Fundus Camera Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Fundus Camera Market is segmented by Product Type (Mydriatic Fundus Cameras, Nonmydriatic Fundus Cameras, Hybrid Fundus Cameras, and Others), End User (Hospitals, Specialty Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The report offers the value (in USD million) for the above segments.

Market Snapshot

 Market Snapshot
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6.7 %

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Market Overview

The fundus camera market is expected to register a CAGR of 6.7% over the forecast period.

The outbreak of the COVID-19 pandemic has pushed the pharmaceutical industry into action, with a race to develop both therapeutic and preventive drugs. Exponentially increasing cases of the coronavirus worldwide are leading to the need for the development of novel treatments, with several clinical trials underway. Meanwhile, the manufacturers of medical devices focused on developing biological vaccines and drugs, which can also be applied in the diagnosis and treatment of COVID-19. The market witnessed moderate growth during the pandemic. The people who have suffered from COVID-19 have shown some ocular diseases post-recovery. For instance, as per the study titled, "Ophthalmic Manifestations Of Coronavirus (COVID-19)" published in May 2022, the prevalence of ocular manifestations in patients with COVID-19 ranged from 2.0% to 32.0%. It also stated that Conjunctivitis or lacrimation may be the first and even the only manifestation in a patient with a COVID-19 infection. Furthermore, several ocular manifestations of COVID-19 have been observed, including retinovascular disease, uveitis, optic neuropathies, and orbital fungal coinfections. However, some routine eye check up schedule was cancelled and only emergency cases were taken up during pandemic which hindered the market growth to some extent. Therefore, the market witnessed a moderate growth during the pandemic.

The rise in eye-related disorders and diabetes cases and increase in supportive government regulations are the major factors driving the market growth. The rise in eye-related disorders and diabetes is one of the key factors driving the market growth. For instance, as per the report published by the World Health Organization in October 2021, around 2.2 billion people have a near or distance vision impairment. It also reported that around 1.0 billion cases of vision impairment could have been prevented or has yet to be addressed, if timely diagnosis were done. Furthermore, it also stated that vision impairment represents a huge global financial burden, with annual global costs of lost productivity associated with visual impairment due to uncorrected myopia and presbyopia alone estimated as USD 244.0 billion and USD 25.4 billion, respectively. Fundus camers is generally used for detection of eye disorder. It is used for imaging the retina of the eye. Therefore, such factors are anticipated to propel the market growth over the forecast period.

However, high pricing pressure may likely to impede the market growth over the forecast period.

Scope of the Report

As per the scope, a fundus camera, also known as a retinal camera, is referred to as a specialized low-power microscope with an attached camera. Its optical design is established on the indirect ophthalmoscope. They provide an objective photographic profile of any condition in the fundus. The device is also used to take photographs of the anterior segment of the eye. The Fundus Camera Market is segmented by Product Type (Mydriatic Fundus Cameras, Nonmydriatic Fundus Cameras, Hybrid Fundus Cameras, and Others), End User (Hospitals, Specialty Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

By Product Type
Mydriatic Fundus Cameras
Nonmydriatic Fundus Cameras
Hybrid Fundus Cameras
Others
By End-User
Hopitals
Speciality Clinics
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Nonmydriatic Fundus Cameras Show Lucrative Growth Opportunities in the Global Fundus Camera Market

A non-mydriatic fundus camera makes use of the retina’s reflective properties in order to show details and store images whithate superior to slit lamps and other frequently-used tools. It does not require pupil dilation in the majority of cases and is painless for patients. These provide early detection and monitoring of a number of serious eye problems, such as macular degeneration, high blood pressure, glaucoma, damage resulting from multiple sclerosis, and diabetic retinopathy. Such a camera offers images that visually add to ophthalmologist notes, and creates a fuller picture of eye health that can be shared with other physicians effortlessly in the collaborative management of patient health. This type of camera is easy to operate with little training required and also offers a wide angle of the targeted retina.

The increasing cases of eye disorders and diabetes leading to diabetic retinopathy are the major factors propelling the segment growth over the forecast period. For instance, as per the report published by the International Agency for the Prevention of Blindness in December 2020, around 1 in 3 people living with diabetes have some degree of diabetic retinopathy, and 1 in 10 are expected to develop a vision threatening form of the disease. The report also stated that around 1.0 million people around the globe were blind due to diabetic retinopathy, and over 3.0 million people had moderate-severe vision impairment in 2020. Therefore, such instances are anticipated to propel the segment growth over the forecast period.

