APAC Neonatal Phototherapy Equipment Market

APAC Neonatal Care Equipment Market Size & Growth (2023 to 2028):

According to the report, the Size of the Asia Pacific Neonatal Care Equipment Market was valued at USD 104.84 Million in 2023 and is projected to reach USD 137.67 Million by the end of 2028, registering at a CAGR of 5.6% during the forecast period 2023 to 2028.

Factors supporting the neonatal phototherapy equipment market to grow in various parts of the region include the increasing usage of technologically advanced medical equipment and rising healthcare expenditure. In addition, government initiatives to improve health care for newborns and children are expected to contribute to the market's growth.

Furthermore, the increasing demand for effective neonatal jaundice treatment would increase neonatal phototherapy devices. The increase in the frequency of newborn jaundice is one of the major factors likely to fuel the growth and demand for phototherapy equipment. Furthermore, throughout the forecast period, an increase in the number of preterm and low-weight newborns and the incidence of skin diseases are likely to contribute to the Asia Pacific market's growth. In addition, the introduction of technologically advanced phototherapy equipment and the widespread acceptance of LED-based phototherapy equipment is likely to boost the development of the market.

The strict regulatory standards linked with product approvals are issues posing a barrier. The time it takes to accept a loan is a restriction that affects its growth. In addition, the lack of neonatal phototherapy devices, particularly in rural areas, may hinder the market's growth. Furthermore, a scarcity of qualified specialists is a challenge. A rise in the use of alternative modes of treatment and the strict FDA regulatory policies for the approval of new devices are predicted to restrain the growth of the phototherapy equipment market. In contrast, the limited adoption of phototherapy equipment may pose a challenge.

This research report on the APAC Neonatal Care 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: 

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Geographically, the Japan Neonatal Care Equipment Market is the leading and most lucrative market for newborn phototherapy equipment to grow at healthy rates in the next few years.

The India's Neonatal Care Equipment Market will reach a decent CAGR due to the rising birth rate and healthcare infrastructure developments. As a result, the APAC will emerge as a profitable market for neonatal phototherapy equipment.

The China's Neonatal Care Equipment Market is expected to grow at the fastest rate due to numerous contributory reasons such as greater awareness of the importance of fetal care, increased government initiatives, and an increased number of preterm births. A fast-growing population and more awareness about maternal care are expected to fuel the Indian market, which will grow significantly. Due to the rapid technological development in the region, several market companies in Australia are increasingly launching new inventive equipment on the market.

Increased government plans, laws, and initiatives targeted at reducing these numbers and creating modern healthcare infrastructure in several regional markets have also encouraged the usage of technologically enhanced newborn phototherapy devices. In addition, the need for neonatal phototherapy equipment has grown due to increased government intervention and rising disposable incomes in this region.

KEY MARKET PLAYERS

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