by The newborn eye imaging systems market has witnessed substantial growth in recent years owing to the increasing demand for non-invasive retinal imaging systems among neonatologists. Newborn eye imaging systems offer several advantages over binocular indirect ophthalmoscopy, including HD imagery with no need for pupillary dilation, wide field of view, digital archiving of retinal images for future reference and comparison. Such innovative imaging systems are increasingly being adopted by neonatal intensive care units (NICUs) for screening retinopathy of prematurity (ROP) among premature infants.
The global newborn eye imaging systems market is estimated to be valued at US$ 379.2 million in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period from 2024 to 2031.
Key Takeaways
Key players in the newborn eye imaging systems market include System Vision SA, Sanofi-Aventis LLC., Allied Vision Technologies GmbH, Leica Microsystems, Canon Medical Systems, USA., Carl Zeiss Meditec AG, Intelligent Retinal Imaging Systems, Nikon Corporation, Kowa American Corporation, Topcon Europe Medical BV, NextSight, Veatch Ophthalmic Instruments, Boston Micromachines Corporation, Thales Group, Imagine Eyes, SERVICOM MEDICAL (SINGAPORE) PTE LTD., Visunex Medical Systems, Inc., IBM, Remidio Innovative Solutions. These players are focusing on new product launches and partnerships to strengthen their market position.
There is a high unmet need for newborn eye screening in emerging markets of Asia Pacific and Latin America which presents significant growth opportunities for players. Furthermore, growing public-private collaborations for improving neonatal care infrastructure in developing countries will aid the global expansion of the newborn eye imaging systems market.
The rising incidence of preterm births worldwide is expected to be a major growth driver for the newborn eye imaging systems market. According to the World Health Organization, preterm births affected 1 in 10 infants globally in 2020. Premature infants are at a higher risk of ROP which requires timely screening. This is increasing the demand for effective imaging technology from neonatal care facilities. Additionally, technological advancements leading to miniaturization and portability of imaging devices are further fueling the adoption of newborn eye imaging systems.
PEST Analysis
Political: Governments worldwide are focusing on improving healthcare standards especially for newborns by investing in advanced imaging systems. Regulations are being formulated to ensure safety, effectiveness and quality of newborn eye imaging systems.
Economic: Growing healthcare expenditures driven by rising incomes are allowing more families to opt for advanced newborn healthcare solutions. Developed markets are major revenue generators for players in this market.
Social: Rising awareness about identifying eye disorders and other developmental issues in newborns early on is driving greater adoption of newborn eye screening. This is helping reduce blindness and other long-term vision impairments.
Technological: Manufacturers are investing in digital technologies like artificial intelligence, augmented and virtual reality to develop advanced systems with capabilities like auto-detection of issues. Portable devices allow for screenings outside hospitals.
Newborn Eye Imaging Systems Market Regional Analysis Geographical regions where the market is concentrated in terms of value include North America, Western Europe and Japan. Developed markets have well-established healthcare systems and more discretionary spending on advanced technologies.
The Asia Pacific region excluding Japan is poised to be the fastest growing market during the forecast period. This is attributed to growing healthcare expenditures, rising birth rates, increasing medical tourism and government efforts to strengthen newborn care infrastructure in developing countries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
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