High Prevalence of Retinal Disorders is increasing the Growth Opportunities of Global Fundus Cameras Market Worldwide
Decision Databases.com adds “Global Fundus Cameras Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast” to its research database. In this report, the global fundus cameras market size was valued at USD 376.4 million in 2016 and is projected to grow at a CAGR of 7.6% over the next six years. A fundus camera is a low power microscope with a camera attached on it and thus is used to diagnose various types of retinal disorders.
Advancement in technologies, greater prevalence of retinal disorders, rising geriatric population and growing occurrences of chronic disorders such as diabetes and hypertension are increasing the chances of retinal disorders globally. However, supportive government regulations for medical devices are anticipated to drive the market over the coming years. The high growth is attributed to rising incidence of Age-related Macular Degeneration (AMD), Diabetic Retinopathy (DR), and glaucoma. Digital camera, advancements from film-based fundus camera and red-free fundus camera were developed to get a clear image of fundus along with the growing acceptance of new technologies in emerging countries are further anticipated to drive the market during the forecast period.
The industry segments the market on the basis of products as Mydriatic Fundus Cameras (Tabletop, Handheld), Non-mydriatic Fundus Cameras (Tabletop, Handheld), Hybrid Fundus Cameras and ROP Fundus Cameras. Among the aforementioned segments, non-mydriatic fundus cameras segment is expected to maintain the highest share during the predicted period and this device can be used for screening of glaucoma patients and those sensitive to light. Hybrid fundus cameras segment consists of a group of technologies in a single device and so it is projected to grow at the highest rate during the forecast period .Mydriatic fundus camera accounted for the second largest share. Tabletop fundus camera has the capacity to produce a clear and in-depth fundus image and several commercialized products are available.
The report divides the market on the basis of end users into Hospitals, Ophthalmology Clinics and Ophthalmic & Optometrist Offices. As high reference is given to optometrists for primary eye care and well-equipped ophthalmic and optometrists’ offices are there in developed and emerging countries; ophthalmic & optometrist offices dominated the segment.
Regionally, the global fundus cameras market is segmented into North America, Europe, Asia Pacific and Rest of the World as per the report. North America accounted for the maximum market share in terms of revenue. The major factors responsible for the dominance of this region are increased healthcare expenditure, increasing awareness about eye disorders and government support for reimbursement & screening of devices. Asia Pacific is expected to be the most lucrative region in the coming years because of the availability of expert services and growing medical tourism. The main contributors in the Asia Pacific region are Singapore, China, India, Japan, and South Korea
. However, the major Japan-based players who have captured the market in the Asia Pacific region are Kowa Company, Ltd.; NIDEK Co., Ltd.; and Canon, Inc.
Some of the key players in the industry include Kowa Company Ltd., Optovue Incorporated, Carl Zeiss Meditec, Inc., CenterVue SpA, NIDEK Co., Ltd., Topcon Medical Systems, Inc., Optomed Oy (Ltd.), Clarity Medical Systems, Inc. and Canon, Inc.
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