The widefield imaging systems market is estimated to be valued at USD 0.6 billion in 2023. The market is expected to reach USD 1.4 billion by 2033 developing at a CAGR of 8.6%.
Widefield Imaging Systems Market Trend Analysis:
| Attributes | Key Insights |
|---|---|
| Widefield Imaging Systems Market Estimated Size in 2023 | USD 0.6 billion |
| Projected Market Value in 2033 | USD 1.4 billion |
| Value-based CAGR from 2023 to 2033 | 8.6% |
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
A 6.2% CAGR was experienced between 2018 and 2022 in the widefield imaging systems market. Global demand for widefield imaging systems is predicted to increase at a CAGR of 8.6% from 2023 to 2033.
Widefield imaging provides substantially more information about retinal disorders than conventional 7-field photography, which may change how diseases like diabetic retinopathy are classified and treated.
The aging population worldwide has led to an increased prevalence of age-related diseases, such as macular degeneration and glaucoma. Widefield imaging systems are valuable tools for managing these conditions.
Increasing application of widefield imaging in ophthalmology, for capturing detailed images of the retina, for diagnosing and managing retinal diseases, including diabetic retinopathy and glaucoma, drive the market demand.
| Historical CAGR from 2018 to 2022 | 6.2% |
|---|---|
| Forecast CAGR from 2023 to 2033 | 8.6% |
The below table showcases revenues in terms of the top 5 leading countries, spearheaded by the United States and the United Kingdom. Through 2033, these two countries are likely to dominate the market, with a combined size of USD 1.3 billion and USD 1.0 billion.
| Japan | USD 0.8 billion |
|---|---|
| India | USD 0.5 billion |
| The United States | USD 1.3 billion |
| China | USD 0.6 billion |
| The United Kingdom | USD 1.0 billion |
| Japan | 7.6% |
|---|---|
| India | 7.8% |
| The United States | 8.5% |
| China | 8.0% |
| The United Kingdom | 8.4% |
The United States is estimated to account for 90.3% of the North American widefield imaging systems market in 2021. The growing preference for outright ownership of devices over leasing is fueling the installed base in North America, especially in the United States.
Favorable reimbursement policies are anticipated to support the growth of the market. For example, the Patient Protection and Affordable Care Act permits patients to compensate for their expenses on health examinations in the United States. The growing technological advancement in the country for developing advanced imaging systems is anticipated to contribute to the growth of the market.
The United Kingdom is estimated to account for 17.4% of the Europe-widefield imaging systems market in 2021. The rising availability of wide-field imaging devices and favorable state reimbursement in the United Kingdom are contributing to market growth.
The public-private partnerships and collaborations are fueling product innovation in wide-field and ultra-wide-field imaging. This trend is primarily noted in the United Kingdom where academic institutes are consistently investing in research for improvement in imaging quality and faster processing of images, even device designing.
The widefield imaging systems market in China is estimated to be worth nearly USD 27 million in 2021. 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 in China.
The rising number of people suffering from visual impairment and other disorders and growing access to advanced healthcare facilities will continue supporting the expansion of the market in China.
Demand for widefield imaging systems in Japan is expected to rise at an impressive 7.6% CAGR over the forecast period. The aging population and rising incidence of diabetic retinopathy and diabetic macular edema are primary factors contributing to the growth of the market.
Technological advancements such as cloud platforms and remote patient monitoring are some of the features offered by leading healthcare institutes in Japan, presenting a conducive environment for the expansion of the market.
India accounted for around 14.2% of the global market in 2021 and is forecast to grow at a moderate CAGR over the forecast period. Factors such as the rapid rise in the geriatric population with age-related ocular problems and growing consumer awareness about the prevailing ophthalmic treatment trends are spurring market growth across India.
The growing prevalence of diabetes in India drove the demand for such imaging systems. Ophthalmologists to diagnose and manage retinal conditions, including diabetic retinopathy and age-related macular degeneration, used Widefield retinal imaging systems extensively.
