Jaundice meters are medical devices used to measure the level of bilirubin in the blood stream, especially among newborns and infants. Jaundice or hyperbilirubinemia occurs due to high bilirubin levels which causes yellowish coloration of the skin and eyes. Jaundice meters help detect jaundice at an early stage to prevent potential health complications. Advantages of using jaundice meters include non-invasive and painless measurement of bilirubin levels along with quick and accurate results. The global Jaundice Meter Market is estimated to be valued at US$ 107.24 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity

Growing prevalance of jaundice among newborns and infants presents a major market opportunity. According to WHO, over 60% of newborns develop jaundice requiring treatment. Early detection of jaundice is crucial to prevent conditions like brain damage and developmental delays. With rising birth rates worldwide and growing awareness about benefits of screening for jaundice, demand for easy-to-use and affordable jaundice meters is expected to increase significantly over the forecast period.

Porter's Analysis

Threat of new entrants: Low capital requirements and established distribution channels create a low threat of new entrants. However, the market is dominated by few major players making it difficult for new players to establish themselves.

Bargaining power of buyers: Buyers have moderate bargaining power. The availability of substitutes limits buyers bargaining power but established brands and need for post-sale services increases it.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power given the differentiated nature of inputs and capabilities required. Established suppliers have more power compared to new players.

Threat of new substitutes: Threat of substitutes is low as new technologies provide limited threat. However, alternative low-cost methods pose a threat.

Competitive rivalry: The Global Jaundice Meter Market Size is growing but concentrated with top players holding majority share. Price competition and investment in innovations are high to gain market share.

SWOT Analysis

Strengths: Established brands, technological superiority, strong distribution network
Weaknesses: High R&D costs, pricing pressure from low-cost alternatives, reliance on few major markets
Opportunities: Growth in emerging markets, rising healthcare spending, new applications and technology
Threats: Regulatory hurdles, reimbursement challenges, intellectual property risks

Key Takeaways

The global jaundice meter market is expected to witness high growth due to rising neonatal population, growing awareness about infant health, and increasing cases of neonatal jaundice.

Regional analysis: North America dominates the jaundice meter market currently owing to developed healthcare infrastructure, favorable reimbursement policies, and technological advancements. However, Asia Pacific is expected to grow at the fastest pace due to rising healthcare expenditures, increasing birth rates, and improving access to advanced diagnostic technologies in major countries like China and India.

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