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October 2024
The AI-powered retina image analysis market is rapidly advancing on a global scale, with expectations of accumulating hundreds of millions in revenue between 2024 and 2034. Market forecasts suggest robust development fueled by increased investments, innovation, and rising demand across various industries. The rising geriatric population, increasing prevalence of retinal diseases, and growing research & development drive the market.
Artificial intelligence (AI) has revolutionized numerous sectors, including healthcare. It can mimic cognitive functions such as learning and problem-solving by processing and recognizing patterns in large amounts. AI-powered retina image analysis leverages AI, machine learning, and deep learning algorithms to detect and diagnose retinal diseases such as glaucoma, diabetic retinopathy, age-related macular degeneration, and retinopathy of prematurity. These techniques are used to detect data from numerous imaging tools such as optical coherence tomography (OCT), OCT Angiography, fundus photography, fundus autofluorescence, etc.
The increasing incidences of retinal diseases due to the rising prevalence of diabetes and the geriatric population drive the market. Retinal diseases can cause visual impairment or blindness, necessitating early detection. The increasing demand for accurate and efficient detection boosts the market. Advancements in technology and growing research & development facilitate market growth.
Retinal diseases are a major cause of irreversible blindness among individuals. AI is a great fit for image analysis regarding pattern identification in retinal imaging modalities. Currently, researchers are investigating the reproducibility, sensitivity, accuracy, and precision of AI tools in retinal disease analysis comparable to ophthalmologists. Some have worked on classifying the different stages of diabetic retinopathy: microaneurysms, hemorrhages, exudates, blood vessel mapping, and the optic disc. AI can also be used to detect and monitor the progression of inherited retinal disorders such as Stargardt disease, retinitis pigmentosa, and Best disease over time. Additionally, researchers are developing novel AI tools for screening, diagnosing, and monitoring retinal diseases or other disorders such as chronic kidney disease or lung cancer. AI has been used to analyze the risk of such disorders by observing fundus retinal photographs of the patients. Such R&D activities govern novelty and more accurate analysis of several diseases, promoting the market.
The major challenge of AI-based retina image analysis includes breach of data privacy. AI techniques such as cloud-based services raise concerns about the leakage of patient privacy due to the unauthorized use of sensitive health information to train and validate the systems. Such security breaches might prevent patients from adapting to novel technologies and can result in serious legal complications. Other ethical complications that hinder market growth include informed consent and algorithmic bias.
North America dominated the AI-powered retina image analysis market in 2023. The rising incidences of retinal disorders, advanced healthcare infrastructure, technological advancements, and favorable reimbursement policies drive the market. The US FDA approvals for AI-based medical devices through a stringent regulatory process also augment the market. IDx-DR, a CNN for screening DR stages in adults aged 22, was the first AI-based medical device approved by the US FDA in 2018. In 2020, the US FDA approved the EyeArt system, an autonomous AI system, for detecting mtmDR. The rising demand for point-of-care diagnostics and state-of-the-art research & development activities boost the market. Additionally, government initiatives and public-private partnerships across the US and Canada to estimate the prevalence of eye disorders promote the market.
For instance,
The table below demonstrates the recent prevalence of several retinal disorders in the US. These disorders cause visual impairment and blindness if not diagnosed on time. Hence, the rising prevalence of these disorders increases the demand for AI-powered retina image analysis.
| Diseases | Year | Prevalence |
| Diabetic Retinopathy | 2021 | 9.6 million |
| Glaucoma | 2020 | 3 million |
| Age-related Macular Degeneration | 2019 | 19.8 million |
| Retinitis Pigmentosis | 2021 | 2 million |
| Retinopathy of Prematurity | - | 14,000-16,000 |
Asia-Pacific is anticipated to grow at the fastest rate in the AI-powered retina image analysis market during the forecast period. The rising geriatric population, increasing incidences of retinal disorders, growing healthcare infrastructure, and technological advancements drive the market. It has been reported that approximately 19.5 million individuals in China and 3 million individuals in Japan were suffering from diabetic retinopathy in 2022. Approximately 1.3 million people were reported to have glaucoma in China. India reported 11.9 million glaucoma cases, whereas the prevalence of age-related macular degeneration in people aged 50 years and above was estimated to be 22.3%. The prevalence of these disorders is due to the rising geriatric population in the region. Additionally, increasing investments and collaborations augment the market.
By type, the diabetic retinopathy detection segment led the AI-powered retina image analysis market in 2023. The rising prevalence of diabetes and increasing incidences of diabetic retinopathy drive the segment growth. According to the IDF Diabetes Atlas report, around 537 million people were living with diabetes in 2021. It is believed that over 50% of diabetic patients develop diabetic retinopathy. According to a 2022 report, one-third of people with diabetes have diabetic retinopathy. Several AI algorithms have been studied to assess diabetic retinopathy with high sensitivity and specificity. The glaucoma detection segment is estimated to grow at a significant rate during the forecast period. The rising incidence and severity of glaucoma, accounting for 80 million cases globally, boosts the segment growth.
By application, the ophthalmic clinics segment is expected to hold a notable share of the AI-powered retina image analysis market. Ophthalmic clinics provide advanced eye care and detection with specialized equipment and the presence of trained professionals. The growing number of patients in ophthalmic clinics due to increasing cases of retinal diseases and the adoption of technological advancements augment the segment growth. The hospital segment is projected to grow at a significant rate over the coming years. The demand for AI-powered retina image analysis is high due to the huge number of patients, favorable infrastructure, high capital investment, and trained professionals.
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