Neonatal Phototherapy Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Neonatal Phototherapy Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : October, 2020 | Medical Devices | PPT format

Report Digest


Global Neonatal Phototherapy Devices Market: Snapshot

The global neonatal phototherapy devices market has tread along a healthy growth path in the recent years and continue to expand at a promising pace. The market has massively expanded in the face of the rising prevalence of neonatal jaundice across the globe. Rise in government plans, regulations, and interventions aimed at arresting these numbers and establishing advanced healthcare infrastructure across a number of regional markets have also boosted the adoption of technologically advanced neonatal phototherapy devices globally.

The market has thus expanded at a promising pace in regions such as Asia Pacific and Middle East and Africa in the past few years. Apart from rise in government interventions, rise in disposable incomes in these regions have also spelled growth for the neonatal phototherapy devices market. In the next few years, as North America and Europe markets continue to expand at healthy rates, presently the dominant and most lucrative regional markets for neonatal phototherapy devices, the markets in Asia Pacific and Middle East and Africa will also advance to account for a substantial share in the global market.

The market is also expected to benefit from the vast rise in the number of companies entering the market. The rise in competition will bring about an urgency to focus on innovations and development of products with more effective features. Rise in the level of competition in the market is also expected to bring down the costs of products, thus enabling more effective outreach to cost-sensitive regional markets and regions with untapped growth opportunities.

Neonatal Phototherapy Devices Market: Overview

Neonatal phototherapy devices are medical devices which are used for the treatment of neonatal jaundice. Why is conventional phototherapy devices are most commonly made use of in photo therapy, new little phototherapy devices have benefits such as improved lifespan and ease of connectivity to incubators. Traditional phototherapy devices on the other hand are more affordable and hands more commonly used. Nevertheless during the forecast period, it is anticipated that the global new needle for the therapy devices Market will witness a considerable growth.

The different types of neonatal phototherapy devices available in the markets today are traditional phototherapy lamps, flexible phototherapy lamps, and phototherapy beds. It is expected that the launching of new products will bolster the growth of the global United phototherapy devices Market.

Neonatal Phototherapy Devices Market: Drivers and Trends

One of the key factors boosting the demand for neonatal phototherapy devices is the growing prevalence of neonatal jaundice. The increasing adoption of technology advanced medical devices as well as rising expenditure on Healthcare are some of the other factors that are assisting the neonatal phototherapy devices market to grow in various parts of the world. The growing initiative taken by governments to improve health care for new-borns and children will also ate the growth of this market. In addition to this the rising demand for effective treatment for neonatal jaundice, will subsequently drive the demand for neonatal phototherapy devices. Hospitals and Homecare settings are two of the end users of neonatal phototherapy devices.

There are a few factors which are hindering the growth of the global United phototherapy devices Market. One of the factors acting as a challenge is the stringent regulatory policies associated with product approvals. Loan approval rating time is acting as a challenge and restricting the growth of this Market. In addition to this the unavailability of new natal phototherapy devices especially in rural areas will also hamper the growth of this Market. Moreover, a lack of skilled professionals also pose a challenge.

Neonatal Phototherapy Devices Market: Regional Analysis

Geographically, the global United phototherapy devices Market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Of these the growth of the neonatal photo therapy devices Market is highest in North America on account of constant Innovation as well as adoption of Advanced Technologies as well as awareness among the people. The presence of sophisticated Healthcare infrastructure in North America is another key factor behind the growth of the market in this region. Europe is another key market for new devices on account of several initiatives taken by government as well as major Innovative products introduced by manufacturers in Europe. In the years to come, it is expected that asia-pacific will emerge as a lucrative market for neonatal phototherapy devices on account of the rising birth rate in countries such as China and India as well as advancements in the healthcare infrastructure in this region. Similarly Latin America is also expected to be a lucrative regional market in the years to come on account of the adoption of new technologies as well as an increase in the health care spending.

Companies Mentioned:

Koninklijke Philips N.V. (Netherlands), Natus Medical Incorporated (U.S.), Novos Medical Systems (Turkey), General Electric Company (U.S.), Atom Medical Corporation (Japan), Dragerwerk AG & Co. KGaA (Germany), Phoenix Medical Systems Pvt. Ltd (India), Medela AG (Switzerland), BabyBloom Healthcare BV (Netherlands).

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?