Jaundice meter Market is estimated to be US$ 108.3 million by 2030 and is anticipated to register a CAGR of 2.5% – By PMI
The Jaundice meter market Size, Share, Growth Analysis, By Type (Portable, and Bench-top), By Application (Hospital, and Home), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Trends, Analysis, and Forecast till 2030 report has been added to Prophecy Market Insights offering.
Covina, Nov. 02, 2023 (GLOBE NEWSWIRE) — What is a jaundice meter?
Jaundice is a condition caused by the build-up of a substance called as bilirubin in blood stream which causes yellowish of skin. With spectroscopic tools, it is possible to assess the skin’s condition by quantitative measures and to access information from deeper layers of skin not visible to the eye.
The growing demand for effective diagnosis of neonatal jaundice is one of the significant factors to fuel the growth of the market to a great extent. The technological advancements are also contributing the growth of the market during the forecast period. Further, huge investment in research & development activities to develop advanced medical devices is anticipated to increase the demand for Jaundice Meter market growth.
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|Jaundice meter market Value (2020)||US$ 85 million|
|Jaundice meter market Projected Value (2030)||US$ 108.3 million|
|Jaundice meter market CAGR (2020 – 2030)||2.5%|
Jaundice Meter Market, By Type:
Jaundice Meter Market, By Application:
The market dynamics of the jaundice meter market can be influenced by various factors, including technological advancements, healthcare trends, regulatory changes, and the prevalence of jaundice in newborns and adults. Here are some key aspects of the market dynamics for jaundice meters:
- Market Growth: The market for jaundice meters has witnessed steady growth in recent years, driven by the increasing incidence of jaundice in newborns and adults. This is due to factors such as a rise in premature births and an aging population.
- Prevalence of Jaundice: The prevalence of jaundice, especially in newborns, plays a crucial role in the market dynamics. Early detection and monitoring of jaundice in infants are essential to prevent complications. As a result, healthcare facilities are adopting jaundice meters for routine screening and monitoring.
The jaundice meter market has witnessed several major trends in recent years, driven by advancements in technology, changes in healthcare practices, and shifts in consumer preferences. Here are some of the major trends in the jaundice meter market:
- Non-Invasive Measurement:
- One of the significant trends in the jaundice meter market is the shift towards non-invasive measurement methods. Non-invasive or transcutaneous jaundice meters are becoming increasingly popular because they do not require blood sampling. These devices use optical technology to measure bilirubin levels through the skin, making the process more comfortable for patients, especially newborns.
- Point-of-Care Testing (POCT):
- The demand for point-of-care testing (POCT) is on the rise. Healthcare facilities are looking for devices that provide quick and on-the-spot results, allowing for immediate clinical decisions. Jaundice meters that offer rapid and accurate bilirubin level readings are gaining prominence.
The jaundice meter market faces several significant challenges, including regulatory hurdles, pricing pressures, competition, and the need for ongoing technological advancements. Regulatory compliance and quality standards can pose barriers to market entry, while pricing pressures can affect profit margins. Intense competition in the market drives the need for innovation and product differentiation. Continuous advancements in technology and improving accuracy and user-friendliness are crucial to staying competitive and addressing the unique healthcare needs of different regions and healthcare settings.
Presence of major players and growing market consolidation activities to launch new product and to strengthen its position in market has fruitful the demand for target market growth. The benefits of jaundice meter in accelerating appropriate care & treatment in neonatal who have an elevated bilirubin level is likely to propel market growth.
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Major market player included in this report are:
- Delta Medical International
- Xuzhou Kejian Hi-tech
- Aegis Medicals
- Natus Medical
- Refine Medical Technology
- Ningbo David
- Konica Minolta
- Micro Lab.
The jaundice meter market exhibits promising growth prospects, driven by technological advancements and increased awareness of the importance of early jaundice detection. However, it also faces challenges related to regulatory compliance, pricing pressures, and competition. To thrive in this dynamic landscape, manufacturers must continue to innovate, offer non-invasive solutions, and adapt to the evolving healthcare environment, including the expansion of telehealth and point-of-care testing.
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Some related Reports:
- Newborn Screening Market – The rising neonatal population, along with the rising prevalence of newborn disorders
- Genetic Testing Market – Trends, Analysis and Forecast till 2030
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