Newborn Eye Imaging Systems Market Competitive Analysis 2024: Major Players and Market Strategies

Overview and Scope
Newborn eye imaging systems refers to medical systems that aid to detect congenital ocular defects as soon as possible after birth of babies and help prevent long-term vision loss in a variety of disorders. The new-born eye imaging systems are used for various tests such as the external eye examination, red reflex test, and fundus imaging using a wide-field digital retinal imaging system by an experienced ophthalmologist.

Sizing and Forecast
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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Segmentation & Regional Insights
The newborn eye imaging systems market covered in this report is segmented –

1) By Disease Type: Retinopathy Of Prematurity (ROP), Retinal Disease, Strabismus, Refractive Error, Color Blindness, Other Disease Types
2) By Device Type: Basic Device, Wireless Device
3) By End User: Hospitals, Ophthalmology Diagnosis Centers, Ambulatory Surgical Centers, Other End Users

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

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Major Driver Impacting Market Growth
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 cocaine 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.

Key Industry Players
Major companies operating in the newborn eye imaging systems market are adopting a strategic partnership approach to provide eye screening for children. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in November 2022, Prada Group, an Italy-based luxury goods company partnered with Vision+ Onlus, an Italy-based non-profit organization promoting ophthalmic prevention programs. The partnership seeks to offer complimentary eye screenings for employees’ children, aged 3 to 10, at the Milan offices, as part of the children’s eye prevention initiative known as ‘Piccoli occhi da tenere d’occhio’ (Little Eyes to Watch). The screening, advocated by the association, is designed to identify potential eye diseases and disorders at the earliest stage in preschool-age children.

The newborn eye imaging systems market report table of contents includes:
1. Executive Summary
2. Newborn Eye Imaging Systems Market Characteristics
3. Newborn Eye Imaging Systems Market Trends And Strategies
4. Newborn Eye Imaging Systems Market – Macro Economic Scenario
5. Global Newborn Eye Imaging Systems Market Size and Growth
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31. Global Newborn Eye Imaging Systems Market Competitive Benchmarking
32. Global Newborn Eye Imaging Systems Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Newborn Eye Imaging Systems Market
34. Newborn Eye Imaging Systems Market Future Outlook and Potential Analysis
35. Appendix

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