Global Neonatal Phototherapy Market, By Type (Convectional Phototherapy Equipment, LED Phototherapy Equipment, Fiber Optic Phototherapy Equipment), Product Type (Traditional Phototherapy Lamps, Phototherapy Beds, Flexible Phototherapy Lamps), Application (Skin Diseases Treatment, Neonatal Jaundice Management) – Industry Trends and Forecast to 2030.
Neonatal Phototherapy Market Analysis and Size
According to WHO, it was projected in 2015 that 4/5th of preterm infants acquired jaundice. Preterm birth rates can be more than 7% in developed countries and are even more in highly developing ones. The National Institute of Health journal projected that healthcare costs associated with preterm American births in terms of medical expenditure and lost efficiency were more than US$ 26 billion in 2005.
Data Bridge Market Research analyses that the neonatal phototherapy market is expected to reach USD 1575.18 million in 2030 from USD 1034.2 million in 2022, with a CAGR of 5.4% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Neonatal Phototherapy Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Convectional Phototherapy Equipment, LED Phototherapy Equipment, Fiber Optic Phototherapy Equipment), Product Type (Traditional Phototherapy Lamps, Phototherapy Beds, Flexible Phototherapy Lamps), Application (Skin Diseases Treatment, Neonatal Jaundice Management)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Natus Medical Incorporated (U.S.), Novos Medical Systems (Turkey), tom Medical Corporation (Japan), Dragerwerk AG & Co. KGaA (Germany), Phoenix Medical Systems Pvt. Ltd (India), Medela AG (Switzerland), BabyBloom Healthcare BV (Netherlands), Koninklijke Philips N.V (Netherlands), Siemens Healthcare GmbH (U.S.), General Electric (U.S.), Analogic Corporation (U.S.), Hitachi, Ltd. (Japan), Toshiba Corporation (Japan), C-RAD (Sweden), Elekta (Sweden), Accuray Incorporated (U.S.), Atom Medical Corp (Japan), Weyer GmbH (Japan), Zhengzhou Dison Instrument and Meter Co., ltd (China), Ibis Medical (India)
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Market Opportunities
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Market Definition
Neonatal phototherapy devices are the kind of medical devices that are used for the treatment of neonatal jaundice. Neonatal jaundice is a type of disease that occurs in maximum of the new born babies and if left untreated, it may lead to extreme hyperbilirubinemia that causes neurological damage or death. Today's different kinds of neonatal phototherapy devices are flexible, traditional, and phototherapy beds.
Neonatal Phototherapy Market Dynamics
Drivers
- Rapid Technological Advancements
The rising technological innovations are expected to support companies investing in user-friendly blue spectrum radiation sources and control panel phototherapy devices. Major stakeholders are persistently working on LED radiation sources as they can control radiation intensity and consume minimal power. Several companies in the neonatal phototherapy devices market are primarily focusing on devices with a peak wavelength of 460 nm that can be mounted on an incubator or a warmer to prevent infrared and ultraviolet radiation.
- Active Contribution of Home-based Phototherapy
Home-based phototherapy units have numerous advantages such as transportation cost, reduced patient hassle, and hospital waiting time. Additionally, home-based phototherapy diminishes both direct and indirect healthcare costs and also helps in the improvement of mother-infant bonding. An article published in the U.S. National Library of Medicine indicated that approximately US$ 18,000 was saved by a little over 60 infants in their homes as opposed to hospitals and there were no reported side-effects. Thus, this therapy boost the growth of the market.
Opportunities
- Increase in Psoriasis Cases
According to National Psoriasis Foundation, about 125 million people worldwide suffer from psoriasis, about 2-3% of the total population. Likewise, as per the National Eczema Association, about 31.6 million people in the U.S. suffer from eczema. Furthermore, 1 in every 10 individuals is expected to suffer from eczema once in their lifetime. Thus, it necessitates the demand of phototherapy.
- Advantageous Properties of Conventional and Traditional Phototherapy
The conventional little phototherapy devices have multiple benefits such as improved lifespan and ease of connectivity to incubators. Also, whereas traditional phototherapy devices are more affordable and hands more regularly used and thus these promote the wider adoption of phototherapy.
Restraints/Challenges
- High Cost of Neonatal Phototherapy
Neonatal phototherapy devices are tremendously expensive making it unaffordable in several hospitals which has limited funds and cannot afford to continue such equipment. For instance, a Stanford study said that several hospitals in Nigeria and India were unable to source an average of six phototherapy bulbs that cost approximately US$ 15 per bulb because they needed to be replaced every 4 months. Thus, many companies try to make their neonatal phototherapy devices cost-effective but it is still under process.
This neonatal phototherapy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the trauma product market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Neonatal Phototherapy Market Scope
The neonatal phototherapy market is segmented on the basis of type, product type, application The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Convectional Phototherapy Equipment
- LED Phototherapy Equipment
- Fiber Optic Phototherapy Equipment
Product Type
- Traditional Phototherapy Lamps
- Phototherapy Beds
- Flexible Phototherapy Lamps
Application
- Skin Diseases Treatment
- Neonatal Jaundice Management
Neonatal Phototherapy Regional Analysis/Insights
The neonatal phototherapy market is analyzed and market size insights and trends are provided by type, product type, application as referenced above.
The countries covered in the neonatal phototherapy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the neonatal phototherapy market due to continually updating recommendations and guidelines on screening for hyperbilirubinemia and increasing awareness of the effectiveness of the latest launched neonatal phototherapy in this region.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because of the increase in the number of births of preterm babies and a huge number of people who are suffering from skin disorders can be credited to the high growth rate.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The neonatal phototherapy market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for neonatal phototherapy market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the neonatal phototherapy market. The data is available for historic period 2011-2021.
Competitive Landscape and Global Neonatal Phototherapy Market Share Analysis
The neonatal phototherapy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to neonatal phototherapy market.
Some of the major players operating in the neonatal phototherapy market are:
- Natus Medical Incorporated (U.S.)
- Novos Medical Systems (Turkey)
- tom Medical Corporation (Japan)
- Dragerwerk AG & Co. KGaA (Germany)
- Phoenix Medical Systems Pvt. Ltd (India)
- Medela AG (Switzerland)
- BabyBloom Healthcare BV (Netherlands)
- Koninklijke Philips N.V (Netherlands)
- Siemens Healthcare GmbH (U.S.)
- General Electric (U.S.)
- Analogic Corporation (U.S.)
- Hitachi, Ltd. (Japan)
- Toshiba Corporation (Japan)
- C-RAD (Sweden)
- Elekta (Sweden)
- Accuray Incorporated (U.S.)
- Atom Medical Corp (Japan)
- Weyer GmbH (Japan)
- Zhengzhou Dison Instrument and Meter Co., ltd (China)
- Ibis Medical (India)
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