Neonatal jaundice is a major concern amongst new-borns and is a common cause of morbidity in the crucial first few months of life. Approx. 80% of preterm new-borns can suffer from neonatal jaundice making its effective treatment a critical health issue. Future Market Insights has conducted an exhaustive study on the neonatal phototherapy devices market in its upcoming report titled ‘Neonatal Phototherapy Devices Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027’. The neonatal phototherapy devices market is anticipated to witness a CAGR of 5.3% for the period 2017-2027 and grow to more than US$ 140 million by then.
Product Type – Traditional Phototherapy Commonly Preferred by Hospitals
Traditional phototherapy devices are the most commonly used product type in the neonatal phototherapy devices market on account of their relative affordability – especially relevant in emerging economies. Traditional phototherapy devices have an improved lifespan and can easily be attached to an incubator. The National Institute of Health found that almost 15 million babies are born premature around the world with significantly increasing figures over the past few decades. This is the surest sign that the need for foetal, neonatal, and prenatal care equipment will skyrocket in the future, benefiting the neonatal phototherapy devices market.
The development of advanced technologies in North America and Western Europe should propel the neonatal phototherapy devices market with a strong demand for products such as LED phototherapy units. Traditional phototherapy devices are primarily used by hospitals as they are easy to install, simple to use, and durable. Furthermore, the height of the phototherapy lamp can be easily adjusted. A number of non-profit organisations and large players in the neonatal phototherapy devices market are collaborating on the development of cost-effective phototherapy units that can treat neonatal jaundice at the minimal cost in emerging economies.
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