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Newborn Eye Imaging Systems Market Trends, Growth & Forecast 2024-2033
Newborn Eye Imaging Systems Market Trends
According to The Business Research Company's, 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 growth in the historic period can be attributed to healthcare accessibility and awareness, early disease detection initiatives, neonatal healthcare advancements, clinical studies and research, regulatory framework and guidelines..
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 growth in the forecast period can be attributed to increased prevalence of prematurity, focus on early intervention, telemedicine and remote consultations, research and development investments, growing awareness and education.. Major trends in the forecast period include collaborations and partnerships, continued research and clinical studies, personalized imaging and treatment plans, enhanced connectivity and data sharing, remote monitoring and telemedicine..
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Market Drivers and Trends:
The rapidly rising numbers of babies that are suffering from eye problems are expected to propel the growth of the newborn eye imaging systems market going forward. Eye problems refer to any type of vision loss such as total blindness and partial vision loss or people suffering from some common eye-related defects. Eye impairments in newborns can be congenital (often genetic abnormalities or caused by intrauterine injury) or acquired postnatally. Mothers suffering from diabetes may be one of the reasons for ocular abnormalities in children, along with linked to both superficial and deep hemorrhages and vascular disruption in the newborn retina. This creates demand for diagnosis and treatment of eye diseases in newborns, driving demand for newborn eye imaging systems. For instance, in April 2022, according to the International Agency for the Prevention of Blindness (IAPB), a US-based international alliance working to promote eye health, 448 million children and teenagers representing ages 0 to 19 were suffering from refractive errors. 90 million children and teenagers had some degree of vision impairment, of which 2 million were blind, 30 million had moderate-to-severe impairment, and 58 million had mild impairment. Therefore, the rapidly rising numbers of babies that are suffering from eye problems are driving the growth of the newborn eye imaging systems market.
Technological advancements are a key trend gaining popularity in the newborn eye imaging systems market. Major companies operating in the newborn eye imaging systems market are focusing on developing technologically advanced systems to sustain their position in the market. For instance, in December 2022, NeoLight Newborn Care, a US-based medical device company for newborns, announced the availability of retinopathy of prematurity progression (ROP) Check, a software utilized in digital care coordination for pediatric retinal screening to identify and track retinopathy of prematurity progression (ROP). The ROP Check system makes sure that all eligible infants in the neonatal intensive care unit (NICU) receive eye exams at the appropriate time and in accordance with predetermined standards and share the same examinations and schedule across both inpatient and outpatient practices. ROP Check has the unique and seamless capability to cross-functionally manage patients or parents, NICUs, NICU ROP coordinators, in house or visiting ophthalmology specialists, billing specialists, discharge leaders and post discharge out-patient physicians.
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Major Key Players of the Market:
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
Newborn Eye Imaging Systems Market 2024 Key Insights:
• The newborn eye imaging systems market will grow to $2.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• The Surge In Newborn Eye Problems Fueling The Expansion Of The Newborn Eye Imaging Systems Market
• Technological Advancements Steering The Evolution Of The Newborn Eye Imaging Systems Market
• North America was the largest region in the newborn eye imaging systems market in 2023
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