Infant Phototherapy Market trends research and projections for 2019-2025

Infant Phototherapy Market size is projected to experience significant growth from 2019 to 2025.
Growing prevalence of neonatal jaundice across the globe will stimulate global infant phototherapy market growth in the forthcoming years. According to the Centers for Disease Control and Prevention (CDC), jaundice occurs in 80% of preterm and 60% of term infants. The prevalence of hyperbilirubinemia is more in developing regions as compared to developed regions. Hence, with growing number of neonatal jaundice cases, the demand for therapeutic services will increase, thereby augmenting the need for phototherapy.

Technological advancement in the phototherapy devices is anticipated to drive the global infant phototherapy devices in the forthcoming years. For instance, the team of researchers at the Swiss Federal Laboratories for Material Science and Technology developed phototherapy pajamas for neonatal jaundice treatment. The fabric was developed as an alternative to conventional phototherapy systems that caused inconvenience to the infant. Hence, recent technological advancements in the manufacturing of novel products will enhance the business growth in the near future.

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However, adverse side-effects and complications of phototherapy will negatively impact industry growth. It is anticipated that infants that underwent phototherapy are at increased risk of cancer. Additionally, the availability of alternative method of treatments along with stringent regulatory policies will be the major growth limiting factors.

Fiber-optic phototherapy segment will progress at a significant pace over the forecast years owing to several advantages of the technique. Fiber-optic phototherapy is a novel phototherapy technique that includes pad of optic fibers through which the light is applied directly to the skin of the infant, this enables the infant to be treated near to their parents. The technique is proved to be more effective in preterm infants. The complications of conventional phototherapy including retinal injury and other eye complications are overcome by the use of fiberoptic phototherapy devices making it more preferable.

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Phototherapy bili-blankets is anticipated to grow at momentous pace over the foreseeable future owing to its portability. Bili-blankets are gaining popularity as they are less expensive and easy to use at home. Additionally, the side-effects related to phototherapy lamps such as retinal damage is overcome by the use of Bili-blankets. Above-mentioned advantages of Bili-blankets will increase its adoption rate in the coming years.

LED lights will dominate the market over the forthcoming years due to its efficacy and safety. LED light source is more preferable because of the advantages such as fewer side effects, less energy consumption, longer life span, and less expensive. Additionally, LEDs are less fragile and do not produce high intensity of light. Above-mentioned advantages are expected to upsurge the demand for LED light sources in the upcoming years.

Home-based phototherapy is expected to foresee significant expansion over the projected timeframe. The segment growth is attributed to certain advantages such as reduced cost of hospitalization and waiting time. Furthermore, home-based phototherapy strengthens the bond of mother and infant. The above-mentioned advantages are expected to further drive the adoption of home-based phototherapy devices resulting in the industry growth.

U.S. infant phototherapy market will foresee a momentous growth owing to the presence of well-established healthcare infrastructure and introduction of novel products in the region. High prevalence of jaundice and increased identification of infants with hyperbilirubinemia will spur the demand for phototherapy devices. Additionally, the existence of key players along with high awareness about devices in the region will further impact the growth of infant phototherapy.

India infant phototherapy market is anticipated to grow at a significant pace owing to the increasing birth rate and high incidence of hyperbilirubinemia in infants. Additionally, the presence of local players and high healthcare expenditure will boost Indian infant phototherapy business growth during the forthcoming period.

Some of the major players involved in the global infant phototherapy market are Ibis Medical, General Electric Company, avihealthcare, Natus Medical Incorporated, Signify Holding (Philips). among others. Companies are adopting business growth strategies including acquisitions and mergers to upsurge their market share along with the introduction of novel products. For instance, in February 2019, Phoenix Medical Systems (P) Ltd. introduced Nymphaea for the treatment of jaundice in preterm infants.