New Born Eye Imaging Systems Market REPORT OVERVIEW
-
Request a Free Sample to learn more about this report
The global new born eye imaging systems market size was USD 2489.7 million in 2022 and is projected to touch USD 4206.3 million by 2031, at a CAGR of 6% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the new born eye imaging systems market experiencing lower than anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The majority of vision issues that result in adolescent blindness can be corrected if discovered early thanks to thorough neonatal screening. Retinopathy of prematurity (ROP), ocular development, strabismus, visual acuity, colour vision, visual functions, and visual fields are a few of the prevalent eye problems. An eye imaging device is necessary for the detection and treatment of these conditions. Significant improvements in technology and design have been made over time. The systems involve the specialised application of technologies to assist newborns and babies with eye-related issues such ROP, amblyopia, strabismus, and other illnesses with basic care, monitoring, and treatment. In the hospital, this newborn eye imaging equipment found several different eye disorders.The rising number of paediatric retinal procedures, the increasing prevalence of eye illnesses of various etiologies, and technological developments in product development are all projected to raise product demand and hence drive the expansion of the newborn eye imaging systems market.
COVID-19 Impact: Pandemic Caused Infectious Population led in the Shift of the Market Demand
Due to rigid lockdown measures and supply chain interruptions, the COVID-19 pandemic had a substantial impact on the new born eye imaging systems0 market. Furthermore, procurement teams from hospitals, ambulatory surgery centers, and other medical aid organisations were primarily focused on treating the global pandemic's impacted population.
Furthermore, because babies are at a higher risk of infection than other age groups worldwide, healthcare institutions have to adjust treatment and diagnostic techniques. As a result, during COVID-19's exponential phase, most diagnostic and elective treatments were postponed or cancelled.
LATEST TRENDS
"The Advancements Integrated with Artificial Intelligence and Deep Learning to Uplift the Market Demand"
Emerging imaging technologies, like as artificial intelligence (AI) and deep learning, have the ability to screen huge populations, including infants, for retinal abnormalities in a resource-constrained context. Clinical investigations have shown that AI is successful at detecting the presence of several vision-threatening illnesses such as age-related macular degeneration, diabetic retinopathy, retinopathy of prematurity, and neurological disorders such as Alzheimer's.
Furthermore, due to specialised adaptors, cellphones are largely employed as fundus cameras. It is the most affordable method of imaging a retina. The smartphone-based retinal camera has shown results comparable to those of a desktop fundus camera in multiple investigations. The majority of smartphone-based retinal cameras have a field of vision ranging from 30 to 45 degrees. For example, the Volk iNview is an ophthalmic camera that captures wide-angle digital colour photographs of the retina using an Apple iPhone or iPod. (fundus). Volk iNview is a hybrid product that combines an Apple App Store mobile app and an indirect ophthalmoscopic lens attachment.
New Born Eye Imaging Systems Market SEGMENTATION
-
Request a Free Sample to learn more about this report
- By Type
Based on type, the new born eye imaging systems market is classified into basic device, wireless device and other.
The basic device is the leading part of the type segment.
- By Application
Based on application, the new born eye imaging systems market is classified into hospital, ophthalmology diagnosis centre, ambulatory surgical centre and others.
The hospitals is the leading part of the application segment.
DRIVING FACTORS
"The Rising Healthcare Awareness and Expenditure will Boost the Market Growth"
Growing healthcare expenditure in many economies has a substantial impact on the market for new born eye imaging systems. The COVID-19 outbreak underlined the significance of the healthcare business and its interdependence with other economic sectors. Hospital expenditures grew exponentially in 2020, according to National Health Expenditure statistics, more than that of 2019. Furthermore, increased awareness and spending on newborn care and screening techniques to prevent a variety of illnesses is propelling the new born eye imaging systems market expansion. For example, the World Health Organization announced its first global guidelines to support women and newborns in the postnatal period on March 30, 2022..
