Fundus Camera Market worth over $600mn by 2025
Published Date: September 4, 2019 Authors: Sumant Ugalmugle
Fundus Camera Market size is set to surpass USD 600 million by 2025, according to a new research report by Global Market Insights.
The demand for technically advanced digital fundus cameras that are painless and provide a clear image of the eye is growing globally. Latest fundus cameras are designed to provide painless detection and provides a clearer image of part of the eye. Technologically advanced fundus cameras are automated in nature and easy to handle, they also enhance the ability of physician to sight the retina in detail, and hence the demand for such cameras should grow rapidly over the coming years. Moreover, the prevalence of ocular diseases is growing rapidly, which is expected to increase the demand for technically advanced retinal cameras.
The numerous initiatives taken by government to provide affordable fundus cameras is anticipated to drive the market expansion. Moreover, the rising number of new product launches in the U.S. has led to the acceptance of enhanced technologies by ophthalmologists. The growing number of new products launches should stimulate the market size. However, the high cost of fundus cameras and less awareness in the developing region might restrict the market growth
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Non-mydriatic fundus camera market is estimated to witness growth of 5% during the forecast period. Advancements in non-mydriatic cameras coupled with clear imaging favor the growth of the segment. The handheld non-mydriatic fundus cameras are estimated to value over USD 30 million in 2018. The handheld cameras are light in weight, portable, and their compact designs allow wireless flexibility and simple retinal imaging. These cameras provide operational ease that should increase their adoption.
Browse key industry insights spread across 160 pages with 197 market data tables & 8 figures & charts from the report, “Fundus Camera Market Size By Product (Mydriatic Fundus Cameras [Tabletop, Handheld], Non-mydriatic Fundus Cameras [Tabletop, Handheld], Hybrid Fundus Cameras, ROP Fundus Cameras), By End-user (Hospitals, Ophthalmology clinics), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Hospital segment accounted for about 20% market share in 2018. The presence of large number of hospitals, growing number of multispecialty hospitals, and increasing ophthalmic surgeries favors segment growth. According to Laser Eye Surgery Hub, every year about 330,000 cataract operations are performed in England alone. The growing prevalence of severe eye diseases lead to surgical procedures, the fundus cameras helps to detect the disease at early stage, and this should enhance their adoption.
The Asia Pacific fundus camera market revenue crossed USD 120 million in 2018. Rising prevalence of eye diseases along with growing healthcare spending for effective eye health should foster the regional market size expansion. Additionally, rising awareness about the ophthalmic disorders, growing government support are some of the other prominent factors contributing to the growth of the APAC market.
Prominent players operational in the market include Carl Zeiss Meditec, Canon U.S.A, Topcon Corporation, Revenio Group Oyj, Kowa American Corporation, NIDEK CO., LTD, OPTOMED LTD, Remidio, Optus, and Forus Health.