According to a recent study by Future Market Insights (FMI), the global Widefield Imaging Systems Market demand is expected to register high growth during the forecast period. The market is expected to grow over US$ 1.3 Billion by 2031. It is expected register a CAGR of around 8.6% over the forecast period (2021 to 2031).
Significant rise in cases of diabetic retinopathy is expected to propel the growth of the global widefield imaging systems market during the forecast period. Widefield retinal imaging includes imaging of peripheral retina that is the main site of various ocular diseases.
Widefield imaging aids in diagnosis of peripheral retina diseases. Occurrence of eye diseases like vision impairment is rising among teenagers. Increasing usage of mobile phones and computers results into digital eye strain, and is mainly responsible for visual impairment among teenagers.
As per the Centers for Disease Control and Prevention, in 2020, approximately 6.8% of children below 18 years have been detected with vision and eye condition in the United States.
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Increasing technological awareness and high focus on healthcare innovations are some of the factors encouraging the adoption of these instruments. Additionally, certain companies, as a part of their product strategies, are launching technologically advanced equipment, to consolidate larger market share.
Government funding towards expansion of healthcare infrastructure will support growth in developing countries. Moreover, corporate contracts based on rent-to-own model is a feasible option in emerging economies such as India and Brazil which could create significant opportunities for manufacturers of widefield imaging systems to capitalize on.
Key Takeaways From Widefield Imaging Systems Market Study:
- The US is estimated to account for over 90.3% of the North America widefield imaging systems market in 2021.
- Diabetic retinopathy is the most rapidly growing segment by indication, accounting for nearly 1/3rd of the market share.
- Standalone type of modality will remain highly preferred, contributing 56.4% towards overall sales in the market in 2021.
- Demand in hospitals accounted for 40.2% of widefield imaging systems sales in 2021.
- North America will remain the dominant widefield imaging systems market globally, exhibiting 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.
- 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
By Modality:
- Standalone
- Portable
By End User:
- Specialty Clinics
- Hospitals
- Ambulatory Surgical Centers
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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