Bilirubin Meters Market To Reach $2.5 Billion, Globally, By 2033 At 7.6% CAGR: Allied Market Research

(MENAFN- GlobeNewsWire - Nasdaq) Wilmington, Delaware, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, " Bilirubin Meters Market by Product (Bench-Top and Transcutaneous), Indication (Jaundice and Hepatitis), Age Group (Neonatal and Adults), and End User (Hospitals and Nursing Home, Clinics and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033" . According to the report, the bilirubin meters market was valued at $1.2 billion in 2023, and is estimated to reach $2.5 billion by 2033, growing at a CAGR of 7.6% from 2024 to 2033.

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Prime Determinants of Growth

The market for bilirubin meters is primarily driven by the increasing prevalence of neonatal jaundice and the rising awareness about early diagnosis and treatment of hyperbilirubinemia. Neonatal jaundice is a common condition among newborns, characterized by high levels of bilirubin in the blood, leading to yellowing of the skin and eyes. Early detection and management are crucial to prevent severe complications such as kernicterus, which can cause irreversible neurological damage. Thus, the rise in prevalence of neonatal jaundice is expected to contribute significantly in the growth of the market.

Technological advancements in bilirubin meters are also contributing significantly to market growth. Modern bilirubin meters are equipped with features such as portability, ease of use, and high accuracy, making them preferable over traditional laboratory methods. These devices often utilize transcutaneous measurement techniques, reducing the need for blood samples and minimizing discomfort for newborns. The integration of digital technologies and data management systems further enhances their utility in clinical settings, allowing for better patient monitoring and record-keeping. Thus, the technological advancement in the bilirubin meters is expected to drive the growth of the market.

Report Coverage & Details

Repot Coverage	Details
Forecast Period	2024–2033
Base Year	2023
Market Size in 2023	$1.2 billion
Market Size in 2033	$2.5 billion
CAGR	7.6%
No. of Pages in Report	280
Segments Covered	Product, Indication, Age Group, End User and Region
Drivers	Surge in prevalence of neonatal jaundice Increase in adoption of portable and noninvasive diagnostic devices. Rise in awareness about early diagnosis
Opportunities	Technological advancement in bilirubin meters
Restraint	High product cost

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Segment Highlights

The transcutaneous segment dominated market share in 2023

By product, transcutaneous segment dominated the market share in 2023. This is attributed to the fact that transcutaneous bilirubin meters offer a non-invasive method for measuring bilirubin levels, which is particularly advantageous in neonatal care. This non-invasive approach reduces the risk of infection and discomfort associated with blood draws, making it a preferred choice for both healthcare providers and parents. Additionally, advancements in technology have improved the accuracy and reliability of transcutaneous bilirubin meters, making them comparable to traditional blood tests.

Jaundice segment dominated the market share in 2023

By indication, jaundice segment dominated the market share in 2023. This is attributed to jaundice, which is a common condition, especially in newborns, where bilirubin levels in the blood are elevated, leading to yellowing of the skin and eyes. The high prevalence of neonatal jaundice, which affects approximately 60% of full-term and 80% of preterm infants, necessitates frequent monitoring and accurate diagnosis. Bilirubin meters provide a non-invasive, efficient, and reliable method for this purpose, making them essential tools in neonatal care.

Neonatal segment dominated market share in 2023

By age group, neonatal segment dominated the market share in 2023. This is attributed to the fact that Newborns, particularly those born prematurely, are highly susceptible to jaundice, a condition characterized by high levels of bilirubin in the blood. Jaundice in neonates is a common and significant clinical concern that requires prompt and accurate diagnosis to prevent severe complications such as kernicterus, which can lead to permanent neurological damage. Consequently, there is a high demand for reliable and non-invasive bilirubin meters to monitor bilirubin levels in neonates.

Hospitals and Nursing Home segment dominated market share in 2023

By end user, hospitals and nursing home segment dominated the market share in 2023. This is attributed to the fact that healthcare facilities routinely handle a significant number of neonatal patients, who are particularly susceptible to jaundice and other bilirubin-related conditions. The need for immediate and precise bilirubin level measurements in newborns drives the adoption of bilirubin meters, ensuring timely and appropriate treatment. Furthermore, the rise in the global birth rate, coupled with increased awareness of neonatal care, has intensified the demand for bilirubin meters in hospitals and nursing homes. These facilities also benefit from advanced healthcare infrastructure, which facilitates the integration of modern diagnostic technologies, including bilirubin meters. Additionally, the ongoing trend towards point-of-care testing in clinical settings has further propelled the use of portable and non-invasive bilirubin meters, enhancing the overall market growth within the hospital and nursing home subsegment.

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Regional Outlook

North America holds a dominant position in the market, attributed to high adoption of the Bilirubin Meters, advanced healthcare infrastructure, supportive regulatory frameworks, and increasing prevalence of jaundice. In addition, the strong presence of major key players and high research and development activities in the region for development of advanced bilirubin meters is expected to contribute in the growth of the market. However, Asia-Pacific region is expected to register highest CAGR in the forecast period. This is attributed to technological advancements, high birth rate and developing healthcare infrastructure.

Key Players

• APEL Co. Ltd.

• Dragerwerk AG & Co. KGaA

• Mennen Medical Ltd.

• Micro Lab Instruments

• Ningbo David Medical Device Co. Ltd

• Siemens Healthineers AG

• Micro Labs Instruments

• AVI Healthcare Pvt Ltd

• F. Hoffmann-La Roche Ltd.

• Koninklijke Philips N.V

The report provides a detailed analysis of these key players in the global bilirubin meters market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario

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