Retinal Imaging Market Trend- Increasing Awareness About Early Diagnosis and Treatment
Rising prevalence of various retinal disorders, increasing elderly population, and high chances of vision loss due to eye diseases are some key factors expected to drive global Retinal Imaging market growth.
Over the recent years, there has been a rapid increase in prevalence of retinal disorders and cases of vision loss due to comorbidities. Retinal imaging is an effective way of assessing health of the eye and underlining conditions. It is a non-invasive and safe method used by optometrists for observing health of the eye. These systems are equipped with high-resolution cameras for capturing digital pictures of optical disks, retina, and blood vessels of the eye.
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Factors such as rising incidence of retinal diseases such as glaucoma, macular degeneration, diabetic retinopathy, conjunctivitis, and cataract, growing adoption of advanced diagnostics and imaging modalities across hospitals, clinics, ophthalmic centers, ambulatory surgical centers, and rising investments for developing advanced imaging products are expected to drive global market revenue growth during the forecast period.
However, high costs of certain retinal imaging modalities, lack of skilled healthcare professionals and technicians for operating the complex systems, and insufficient funds to deploy the latest imaging modalities are some key factors that can hamper market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Fundus Camera Segment to Account for Largest Revenue Share:
The fundus camera segment is expected to account for largest revenue share between 2020 and 2027 owing to rising prevalence of various retinal diseases, high demand for fundus cameras due to its benefits such as precision and portability, and rapid advancements in fundus camera technology.
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Ophthalmic Centers Segment To Register Significant Revenue CAGR:
The ophthalmic centers segment is expected to register significant revenue CAGR during the forecast period owing to large patient pool, steady increase in the number of ophthalmic centers across the globe, and rapid adoption of advanced retinal imaging modalities in many ophthalmic centers.
North America to Lead In Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share over the forecast period owing to increasing prevalence of eye diseases, rising availability of advanced retinal imaging technology, and presence of well-established healthcare infrastructure and facilities. In addition, presence of leading companies, rising awareness about early diagnosis, increasing geriatric population, and high focus on developing advanced imaging solutions are expected to fuel North America market growth during the forecast period.
Major Companies in the Market Include:
- Robert Bosch GmbH
- Eyenuk, Inc.
- Imagine Eyes
- Optos, Plc.
- Forus Health Pvt. Ltd.
- Phoenix Technology Group, Inc.
- Topcon Corporation
- NIDEK Co. Ltd.
- Epipole, Ltd.
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For the purpose of this report, Emergen Research has segmented the global molecular imaging market on the basis of product type, application, end-users, and region:
Device Type Outlook (Revenue, USD Billion; 2017–2027)
- Fundus Camera
- Fluorescein Angiography
- Optical Coherence Tomography (OCT))
End-user Outlook (Revenue, USD Billion; 2017–2027)
- Ophthalmic Centers
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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