Fundus Cameras Market Size, Share & Trends Analysis Report 2021-2028
Fundus Cameras Industry Overview
The global fundus cameras market size was valued at USD 303.2 million in 2020 and is expected to expand at a CAGR of 5.8% from 2021 to 2028. The increasing geriatric population and chronic disorders, such as diabetes and hypertension, are responsible for the growth in the incidence of retinal disorders. Key retinal disorders include Diabetic Retinopathy (DR), Age-related Macular Degeneration (AMD), and Retinopathy of Prematurity (ROP). Furthermore, increasing awareness about eye disorders and the commercialization of several technologically advanced products are likely to propel the market during the forecast period.
Diabetic eye diseases consist of a group of several eye conditions that include DR, diabetic macular edema, glaucoma, and cataract. According to the National Eye Institute (NEI), the U.S., the diabetic retinopathy patients in America are expected to double from 7.7 million in 2010 to 14.6 million in 2050. In addition, advancements in the field are expected to drive the market during the forecast period. COVID-19 has negatively impacted the market as the data captured during the pandemic was not accurate and sufficient to determine the eye problem. Lack of data limited the tracing of disease, its management, and treatment. However, handheld fundus cameras can be a useful option in this pandemic, as their portability will help in capturing the retinal changes in COVID patients present in different settings or locations.
Gather more insights about the market drivers, restrains and growth of the Global Fundus Cameras market
Advancements from the digital camera, red-free fundus camera, film-based fundus camera to the development of other for clear and in-depth fundus imaging along with the growing adoption of these new technologies in emerging countries are anticipated to drive the market during the forecast period. Moreover, supportive government regulations are also expected to contribute to market growth. According to the laws and regulations of medical device agencies in the U.S. and Japan, the fundus imaging cameras must be replaced once in every 4 years. This law helps maintain the quality of instruments and, thereby, improves diagnosis and treatment. Hence, the law is likely to maintain the demand for devices in countries and boost the market.
However, factors such as pricing pressure and competition from other developed technologies are expected to hinder market growth. Optical Coherence Tomography (OCT), is an advanced technology developed for retinal reimaging. The technology provides detailed images of the retina and optic nerve, which are viewable in 2D and 3D formats. Furthermore, swept-source OCT is the latest generation of Fourier domain OCT technology. Advantages associated with swept-source OCT are better sensitivity and faster speed than OCT.
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Fundus Cameras Market Segmentation
Grand View Research has segmented the global fundus cameras market based on product, end-use, and region:
Fundus Cameras Product Outlook (Revenue, USD Million, 2016 - 2028)
- Mydriatic Fundus Cameras
- Tabletop
- Handheld
- Non-Mydriatic Fundus Cameras
- Tabletop
- Handheld
- Hybrid Fundus Cameras
- ROP Fundus Cameras
Fundus Cameras End-use Outlook (Revenue, USD Million, 2016 - 2028)
- Hospitals
- Ophthalmology Clinics
- Ophthalmic & Optometrist Offices
Regional Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- December 2016: 51.0% shares of Mehra Eyetech Private Limited, an Indian based company was acquired by Topcon Corporation. The company distributes ophthalmic devices by Topcon in India. This acquisition is expected to strengthen the position of Topcon in the Indian market.
- June 2016: Optomed Oy (Ltd.) and Essilor GmbH entered into a distribution agreement of ophthalmic products in Germany. Such strategic initiatives by the market players are expected to drive the market during the forecast period.
Key Companies profiled:
Some prominent players in the global Fundus Cameras market include
- Carl Zeiss Meditec, Inc.
- Kowa Company Ltd.
- Optomed Oy (Ltd.)
- Optovue, Incorporated
- CenterVue SpA
- NIDEK Co., Ltd.
- Topcon Medical Systems, Inc.
- Clarity Medical Systems, Inc.
- Canon, Inc.
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