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Newborn Eye Imaging Systems Market Growth Forecast 2024-2033: What’s the Expected Rate?

The market size for newborn eye imaging systems has seen substantial growth in the past few years. The value is projected to increase from $1.99 billion in 2023 to $2.13 billion in 2024, with a compound annual growth rate (CAGR) of 7.1%. This past growth is owing to improved healthcare accessibility and awareness, initiatives for early detection of diseases, advancements in neonatal healthcare, clinical studies and research, as well as regulations and guidelines.

Anticipated robust expansion is on the horizon for the newborn eye imaging systems market, with its size projected to reach $2.77 billion by 2028, growing at a compound annual growth rate (CAGR) of 6.7%. This substantial growth during the forecast period hinges on various factors such as a rising incidence of premature births, an emphasis on early intervention, advances in telemedicine & remote consultations, significant investment in research & development, and heightened awareness & education. Noteworthy trends for the forecasted period encompass collaboration & partnerships, ongoing research & clinical study efforts, individualized imaging & treatment plans, enhanced interconnectivity & data exchange, along with remote supervision and telemedicine.

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What Factors Are Impacting the Growth of the newborn eye imaging systems Market?

The swift increase in infant vision impairment cases is predicted to boost the newborn eye imaging systems market. Vision issues encompass various degrees of blindness including total and partial or those dealing with common eye defects. Newborn eye defects can be inborn due to genetic abnormalities or intrauterine injury or may develop after birth. Maternal diabetes may contribute to eye abnormalities in babies, as well as cocaine use which can result in both superficial and deep retinal hemorrhages and vascular disruption in newborns. The need for diagnostic and treatment methods for infants’ vision diseases increases the demand for newborn eye imaging systems. For instance, in April 2022, the International Agency for the Prevention of Blindness (IAPB), a US-based international alliance for promoting eye health, reported that 448 million children and teenagers ranging from 0 to 19 years were experiencing refractive errors. 90 million of them had vision problems– 2 million were completely blind, 30 million had moderate to severe impairment, and 58 million had mild impairment. Therefore, the swiftly increasing number of infants with vision impairments propels the growth of the newborn eye imaging systems market.

What Are the Fundamental Segments in the Newborn Eye Imaging Systems Market?

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

What Trends Are Shaping the New Direction of the Newborn Eye Imaging Systems Market?

Advancements in technology are fast becoming a prevailing trend in the market for newborn eye imaging systems. To maintain their market stance, leading firms in this field are placing an emphasis on the creation of technologically efficient systems. For example, in December 2022, the US-based newborn medical device company NeoLight Newborn Care made public the availability of its software ROP Check which is used for the digital coordination of pediatric retinal screening and ensures the identification and tracking of ROP progression. The system guarantees that any eligible babies in the NICU receive appropriate and standardised eye exams and also makes it possible to share this data across inpatient and outpatient services. Besides, ROP Check provides a fluid functionality that enables the management of patients or parents, NICUs, NICU ROP coordinators, in-house or visiting eye specialists, billing specialists, discharge leaders as well as post-discharge outpatient physicians.

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Which Regions Are Making a Mark in the Newborn Eye Imaging Systems Market Growth?

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 Newborn Eye Imaging Systems Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the newborn eye imaging systems market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Newborn Eye Imaging Systems Market Include

1. Newborn Eye Imaging Systems Market Executive Summary

2. Newborn Eye Imaging Systems Market Segments

3. Newborn Eye Imaging Systems Market Size And Template Market Growth Rate

4. Key Newborn Eye Imaging Systems Market Trends

5. Major Newborn Eye Imaging Systems Market Drivers

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25. Key Mergers And Acquisitions In The Newborn Eye Imaging Systems Market

26. Top Newborn Eye Imaging Systems Companies

27. Newborn Eye Imaging Systems Market Opportunities And Strategies

28. Newborn Eye Imaging Systems Market, Conclusions And Recommendations

29. Appendix

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