New Born Eye Imaging Systems Market Size, Share, Growth Report 2032

Industry Perspective

The global newborn eye imaging systems market size was valued at USD 210.45 Million in 2022 and is anticipated to grow to USD 391 Million by the end of 2030. The newborn eye imaging systems market is anticipated to grow with a CAGR of 9.29% during the forecast period.

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The market report is an in-depth study on newborn eye imaging systems in the healthcare industry, focusing on growth drivers and upcoming market trends. Also, the newborn eye imaging systems industry report offers comprehensive insights into the geographical and competitive marketplace.

New Born Eye Imaging Systems Market: Overview

The eye imaging system refers to the devices that assist in identifying the issues associated with the eyes. High-resolution imaging devices are needed to extract a clear image of the eye's internal structure in digital retinal imaging. It allows certified professionals to examine the retina’s health and manage eye problems like macular degeneration, glaucoma, diabetes, etc. We are witnessing high eye abnormalities like retinopathy of prematurity (ROP) in newborn babies leading to damaged eye cells and vision loss with time. The entire eye imaging system is essential to diagnosing these eye-related problems in newborns.

Key Insights

• As per the analysis shared by our research analyst, the global newborn eye imaging systems market is estimated to grow annually at a CAGR of around 9.29% over the forecast period (2023-2030).
• In terms of revenue, the global newborn eye imaging systems market size was valued at around USD 210.45 Million in 2022 and is projected to reach USD 391 Million by 2030.
• The rising number of babies with eye disorders is likely to boost the newborn eye imaging systems market growth.
• Based on the disease type, the ROP segment accounts for the largest share of the global newborn eye imaging systems market.
• Based on the end user, the hospital segment holds the largest share of the global newborn eye imaging systems market.
• Based on the device type, the basic device segment dominates the global market.
• Based on region, North America is expected to dominate the market during the forecast period.

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New Born Eye Imaging Systems Market: Growth Drivers

Rising number of babies with eye disorders will boost the growth of the global market.

The fast-growing number of babies globally is a major reason for the growth of the global newborn eye imaging systems market. These numbers further escalate the demand for eye imaging systems for newborns. Eye problems among newborns are increasing due to the changing lifestyle of people (including pregnant women). Also, the growing pollution further complements the factors impacting the health of the baby. Additionally, the increasing healthcare expenditure also positively impacts the growth trajectory of the global market. The presence of reimbursement policies in developed regions further encourages people to take complete treatment, thereby boosting the growth of the global market.

New Born Eye Imaging Systems Market: Restraints

Lack of qualified professionals and personnel is expected to hamper the growth of the global market.

Sophisticated technologies and devices require certified professionals with good knowledge of the subject matter. A more clinical and skilled workforce is needed to use these advanced imaging systems with newborns. Such a market landscape is likely to hamper the growth of the global newborn eye imaging systems industry. Professional and personnel staff should undergo intensive training programs to master these tech devices.

New Born Eye Imaging Systems Market: Opportunities

Latest imaging equipment and upgraded technologies will offer immense growth opportunities in the global market.

The innovations in the healthcare industry led to the emergence of the latest imaging technologies and devices. The integration of deep learning and artificial intelligence (AI) owing to their benefits in screening a larger pool of the population for retinal disorders, is likely to offer immense growth opportunities in the global newborn eye imaging systems market. Several studies concluded that AI is highly effective in detecting eye disorders like retinopathy of prematurity, diabetic retinopathy, macular degeneration, and other neurological disorders such as Alzheimer's. Therefore, such a landscape is widening the scope of newborn eye imaging systems in the global market.

New Born Eye Imaging Systems Market: Challenges

High cost is a big challenge in the global market.

The high costs of treatment are one of the biggest barriers in the global newborn eye imaging systems industry. The growing healthcare expenditure in developing and underdeveloped economies is negatively impacting the growth trajectory of the market. Also, the reimbursement policies in developed economies are reduced for imaging, thereby limiting the reach of mass numbers of people to complete treatment.

