Fundus Camera Market Growth Rate Comparison by Product by Application in 2025

November 08 05:00 2018

Radiant Insights
This report also studies the global Fundus Camera market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels and distributors.

The global fundus camera market is anticipated to grow at steady CAGR over the forecast period (2017 to 2022), according to a report available on Radiant Insights, Inc. Growing need to diagnose various types of retinal disorders can boost demand for fundus cameras. Such cameras are expected to be a combination of low power microscope and high resolution camera. They are likely to be used areas such as external photograph, fundus imaging, paired optic disk images, and fluorescein angiography.

Rising cases of retinal diseases like age-related macular degeneration, diabetic retinopathy, retinal detachment, and glaucoma can stimulate market growth. Continual technological advancements in fundus camera in terms of resolution and portability can boost growth of market.

To cater to rising demand for fundus cameras, most companies are likely to invest in R&D activities to develop advanced products. For instance, Altris.AI (Altris, Inc) recently signed an agreement with Huvitz Co., Ltd., to develop customized deep learning solutions for detecting retinal diseases. Former company’s optical coherence tomography (OCT) and fundus algorithms are expected to be trained through anonymized OCT retinal scans and images collected in more than 12 years. At present, the solution is predicted to be available in mobile and web version and can detect more than 50 retinal conditions and diseases. In addition, the model is likely to offer high performance level with multi-disease classification accuracy of more than 96%.   

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The fundus camera market can be segregated on the basis of product, end-user, and region. Based on product, the market can be categorized into non-mydriatic fundus cameras, ROP fundus cameras, hybrid fundus cameras, mydriatic fundus cameras. Non-mydriatic fundus cameras dominated the market and accounted for highest market share in the past. Such cameras are expected to allow for imaging of optic nerve and retina without any pharmacologic dilation. In addition, the imaging is expected to be painless and can support early detection of serious eye health conditions.

However, introduction of advanced fundus cameras by leading manufacturing companies can gain traction among medical professionals over the forecast peirod. This, in turn, can augment demand for hybrid fundus cameras attributed to high performance over conventional fundus cameras in the forthcoming years.  

Based on end-user, the fundus camera market can be classified into ophthalmology clinics, ophthalmic & optometritic offices, hospitals, and others.

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Regional segmentation of the fundus camera market includes Europe, North America, Asia Pacific, South America, and Middle East & Africa (MEA). North America dominated the market and accounted for largest market share in the past. The region is anticipated to maintain its dominance over the forecast period. Increasing number of eye care clinics owing to rising cases of eye related disorders can stimulate regional growth. In addition, rising number of ophthalmologists can further drive market expansion.

Asia Pacific region is predicted to grow at highest CAGR during the forecast period. Presence of key companies offering advanced medical services can boost regional growth. In addition, rising medical tourism can further augment market expansion in the region.

In Europe, the fundus camera market is predicted to witness significant growth over the forecast period owing to rising number of geriatric population in the region. Old age people are likely to suffer from eye-related problems like glaucoma and macular degeneration. This, in turn, can augment demand for fundus cameras in the region. 

Some of the leading companies operating in the fundus camera market are Canon, Carl Zeiss Meditec, Topcon Medical Systems, Clarity Medical Systems, and NIDEK Co.

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