by The Jaundice Meter Market is estimated to be valued at US$ 93.09 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Jaundice meter, also known as bilirubinometer or transcutaneous bilirubinometer, is a medical device used to measure the level of bilirubin in the blood via skin. It non-invasively estimates bilirubin level by measuring the intensity of light reflected from or transmitted through skin. The device uses different wavelengths of light to estimate the level of bilirubin accumulated under the skin. It helps pediatricians detect jaundice in newborns without requiring blood tests. Higher adoption of jaundice meters is expected owing to advantages such as painless examination and quick reading.
Market Dynamics:
Increasing prevalence of neonatal jaundice is a key factor driving growth of the jaundice meter market. According to the World Health Organization (WHO), nearly 60% of newborns develop jaundice worldwide. Early detection and treatment is critical to prevent complications associated with severe jaundice. Jaundice meters enable early identification and help monitor the need for phototherapy treatment. In addition, technological advancements focused on improving accuracy and usability of jaundice meters is further supplementing their adoption in healthcare facilities. However, availability of alternative bilirubin measurement methods such as blood testing presents a challenge for market growth of jaundice meters.
Segment Analysis
The global jaundice meter market is segmented into bench-top meters and portable meters. The portable meter segment dominates the market and holds around 70% of the total market share due to rising preference for portable meters owing to their convenience, compact size and ease of use. Portable jaundice meters offer accurate and quick measurements of bilirubin levels in newborn babies and allow mobility within healthcare facilities.
PEST Analysis
Political: Regulations regarding universal newborn screening have boosted the adoption of jaundice meters.
Economic: Rising healthcare expenditures in developing nations have positively impacted market growth.
Social: Increasing awareness about jaundice screening among parents has fueled the demand for jaundice meters.
Technological: Continuous technological advancements leading to development of accurate and affordable jaundice meters have supported market expansion.
Key Takeaways
Global Jaundice Meter Market Size is expected to witness high growth, exhibiting CAGR of 3.3% over the forecast period, due to increasing focus on universal newborn screening programs. The market size for 2023 is estimated to be US$ 93.09 Mn.
Regional analysis – Asia Pacific accounts for the largest share in the global market and is expected to grow at the fastest rate during the forecast period due to large population, increasing healthcare investments and rapid improvement of healthcare infrastructure in emerging countries.
Key players operating in the jaundice meter market are Aegis Medicals, Refine Medical Technology, Delta Medical International, Micro Lab, M&B, Dräger, Xuzhou Kejian Hi-tech and Natus Medical. Key players are focusing on developing advanced jaundice screening devices integrated with wireless connectivity to overcome limitations of conventional products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
