The prominent growth catalyst for the global phototherapy device market during the forecast period of 2021-2031 is the increasing acceptance of LED-based equipment across the globe. The expansion of different skin disorders and considerable demand for various technologically upgraded techniques coupled with widespread incidences of neonatal jaundice among the world's newborn population may contribute to the growth of the phototherapy device market over the course of the next few years.
Phototherapy devices are tools that have shown effectiveness in clinical settings and are technologically advanced. They are used in the treatment of infant jaundice. Irradiating the newborn with light that oxidizes the bilirubin in the blood is another method that is utilized to assist in the treatment of hyperbilirubinemia. They protect the brain from the neurotoxic effects of high serum unconjugated bilirubin levels and decrease the frequency with which newborns require exchange transfusions. They are wrapped around the baby and are fitted with an hour meter to record how long the bulb will last and how long the kid will be treated. As a result of its portability and low overall cost, its utilization is expanding in healthcare facilities and residential care facilities all over the world. All these aspects are likely to bring voluminous growth to the phototherapy device market.
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The phototherapy device delivers technical breakthroughs for the therapy, the gadget is obtaining a significant market share throughout the world. Concurrently, it has been widely used in newborn jaundice management applications. Additionally, the usage of compact fluorescent lights helps the product gain a healthy market share since the bulb offers consistency and convenience of use. These benefits are likely to open new growth avenues for the phototherapy device market.
Hospitals are further expected to dominate the global phototherapy device market over the coming years due to increased demand for phototherapy devices based on end-user. The primary factors driving the expansion are patients' rising propensity to seek treatment in hospitals and the high volume of surgeries performed; as a result, the phototherapy device market is absorbing a sizable chunk of the biotechnology.
Jaundice is becoming more common, particularly in premature infants, as a result of infections, liver disorders, enzyme deficiencies, and red blood cell abnormalities. This, together with considerable advancements in healthcare
Infrastructure throughout the world is one of the primary drivers driving market expansion.
Leading companies are developing novel light devices and alternative agents to reduce the negative effects of phototherapy, driving market development. Furthermore, they are developing effective eye protection that is simple to use, inexpensive, detachable, and safe for babies. This, together with the development of energy-efficient, portable, effective, and easy-to-clean equipment, is favorably affecting the use of newborn phototherapy devices in rural hospitals with limited resources and inexperienced staff.
Natus Medical Incorporated, Philips Lighting Holding B.V., Herbert Waldmann GmbH & Co. KG, GE Healthcare, Atom Medical Corporation, Nice Neotech Medical Systems Pvt. Ltd., Ltd., Solarc Systems Inc., The Daavlin Company, Phoenix Medical Systems Pvt., and National Biological Corporation, are some of the key players operating in the phototherapy device market.
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With the advancement of healthcare infrastructure with modern diagnostic solutions, Asia-Pacific is predicted to be the fastest-growing sector throughout the forecast period. Furthermore, the technological advancements in North America have created immense growth opportunities for the phototherapy device market in this region.
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