The global widefield imaging systems market is estimated to be valued at US$ 592.1 million in 2023 and is expected to exhibit a CAGR of 6.7 % during the forecast period (2023-2030).
Analysts’ Views on Global Widefield Imaging Systems Market:
The global widefield imaging systems market's growth can be hindered by high cost of widefield imaging systems. Increasing favorable government policies is expected to drive the global widefield imaging systems market over the forecast period. For instance, according to the Congressional Budget Office (CBO), in the U.S., Patient Protection and Affordable Care Act allows patients to reimburse their expenditure on health examination.
Figure 1. Global Widefield Imaging Systems Market Share (%), by Indication , 2023
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Global Widefield Imaging Systems Market – Driver
Increasing prevalence of diabetic retinopathy
Increasing prevalence of diabetic retinopathy is expected to drive the widefield imaging systems market over the forecast period. For instance, in 2021, according to the article published in Indian Journal of Ophthalmology in 2021, Diabetic Retinopathy (DR) is a leading cause of blindness in adults in developed countries. According to the International Agency for the Prevention of Blindness, over 4 million people are suffering from vision loss due to DR worldwide.
Figure 2. Global Widefield Imaging Systems Market Value (US$ Million), by Region, 2023
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Global Widefield Imaging Systems Market- Regional Analysis
Among regions, North America is estimated to hold a dominant position in the global widefield imaging systems market over the forecast period. North America holds 43.2% of the market share due to the increasing product launch of wide field imaging devices in region. For instance, in March 2022, epipole, an emerging provider of world-class handheld fundus cameras, launched epiCam fundus camera to the US Eye Care market, at the Vision Expo East in New York City.
Widefield Imaging Systems Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 592.1 Mn |
Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 6.7% | 2030 Value Projection: | US$ 930.4 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Clarity Medical Systems Inc., Heidelberg Engineering, Inc., Visunex Medical Systems, Inc., Centervue SpA, Optos Plc. (Nikon Corporation), and ZEISS International. |
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Growth Drivers: |
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Restraints & Challenges: |
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Global Widefield Imaging Systems Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.
COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.
However, the COVID-19 pandemic had a positive impact on the global widefield imaging systems market. The devices used in primary clinical treatment such as Respiratory support devices such as atomizer, life-support machine, oxygen generator, and monitor are among the majorly. The demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses also increases. With a rise in the number of COVID-19 cases worldwide, the need for medical supplies also increased, both from healthcare professionals and civil populations for precautionary measures.
Global Widefield Imaging Systems Market Segmentation:
The global widefield imaging systems market report is segmented into Component, Indication , Modality, End User, and Region
Based on Component, the market is segmented into Instrument and Software. Out of which, the Instrument segment is expected to hold a dominant position in the widefield imaging systems market during the forecast period and this is attributed to the increasing usage of various instrument for imaging systems.
Based on Indication, the market is segmented into Diabetic Retinopathy, Retinopathy of Prematurity, Pediatric Retinal Diseases, Retinal Vein Occlusion, Ocular Oncology, Uveitis, Chorioretinal Disease, Glaucoma, Others. Out of which, the Pediatric Retinal Diseases segment is expected to hold a dominant position in the widefield imaging systems market during the forecast period and this is attributed to the increasing cases of eye diseases in premature babies.
Based on Modality, the market is segmented into Standalone and Portable. Out of which, the Standalone segment is expected to hold a dominant position in the widefield imaging systems market during the forecast period and this is attributed to the many equipment of widefield imaging systems are available in larger size and they need table in order to fix the devices.
Based on End User, the market is segmented into Specialty Clinics, Hospitals and Ambulatory Surgical Centers. Out of which, the hospital segment is expected to dominate the market over the forecast period and this is attributed to the increase in the number of new hospitals for the Widefield Imaging treatment over the forecast period.
Among all segmentation, the Indication segment has the highest potential due to the increasing prevalence of pediatric retinal diseases over the forecast period due to the rising in vision impairment among teenagers. For instance, as per the Centers for Disease Control and Prevention, in 2020, approximately 6.8% of children below 18 years have been detected with vision and eye condition in the U.S.
Global Widefield Imaging Systems Market Cross Sectional Analysis:
Among Indication, the pediatric retinal diseases segment is dominant during the forecast period in North America region due to the increasing prevalence of pediatric retinal diseases, which is expected to drive segment growth over the forecast period. For instance, on March 27, 2023, Ocugen,Inc., a biotechnology company, focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines, announced that the U.S. Food and Drug Administration (FDA) approved enrolling pediatric patients in the ongoing OCU400 Phase 1/2 trial.
Global Widefield Imaging Systems Market: Key Developments
Global Widefield Imaging Systems Market: Key Trends
Launch of ultra-low power image sensor
Launch of ultra-low power image sensor for imaging systems is expected to drive the widefield imaging systems market growth over the forecast period. For instance, in January 2020, Himax Imaging, Inc., a semiconductor company that designs, manufactures, and sells CMOS Image Sensors (CIS), System-on-Chip (SOC) and wafer level camera solutions for next generation camera system, video communication, and sensing applications, launched HM0360, an industry-first ultralow power and low latency Back-Illuminated CMOS Image Sensor solution with autonomous modes of operations.
Global Widefield Imaging Systems Market: Restraint
High cost of widefield imaging systems
The global widefield imaging systems market can be hindered by high cost of widefield imaging systems. For instance, in 2020, Optos, a division of Nikon Co. Ltd, Japan announced that, the 3 instruments generate revenue of more than US$ 230,000 out of which the full purchase price of the Optos Daytona is US$ 85,000.
Global Widefield Imaging Systems Market - Key Players
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– 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.
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