The global widefield imaging systems market is expected to grow rapidly during the forecast period, according to a recent study by Future Market Insights (FMI). The market is expected to grow from $556.9 million in 2021 to more than $1.3 billion by 2031. Over the forecast period, it is expected to grow at a CAGR of around 8.6%. (2021 to 2031).
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During the forecast period, the global widefield imaging systems market is expected to grow due to an increase in diabetic retinopathy cases. Imaging of the peripheral retina, which is the primary site of various ocular diseases, is included in widefield retinal imaging.
Widefield imaging can help with the diagnosis of peripheral retinal diseases. Teenagers are becoming more prone to eye diseases such as vision impairment. The increased use of mobile phones and computers causes digital eye strain, which is primarily responsible for visual impairment in teenagers.
According to the Centers for Disease Control and Prevention, approximately 6.8% of children under the age of 18 in the United States will have vision and eye conditions by 2020.
Some of the factors encouraging the adoption of these instruments include increased technological awareness and a strong focus on healthcare innovations. Furthermore, as part of their product strategies, certain companies are launching technologically advanced equipment in order to consolidate a larger market share.
Government funding for the expansion of healthcare infrastructure will help developing countries grow. Furthermore, corporate contracts based on a rent-to-own model are a viable option in emerging economies such as India and Brazil, potentially creating significant opportunities for manufacturers of widefield imaging systems.
Key Takeaways From Widefield Imaging Systems Market Study
- In 2021, widefield imaging instruments will account for 80% of global market sales.
- Diabetic retinopathy is the fastest growing indication, accounting for nearly one-third of the market.
- Standalone modality will continue to be highly preferred, accounting for 56.4% of total market sales in 2021.
- In 2020, hospital demand accounted for 40.2% of widefield imaging system sales.
- North America will continue to dominate the global widefield imaging systems market, with a CAGR of nearly 8.6% between 2021 and 2031.
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Who Is Winning?
The key market players covered by FMI include Heidelberg Engineering GmbH, Visunex Medical Systems, Inc., Carl Zeiss Meditec AG, Clarity Medical Systems, Inc. Optos plc, and Centervue SpA.
The leading manufacturers of widefield imaging systems are focusing on new product development and launch of advanced versions of existing devices. Their aim is primarily to expand their portfolio to gain competitive edge. For instance:
- In March 2020, Heidelberg Engineering announced the reintroduction of its HRT3 Rostock Cornea Module (RCM) to offer in vivo corneal confocal microscopy in its anterior segment product portfolio, supporting cornea specialists worldwide to further improve patient care.
- In August 2020, ZEISS announces new software for the IOLMaster® 700, with enhanced features and connectivity designed to improve the cataract surgeons’ workflow efficiency and support better outcomes for surgeons and patients.
Widefield Imaging Systems Market By Category
By Component:
- Instrument
- Software
- Image Viewing Software
- Data Analysis and Interpretation Software
By Indication:
- Diabetic Retinopathy
- Retinopathy of Prematurity
- Pediatric Retinal Diseases
- Retinal Vein Occlusion
- Ocular Oncology
- Uveitis
- Chorioretinal Disease
- Glaucoma
- Others
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By Modality:
- Standalone
- Portable
By End User:
- Specialty Clinics
- Hospitals
- Ambulatory Surgical Centers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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