATOM MEDICAL CORPORATION
- NATUSMEDICAL INCORPORATED
- Ningbo David Medical Device Co., Ltd
- Koninklijke Philips N.V
- Becton, Dickson, and Company
- Inspiration Healthcare Group Plc.
- Nihon Kohden
- Dragerwerk AG & Co- KGaA.
For more information about this report visit https://www.researchandmarkets.com/r/io8l3v
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