by Jaundice meters are medical devices used to measure the level of bilirubin in blood and thus detect jaundice prevalent in newborn babies. The devices offer non-invasive and painless screening of neonatal jaundice through transcutaneous bilirubinometry. With growing awareness about neonatal jaundice and availability of efficient screening methods, the adoption of jaundice meters is rising globally.
The global Jaundice Meter Market is estimated to be valued at US$ 93.09 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends propelling the growth of the jaundice meter market is rising neonatal jaundice screening. As per the WHO, more than 60% of newborns develop jaundice worldwide and untreated severe hyperbilirubinemia can lead to bilirubin encephalopathy or kernicterus. Hence, in recent years governments across countries have mandated universal screening of all newborns for jaundice before discharge from hospitals. This is increasing demand for efficient screening devices like jaundice meters, thereby driving the market growth. With growing awareness, screening is expected to increase further in developing regions as well.
SWOT Analysis
Strength: Jaundice Meters are small, portable devices making them easy to carry around newborn infants and measure bilirubin levels on the go. They provide prompt, non-invasive results helping detect jaundice at an early stage.
Weakness: Some Jaundice Meters have accuracy issues and may not be as reliable as laboratory testing. They also require frequent calibration and regular replacement of consumables increasing costs of usage.
Opportunity: Rising preterm births and newborn jaundice cases globally is driving the need for frequent monitoring. Growing awareness about early jaundice detection can boost adoption of home-use Jaundice Meters for newborn care.
Threats: Stiff competition among existing players may lead to pricing pressures. Alternate technologies like blood test kits for bilirubin level measurement can threaten sales potential over time.
Key Takeaways
Global Jaundice Meter Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Jaundice Meter Market is estimated to be valued at US$ 93.09 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the market led by widespread newborn jaundice occurrences in countries like India and China. Rapid economic development and growing medical infrastructure in the region will further aid market expansion.
Key players operating in the Jaundice Meter market include Aegis Medicals, Refine Medical Technology, Delta Medical International, Micro Lab, M&B, Dräger, Xuzhou Kejian Hi-tech, and Natus Medical. These companies are focused on developing innovative, portable Jaundice Meters with enhanced accuracy and reliability. Partnerships with hospitals and clinics are helping them increase product visibility and sales volumes
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
