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Fundus camera captures the photographs of the back of the eye, which is called as fundus. In addition, fundus mainly consists of 10 semi-transparent layers that serve a specific function in the process of visual perception. The main structure that can be visualized on fundus camera is the central and peripheral retina, optic disc and macula. Fundus camera is used to diagnose various types of retinal disorders such as glaucoma, diabetic retinopathy, retinal detachment, and age-related macular degeneration.
The leading causes of vision impairment are uncorrected refractive errors and cataracts, and most people with vision impairment are over the age of 50 years. For instance, as per the Pacific Vision Foundation, in 2020, an estimated 21 million population in the U.S. were diagnosed with severe vision problems. Hence, the rising incidence of eye-related disorders is projecting a great impact on the growth of the market.
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Surge in prevalence of chronic eye diseases and favorable government regulations drive the growth of the global fundus camera market. However, high costs of initial investment and lack of awareness in low-income countries hinder the market growth. On the other hand, rise in strategic alliances and awareness regarding retinal disorders present new opportunities in the coming years.
The non-mydriatic fundus cameras segment to maintain its leadership status during the forecast period
Based on product, the non-mydriatic fundus cameras segment accounted for the largest share in 2020, contributing to around two-fifths of the global fundus camera market, and is projected to maintain its leadership status during the forecast period. This is attributed to the ability to view detailed retinal anatomy and improvement of the diagnosis and management of eye disorders along with advancements such as fluorescein imaging, mobility, and live-action systems. However, the hybrid fundus cameras segment is projected to portray the largest CAGR of 5.4% from 2021 to 2030. This is due to increased prevalence of chronic diseases, rise in awareness of early diagnosis, and a higher number of diagnostic procedures.
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The rise in eye diseases is the primary factor responsible for fundus camera market growth. For instance, according to the World Glaucoma Association, based on prevalence studies, it was estimated that around 79.6 million individuals will have glaucoma in 2020. This number is expected to increase to 111.8 million individuals by 2040. Meanwhile, according to the Center for Disease Control and Prevention, in 2020, it was reported that around 3 million Americans were diagnosed with glaucoma. In addition, the role of government initiatives in providing affordable fundus camera is driving the market growth. In the U.S., Medicare offers glaucoma screening, ocular prosthesis, and cataract surgery.
Key Benefits For Stakeholders:
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 2021 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.
Leading market players:
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.
Topcon Corporation
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