Fundus Cameras Market to Reach Valuation of US$ 810.4 Mn by 2027, Says TMR

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Apr 11, 2022, 12:30 ET

Recognition of fundus photography as one of the indispensable ocular technologies for imaging of retina and sub retina for the diagnosis and monitor of several ocular disorders spells growth in fundus cameras market
Advent of hybrid cameras that can perform function of both mydriatic and non-mydriatic devices revolutionizes the fundus cameras market landscape

ALBANY, N.Y. , April 11, 2022 /PRNewswire/ -- The fundus camera market is projected to expand at a CAGR of 5.6% over the forecast period from 2021 to 2028. The high prevalence of common ocular disorders such as glaucoma and diabetic retinopathy that affect the quality of life of patients drives the growth of the fundus cameras market. Retinal detachment, age related macular degeneration, and glaucoma are classified as priority ocular disorders that impels demand for various ophthalmology platforms.

Fundus photography comprises one of the indispensable ocular technologies that facilitate imaging of retina and sub retina that covers the inner surface of the eye. Fundus cameras work on the principles of the fundus photography that enables the diagnosis and monitoring of several ocular disorders such as diabetic retinopathy, age-related macular degeneration, and glaucoma.

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In addition, paired optic disk images, fundus imaging, external photograph, and fluorescin angiography are some other application areas of fundus cameras.

Nonetheless, the scope of development of advanced products remains high in the fundus cameras market. The saturation of demand in the fundus cameras market due to technological obsolescence, especially that of mydriatic fundus cameras necessitates advent of novel products.

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Fundus Camera Market – Key Findings of Report

Growing elderly population susceptible to ophthalmic conditions, including ocular disorders creates demand for ophthalmology diagnostic devices. This further creates substantial demand for fundus cameras for this population group for the effective management of ophthalmic conditions.
High incidence of diabetes increases the risk of blindness and impaired vision the world over. According to statistics of the 10^th Edition of IDF Diabetes Atlas in 2021, approximately 537 million adults are living with diabetes. This number is projected to increase to 643 million by 2030 and 783 million by 2045. Complications in diabetes can lead to the development of ocular disorders such as diabetic retinopathy, which if not detected at an early stage can lead to permanent loss of vision. This creates ample opportunities in the fundus cameras market.
Advent of hybrid cameras has revolutionized the fundus cameras market landscape. Hybrid cameras can perform the function of both mydriasis and non-mydriasis cameras, thereby eliminating the need of two separate platforms. Besides this, hybrid cameras comprise both optical coherence tomography and fundus photography, and thus offers advantages as compared to individual type of fundus photography.
Hospitals end user segment held the leading share of the fundus camera market in 2020. However, the ophthalmic & optometrist office end user segment is anticipated to expand at a significant growth rate during the forecast period.
North America accounts for a significant share of the fundus cameras market. Factors such as increasing incidence of diabetic retinopathy, established modern healthcare infrastructure, and substantial demand for technically advanced ophthalmology platforms favors the growth of fundus cameras market in the region.

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Fundus Camera Market – Growth Drivers

Design functionality of fundus camera to produce fundus photographs to represent the current status of the retina for the detection of several retinal disorders fuels the growth of the fundus cameras market
High prevalence of ocular disorders among the growing geriatric population creates substantial demand for fundus cameras

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Fundus Camera Market – Key Players

Some of the key players operating in the fundus camera market are;

Topcon Corporation
Nidek Co. Ltd.
Icare Finland Oy
Carl Zeiss Meditec
Haag-Streit Holding AG
Canon Inc.
Epipole Ltd.
Kowa American Corporation
Optovue Incorporated
Optomed plc

The fundus cameras market is segmented as follows;

Fundus Camera Market, by Product Type

Mydriatic
Non-mydriatic
Hybrid
Retinopathy of Prematurity (ROP)

Fundus Camera Market, by Portability

Handheld
Table Top

Fundus Camera Market, by End-user

Hospitals
Ophthalmology Clinics
Ophthalmic & Optometrist Offices

Fundus Camera Market, by Region

North America

U.S.
Canada

Europe

U.K.
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific

China
Japan
Australia
India
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

South Africa
GCC Countries
Rest of Middle East & Africa

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