by The newborn eye imaging systems market has seen major advancements in recent times with the development of portable and wireless eye imaging devices. Newborn eye imaging systems are specialized medical devices used to examine the retina and anterior segment of eyes in newborn babies, in order to screen and diagnose various ophthalmic conditions such as retinopathy of prematurity (ROP). These systems provide non-invasive and detailed imaging of the infant eye, which aids in early diagnosis and treatment if required. Advantages of newborn eye imaging systems include easy transportation of premature babies, ability to capture high-resolution images, and real-time monitoring capabilities.
The Global Newborn Eye Imaging Systems Market is estimated to be valued at US$ 379.2 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the newborn eye imaging systems are 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.
Growing prevalence of eye disorders in newborns and preterm babies is driving the demand for newborn eye imaging systems. According to recent estimates, over 1 million infants are diagnosed with ROP each year globally, necessitating widespread screening using specialized eye imaging devices.
Key players are focusing on expanding their geographical presence in emerging markets. Manufacturers are aiming to increase their sales and distribution networks in Asia Pacific and Middle East & Africa, where the newborn population is rising significantly. This is expected to boost the availability of newborn eye screening services across low and middle-income countries over the forecast period.
Market Key Trends
One of the key trends gaining traction in the newborn eye imaging systems market is the growing popularity of portable and wireless devices. Manufacturers are developing handheld, battery-powered devices that can be easily carried between wards. This allows screening of infants in the neonatal intensive care unit (NICU) itself without moving them. Wireless connectivity options are also being incorporated to enable remote diagnosis. Such portable devices are expected to improve the efficiency of retinal screening programs by increasing the coverage rate among newborns. Overall, technology advances towards miniaturization and wireless connectivity will continue shaping the newborn eye imaging systems market outlook over the next few years.
Porter’s Analysis
Threat of new entrants: The newborn eye imaging systems market has moderate threat from new entrants as it requires huge capital investments and presence of established players. However, new advanced technologies can offer opportunities.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of substitutes and differentiated needs of buyers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers for instruments, cameras and software etc. Suppliers may try to leverage their position.
Threat of new substitutes: Threat from substitutes is low as there is no close substitute for newborn eye imaging equipments used for screening and diagnostics.
Competitive rivalry: The market is fragmented with presence of many regional and global players offering differentiated products. Price competition is high.
Newborn Eye Imaging Systems Market Regional Analysis Geographical regions:
North America region accounts for the largest share in the newborn eye imaging systems market owing to developed healthcare infrastructure, rising initiatives for screening programs and presence of major players.
The Asia Pacific region is expected to be the fastest growing market during the forecast period due to growing awareness, increasing healthcare expenditure and presence of large patient population. Countries like China and India offer high growth potential.
*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
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
