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 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Jaundice meter, also known as bilirubinometer, is a medical device used to measure the level of bilirubin in blood. It is a non-invasive tool used to detect jaundice in newborn babies. Jaundice occurs when there is an excess amount of bilirubin in the blood due to abnormalities in bilirubin metabolism. Jaundice meters measure the level of bilirubin in skin to detect jaundice without drawing blood. They are portable, painless and easy to use by parents and healthcare professionals for home monitoring of jaundice in infants. They provide accurate and rapid results and help in quick diagnosis and treatment of newborn jaundice.
Market key trends:
One of the key trends in the jaundice meter market is the growing adoption of transcutaneous jaundice meters. Transcutaneous jaundice meters are non-invasive devices that measure bilirubin levels through skin by using two different wavelengths of light. They are increasingly preferred over invasive blood tests as they are painless, easy-to-use and provide fast results. Manufacturers are focusing on developing advanced transcutaneous jaundice meters with improved accuracy and portability to increase their adoption in homes as well as hospitals. Rising awareness among consumers about newborn jaundice care and availability of affordable jaundice screening devices are also expected to drive the growth of the overall jaundice meter market during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as initial capital investment is required for R&D, production, marketing, distribution and after-sales service. However, the availability of low-cost raw materials and the prospects of growth offer incentives for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are several established brands in the market. However, the availability of substitutes keeps buyers’ power in check.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are many suppliers for raw materials.
Threat of new substitutes: The threat of new substitutes is moderate as alternative jaundice detection technologies like bilirubin meters pose a threat, although jaundice meters offer cost-effectiveness.
Competitive rivalry: High due to the presence of numerous global and regional players.
Key Takeaways
Global Jaundice Meter Market Size is expected to witness high growth, exhibiting CAGR of 3.3% over the forecast period, due to increasing neonate population and rising awareness regarding neonatal jaundice.
Regional analysis: North America dominates the global jaundice meter market owing to advanced healthcare infrastructure and rising awareness regarding neonatal health in the region. Asia Pacific is expected to exhibit the highest CAGR during the forecast period owing to increasing healthcare spending and growing neonate population in countries such as China and India.
Key players operating in the jaundice meter market are Aegis Medicals, Refine Medical Technology, Delta Medical International, Micro Lab, M&B, Dräger, Xuzhou Kejian Hi-tech, Natus Medical. Key players are focusing on new product launches and strategic collaborations with regional players to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