"The Wireless Device to Grow at Pace and Strengthen the Market Structure "
Most wireless gadgets capture photos or videos of the interior of the eye. These gadgets have various advantages, such as the ability to be used anywhere and at any time. They are also useful for shooting difficult-to-reach places, such as the rear of the eye. Wireless devices provide various advantages over other types of devices, making them a crucial tool for operations such as visual acuity testing, glaucoma screening, and intraocular pressure measurement, among others.
RESTRAINING FACTORS
"Lack of Skilled and Experienced Staff to Setback the Market Growth"
There is a need for a more clinical and competent personnel in newborn eye imaging systems, as well as qualified ophthalmic photographers. As a result, new technologies must be developed so that healthcare providers with less training can use them. Most imaging needs big tabletop systems, but there is also a desire for portable imaging devices such as hand-held OCT and intra-operative OCT.
Furthermore, as imaging reimbursements have fallen, the amount of time retina professionals spend on each patient has decreased. Many clinicians now spend 5 to 10 minutes per appointment obtaining patient history, evaluating, analyzing, and interpreting imaging, responding to patient inquiries, informing, and treating the patient.
New Born Eye Imaging Systems Market REGIONAL INSIGHTS
-
Request a Free Sample to learn more about this report
"North American Region Gauge for the Huge Revenue Share with Well Established Healthcare Infrastructure"
North America dominated the new born eye imaging systems market share in 2020, accounting for more than a quarter of total sales. This domination is expected to throughout the entire projection period. The region's well-maintained and established healthcare system is credited with the growth. Furthermore, the presence of major market players in this region, as well as the rising number of new born population affected by eye issues, contribute to North America's new born eye imaging systems market growth.
KEY INDUSTRY PLAYERS
"Notable Players contributing towards the market"
Eye Photo Systems, D-EYE S.r.l., Natus Medical Incorporated, Servicom Medical Pte Ltd., Visunex Medical Systems, Inc., Merge Healthcare Incorporated, and Imagine Eyes are among the leading market players in the new born eye imaging systems market.Market participants in the new born eye imaging systems are developing sophisticated imaging devices and technologies while also raising money for research activities. The market participants are particularly interested in the development of imaging systems. All of these factors are propelling the industry forward.
List of Market Players Profiled
- Visunex Medical Systems (U.S.A)
- Eye Photo Systems (U.S.A)
- Merge Healthcare (U.S.A)
- D-EYE (Italy)
- Imagine Eyes (France)
- Natus Medical (U.S.A)
- Servicom Medical (Singapore)
- New Eyes Medical (China).
REPORT COVERAGE
The report is an analysis of all market aspects for the forecast period. It also shows the evaluation of opportunities, trends, market share, product innovations, technology innovations, driving factors, restraints and others that contribute towards the market growth. This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching of recent industry developments, deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 2489.7 Million in 2022 |
Market Size Value By |
US$ 4206.3 Million by 2031 |
Growth Rate |
CAGR of 6% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the global new born eye imaging systems market expected to touch by 2031?
The global new born eye imaging systems market is expected to touch USD 4206.3 million by 2031.
-
What CAGR is the new born eye imaging systems market expected to exhibit during 2031?
The new born eye imaging systems market is expected to exhibit a CAGR of 6% over 2031.
-
Which are the top companies operating in the new born eye imaging systems market?
Visunex Medical Systems, Eye Photo Systems, Merge Healthcare, D-EYE, Imagine Eyes, Natus Medical, Servicom Medical, New Eyes Medical and others are the top companies operating in the new born eye imaging systems market.
-
What is the leading region in the new born eye imaging systems market?
The North American region leads the new born eye imaging systems market
-
Which are the driving factors of the new born eye imaging systems market?
The advantages offered by wireless device growing at pace and the rising healthcare awareness and expenditure are the driving factors of the new born eye imaging systems market.