Fundus Cameras Market Size by Product (Mydriatic Fundus Cameras, Non-Mydriatic Fundus Cameras, Hybrid Fundus Cameras), By End-use (Hospitals, Ophthalmology Clinics) & Forecast, 2023 – 2032.

Fundus Cameras Market Size

Fundus Cameras Market size was valued at over USD 624 million in 2022 and is poised to grow at over 3% CAGR from 2023 to 2032 driven by the high prevalence of eye disorders worldwide.

Fundus cameras are gaining traction driven by the growing need for early detection, precise diagnosis, and efficient management of various eye disorders. According to the WHO, around 285 million individuals worldwide suffer from age-related macular degeneration Furthermore, the increased frequency of diabetes, and diabetic retinopathy have spurred the higher need for various treatment techniques. The IDF Diabetes Atlas 2022 estimated that diabetes affects 77 million Indians and is expected to rise to 125 million by 2045. Hence, the higher demand for screening and treatment of diabetic retinopathy and AMD management will support the market progress.

The high price of fundus cameras may have an adverse effect on the market expansion. The typical price of fundus cameras is about USD 10,000, but it can reach up to USD $50,000 depending on the device model. Companies, such as Topcon and Carl Zeiss have spent heavily on operational and R&D activities to introduce technologically superior products, adding to the increased product costs.

COVID-19 Impact

The COVID-19 pandemic had negative influence on the fundus cameras market growth in 2020 due to the disrupted supply chains that affected the production and delivery of medical equipment, particularly fundus cameras. Several manufacturers had difficulties procuring components and meeting the customer demand, potentially leading to product delivery delays.  Furthermore, the rising perceptions among patients of the importance of eye ailments, fear of acquiring the infection from hospitals, and travel limitations restricted simple access to eye care services. For example, during the pandemic, there was a 79% decline in patient volume at eyecare institutions in the U.S., further limiting industry landscape.

Fundus Cameras Market Trends

The ongoing technological improvements in image resolution, allowing for more detailed and clearer images of the retina will play a crucial role in the market growth. The rising advancements in widefield imaging technology are enabling the visualization of larger areas of the retina in a single shot as compared to traditional technologies. Furthermore, healthcare institutions, together with significant industry participants, are taking initiatives to provide top-notch eye screening and treatment using novel solutions. To cite an instance, on World Sight Day in October 2022, Samsung's Galaxy Upcycling program established a goal of screening 150,000 people in India suffering from eye conditions with its EYELIKETM Fundus Camera by 2023. Such favorable trends will positively influence the industry outlook.

Fundus Cameras Market Analysis

Non-mydriatic fundus cameras market accounted for around 58% of revenue share in 2022 and is expected to witness notable demand from 2023-2032. Non-mydriatic fundus cameras provide retinal imaging without requiring pupil dilation to offer enhanced patient-friendly and time-efficient advantages. These cameras have grown in popularity in clinical settings as well as distant teleophthalmology services for more extensive access to retinal screening. The increasing use of these devices in eye care facilities as well as the higher emphasis on preventative eye health will drive the market expansion.

Fundus cameras market from the ophthalmology clinics segment amassed substantial revenue in 2022 and is estimated to reach over USD 494 million by 2032. Ophthalmology diagnostics clinics are increasingly adopting fundus cameras to offer non-invasive and efficient retinal imaging capabilities. These devices enable early detection and monitoring of various eye conditions, including diabetic retinopathy, glaucoma, and macular degeneration, enhancing patient care and treatment outcomes. The rising prevalence of eye diseases coupled with the growing technological advancements will also fuel the market growth.

North America fundus cameras market generated more than USD 260 million in revenue in 2022 and may acquire dominant share by 2032. The well-established healthcare infrastructure and the high frequency of age-related eye issues in the region are contributing to the market growth. According to CDC 2022 estimates, roughly 12 million individuals aged 40 and above in the U.S. suffer vision impairment. Rising advances in ophthalmic technology as well as the strong existence of prominent manufacturers investing in significant R&D efforts will also boost the regional market outlook.

Fundus Cameras Market Share

The competitive landscape of the fundus camera market includes leading companies such as:

• Revenio Group Oyj
• Canon U.S.A.
• Samsung Electronics
• TOPCON CORPORATION
• Carl Zeiss Meditec AG
• NIDEK CO., LTD
• Kowa American Corporation
   

Fundus Cameras Industry News

• In May 2023, Thirona Retina, an AI-aided retinal image processing leader, entered an agreement with Optomed to distribute the latter’s Aurora portable fundus camera with its AI technology across several Asian, Middle Eastern, and European nations.
   

Fundus cameras market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in (USD) and volume (units) from 2018 to 2032, for the following segments:

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By Product, 2018 - 2032 (USD Million & Units)

• Mydriatic fundus cameras
  • Tabletop
  • Handheld
• Non-mydriatic fundus cameras
  •  Tabletop
  • Handheld
• Hybrid fundus cameras

By End-use, 2018 - 2032 (USD Million)

• Hospitals
• Ophthalmology Clinics
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Sweden
  • The Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Philippines
  • Vietnam
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Columbia
  • Peru
  • Chile
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Turkey
  • Israel
  • Iran