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
According to market forecasts, the instrument segment is predicted to dominate until 2033, with a market share of 83.5% The standalone segment is expected to have share of 56.7%.
| Category | Market share |
|---|---|
| Instrument | 83.5% |
| Standalone | 56.7% |
| Diabetic Retinopathy | 36% |
By component, the instrument segment is anticipated to hold the maximum share of 83.5% in 2022. The segment is expected to gain traction owing to the increasing demand for widefield imaging systems in response to surging cases of diabetes leading to diabetic retinopathy.
The certain companies are launching technologically advanced equipment, which uses integrated electronic medical records (EMR) platforms. These factors are fueling the demand for instruments in the market.
In terms of indication, the diabetic retinopathy segment is projected to account for 36% of the total market share in 2022. Globally, diabetes is rapidly growing leading to several severe complications. Some of the most common complications are diabetic foot and diabetic retinopathy, among others.
By modality, the standalone segment leads the market and is projected to account for 56.7% of the total market share in 2022. Many wide-field imaging equipment are available in compact sizes that can appropriately fit onto a table. Such devices aid in stabilizing patient mobility to acquire clear images.
The integration of technologically advanced features in wide-field imaging devices often aids clinicians in accurately examining the retina. These advantages of standalone devices are expected to drive their sales.
By end users, the hospital segment is anticipated to hold the maximum share of 40.2% in 2021. Demand from hospitals will continue rising at a high pace during the forecast period.
Increasing demand in hospitals can be attributed to a higher emphasis on the adoption of advanced and state-of-the-art medical care approaches. While mature markets will continue dominating demand via hospitals, the healthcare sector in emerging economies is catching up as well.
Government incentives to offer improved cost-effectiveness for different treatment and diagnostic administrations have encouraged more individuals to seek a diagnosis as well as treatment from hospitals. This will continue fuelling demand from hospitals.
A large number of companies operate in the widefield imaging systems market, rendering it fragmented by nature. These players are often involved in strategic alliances. Besides this, they are focusing on product launches and acquisitions to consolidate market share.
For instance:
| Attributes | Details |
|---|---|
| Estimated Market Size in 2023 | USD 0.6 billion |
| Projected Market Valuation in 2033 | USD 1.4 billion |
| Value-based CAGR 2023 to 2033 | 8.6% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value in USD billion |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
| Key Market Segments Covered | Component, Indication, Modality, End User, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Heidelberg Engineering GmbH; Visunex Medical Systems, Inc.; Carl Zeiss Meditec AG; Clarity Medical Systems, Inc.; Optos plc.; Centervue S.p.A |
As of 2023, the market for widefield imaging system is expected to be valued at USD 0.6 billion, as per FMI
By 2033, the market value of widefield imaging system is expected to reach USD 1.4 billion
From 2023 to 2033, widefield imaging system sales are expected to flourish at a CAGR of 8.6%
The instrument segment to account for a market share of 83.5% in 2022.
The United States is likely to be the top-performing market, with value share of 90.3% in 2022.
| Estimated Size, 2024 | USD 976.8 million |
|---|---|
| Projected Size, 2034 | USD 1,561.0 million |
| Value-based CAGR (2024 to 2034) | 4.8% |
| Market Size (2024E) | USD 17,271.8 million |
|---|---|
| Market Value (2034F) | USD 25,876.4 million |
| Value-based CAGR (2024 to 2034) | 4.7% |
| Estimated Market Size (2024E) | USD 1,465.4 million |
|---|---|
| Projected Industry Value (2034F) | USD 2,319.6 million |
| Value-based CAGR (2024 to 2034) | 4.7% |
| Estimated Market Value (2022) | USD 1.18 billion |
|---|---|
| Projected Market Value (2032) | USD 2.41 billion |
| Value-based CAGR of (2022 to 2032) | 8.0% |
Explore Diagnostic Devices Insights
View Reports
Widefield Imaging Systems Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
