Jaundice meter, also known as transcutaneous bilirubinometer or TcB meter, is a handheld medical instrument used for non-invasive measurement of bilirubin levels in newborn infants and adults. By using multiwavelength photo-optic technology, jaundice meters help detect elevated bilirubin levels beneath the skin surface, which provides an indicator of jaundice or hyperbilirubinemia. The growing prevalence of neonatal jaundice and rising cases of liver diseases have increased the demand for reliable and portable jaundice detection devices.
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 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
The key opportunity for the jaundice meter market lies in its ability to diagnose jaundice at an early stage, which allows for prompt treatment. Early detection of elevated bilirubin levels is important to prevent severe illnesses in newborns such as kernicterus, a type of brain damage caused by high bilirubin levels. Jaundice meters provide non-invasive and reliable bilirubin measurements within a few seconds, helping physicians monitor bilirubin levels closely and determine the need for treatment such as phototherapy. Their portability also enables testing anywhere, aiding in more widespread jaundice screening of newborns. The faster diagnosis and treatment of jaundice helped by jaundice meters is expected to drive their adoption across hospitals and clinics over the forecast period.
Porter's Analysis
Threat of new entrants: Low as it requires high R&D and manufacturing costs to enter this technology intensive market.
Bargaining power of buyers: Moderate as there are few established brands dominating the market.
Bargaining power of suppliers: Low due to availability of alternative component manufacturers.
Threat of new substitutes: Low as there are limited alternatives available for accurate jaundice detection.
Competitive rivalry: High among the existing global players to gain market share through new product launches and expansions.
SWOT Analysis
Strength: Established brands enjoy high branding and economies of scale. Growing neonatology market creates high demand.
Weakness: High capital requirement is a barrier for small players. Accuracy depends on correct usage of the devices.
Opportunity: Emerging markets in Asia Pacific and Latin America offers scope for penetration. Advancement in sensor technology will lead to portable variants.
Threats: Stringent regulations for new product approval. Supply chain disruptions due to pandemic.
Key Takeaways
Global Jaundice Meter Market Size is expected to witness high growth at a CAGR of 4.6% during the forecast period of 2023 to 2030. The market was valued at US$ 93.09 Mn in 2023 and is anticipated to reach US$ 126.72 Mn by 2030.
The Asia Pacific region dominated the market with over 35% share in 2023 owing to large patient pool and rising healthcare expenditure in countries like India and China. With growing neonatology facilities, the region is expected remain the fastest growing market during the forecast years.
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, and Natus Medical. The major players are focusing on new product launches with advanced features and expanding their global footprint through strategic mergers and acquisitions to gain an edge over competitors.
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