January 07, 2020
According to the latest research 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 (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Japan, China, India, Australia, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE), Application Potential, Competitive Market Share & Forecast, 2019 - 2025’ available with Market Study Report LLC, the global fundus cameras market is presumed to accumulate US $600 million by the year 2025.
According to the report, fundus cameras market growth is primarily catalyzed by the surging pervasiveness of ophthalmic disorders such as diabetic retinopathy, glaucoma, cataract, as well as other chronic eye diseases. Favorable compensation policies across developed economies for diagnosing fundus related disorders will accelerate market expansion over the future. Burgeoning healthcare expenditure together with research & development investments will significantly increase the industry size over 2019-2025.
Market analysts claim that increasing focus of market participants on developing technologically advanced products to upscale their present product portfolio will favor business outlook. Furthermore, an array of technologies have been launched such as painless diagnostics cameras and portable cameras, which are slated to promote the adoption of fundus cameras in the ophthalmic medical sector. However, the dearth of awareness regarding ophthalmic ailments and lack of appropriate diagnostics instruments in underdeveloped nations may deter market growth over the estimated duration.
With respect to end-user analysis, the ophthalmology clinics segment of fundus cameras market is projected to amass substantial gains and display a CAGR of over 4.5% during the estimated timeline. Increasing incidence rate of eye related medical conditions such as macular degeneration, diabetic retinopathy, and damage due to multiple sclerosis, will boost revenues for ophthalmic clinics thereby increasing the segmental growth.
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Speaking of the regional contribution, the findings of the report put forward that Europe fundus cameras market accounted for over 27 percent revenue share in the year 2018 and is anticipated to witness sizeable growth by the year 2025. Surging deployment of advanced medical tools for effective diagnosis and upbeat healthcare infrastructure will boost the regional participation. Likewise, increasing consciousness about retinal disorders across Europe along with high demand for cutting-edge fundus technology will spur regional market share.
Major contenders functioning in fundus cameras market include Kowa American Corporation, Optus, Revenio Group Oyj, Topcon Corporation, Canon U.S.A, Carl Zeiss Meditec, Forus Health, Remidio, OPTOMED LTD, and NIDEK CO., LTD among others.
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