According to the latest report published by Variant Market Research, the global infant phototherapy devices market size is projected to reach $115 million by 2025 from $75 million in 2017. In this report,infant phototherapy devices market forecast says that the global market is growing at a CAGR of 5.5% from 2017 to 2025. By geography, Asia-Pacific and Europe are expected to grow at a CAGR of 7.3% and 5.2%, respectively, during the forecast period. During the treatment of neonatal jaundice, phototherapy devices are used to decrease bilirubin level in infant with help of light. Various light sources such as light-emitting diodes (LEDS), fluorescent lamps, quartz halogen lamps, and gas discharge tubes are used to treat the neonatal jaundice.
"Infant Phototherapy Devices Market (By Light Source: Light-Emitting Diodes (LEDS), Fluorescent Lamps, Quartz Halogen Lamps, and Gas Discharge Tubes; By Configuration: Mobile Device and Fixed Device; By End User: Hospitals and Neonatal Clinics; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025"
Increasing prevalence of neonatal jaundice drives the global infant phototherapy devicesmarket
The global infant phototherapy devices market trend includes high effectiveness of phototherapy than other treatment methods, increasing prevalence of neonatal jaundice, and technological enhancements in phototherapy devices. Though, unfavorable effects of the phototherapy treatment might act as a roadblock for the global Infant Phototherapy Devices market growth. Moreover, immense market potential in the developing countries is likely to offer worthwhile opportunities for the market in the coming years.
The global infant phototherapy devices market has been bifurcated into light source, configuration, end user, and geography. Light source is segmented into light-emitting diodes (LEDS), fluorescent lamps, quartz halogen lamps, and gas discharge tubes. Mobile device and fixed deviceare the subsegments of configuration. End user includes hospitals and neonatal clinics.
By geography, global infant phototherapy devicesmarket is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further split in U.S. Mexico, and Canada whereas Europe segment consists of Germany, UK, France, Spain, Italy, and Rest of Europe. Asia-Pacific is segmented into China, Japan,India, Australia, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Light-emitting diodes (LEDS), by light source accounted for the major market share in 2017
On the basis of light source, light-emitting diodes (LEDS) dominated the global market in 2017 with maximum market share and likely to continue the trend over the forecast period, driven by advantages of LEDs such as their intensity does not decline with time, and can be used at least 3,000 hours, and they are less breakable.
In configuration segment, mobile devices lead the global market with maximum market share in 2017
In configuration, mobile devices segment held dominant position in 2017 and would continue to maintain the trend over the forecast period. The growth of the segment is attributed to the fact that mobile devices are portable & can be taken anywhere as per the need, so are suitable to use. This is particularly helpful for rural hospitals.
North America dominated the global market with highest market share over the forecast period
North America dominated the global market with largest market share of 43.98% in 2017 and expected to continue the trend during the forecasted period.The growth is attributed high preterm birth ratein this region. This is expected to boost the demand for the infant phototherapy devices in the region over the coming years.
Key players are offering innovative products and services to increase their infant phototherapy devices market share. Main players competing in the market include., D-Rev,Atom Medical Corporation, AVI Healthcare Pvt. Ltd., General Electric Company, Ibis Medical Equipment & Systems Pvt. Ltd.,Ningbo David Medical Device Co., LTD, Weyer GmbH, Zhengzhou Dison Instrument and Meter Co., Ltd., and Beijing Julongsanyou Technology Co., Ltd., and Natus Medical Incorporated, among others.