Neonatal Phototherapy Devices Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Flexible Phototherapy Lamps, Traditional Phototherapy Lamps, Phototherapy Beds), By End-User (Hospitals, Home Care Settings), and Region Forecast 2019-2030  

Neonatal Phototherapy Devices Market size was valued at US$ 512 million in 2023 and is poised to grow at a CAGR of 4.2% from 2024-2030. The market growth is driven by technological advancements in phototherapy devices. Most of the non-profit organizations and market players are collaborating to develop cost-effective neonatal therapy devices that can treat neonatal jaundice at minimal cost. Every year, roughly 25-40% of newborn babies are diagnosed with jaundice, according to the Scholar's Journal of Medical Sciences. In comparison to fluorescent lamps, D-Rev has invented LEDs for the treatment of jaundice. These LEDs consume the least amount of energy and last for a long time.

Moreover, government initiatives in various countries to provide better treatment for newborn babies and children, high frequency of neonatal jaundice, and an increase in awareness about the treatment are anticipated to propel the market. Furthermore, the launching of newer products is anticipated to bolster the market revenue. Neonatal phototherapy devices are the medical devices used in the treatment of neonatal jaundice. Neonatal jaundice occurs in the majority of newborn babies and if untreated, it may cause severe hyperbilirubinemia that leads to neurological damage or death. Traditional phototherapy devices are commonly used in phototherapy due to their relative affordability. These devices have improved lifespans and are easily connected to the incubator.

Key Developments:

• In January 2015, Phoenix Medical Systems launched Brilliance Pro, a neonatal phototherapy device with special features such as smart-tilt to provide constant intensity across the baby's skin.