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Latin America Neonatal Phototherapy Equipment Market Research Report - Segmented By Product, End User & Country (Mexico, Brazil, Argentina, Chile & Rest of Latin America) - Industry Analysis, Size, Share, Growth, Trends, & Forecasts (2023 to 2028)

Published: March, 2023
ID: 6528
Pages: 145
Formats: report pdf report excel report power bi report ppt

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

As per the research report, the Latin American Neonatal Phototherapy Equipment market size is valued at USD 62.61 million in 2023 and is estimated to grow at a CAGR of 5.1% to reach USD 80.29 million by 2028 during the forecast period 2023 to 2028.

The market for Neonatal phototherapy equipment in Latin America has grown steadily and continues to develop at a favorable rate. The industry has grown considerably as neonatal jaundice has increased around the world. Increased government plans, policies, and initiatives to lower these figures and construct modern healthcare infrastructure in several regional markets have also encouraged the use of technologically advanced newborn phototherapy equipment. Latin America is a separate continent from the rest of the world.

One of the essential aspects is phototherapy, which uses light to cure various skin conditions such as psoriasis and vitiligo. The skin is exposed to an extraordinary form of light emitted by medical equipment during the treatment.

Improvements in healthcare infrastructure, the rapid development of low-cost phototherapy equipment, and the widespread use of home phototherapy to treat skin disorders contribute to the widespread adoption of home phototherapy. Furthermore, continuous technological breakthroughs in these areas will propel the industry forward.

The rise in the use of alternative modes of treatment and the strict FDA regulatory policies for the approval of new devices are expected to slow the growth of the phototherapy equipment market. In contrast, the limited adoption of phototherapy equipment in developing countries is a significant restraint.

This research report on the Latin America 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:

  • Mexico
  • Brazil
  • Argentina
  • Chile
  • Rest of Latin America

Geographically, Latin America holds a moderate share in the global market in the Neonatal phototherapy equipment market, owing to raising public awareness of the benefits of new technologies, which would provide a lucrative market. In addition, various variables, such as the increased incidence of neonatal jaundice and skin illnesses, are credited with the region's dominance. Aside from that, the area has a sophisticated healthcare infrastructure. These factors, combined with several government efforts aimed at improving the health of newborns, have tipped the scales in favor of the phototherapy equipment industry in Latin America.

Due to the rise in acne-related disorders, the growth in the Latin American region has risen. Furthermore, a high percentage of highly advanced skincare treatment equipment is used in this region.

The Mexico Neonatal Phototherapy Equipment Market is predicted to rise rapidly due to the increased prevalence of skin illnesses such as acne. As a result, the region's phototherapy market is expected to develop at a lucrative rate throughout the forecast period.

The Brazil Neonatal Phototherapy Equipment Market is expected to grow at the fastest rate during the projection period due to increased awareness of advanced phototherapy and the developing healthcare infrastructure in the region.

Furthermore, an increase in the frequency of newborn jaundice and demand for cost-effective equipment is expected to enhance phototherapy use in this region. In addition, governments in the Latin American region are increasingly concentrating on boosting knowledge about skin diseases and treatment options, which is projected to fuel regional market expansion.

KEY MARKET PLAYERS

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

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