Fundus Camera Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029

Industry Outlook

The global fundus camera market held US$ 521.0 Mn in 2020 and expected to grow at compound annual growth rate (CAGR) of 6.3% during the forecast period from 2021 to 2029. Fundus camera is used for determining the structural documentation of the retina, which can be photographed directly as the pupil is used as both entrance and exit for the fundus camera's illuminating and imaging light rays. Ophthalmologist use the fundus camera to determine the etiology in the disease such as diabetic retinopathy, neoplasm of the choroid, cranial nerves and retina. Fundus camera provide real time images of the retina which acts as the major advantage in comparison to ophthalmoscopes. Growing prevalence of eye disorders and diabetes is the major driving factor for the growth of the market. According to the International Diabetes Federation 2020 report, the number of people suffering with diabetes were 425 million with one third of the diabetic patients were suffering with diabetic retinopathy. Moreover, it is estimated that number of people in the U.S. with cataract is expected to double from 24.4 million to about 50 million by 2050. According to the World Health Organization survey, age is the key factor for developing AMD with the occurrence increasing form 2% for those ages of 50 to 59 years to 30% by the age of 75 years. There has been massive technological drift in the last two decades in the ophthalmology industry both in terms surgical and diagnosis devices. Many key ophthalmology devices manufacturers are emphasizing on research and development of novel techniques in order to cater the needs of the patients more precisely which would further drive the global fundus camera market during the forecast period.

Technological Developments and Product Launches to Drive Non-mydriatric Fundus Camera Market

In 2020, non-mydriatric fundus camera held the largest share in the global fundus camera market owing to large number of products available in the market and its ability to screen glaucoma patients with light sensitivity. Carl Zeiss Meditec AG (VISUCAM PRO NM) and Kowa Optimed (non-mydiatric Alpha-D digital fundus camera) are few major players in fundus camera market. Mydriatric fundus camera held the second largest share in the market. The most significant disadvantage of mydriatric fundus is that it cannot be used on glaucoma and photosensitive patients. Hydrid fundus camera is projected to grow at fastest growth rate owing to combination of both technologies. Market participants are engaging in launch of hybrid fundus camera, making it the most lucrative product segment.

North America Dominated the Global Fundus Camera Market

In 2020, North America held the largest share in the global fundus camera market owing to growing awareness and prevalence of eye disorders. Factors such as growing incidence of degenerative diseases of eyes, aging baby boomer population, and increase in R&D activities in ophthalmology further drives the market. According to National Eye Institute (NEI) a part of NIH (National Institutes of Health) currently, 2.7 million Americans have glaucoma and it is estimated that 4.3 million will have glaucoma by 2030; 24 million Americans are affected by cataract; an estimated 38.7 million will be affected by cataract by 2030. Asia Pacific is expected to grow at fastest growth rate during the forecast period due to improving economic condition, rising healthcare awareness, and augmented investments made by key manufacturers in these emerging markets.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments calculated for the forecast period from 2021 to 2029.

Market is studied in order to understand the current dynamics and future trends in the global fundus camera market. The study includes market size and forecast for all considered segments presented in the report for the period from 2019 to 2029, along with respective compound annual growth rate (CAGRs) for the forecast period from 2021 to 2029, considering 2020 as the base year. The key players currently engaged in fundus camera market include Carl Zeiss Meditec, Inc., Optomed Oy, Kowa Company Ltd., Topcon Corporation, NIDEK Co., Ltd., Optovue Incorporated, CenterVue SpA, Clarity Medical Systems, Canon, Inc. among others. The market players are engaged in mergers and acquisition to strengthen geographic presence and enhance their distribution channel. For instance, Topcon Corporation India based acquired Mehra Eyetech a leading distributor of ophthalmic medical equipment in India.

Key questions answered in this report

• How the global fundus camera market will perform during the forecast period from 2021 to 2029?
• What are the latest trends in the fundus camera market and valuable opportunities for key players?
• Who are the leading players in the global fundus camera market?
• Which is the leading/and fastest region in the global fundus camera market?
• What are drivers and restrains governing the global fundus camera market?
• What is the epidemiology of different eye disorders globally?

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