Phototherapy refers to the usage of light in the treatment of jaundice in toddlers. It’s the most not unusual technique to reduce bilirubin (the compound that leads to jaundice) tiers in babies. In the course of phototherapy, a toddler lies in a plastic crib, and is exposed to a type of mild that is absorbed by its skin.
Neonatal phototherapy devices are the scientific gadgets used in the treatment of neonatal jaundice. Neonatal jaundice occurs in a majority of new child toddlers and if untreated, it may reason intense hyperbilirubinemia that ends in neurological harm or demise. Conventional phototherapy devices are usually used in the phototherapy because of their relative affordability. These devices have stepped forward lifespan and easily connected to the incubator.
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Europe Neonatal Phototherapy devices market size turned into round USD 124.1million in 2018. It’s expected to grow at a CAGR of 4.4% to attain USD 153.91 million by 2023. It captures 25% of the worldwide market.
Drivers and Restraints:
Growth in the superiority and incidence of neonatal jaundice, technological advancements in the phototherapy devices, government initiations for brand spanking new-born and childcare, and rise in a demand for powerful treatment for neonatal jaundice are expected to fuel the market growth. The primary drivers of growth in the neonatal phototherapy gadgets market are the high frequency of neonatal jaundice, rising demand for powerful neonatal jaundice treatment and control, and a more cognizance of the lifestyles of such strategies.
However, stringent regulatory policies for product approval, lack of skilled professionals, and unavailability of devices in rural regions are expected to restrain the market growth.
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On the basis of geography the market is segregated into the United Kingdom, Spain, Germany, France, and others. Europe is the second one largest market. United Kingdom leads the market in Europe. Europe neonatal phototherapy devices market is growing because of adoption of more recent technologies, government initiations for neonatal health care, and launching of cutting-edge gadgets by the market players within the region.
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Some of the prominent players of the market include GE Healthcare (U.S.), Philips Lighting Holding B.V. (Netherlands), Natus Medical Incorporated (U.S.), Phoenix Medical Systems Pvt. Ltd. (India). Other players in the market are Herbert Waldmann GmbH & Co. KG (Germany), Atom Medical Corporation (Japan), nice Neotech Medical Systems Pvt. Ltd. (India), National Biological Corp. (U.S.), and Solarc Systems Inc. (Canada).
Scope of the report
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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