The Global Newborn Eye Imaging Systems Industry is poised for an exceptional journey, projecting a substantial market valuation exceeding US$ 374.3 million by the year 2032. This signifies a notable surge from its 2022 valuation of US$ 202.7 million, reflecting a robust Compound Annual Growth Rate (CAGR) of 5.7% throughout the forecast period.
The human eye, often hailed as the most intricate sensory organ, operates like a high-resolution camera, intricately capturing images with precision. The elaborate process involves light focusing on the cornea, the eye’s lens, while the iris regulates light intensity. Subsequently, light falls on the retina, initiating the intricate image formation process. Signals generated by the retina are then transmitted through the optic nerve to the brain, influencing the sense of sight.
In this context, the pivotal role of eye imaging systems emerges as a crucial diagnostic tool for identifying and treating various ocular issues. Given the prevalence of eye disorders, particularly among newborns, where Retinopathy of Prematurity (ROP) stands out as a leading cause of vision impairment, the necessity for advanced and precise imaging systems becomes paramount. ROP not only impacts vision but also affects blood vessels, spreading through the retina.
Global New Born Eye Imaging Systems Industry: Drivers and Restraints
Newborn eye imaging is an emerging market, as many players are coming up with innovative devices for imaging and raising funds for research on newborn eye imaging systems, for instance, in May 2017, Visunex Medical Systems, Inc., raised funds US$ 20 Mn for the research and development and manufacturing of newborn eye imaging system. Players are actively participating in the development of imaging systems.
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The ratio of affected babies also fuels the market to come up with more advanced products in the market, for instance, according to WebMD, LLC., 16,000 out of 28,000 born babies are affected by ROP (retinopathy of prematurity) as the babies will be born less than 31 weeks and the weight will be more than 2 pounds in the U.S, The awareness is the hindrance for the product.
Global New Born Eye Imaging Systems Industry: Overview
Newborn eye imaging systems is a growing market over the forecast period, as many products are coming into the market after getting approval from respective organizations, all the products are in high demand for imaging, for instance, in March 2012, Russia’s third president has approved the purchase of newborn eye imaging system from Clarity Medical Systems, Inc., and launched RetCam digital imaging program in Russian Federation for the treatment of prematurely born infants at risk for eye diseases like ROP (retinopathy of prematurity).
New Born Eye Imaging Systems Industry: Region-wise Outlook
Geographically, the New Born Eye Imaging Systems Market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, the Middle East, and Africa.
North America is the leading market as major players are placed inside and the population is affected by new eye problems, for instance, according to the Centers for Disease Control and Prevention in October 2016, one in every 33 babies was affected by eye-borne diseases. Europe is also a potential market as governments are directly involved in the treatment of eye diseases. Asia Pacific is a growing market as the awareness is very low in the market about this system.
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Global New Born Eye Imaging Systems Industry: Key Players
Some players in the New Born Eye Imaging Systems Market include Visunex Medical Systems, Inc., Eye Photo Systems, Merge Healthcare Incorporated, D-EYE S.r.l., Imagine Eyes, Natus Medical Incorporated, and Servicom Medical (Singapore) Pte Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology, and applications.
The report covers an exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition and companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, and the Rest of Latin America)
- Western Europe (Germany, Italy, France, UK, Spain, Nordic countries, Belgium, Netherlands, Luxembourg, and the Rest of Western Europe)
- Eastern Europe (Poland, Russia and Rest of Eastern Europe)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, and Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global New Born Eye Imaging Systems Industry: Segmentation
Based on disease type
- Retinopathy of prematurity
- Ocular development
- Refractive state
- Strabismus
- Visual functions
- Visual acuity
- Visual fields
- Color vision
Based on Device Type
- Basic Device
- Wireless Device
Based on End User
- Hospital
- Ophthalmology Diagnosis Centre
- Ambulatory Surgical Centre
- Others
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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