PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1529588
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1529588
Global newborn eye imaging systems market is estimated to be valued at USD 270.1 Mn in 2024 and is expected to reach USD 379.2 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 5% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 270.1 Mn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: | 5.00% | 2031 Value Projection: | US$ 379.2 Mn |
Global newborn eye imaging systems market is expected to witness growth over the forecast period due to rising prevalence of eye disorders among newborns. Eye imaging systems help identify various eye defects in infants at an early stage to facilitate timely treatment interventions. Growing awareness about vision screening of newborns and favorable government policies regarding newborn eye care can boost demand for newborn eye imaging systems globally. Advancements in imaging technologies allow high-resolution screening of infant eyes and detection of conditions that were previously difficult to identify without specialized equipment. Due to emergence of novel imaging modalities and continued technological upgrades, global newborn eye imaging systems market can witness growth in the near future.
Global newborn eye imaging systems market growth is driven by rising incidence of retinopathy of prematurity (ROP) and other eye disorders in infants. According to credible estimates, nearly 5-10% of premature babies suffer from some degree of ROP globally each year. Increasing survival rates of premature infants owing to improved neonatal care has concurrently raised the prevalence of ROP. Favorable government initiatives aimed at newborn vision screening and policies mandating eye examinations boosts adoption of these systems among healthcare facilities. However, high costs involved, particularly for healthcare providers in low-and-middle-income countries, can hamper the market growth. Moreover, lack of awareness regarding timely screening and non-availability of trained personnel for operating specialized imaging devices can also hamper the market growth. Ongoing technological ameliorations to develop more portable and affordable systems can provide new market growth opportunities.
Detailed Segmentation-