Charting Progress: Widefield Imaging Systems Market Growth by 2033...

Charting Progress: Widefield Imaging Systems Market Growth by 2033

Posted 2024-01-02 08:06:07

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The global widefield imaging system market is estimated to be worth US$ 0.6 billion in 2023 and projected to be valued at US$ 1.4 billion by 2033. Between 2023 and 2033, the market is expected to register a growth rate of 8.6%.

Growing demand for wide-field imaging devices and increasing expenditure towards the expansion of healthcare infrastructure are some of the factors leading to the growth of the market during the forecast period.

Widefield imaging systems play a crucial role in the detection and management of diabetic retinopathy, as they can capture a wider field of view of the retina compared to traditional fundus cameras. This allows for the early detection of subtle changes in the retinal blood vessels, microaneurysms, hemorrhages, and other signs of diabetic retinopathy.

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The demand for widefield imaging is high in pediatric retinal disease as it is non-invasive and does not require contact with the eye, making it more comfortable and less intimidating for pediatric patients, including infants and young children. Widefield imaging eliminates the need for eye drops and the associated discomfort.

Rise in the number of ophthalmic surgeries being performed due to flourishing medical tourism and the presence of favorable reimbursement policies, and increasing consumer spending on eye health is favoring the market growth.

Key Takeaways from the Market Study:

From 2018 to 2022, the widefield imaging systems market market demand expanded at a CAGR of 6.2%
Based on component, the instrument segment is expected to account for a CAGR of 8.5% during the forecast period.
Global widefield imaging systems demand in Germany is predicted to develop at a CAGR of 1% from 2023 to 2033.
In the United States, the market is expected to reach US$ 1.3 billion between 2023 and 2033.
A growth rate of 8.4% is estimated for the standalone segment over the forecast period.
China is projected to expand by 8.0% between 2023 and 2033.
By 2033, the widefield imaging systems market in India is anticipated to record a CAGR of 7.8% during the forecast period.

“The rise in the number of ophthalmic surgeries being performed due to flourishing medical tourism is favoring the market growth. Increasing investment in healthcare in emerging economies is anticipated to support the growth of the market during the forecast period," says an FMI analyst.

Competitive Landscape:

The market players invest in research and development, sustainability initiatives, and digitalization to stay competitive and provide innovative widefield imaging systems market solutions to a wide range of industries. Some of the recent developments in the market are discussed below.

In January 2022 – Heidelberg Engineering is serving as a member of the Glaucoma / Myopia OCT Phenotyping Consortium (GMOPC), in a new effort to support research to improve the detection of glaucoma, the world´s leading cause of irreversible vision loss.
In October 2023 - ZEISS Medical Technology and Boehringer Ingelheim announced a long-term strategic collaboration to develop predictive analytics to enable early detection of eye diseases and more personalized treatments to prevent vision loss for people with serious eye diseases.
The partnership brings together their leading expertise in ophthalmological technology, data analytics, algorithms and the development of first-in-class treatments to detect early and treat retinal diseases before irreversible vision loss occurs.

Key Companies Profiled: