Newborn Eye Imaging Systems Global Market Report 2024

The newborn eye imaging systems market size has grown strongly in recent years. It will grow from $1.99 billion in 2023 to $2.13 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The expansion observed during the historical period can be attributed to various factors, including improved healthcare accessibility and awareness, initiatives for early disease detection, advancements in neonatal healthcare, ongoing clinical studies and research efforts, as well as the presence of a regulatory framework and guidelines that support the development and use of newborn eye imaging systems.

The newborn eye imaging systems market size is expected to see strong growth in the next few years. It will grow to $2.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period can be attributed to factors such as the increased prevalence of prematurity, a heightened focus on early intervention, the integration of telemedicine and remote consultations, investments in research and development, and an expanding awareness and education regarding newborn eye health. Key trends expected in the forecast period include collaborations and partnerships within the industry, ongoing research and clinical studies, the development of personalized imaging and treatment plans, enhanced connectivity and data sharing, and the continued growth of remote monitoring and telemedicine practices in the field of newborn eye health.

The newborn eye imaging systems market is expected to experience growth due to the rapidly increasing number of babies facing eye problems. Eye problems encompass various forms of vision loss, including total blindness, partial vision loss, and common eye-related defects in newborns. These issues can be congenital or acquired postnatally, with factors such as genetic abnormalities, intrauterine injury, maternal diabetes, and cocaine exposure contributing to ocular abnormalities. The demand for diagnosing and treating eye diseases in newborns is on the rise, leading to an increased need for newborn eye imaging systems. As of April 2022, the International Agency for the Prevention of Blindness reported that 448 million children and teenagers aged 0 to 19 were affected by refractive errors, with 90 million experiencing some degree of vision impairment. The escalating numbers of babies facing eye problems are a key driver behind the growth of the newborn eye imaging systems market.

The growth of the newborn eye imaging systems market is anticipated to be fueled by increasing healthcare expenditure. Healthcare expenditure refers to the total spending on healthcare-related goods and services within a specific period on a national or institutional level. Higher healthcare spending facilitates the acquisition of innovative diagnostic technologies such as newborn eye imaging systems. This ensures access to advanced equipment for early and precise diagnosis of eye conditions in newborns. According to the 2021-2030 National Health Expenditure report by the Centers for Medicare & Medicaid Services (CMS), national health spending is projected to grow by an average of 5.1% annually between 2021 and 2030, reaching nearly $6.8 trillion. The increasing healthcare expenditure plays a crucial role in driving the growth of the newborn eye imaging systems market.

A significant trend in the newborn eye imaging systems market is the adoption of technological advancements. Leading companies in the market are focusing on the development of technologically advanced systems to maintain their market positions. For instance, in December 2022, NeoLight Newborn Care, a US-based medical device company, introduced the ROP Check software for digital care coordination in pediatric retinal screening. The ROP Check system ensures timely and standardized eye exams for eligible infants in the neonatal intensive care unit (NICU). It facilitates seamless management across various stakeholders, including patients, NICUs, ophthalmology specialists, and more.

Strategic partnerships are playing a key role in the newborn eye imaging systems market, with companies collaborating to enhance eye screening for children. In November 2022, Prada Group, an Italy-based luxury goods company, partnered with Vision+ Onlus, a non-profit organization in Italy promoting ophthalmic prevention programs. This collaboration aims to offer complimentary eye screenings for employees' children at Prada's Milan offices, as part of the 'Piccoli occhi da tenere d'occhio' initiative. The screening helps identify potential eye diseases and disorders at an early stage in preschool-age children.

In July 2022, ArchiMed, a France-based investment firm, acquired Natus Medical for $1.2 billion. Natus Medical, a US-based firm, offers solutions for screening, diagnosing, and treating disorders affecting the brain and sensory nervous systems, including newborn eye imaging systems. This acquisition positions Natus to bring advancements in the standard of care and enhance outcomes for patients affected by neurological disorders.

Major companies operating in the newborn eye imaging systems market report are D-EYE SRL, International Business Machines Corporation, Servicom Medical (Singapore) Pte. Ltd., Imagine Eyes, Visunex Medical Systems Inc., Remidio Innovative Solutions Pvt. Ltd., Allied Vision Technologies GmbH, Leica Microsystems GmbH, Canon Medical Systems Corporation, Intelligent Retinal Imaging Systems, Carl Zeiss Meditec AG, Nikon Corporation, Kowa American Corporation, Topcon Europe Medical B.V., Next Sight Srl, Veatch Ophthalmic Instruments, Boston Micromachines Corporation, Thales Group, Eye Photo Systems Inc., Merge Healthcare Inc., Natus Medical, New Eyes Medical, System Vision SA, Clarity Medical Systems Inc., Phoenix DeVentures, OcuSciences Inc., i-Optics Inc., Adaptica Srl, TCHO Ventures Inc., Valrhona SAS.

North America was the largest region in the newborn eye imaging systems market in 2023. The regions covered in the newborn eye imaging systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the newborn eye imaging systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

These imaging systems play a crucial role in identifying diseases such as retinopathy of prematurity (ROP), retinal diseases, strabismus, refractive errors, color blindness, and other conditions. They come in various types, including basic devices and wireless devices. Retinopathy of prematurity (ROP) is a specific eye condition characterized by abnormal blood vessel growth in the retina, occurring in premature babies or those weighing less than 3 pounds at birth. The usage of newborn eye imaging systems extends to hospitals, ophthalmology diagnosis centers, ambulatory surgical centers, and other healthcare facilities.

The newborn eye imaging systems market research report is one of a series of new reports that provides newborn eye imaging systems market statistics, including newborn eye imaging systems industry global market size, regional shares, competitors with newborn eye imaging systems market share, detailed newborn eye imaging systems market segments, market trends, and opportunities, and any further data you may need to thrive in the newborn eye imaging systems industry. This newborn eye imaging systems market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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