by The global jaundice meter market is primarily driven by the rising prevalence of neonatal jaundice. Jaundice meters help detect jaundice non-invasively and painlessly in newborns using phototherapy technology. These devices measure the level of bilirubin, a yellow pigment formed due to breakdown of red blood cells, in the skin and aid in determining the necessity and intensity of light therapy.
The global jaundice meter market is estimated to be valued at US$ 107.24 Mn in 2024 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2030.
Key Takeaways
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, Natus Medical. The rising cases of preterm and low birth weight babies are expected to create lucrative opportunities for jaundice meter manufacturers. Moreover, technological advancements such as portable jaundice meters integrated with mobile connectivity and therapeutic LED lights are gaining traction.
Market Drivers
The key drivers influencing the growth of The Jaundice Meter Market include the rising prevalence of neonatal jaundice globally, increasing awareness about neonatal jaundice complications if left untreated, and growing focus on expanding neonatal care facilities particularly in developing nations. It is estimated that over 60% of newborns are affected by jaundice worldwide. Undetected and severe cases can lead to conditions like kernicterus affecting the brain development. This has augmented the adoption of jaundice detection devices across hospitals and clinics.
Current challenges in Jaundice meter market
The jaundice meter market faces various challenges currently. One of the major challenges is lack of awareness about jaundice and its severity especially in developing regions. This leads to delayed diagnosis and treatment. Another challenge is high cost of advanced jaundice meters which restricts their adoption in such regions. Inaccurate results from basic and low-cost jaundice meters also pose a challenge. They often provide inconsistent and unreliable readings hampering effective monitoring of jaundice levels in newborns. Stringent regulatory norms for new product launches also increase the burden on manufacturers.
SWOT Analysis
Strength: Emergence of advanced jaundice meters with features like multiple wavelength measurement, data connectivity and portability.
Weakness: High cost of advanced devices limiting widespread adoption.
Opportunity: Growing health awareness and focus on newborn care in developing countries. Rising investment in child healthcare infrastructure.
Threats: Stiff competition among existing players. Threat from substitute technologies like blood testing for bilirubin levels.
Geographically, North America currently holds the largest share in the global jaundice meter market in terms of value. This is attributed to factors such as rising healthcare expenditure, technologically advanced healthcare systems and high adoption of innovative medical devices. Asia Pacific is expected to be the fastest growing regional market during the forecast period. This is owing to large patient population, increasing investments in healthcare sector and improving economic conditions in major countries like China and India.
In terms of value, the jaundice meter market is concentrated in developed regions of North America and Europe currently. However, Asia Pacific region is emerging as a lucrative market projected to witness highest growth during the forecast period. China, India and other Southeast Asian countries are expected to drive the growth of jaundice meter market in Asia Pacific due to rising focus on child and maternal healthcare. Factors like increasing healthcare access, expanding middle class population and growing domestic manufacturing are fueling the market expansion in the region.
