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Press Release: Widefield Imaging Systems Market to Surpass US$ 901.5 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Widefield Imaging Systems Market – Insights
Wide-field fluorescence microscopy is an imaging technique that relies on illumination of the intact field of interpretation of a fluorescence microscope and simultaneous finding of the discharged fluorescence using a camera and or a technique where the images with large numbers of resolution elements distributed across the interferometer primary beam.
The global widefield imaging systems market is estimated to account for US$ 477.7 Mn in terms of value in 2019 and is expected to reach US$ 901.5 Mn by the end of 2027.
Global Widefield Imaging Systems Market: Drivers
Increasing prevalence of diabetic retinopathy is expected to boost growth of the global widefield imaging systems market over the forecast period. For instance, according to the study ‘Global causes of blindness and distance vision impairment 1990-2020: a systematic review and meta-analysis’, published in the journal Lancet, in 2015, 2.6 million people were visually impaired because of diabetic retinopathy, and the number is expected to reach 3.2 million in 2020.
Moreover, favorable government policies are also expected to aid in growth of the market. For instance, in the U.S., Patient Protection and Affordable Care Act allows patients to reimburse their expenditure on health examination.
North America region held dominant position in the global widefield imaging systems market in 2018, accounting for 43.2% share in terms of value, followed by Europe.
Global Widefield Imaging Systems Market: Restraints
High rates of technical failure in wide-angle field and non-mydriatic retinal photography may lead to confusion in image screening and sub-optimal screening output. This in turn may lead to a serious impact on the clinical and cost-effectiveness of the screening program especially in underdeveloped nations.
Moreover, high cost of widefield imaging systems is also expected to hinder growth of the global widefield imaging systems market. For instance, a widefield imaging system may cost around US$ 85, 000.
Global Widefield Imaging Systems Market: Opportunities
The cost of ophthalmic devices is remarkably high, which may decrease their adoption in emerging economies. Therefore, justified pricing of ophthalmic devices is expected to offer lucrative growth opportunities for players in the market.
Moreover, availability of finance in emerging economies is also expected to aid in growth of the global widefield imaging systems market. Moreover, offering corporate contracts based on rent-to-own model is also a feasible option.
Instrument segment in the global widefield imaging systems market was valued at US$ 364.5 Mn in 2018 and is expected to reach US$ 770.1 by 2027 at a CAGR of 8.5% during the forecast period.
Market Trends/Key Takeaways
The market is witnessing increasing integration of electronic health record (EMR) platforms in ophthalmic devices. For instance, the RetCam 3, a product of Natus Medical Incorporated, is a fully integrated system, which generates files that are Digital Imaging and Communications in Medicine (DICOM) compatible for transfer into EMR systems.
The market is also witnessing launch ultra-low power image sensor for imaging systems. For instance, in January 2020, Himax Imaging, Inc. launched HM0360, an industry-first ultralow power and low latency Back-Illuminated CMOS Image Sensor solution with autonomous modes of operations.
Value Chain Analysis
Global Widefield Imaging Systems Market: Competitive Landscape
Major players operating in the global widefield imaging systems market include, Clarity Medical Systems Inc., Heidelberg Engineering, Inc., Visunex Medical Systems, Inc., Centervue SpA, Optos Plc. (Nikon Corporation), and ZEISS International.
Global Widefield Imaging Systems Market: Key Developments
Major players in the market are launching new products to expand their product portfolio. For instance, in October 2019, Optos plc, launched Silverstone – a combined ultra-widefield retinal imaging device and UWF-guided swept source optical coherence tomography (OCT).
Major players in the market are also focused on adopting various marketing strategies to enhance their market share. For instance, in September 2019, ZEISS International presented new technologies in digitalization of eye care and high-resolution imaging during the 2019 European Society of Cataract and Refractive Surgery (ESCRS) Annual Meeting in Paris.
Widefield retinal imaging involves imaging of peripheral retina which is the primary site of several ocular diseases. Widefield imaging helps in management of peripheral retina diseases. These systems are capable of producing wide, and ultra wide colored fundus photographs, fluorescein and indocyanine green angiograms, and autofluorescence images. Important ophthalmic diseases such as diabetic retinopathy, retinal vascular occlusions and tumors,, age-related macular degeneration, and others can be effectively diagnosed and managed using wide field imaging technology. Moreover, increasing prevalence of such diseases is further expected to support growth of the market over the forecast period. For instance, According to a report presented by the University of Bonn, 2017, around 17.7% of diabetic patients have showed signs of moderate non-proliferative diabetic retinopathy while around 2% patients are affected by severe non-proliferative diabetic retinopathy in the Europe
Restraints of the Global Widefield Imaging Systems Market
Small to medium scale ophthalmic clinics in emerging economies in Asia Pacific and Africa region may not afford these high cost wide field imaging systems which restraints the market growth up to certain extent.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 26 market data tables and 18 figures on “Widefield Imaging Systems Market – Global forecast to 2027.
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