Fundus Camera Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Key Highlights

• The fundus camera market studied is anticipated to grow with a CAGR of nearly 6.7%, during the forecast period. Certain factors that are driving the market growth include rise in eye-related disorders and increase in supportive government regulations.
• In many developed and developing nations, eye disorders have emerged as potential threats to the status of sight of their people. The significant rise in the prevalence of diabetes in various countries has led to diabetic retinopathy being added to the priority list.
• According to the WHO, in 2018, it was estimated that approximately 1.3 billion people were living with some form of vision impairment, 188.5 million people had mild vision impairment, 217 million had moderate to severe vision impairment, and 36 million people are blind.
• Across the globe, the leading causes of vision impairment are uncorrected refractive errors and cataracts, and most people with vision impairment are over the age of 50 years. As per the WHO, chronic eye diseases are the number one cause of vision loss, with the top two causes being unoperated cataracts and uncorrected refractive errors. Hence, the rising incidence of eye-related disorders is projecting a great impact on the growth of market studied.

Key Market Trends

Nonmydriatic Fundus Cameras Show Lucrative Growth Opportunities in the Global Fundus Camera Market

• A non-mydriatic fundus camera makes use of the retina’s reflective properties in order to show details and store images which are superior to slit lamps and other frequently-used tools. It does not require pupil dilation in the majority of cases, and is painless for patients.
• These provide early detection and monitoring of a number of serious eye health related conditions, such as macular degeneration, high blood pressure, glaucoma, damage resulted by multiple sclerosis, and diabetic retinopathy.
• Such camera offers images which visually add to ophthalmologist notes, and creates a fuller picture of eye health that can be shared with other physicians effortlessly in the collaborative management of patient health. This type of camera is easy to operate with little training required and also offers a wide angle of the targeted retina.
• Owing to all the afore-mentioned advantages, the non-mydriatic fundus camera is expected to observe a significant rise in its demand globally, over the forecast period.

North America Dominates the Global Fundus Camera Market

• Over the past decade, the prevalence of diabetes in North America has increased significantly. People having diabetes are at a much higher risk for diabetic retinopathy than those non-diabetic.
• According to the American Society of Retina Specialists (ASRS), diabetic retinopathy is the leading cause of new cases of blindness among adults aged 20 to 74 years in the United States.
• Furthermore, more than 100 million U.S. adults are now living with diabetes or prediabetes, according to a new report published by the Centers for Disease Control and Prevention (CDC). The report also finds that as of 2015, 30.3 million Americans i.e. 9.4% of the US population have diabetes. Hence, all these factors are expected to contribute to market growth across the entire region.

Competitive Landscape

The global fundus camera market is competitive and consists of a few major players. Companies like Canon, Inc., Carl Zeiss Meditec, Inc., CenterVue SpA, Epipole Ltd., Kowa Company Ltd., NIDEK Co., Ltd., Optomed Oy Ltd., Optovue, Inc., Topcon Medical Systems, Inc., among others, hold the substantial market share in the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support