The Business Research Company's Neonatal Phototherapy Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
Is The Neonatal Phototherapy Market Set To Witness Substantial Growth?
The neonatal phototherapy market has witnessed robust growth in recent years, and it is only the beginning. According to data, the market size will be on an upward trend, growing from $1.06 billion in 2024 to $1.13 billion in 2025 at a compound annual growth rate CAGR of 6.4%. Various factors can be attributed to this growth, such as improved healthcare infrastructure, government health initiatives, training and education programs, support from non-profit organizations, and clinical research and studies.
The growth is not projected to slow down any time soon. In fact, the neonatal phototherapy market size is set for accelerated growth in the next decade. It is forecast to further escalate and reach $1.43 billion in 2029 at a compound annual growth rate CAGR of 6.2%. Prominent factors propelling this growth include the broadening of healthcare access, government health policies, economic growth in emerging economies, strengthening of training programs, and the implementation of public health initiatives in numerous countries.
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What Is Driving This Unprecedented Growth For Neonatal Phototherapy?
Surging birth rates are one significant factor propelling its expansion. Rising birth rates typically result from improved healthcare, higher fertility rates, cultural preferences for larger families, and increased immigration in certain regions. As a testament to this trend, in January 2023, the United States witnessed a 1% increase in registered births, totaling 3,664,292, compared to the previous year, as reported by the Centers for Disease Control and Prevention, a US-based national public health organization.
Neonatal phototherapy is critical for managing jaundice in premature infants by using light to break down excess bilirubin in their blood. This process helps mitigate the risk of severe complications like brain damage which are more prevalent in preterm babies due to their underdeveloped liver function and the likelihood of them developing jaundice. Understandably, rising birth rates are a primary driver for neonatal phototherapy market growth.
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Who Are The Major Players Operating In The Neonatal Phototherapy Market?
Cutting-edge companies like Siemens Healthcare GmbH, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Drägerwerk Aktiengesellschaft & Co. Kommanditgesellschaft auf Aktien, and Medela AG, among others, are at the forefront of the neonatal phototherapy market.
What Are The Emerging Trends In The Neonatal Phototherapy Market?
In keeping up with emerging trends, these frontline companies are focusing on developing innovative solutions, such as advanced open warmers, to enhance postnatal care for newborns. Advanced open warmers are medical devices used in neonatal care to maintain a stable body temperature in newborns and infants. Take, for example, Draeger India Pvt. Ltd, an India-based medical and safety technology company, who in October 2024, launched the BabyRoo TN300. This state-of-the-art device is designed to deliver optimal care for newborns, especially those needing intensive care after birth.
How Is The Neonatal Phototherapy Market Segmented?
1 By Type: Convectional Phototherapy Equipment, LED Phototherapy Equipment, Fiber Optic Phototherapy Equipment
2 By Product Type: Traditional Phototherapy Lamps, Phototherapy Beds, Flexible Phototherapy Lamps
3 By Application: Skin Diseases Treatment, Neonatal Jaundice Management
What Is The Regional Analysis Of Neonatal Phototherapy Market?
Interestingly, in 2024, North America was the largest region in the neonatal phototherapy market. However, the regions covered in the neonatal phototherapy market report show increased activity across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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