Jaundice is one of the most serious diseases occurring among infants and may lead to serious damage if not treated properly. It is caused due to increased levels of bilirubin in the blood as the liver is unable to metabolize bilirubin in a proper way. There are three main types of jaundice: a) hepatocellular jaundice, which is caused by liver injury, b) hemolytic jaundice, which occurs due to the abnormal breakdown of red blood cells, and c) obstructive jaundice, which is caused due to obstructions in the bile duct.
Phototherapy technology is one of the most common methods for the treatment of jaundice in newborns. This technology includes an application of a light wave to the skin, which is absorbed by the skin and blood. The absorbed light wave breakdowns bilirubin in the blood and eliminates it through the liver and kidneys.
The global infant phototherapy devices market is primarily driven by factors such as rise in the number of newborns/infants, rise in cases of newborns suffering from jaundice, increase in treatment rate of jaundice, and development of medical infrastructure. Furthermore, the presence of major players in the market and availability of products are likely to boost the growth of the global infant phototherapy devices market during the forecast period. However, the market is anticipated to encounter challenges in terms of stringent regulatory conditions and laws pertaining to intellectual property rights in the near future. Nevertheless, technological advancement and rise in mergers and acquisitions are expected to propel the global infant phototherapy devices in the coming years.
The global infant phototherapy devices market can be classified based on light source, product, end-user, and region. In terms of light source, the market can be segmented into fluorescent lamps, gas discharge tubes, quartz halogen tubes, and light-emitting diodes. Based on product, the global infant phototherapy devices market can be categorized into fixed devices and mobile devices. The fixed devices segment constituted a significant market share in 2017, whereas the mobile device segment is anticipated to expand at a high growth rate during the forecast period. In terms of end-user, the global infant phototherapy devices market can be divided into hospitals, specialized clinics, and others. The hospitals segment accounted for a prominent market share in 2017, whereas the others segment is anticipated to expand at a rapid CAGR in the next few years.
Based on region, the global infant phototherapy devices market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held a leading share of the global infant phototherapy devices market in 2017, owing to a highly developed medical device industry, high rate of diagnosis and treatment of jaundice, well-established health care infrastructure, presence of major players, high awareness about phototherapy devices among end-users, and technological advancements in the region. In Europe, Germany, France, and the U.K. accounted for a major share of the infant phototherapy devices market in 2017. The market in Italy and Spain is expected to expand at a significant growth rate during the forecast period. A highly developed health care industry, high rate of diagnosis and treatment of jaundice, availability of products, presence of major players, and participation of small companies in the market are key factors that contributed to the high share of Germany, France, and the U.K. in the infant phototherapy devices market in Europe in 2017. Developing health care infrastructure and technological advancements are likely to propel the infant phototherapy devices market in Italy and Spain in the next few years.
China and Japan held a dominant share of the infant phototherapy devices market in Asia Pacific in 2017. The infant phototherapy devices market in India is estimated to expand at a significant CAGR in the near future, owing to an expansion in the medical device industry, presence of well-established domestic players, and intense competition between domestic and international players in the country. An underdeveloped medical device industry and lack of awareness about infant phototherapy devices are likely to hamper the infant phototherapy devices market in Latin America and Middle East & Africa during the forecast period.
Key players operating in the global infant phototherapy devices market are Natus Medical Incorporated, AVI Healthcare Pvt. Ltd., General Electric Company, Ibis Medical Equipment & Systems Pvt. Ltd., Weyer GmbH, Atom Medical Corporation, and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.