U.S. Fundus Camera Market worth $ 191.80 Mn by 2030 at a CAGR of 4.9%

According to Nova one advisor, the U.S. Fundus Camera market size was valued at US$ 130.16 Million in 2021 and is expected to hit US$ 191.80 Million by 2030, growing at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030.

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Key Takeaways:

• The report provides an in-depth analysis of the U.S. fundus camera market size along with the current trends and future estimations to elucidate the imminent investment pockets.
• It offers market analysis from 2022 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
• A comprehensive analysis of the region assists to understand the regional market and facilitate strategic business planning and determine prevailing opportunities.
• The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the U.S. fundus camera market growth.

Growth Factors:

 A fundus camera or retinal camera is a specialized low power microscope with an attached camera designed to photograph the interior surface of the eye, including the retina, retinal vasculature, optic disc, macula, and posterior pole. 

The growth of the U.S. fundus camera market is majorly driven by increase in prevalence of chronic diseases such as diabetes & hypertension, and incidences of retinal disorders such as macular hole and retinal detachment. The diabetes is responsible for diabetic retinopathy. For instance, according to the International Diabetes Federation (IDF), it was reported that approximately 537 million adults (20-79 years age) are living with diabetes. As per the same source, it was also reported that total number of population living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Thus, increase in prevalence of diabetic retinopathy in population contributes in the growth of the market.

Furthermore, increase in geriatric population contributes toward growth of the market. The geriatric population is more prone to eye disorders such as age-related macular degeneration (AMD). For instance, according to Bright Focus Foundation, in 2020, about 11 million population in the U.S. are diagnosed with age-related macular degeneration and this number is expected to double to nearly 22 million by 2050. 

In addition, increase in prevalence of eye disorders such as glaucoma, macular hole, macular degeneration and retinal detachment drives the growth of the market. For instance, according to the Bright Focus Foundation, in 2020, it was analyzed that more than 3 million Americans are living with glaucoma, and 2.7 million of whom aged 40 and older are affected by open-angle glaucoma.

Furthermore, rise in awareness about eye disorders and rise in number of working ophthalmologists drive the growth of market. For instance, as per the U.S. Bureau of Labor Statistics (BLS), in 2020, there were 36,690 optometrists working in the U.S. Thus, availability of ophthalmologists, surges the demand for fundus camera and drives the growth of the market.
  
Moreover, incidences of retinopathy in children and retinopathy of Prematurity (ROP contributes toward the growth of the U.S. fundus camera market. According to the Journal of American Association Pediatric Ophthalmology and Strabismus (AAPOS), in April 2020, it was analyzed that approximately 3.9 million infants are born in the U.S. each year. As per the same source, it was estimated that about 14,000 are affected by ROP and 90% of those affected have only mild disease and about 1,100- 1,500 develop disease severe enough to require medical treatment. Therefore, it will increase the demand for fundus camera and further boost the U.S. fundus camera market growth.

In addition, increase in government initiatives and cost effective surgical procedures drives the demand of fundus camera. According to the Healio, in February 2021, approximately 4 million cataract procedures are performed every year in the U.S.

Furthermore, advancements in fundus camera devices and latest product launches in the market by key players contribute in the growth of the market. For instance, in November 2020, Optomed, a medical technology company and one of the leading providers of handheld fundus cameras, launched Aurora IQ, a handheld fundus camera with integrated artificial intelligence for faster eye screening.

Report Scope of the U.S. Fundus Camera Market

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 U.S. Fundus Camera Market Segmentation

The U.S. fundus camera market is segmented on the basis of product, portability, and end user. By product, the market is categorized into mydriatic fundus cameras, non-mydriatic fundus cameras, hybrid fundus cameras, and ROP fundus cameras. By portability, the market is bifurcated into handheld and tabletop. By end user, it is divided into hospital, ophthalmology clinics, and others.

Segment Review

Depending on product, the non-mydriatic cameras segment dominated the market in 2021, and this trend is expected to continue during the forecast period, due to increase in demand for non-mydriatic camera. Increase in ability of non-mydriatic cameras to view detailed retinal anatomy, further improves the diagnosis and management of eye disorders, and surge the growth of the U.S. fundus camera market. 

Based on portability, the tabletop segment dominated the market in 2021 and this trend is expected to continue during the forecast period, due to increase in advantages of tabletop cameras. However, the handheld segment is expected to witness considerable growth during the forecast period, due to advancements in technology in development of advanced handheld camera, and increase in number of key player to manufacture handheld camera. 

By end user, the hospitals segment led the market in 2021, and is anticipated to maintain its lead during the forecast period, owing to rise in prevalence of diabetes, due to increased acceptance by optometrists for primary eye care, and attendance of well-equipped hospitals. However, ophthalmology clinics is expected to witness considerable growth during the forecast period, due to an increase in the number of ophthalmology clinics and prevalence of retinal disorders.

The key players operating in the U.S. fundus camera market include: Bosch group, Canon Inc., Carl Zeiss Meditec Inc., Kowa Company, Ltd., Nidek Co., Ltd., Optomed OY Ltd., Optovue Incorporated, Revenio Group Corporation, Samsung Electronics Co. Ltd., and Topcon Corporation.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030

• By Product
  • Mydriatic Fundus Cameras,
  • Non-Mydriatic Fundus Cameras
  • Hybrid Fundus Cameras
  • ROP Fundus Cameras.
• By Portability
  • Handheld
  • Tabletop
• By End User
  • Hospital
  • Ophthalmology Clinics
  • Others

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Key Questions Answered in U.S. Fundus Camera Market Report

• What will be the sales/revenue generated by U.S. Fundus Camera across all regions during the forecast period?
• What are the opportunities in the U.S. Fundus Camera market?
• What are the major drivers, restraints, opportunities, and threats in the market?
• Which regional market is set to expand at the fastest CAGR during the forecast period?
• Which application is expected to generate the highest revenue U.S. in 2030?
• Which segment is projected to expand at the highest CAGR during the forecast period?
• What is the market position of different companies operating in the U.S. market?

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