Global Neonatal Phototherapy Devices market will reach 260 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/13

Increasing occurrences of neonatal jaundice in the newborn babies are one of the primary factors that is boosting the demand for neonatal phototherapy devices. Rising advancements and technological innovations in the field of neonatal phototherapy are expected to drive the market growth in the near future. Growing government initiatives to improve healthcare for newborn babies is likely to fuel the demand as well. One of the latest trends such as the companies are focusing on the devices that can be mounted on an incubator to avoid ultraviolet and infrared radiation, which, in turn, is projected to provide lucrative growth opportunities for the market in the coming years. 

However, the high cost of treatment and the lack of availability of the neonatal phototherapy devices will hamper the growth of the market over the forecast years.

The global neonatal phototherapy devices market is likely to reach US$260 mn by the end of 2025 from US$200 mn in the year 2018. The market is expected to register CAGR of 3.9% throughout the forecast period.

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