Global Bilirubin Meters Market - 2022-2029
Market Overview
The global bilirubin meters market size was valued US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).
The bilirubin meter is a device that measures the amount of bilirubin in a patient's blood. Bilirubin is a yellow chemical produced by the usual catabolic route in vertebrates that breaks down heme. This catabolism is essential in the body's waste removal process when old red blood cells are destroyed. The process continues as the heme is removed from the hemoglobin. Then, depending on the portion of the body where the breakdown occurs, it goes through various processes of porphyrin catabolism. The catabolic route begins with the synthesis of biliverdin from heme. The enzyme biliverdin reductase carries out the second step. Bilirubin is produced from biliverdin.
Market Dynamics
Technological advancement in Bilirubin Meters is expected to drive market growth.
In preterm and term neonates suffering from hyperbilirubinemia associated with risk factors and/or undergoing phototherapy, the newly developed non-invasive and non-contact bilirubin measurement device (AJO-Neo) as an alternative to the traditional invasive biochemical method of total serum bilirubin (TSB) estimation. The equipment was also accurate when it came to measuring bilirubin levels. The device showed impressive results with good agreement with TSB while monitoring the bilirubin level during phototherapy. The device's specificity and sensitivity demonstrated greater accuracy in neonates with associated hyperbilirubinemia risk factors. As a result, regardless of gestational or postnatal age, sex, risk factors, feeding behavior, or skin color, the newly designed gadget (AJO-Neo) is reliable in measuring bilirubin levels in preterm and term neonates. Thus, the market is expected to drive in the forecast period from the above statements.
Restraint:
The high cost of the devices and Complications in the measurements of the total serum bilirubin using bilirubin meters are factors the market is expected to hamper in the forecast period.
COVID-19 Impact Analysis
The COVID-19 pandemic has moderately impacted healthcare systems and the market. COVID-19 infection entails a hyperinflammatory response. Indirect bilirubin levels may be affected by increased inflammatory activity. Such intriguing associations are further investigated by examining changes in direct and indirect bilirubin levels in COVID-19 patients. Moreover, drug regimens can lead to fluctuations in bilirubin levels and lower visits to hospitals and clinics and postponed due to the economic downturn, which hampered the market growth.
Additionally, the pandemic interrupts the supply chain and process. Many companies will vary to other geographic regions to ensure that products remain available and protect their supply chain. Thus, from the above statements, the market got affected, and it is expected to gain traction quickly with the resumption of the economic activities.
Segment Analysis
Transcutaneous segment is expected to hold the largest market share in bilirubin meters market
The transcutaneous segment is expected to dominate in 2021. The segment benefits because these gadgets are non-invasive, accurate, cost-effective, and time-saving. Moreover, transcutaneous devices are used to screen jaundice in newborn babies without a needle prick, and they are becoming more popular as an alternative to serum bilirubin analyzers. For instance, BiliChek is utilized with skin pigmentation in jaundice, notwithstanding JM 103. TcB and total serum bilirubin (TSB) levels in African-American newborns differ. Color-coded scales were rarely used for comparison, and the codes varied greatly depending on ethnicity and race. The transcutaneous bilirubinometer index (TcBI) result is more trustworthy in babies with lighter skin than babies with darker skin. Thus, the market segment is expected to hold the largest market share in the forecast period from the above statements.
Geographical Analysis
North America region holds the largest market share in the global bilirubin meters market
In 2021, North America accounted for the highest revenue share. The increasing prevalence of liver diseases, the rising geriatric population, rising healthcare spending, well-established infrastructure, and technological advancement in the bilirubin meters are factors the market is expected to boost in the forecast period. For instance, it is estimated that about 1 in 400 adults in the United States has cirrhosis. Cirrhosis is more common in adults ages 45 to 54. About 1 in 200 adults’ ages 45 to 54 in the United States has cirrhosis.
Moreover, More than 80 million Americans have this deadly disease, and many don't even know it. Nonalcoholic fatty liver disease affects an estimated 80 million to 100 million Americans. Therefore, it has increased the demand for the bilirubin meters. Thus, the North American region is expected to hold the largest market share in the forecast period from the above statements.
Competitive Landscape
Major key players in the bilirubin meters market are Koninklijke Philips N.V., Siemens Healthineers AG, Dragerwerk AG Co. KGaA , Mennen Medical Ltd , Natus Medical Incorporated, Avi healthcare Pvt. Ltd., Ningbo David Medical Device Co. Ltd., Micro Lab Instruments, Zhengzhou Dison Instrument And Meter Co., Ltd, Delta Medical International Ltd
Koninklijke Philips N.V.:
Overview:
Koninklijke Philips N.V. is a Dutch multinational conglomerate corporation. Philips was formerly one of the largest electronics companies globally, currently focused on health technology, with other divisions being divested. Philips is organized into three main divisions: Personal Health (formerly Philips Consumer Electronics and Philips Domestic Appliances and Personal Care), Connected Care, and Diagnosis & Treatment (formerly Philips Medical Systems). It currently employs around 80,000 people across 100 countries.
Product Portfolio:
BiliChek System: The BiliChek noninvasive, transcutaneous bilirubinometer assesses the risk of hyperbilirubinemia (newborn baby jaundice) in newborns. Using light instead of a needle, it allows you to easily measure serum bilirubin levels.
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