Increasing instances of chronic eye diseases like cataracts, glaucoma, diabetic retinopathy, among various other ophthalmic ailments will anchor the adoption of fundus cameras in the coming years.
Increasing instances of chronic eye diseases like cataracts, glaucoma, diabetic retinopathy, among various other ophthalmic ailments will anchor the adoption of fundus cameras in the coming years. Several reimbursement policies have been regulated across developed countries to accurately diagnose fundus related diseases. Also, the rising willingness of consumers to spend on healthcare has given rise to a significant number of R&D investments for innovations in the cameras.
There is a robust appeal by leading product manufacturers to come up with technically advanced cameras in order to enhance their current offerings. On account of this, various cutting-edge technologies are incorporated in portable as well as painless diagnostics cameras. This factor has added positive impetus to the penetration of fundus devices across the ophthalmic clinics.
As per a research report compiled by Global Market Insights, Inc., the fundus cameras market size could reach an annual value of more than USD 600 million by 2025.
Preference for hybrid and nonmydriatic fundus cameras
Global revenue share from the hybrid fundus cameras market was estimated at USD 140 million in 2018 and will witness significant expansion over the next few years. This is because these digital cameras offer a platform to practitioners to capture clear images.
On the other hand, the demand for tabletop nonmydriatic fundus cameras will observe significant inclination on account of their growing preference and numerous advantages. These cameras offer more patient-friendly photography of the fundus as they eliminate the use of dilating drops and bright lights.
To access sample pages of this report titled, “Fundus Cameras Market Size By Product (Mydriatic Fundus Cameras [Tabletop, Handheld], Non-mydriatic Fundus Cameras [Tabletop, Handheld], Hybrid Fundus Cameras, ROP Fundus Cameras), By End-user (Hospitals, Ophthalmology clinics), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/4326
Ophthalmology clinics to record greater presence
Fundus camera uses across ophthalmology clinics is pegged to rise at a 4.5% CAGR through 2025 considering the jump in the number of patient visits across these facilities. This can be attributed to the increasing prevalence of eye health conditions like diabetic retinopathy, macular degeneration, and other damages resulting from multiple sclerosis.
Medical device advancements in Europe
The demand for fundus cameras market in the European region registered over 27% of the total revenue share in 2018 and is likely to gain traction up to 2025. This is owing to the higher penetration of advanced medical devices and the rise in well-established healthcare facilities across the region to offer an effective assessment of the optical issues.
The rising awareness pertaining to retinal disorders has paved the way for the incorporation of numerous cutting-edge technologies in the cameras. For instance, in November 2020, Finland-based Optomed unveiled Aurora IQ, a handheld fundus camera that is integrated with artificial intelligence to render faster eye screening for individuals.
Competitive and strategic alliances
Suppliers of various types of fundus cameras are focusing on strategies like collaborations acquisitions, mergers, as well as novel device developments to sustain competition while improving their economic position. For instance, in 2016, Indian medical device provider, Forus Health Private Limited introduced 3nethra NEO, for the effective and early diagnosis of retinopathy of prematurity (ROP), a global cause of blindness among children.
The present COVID-19 pandemic could have also positively influenced the demand for medical devices. Global Fundus cameras market players are Carl Zeiss Meditec, Topcon Corporation, Canon U.S.A, Revenio Group Oyj, Nidek CO., Kowa American Corporation, LTD, Remidio, Optomed LTD, and Optus.
However, the inadequacy of proper diagnostics tools across the underdeveloped regions along with the dearth of awareness regarding ophthalmic diseases could negatively hamper the Fundus Cameras market forecast. Higher fundus camera prices specifically related to ROP, and hybrid components may also negatively influence their demand and supply to a certain extent.
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