May 12, 2021
According to the research report titled ‘Fundus Cameras 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’, available with Market Study Report, fundus cameras market is anticipate to accumulate USD 600 million by the year 2025.
Increasing ophthalmic diseases like glaucoma, cataract, diabetic retinopathy, and other chronic eye disorders, coupled with favorable reimbursement policies for disease detection are catalyzing the growth of global fundus cameras market.
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Moreover, rising healthcare spending, in consort with significant attention among major players to launch hi-tech products while expanding their portfolio, and widespread adoption of painless diagnostic cameras as well as portable cameras are stimulating the growth of the market.
However, lack of cognizance of ophthalmic ailments, and inaccessibility to recommended diagnostic devices in emerging countries, in tandem with dearly cost of hybrid and ROP fundus camera will arrest the expansion matrix of the market.
As per the types concerned, fundus cameras market is segregated into hybrid fundus cameras, mydriatic fundus cameras, ROP fundus cameras, and nonmydriatic fundus cameras. The report cites that hybrid fundus cameras segment was estimated at USD 140 million in 2018 and is slated to grow decently over the forecast period, as the device enables the practitioner to capture a clear image. Meanwhile, tabletop non-mydriatic fundus cameras market segment is poised to grow through 2025, on account of patient-friendly nature of device.
Moving on to end-user scope, worldwide fundus cameras market share from ophthalmology clinics is anticipated to grow with a CAGR of 4.5% over 2019-2025. Factors like rising occurrence of eye infections, macular degeneration, multiple sclerosis damage, and diabetic retinopathy will impel patient visit to these facilities, thereby generating revenues.
From the regional point of view, Europe accounted for 27% revenue share in global fundus cameras industry in 2018 and is estimated to acquire a significant CAGR through 2025. Presence of proper healthcare infrastructure, increasing awareness about eye disorders, and adoption of advanced medical devices for effective diagnosis are favoring the regional market scenario.
Major contenders in fundus cameras market sphere are Forus Health Inc., Singtel Optus Pty Limited, Remidio Innovative Solutions Pvt. Ltd., Optomed Oyj, NIDEK Co. Ltd., Kowa American Corporation, Revenio Group Oyj, Topcon Corporation, Canon U.S.A Inc., and Carl Zeiss Meditec AG.