New Born Eye Imaging Systems Market: Segmentation

The global newborn eye imaging systems market can be segmented into end user, disease type, device type, and region.

On the basis of end-user, the market can be segmented into ophthalmology diagnosis centers, hospitals, ambulatory surgical centers, and others. The hospital segment holds the largest share of the global newborn eye imaging systems market with a market share of 38.54% in 2022. The hospital offers a myriad of services in eyecare procedures with advanced medical devices from leading companies; thereby, people prefer to visit hospitals more than any other options.

On the basis of disease type, the newborn eye imaging systems industry can be segmented into ROP, color blindness, strabismus, refractive error, retinal disease, and others. The ROP segment accounts for the largest share of the global newborn eye imaging systems market. The segment is expected to share a market revenue of 37.28% during the predicted period. Retinopathy of prematurity (ROP) is the primary cause of potential infant blindness globally.

Lack of proper knowledge and certified professionals is the major reason fueling the growth of the segment in the global market. Also, the tech advancements like the emergence of mydriatic and non-mydriatic cameras with broad and deep vision are expected to further strengthen the growth of the segment. Retinal disease is also forecasted to witness extensive growth in the coming years, with a CAGR of 6.8%. The increasing retinal disease problems like epiretinal membranes, retinopathy, retinal detachment, and retinal tears are expected to boost the segment's growth.

On the basis of device type, the market can be segmented into wireless devices and basic devices. The basic device segment dominates the global market with a market share of 56%. These devices take an accurate image of the baby's eye, including retina and pupil dilation. It offers information regarding anterior chamber depth, corneal thickness, optic nerve function, etc. The wireless segment is also likely to grow significantly with a healthy CAGR of 7.2% during the forecast period. These devices offer several advantages over others, like photographing difficult-to-reach areas (including the backside of the eye).

Recent Developments:

• Advancing Eyecare in November 2022 revealed the acquisition of the leading US distributor of ophthalmic equipment, Veatch Ophthalmic Instruments. Advancing Eyecare is the leading provider of ophthalmic instruments.
• Quest Diagnostic collaborated with Intelligent Retinal Imaging Systems (IRIS) in April 2022 to offer diabetic retinal imaging services across the US to help in the screening process of patients for retinal scans.

New Born Eye Imaging Systems Market: Report Scope

New Born Eye Imaging Systems Market: Regional Analysis

North America is expected to be the fastest-growing region in the global market.

North America is expected to dominate the global newborn eye imaging systems market with a market volume of 34.86% in 2022. The increasing prevalence of eye disorders like glaucoma and diabetic retinopathy is expected to augment the growth of the regional market. Also, people in the region are looking forward to the invasive treatment for eye disorders, which is likely to propel the growth of the regional market. Growing awareness among people regarding neonatal imaging is further expected to strengthen the regional market's growth. AI is being highly used for diagnosing blindness in premature newborns in the United States.

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Europe is expected to be the fastest-growing region in the forthcoming years, with a healthy CAGR of 7.2%. The surging cases of ROP, along with the increasing disposable income of people, are likely to expand the regional market. Also, the presence of prominent market players in the region is further expected to augment the growth of the regional market.

New Born Eye Imaging Systems Market: Competitive Analysis

The key market players in the global newborn eye imaging systems market include Thales Group and Imagine Eyes, Boston Micromachines Corporation, Veatch Ophthalmic Instruments, NextSight, Topcon Europe Medical BV, Kowa American Corporation, Nikon Corporation, Intelligent Retinal Imaging Systems, Carl Zeiss Meditec AG, Canon Medical Systems, USA., Leica Microsystems, Allied Vision Technologies GmbH, System Vision SA, Remidio Innovative Solutions, Visunex Medical Systems, Inc., Natus Medical Incorporated, and others.

The global newborn eye imaging systems market is segmented as follows:

By End User

• Ophthalmology Diagnosis Centers
• Hospitals
• Ambulatory Surgical Centers
• Others

By Disease Type

• ROP
• Color Blindness
• Strabismus
• Refractive Error
• Retinal Disease
• Others

By Device Type

• Wireless Device
• Basic Device

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa