The global Retinal Imaging Devices Market Growth Accelerated by Increased Adoption of Artificial Intelligence

 

Retinal imaging devices are designed for non-invasive retinal examination and screening of eye diseases such as glaucoma, diabetic retinopathy, and age-related macular degeneration. Retinal imaging allows optometrists and ophthalmologists to obtain high resolution images of the retina without any contact and provides benefits such as early detection of eye diseases and ease of use. The global Retinal Imaging Devices Market is estimated to be valued at US$ 2.52 Bn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased adoption of artificial intelligence has accelerated the growth of the retinal imaging devices market. AI helps in automating retinal image analysis which reduces errors caused by manual grading and provides objective results. AI technologies have been introduced by many retinal imaging device manufacturers to help detect eye diseases such as diabetic retinopathy and age-related macular degeneration in early stages with high accuracy. For instance, Optos' AI software called Optos DeepView uses deep learning algorithms to analyze retinal images and help clinicians detect early signs of eye diseases. The integration of AI is expected to make retinal screening more efficient, reduce workloads of clinicians and improve patient care outcomes going forward.
Segment Analysis

The global retinal imaging devices market is dominated by the optical coherence tomography (OCT) sub segment. OCT devices are witnessing high demand owing to their ability to capture high resolution cross-sectional images of the retina. They provide detailed visualization of the internal layers and structures of the retina. OCT devices help clinicians in early detection of retinal diseases like age-related macular degeneration and glaucoma. This has resulted in OCT emerging as a primary diagnostic tool for retinal disorders.

Key Takeaways

The global retinal imaging devices market is expected to witness high growth over the forecast period of 2023 to 2030 supported by increasing prevalence of retinal disorders and growing aging population. The market size is projected to reach US$ 2.52 Billion by 2023.

Regional analysis

North America region currently dominates the global retinal imaging devices market and is expected to maintain its leading position over the forecast period. This can be attributed to growing geriatric population, rising incidence of retinal diseases, and presence of advanced healthcare infrastructure in the region. According to statistics, over 10 million people are affected by age-related macular degeneration in the US.

Key players

Key players operating in the retinal imaging devices market are Carl Zeiss Meditec AG, Topcon Corporation, NIDEK Co. Ltd., Optos plc, CenterVue SpA, Forus Health Pvt Ltd., Eyenuk Inc., Imagine Eyes, Clarity Medical Systems Inc., and Optomed Plc.

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