Bilirubin Meters Market Demand Forecast Analysis by Emerging Growth Factors and Revenue

Bilirubin Meters Market: Introduction

According to the report, the global bilirubin meters market was valued at ~US$ 250 Mn in 2019 and is projected to reach ~US$ 500 Mn by 2030, expanding at a CAGR of ~7% from 2020 to 2030. Transcutaneous (hand-held) bilirubin meters are non-invasive, usually small, portable, handheld, and easy to use. Transcutaneous devices work by directing light to the patient’s skin and measuring the intensity of specific wavelength. Benchtop analyzers use spectro-photometric methods to determine total serum bilirubin (TSB) by analyzing plasma or serum sample by drawing blood from the patient. This method requires longer time and is used as a confirmation method to determine exact levels of serum bilirubin.

Technological Advancements to Drive Global Market

According to IEEE GlobalSpec, a device was developed by Rice University and qualified the usage for testing bilirubin levels in neonates. The device, named BiliSpec RICE 360, is a handheld battery powered device. A clinical trial conducted in Malawi demonstrated that the BiliSpec tool delivers accuracy comparable to the more expensive laboratory tests found in high-resource settings. The device needs two drops of blood to measure the level of bilirubin, which is obtained from the heels of the baby, and placed on an inexpensive disposable lateral flow strip. The reader then displays a digital report of the bilirubin concentration by measuring the light transmitted through the serum on the detection strip.

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Transcutaneous bilirubin measurement using multiple wavelength analysis estimates the serum bilirubin levels independent of postnatal age, skin pigmentation, and weight of the infant. Similar to TSB Total Serum Bilirubin, TcB Transcutaneous Bilirubin can also be used as the screening tool for measurement of bilirubin levels in infants who are at high risk of hyperbilirubinemia, by plotting the graph on an hour specific nomogram.

Transcutaneous (Hand-Held) Devices to Gain Significant Market Share

In terms of product, the global bilirubin meters market has been bifurcated into transcutaneous (hand-held) devices and bench-top analyzers. The transcutaneous (hand-held) devices segment has been further sub-segmented into two-wave length devices and multiple wavelength devices. The transcutaneous (hand-held) devices segment is projected to gain market share during the forecast period. Transcutaneous (hand-held) devices are gaining popularity as a substitute for total serum bilirubin analyzers, as they are accurate, non-invasive, and a valid method to screen patients, especially newborns for signs of jaundice without the need for a needle prick. This method also helps save a significant amount of time and money, and provides results instantaneously to determine if the patient requires a blood test.

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Neonates Age Group to be Highly Lucrative

Based on age group, the global bilirubin meters market has been classified into neonates and adults. The neonates segment is likely to remain dominant and gain market share during the forecast period. Usually all newborns (neonates) delivered in the hospital would have total serum bilirubin (TSB) measured in the clinical laboratory on one or more blood samples as requested by attending pediatricians. New recommendations and regulations have made it mandatory to screen every newborn for bilirubin levels; consequently, the neonates segment is expected to remain dominant during the forecast period.

North America to Dominate Global Market

In terms of region, the global bilirubin meters market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global bilirubin meters market in 2019, followed by Europe. High prevalence and increase in incidence rates of liver diseases, including hepatitis, which incurs high healthcare spending, drives the market in the region. Established industrial infrastructure and increase in development of products for early diagnosis are other factors that are likely to propel the bilirubin meters market in North America during the forecast period.

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Competition Landscape

Major players operating in the global bilirubin meters market are F. Hoffmann-La Roche Ltd., Koninklijke Philips N.V., Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Siemens Healthineers AG, Drägerwerk AG & Co. KGaA, Zhengzhou Dison Instrument And Meter Co., Ltd., Mennen Medical Ltd., Natus Medical Incorporated, Ningbo David Medical Device Co., Ltd, Micro Lab Instruments, APEL Co., Ltd., and Avihealthcare.

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This release was published on openPR.