Europe Neonatal Phototherapy Equipment Market

Europe Neonatal Phototherapy Equipment Market Size & Growth (2023 to 2028):

As per the research report, the European Neonatal Phototherapy Equipment market size was valued at USD 129.56 million in 2023. It is expected to grow at a CAGR of 4.4% to reach USD 160.68 million by 2028 during the forecast period 2023 to 2028.

The rising incidence of preterm and low-weight deliveries, growing technical innovation in infant and maternal care products, and rising congenital and pregnancy issues due to a sedentary lifestyle are all factors driving the market's expansion. In addition, because preterm babies commonly require special care in the neonatal intensive care unit (NICU), demand for neonatal devices is likely to rise, which will act as a significant driving force. Furthermore, the prevalence of diseases and their consequences among newborns has increased.

The need for neonatal phototherapy equipment in the region has increased due to these causes. A pulse oximeter is used in measuring the oxygen saturation of the blood, with the sensor placed on the neonate's foot or hand. The need for these NICU monitoring systems is likely to grow in the future, as preterm births in European countries rise due to changing maternal lifestyles and the region's average pregnancy age increases.

In addition, the rising prevalence of neonatal jaundice is one of the significant causes driving up demand for neonatal phototherapy devices. Other factors supporting the neonatal phototherapy devices market to grow in various parts of the region include the increasing usage of technology and advanced medical equipment and rising healthcare expenditure.

One of the primary reasons restraining the European neonatal phototherapy equipment market is the rising cost of neonatal care. Furthermore, the strict regulatory standards linked with product approvals are issues posing a challenge. Moreover, the duration of a loan to be approved poses a hurdle and limits the market's expansion.

In addition, the lack of neonatal phototherapy devices, particularly in rural areas, may hamper the market's development. Furthermore, a scarcity of qualified specialists is a challenge. Finally, the market growth is limited by the adverse effects of phototherapy treatment.

This research report on the Europe Neonatal Phototherapy Equipment Market has been segmented and sub-segmented into the following categories:

By Type:

• Convectional Phototherapy Equipment
• LED Phototherapy Equipment
• Fiber optic Phototherapy Equipment

By End User:

• Hospital & Clinics
• Home Users

By Application:

• Skin disease treatment
• Neonatal Jaundice Management

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, the European market is the second largest share globally and is expected to rise due to newer government regulations in neonatal healthcare, a large patient pool, and quick healthcare innovations in this region from 2023 to 2028.

The German neonatal phototherapy equipment market is expected to grow fastest. Also, it has a significant effect on the market's overall growth over the period due to an increase in hospitals, an increase in the frequency of acquired infections in newborn infants, and a large patient population of preterm and low-weight babies.

The France neonatal phototherapy equipment market size is predicted to reach a decent CAGR during the forecast period.

KEY MARKET PLAYERS

Key players leading in the European Neonatal Phototherapy Equipment Market profiled in this report are GE Healthcare (U.S.), Natus Medical Incorporated (U.S.), Phoenix Medical Systems Pvt. Ltd. (India), and Solarc Systems Inc. (Canada), Herbert Waldmann GmbH & Co. KG (Germany), Atom Medical Corporation (Japan), Philips Lighting Holding B.V. (Netherlands), nice Neotech Medical Systems Pvt. Ltd. (India), National Biological Corp. (U.S.).,