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North America is Expected to Dominate the Fundus Camera Market Over the Forecast Period

North America is expected to dominate the overall fundus camera market, over the forecast period. The growth is due to factors such as increasing cases of eye disorders and increasing cases of diabetes in the region. For instance, according to the report published by Diabetes Canada in November 2021, the estimated prevalence rate of diabetes is around 10.0% in 2021 and is expected to reach 12.0% by 2031. It also reported that around 29.0% of Canadians live with diabetes or prediabetes and around 10.0% of Canadians are living with diagnosed diabetes. The same source also stated that diabetic retinopathy is the leading cause of vision loss in people of working age and the prevalence of diabetic retinopathy is around 25.0% in Canada. Therefore, increasing cases of diabetic retinopathy is expected to propel the demand of fundus camera, thereby surging the market growth in the North America region.

Key product launches, high concentration of market players or manufacturer's presence, and acquisition & partnerships among major players, and increasing cases of diabetic retinopathy in the United States are some of the factors driving the growth of the fundus camera market in the country. For instance, diabetic retinopathy is the leading cause of new cases of blindness among adults aged 20 to 74 years in the United States. According to the data published by the Centers for Disease Control and Prevention (CDC) in 2020 around 4.1 million Americans are affected with diabetic retinopathy, and nearly 900,000 Americans are threatened with vision-damaging retinopathy. Hence the increasing number of people living with diabetic retinopathy is expected to contribute to market growth across the country.

Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the North America Region.

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Competitive Landscape

The global fundus camera market is competitive and consists of a few major players. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known including Canon, Inc., Carl Zeiss Meditec, Inc., CenterVue SpA, Epipole Ltd., Kowa Company Ltd., NIDEK Co., Ltd., Optomed Oy Ltd., Optovue, Inc., and Topcon Medical Systems, Inc., among others.

Recent Development

  • In March 2022, epipole, an emerging provider of world-class handheld fundus cameras, launched their new epiCam fundus camera to the United States eye care market, at the Vision Expo East in New York City. The epiCam is a high-powered, ultra-portable, wireless fundus camera, that captures live high-resolution video footage of the living retina, along with the accompanying still images, using epipole's new video direct ophthalmoscopy (VDO) platform.
  • In October 2021, NIDEK CO., LTD. launched the Retina Scan Duo 2, a combined OCT and fundus camera system. The new imaging system incorporates new features that enhance screening and clinical efficiency in addition to user-friendly features that were incorporated from the previous model.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rise in Eye-Related Disorders and Diabetes Cases

      2. 4.2.2 Increase in Supportive Government Regulations

    3. 4.3 Market Restraints

      1. 4.3.1 High Pricing Pressure

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value – USD Million)

    1. 5.1 By Product Type

      1. 5.1.1 Mydriatic Fundus Cameras

      2. 5.1.2 Nonmydriatic Fundus Cameras

      3. 5.1.3 Hybrid Fundus Cameras

      4. 5.1.4 Others

    2. 5.2 By End-User

      1. 5.2.1 Hopitals

      2. 5.2.2 Speciality Clinics

      3. 5.2.3 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Canon, Inc.

      2. 6.1.2 Carl Zeiss Meditec, Inc.

      3. 6.1.3 Revenio Group (iCare)

      4. 6.1.4 Epipole Ltd.

      5. 6.1.5 Kowa Company Ltd.

      6. 6.1.6 NIDEK Co., Ltd.

      7. 6.1.7 Optomed Oy Ltd.

      8. 6.1.8 Optovue, Inc.

      9. 6.1.9 Topcon Medical Systems, Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Global Fundus Camera Market market is studied from 2019 - 2027.

The Global Fundus Camera Market is growing at a CAGR of 6.7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

NIDEK Co., Ltd., Carl Zeiss Meditec, Inc., Canon, Inc., Topcon Medical Systems, Inc., Revenio Group (iCare) are the major companies operating in Global Fundus Camera Market.

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