Wide Field Imaging Devices Market Trends & Growth
The global wide field imaging devices market size is expected to reach USD 779.7 million by 2027 according to a new report by Grand View Research, Inc. It is anticipated to exhibit a CAGR of 6.7% during the forecast period. Growing prevalence of retinal disorders such as diabetic retinopathy, choroidal melanoma, and Uveitis is expected to drive the adoption of wide field imaging devices. Moreover, increasing product launches for various application areas mainly to capture the infection in the posterior side of the eye is also expected to propel the overall market growth. Increasing usage in various medical environment is also expected to contribute toward the adoption of hand-held wide field imaging devices.
Increasing number of Retinopathy of Prematurity (ROP) cases is leading to growing demand of the device for quick and effective diagnosis. Therefore, various market players are continuously engaging in technological advancement to effectively diagnose and treat ROP. In addition, growing number of retinal specialty clinics and increasing installation of wide field imaging devices are the factors expected to ensure swift market growth during the forecast period.
Major market players are incorporating various strategies such as mergers and acquisitions, partnerships, and collaborations to develop, distribute, and enhance wide field imaging devices in different settings and widen the scope of their application. Moreover, clinical studies conducted by various universities to understand the effectiveness of the devices and to compare the already existing and upcoming products is expected to boost the market growth during the forecast period.
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Wide Field Imaging Devices Market Report Highlights
Diabetic retinopathy held the largest market share in 2019 and is expected to expand at the fastest CAGR mainly due to increasing prevalence of diabetes and diabetic retinopathy
Retinopathy of prematurity segment held significant revenue share in 2019 mainly due to increasing cases of retinal disease in premature babies
Tabletop wide field imaging devices held largest share in 2019 mainly due to increasing adoption of these devices in various medical settings
Hospitals held largest share in end-use segment largely due to growing installation of wide field imaging devices in the setting
In 2019, North America dominated the global space with the largest revenue share owing to the adoption of wide field imaging devices in the region and increasing product launches in the countries such as U.S.
Asia Pacific is expected to expand at the fastest CAGR during the forecast period mainly due to increasing alliances between the global and local players to enhance the product distribution in the region