DUBLIN--(BUSINESS WIRE)--The "Infant Phototherapy Devices Market, Configuration, and End User - Global Opportunity Analysis and Industry Forecast, 2017-2023" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global infant phototherapy devices market was valued at $71,730 thousand in 2016, and is expected to reach $103,745 thousand by 2023, growing at a CAGR of 5.3% from 2017 to 2023.
Rise in prevalence of jaundice in infants, effectiveness of phototherapy over other treatment methods, and technological advancements in the field of infant phototherapy drive the market growth. Moreover, huge market potential in the developing regions is expected to offer several opportunities for market growth during the forecast period.
However, side effects of phototherapy treatment are expected to restrain the market growth.
Based on light source, LED garnered more than four-fifths of the market share in 2016, and is expected to maintain its dominant position during the analysis period, as it has proved to be the most effective light in the breakdown of bilirubin into simpler forms.
Based on configuration, the mobile device segment held the major share (more than four-fifths) in 2016, and is expected this trend throughout the forecast period.
North America accounted for one-third share of the global market in 2016, and is expected to remain dominant throughout the forecast period. This is attributed to high adoption rate of technologically advanced devices, and presence of highly sophisticated healthcare infrastructure in the region.
- The LED segment is expected to grow with a CAGR of 5.5% from 2017 to 2023
- Mobile device is expected to grow at the highest CAGR of 5.4%
- The hospitals segment held a major share (two-thirds) in the global market in 2016, and is expected to retain it throughout the forecast period
- Asia-Pacific is expected to register the highest growth, growing at a CAGR of 6.7% during the forecast period
- Atom Medical Corporation
- AVI Healthcare
- GE Healthcare
- Ibis Medical Equipment & Systems
- Natus Medical Incorporated
- Ningbo David Medical Device
- Novos Medical Devices
- Zhengzhou Dison Instrument and Meter
For more information about this report visit https://www.researchandmarkets.com/research/jv3778/_global?w=4