Infant Phototherapy Devices Market to Reach $132.1 Mn, Globally, by 2030

According to a new report, the global infant phototherapy devices industry generated $91.9 million in 2020, and is anticipated to generate $132.1 million by 2030, witnessing a CAGR of 3.7% from 2021 to 2030.

Rise in prevalence of neonatal jaundice and effectiveness of phototherapy over other treatment methods drive the growth of the global infant phototherapy devices market. However, side effects of phototherapy treatment hinder the market growth. On the other hand, huge market potential in developing countries presents new opportunities in the coming years.

The mobile device segment held the highest market share in 2020, accounting for more than three-fourths of the global infant phototherapy devices market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 3.9% from 2021 to 2030, owing to the fact that mobile device provides accurate estimates of Total Serum Bilirubin (TSB) values. The other segment included in the report is fixed device.