Fundus Cameras Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : May 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Fundus Cameras market size is expected to be worth around US$ 570.4 million  by 2030, according to a new report by Vision Research Reports.

The global Fundus Cameras market size was valued at US$ 403.2 million in 2020 and is anticipated to grow at a CAGR of 15.8% during forecast period 2021 to 2030.

Growth Factors

 The rising geriatric population and growing occurrences of chronic disorders such as diabetes and hypertension further increase the incidence of retinal disorders.

Additionally, increasing non-communicable diseases such as AMD, diabetic retinopathy, and glaucoma is contributing to the growing blind population globally. Therefore, to control the impact of these eye diseases, the fundus camera is widely used for diagnosis purposes. Availability of different types of fundus cameras such as hybrid, portable, handheld, and standalone is expected to propel the market growth during the forecast period.

Diabetic Retinopathy (DR), Retinopathy of Prematurity (ROP), and Age-Related Macular Degeneration (AMD) are major and increasing causes of retinal blindness. An increase in life expectancy has led to a rise in the geriatric population, which would further continue to rise in the future. According to the U.S. Census Bureau, international database, the global geriatric population was nearly 617.1 million in 2020 and is anticipated to reach 998.7 by 2030. This, in turn, is expected to drive the overall market growth during the forecast period.

In addition, supportive government regulations for fundus cameras are expected to fuel the market growth during the forecast period. For instance, regulatory agencies in the U.S. and Japan stated that the cameras should be replaced every 4 years. This initiative by the agencies will help in implementing new advancements in fundus photography every 4 years, thereby, enhancing the diagnosis of eye diseases. However, the presence of other advanced technologies such as OCT for the diagnosis of eye problems is expected to hinder the adoption of fundus cameras and may impact the overall market growth during the forecast period.

Report Highlights

The non-mydriatic cameras segment dominated the market and accounted for the largest revenue share of 49.7% in 2020. It improves the ability of a practitioner to view detailed retinal anatomy and, thereby, improves the diagnosis and management of eye diseases. Furthermore, non-mydriatic cameras make use of fundus photography, which eliminates the need for dilating drops and bright lights; hence, fundus photography is more patient-friendly. This property also helps glaucoma patients for whom dilation is contraindicated. Advancements in non-mydriatic cameras, such as fluorescein imaging, portability, and live-action systems are anticipated to drive the market during the forecast period.

The mydriatic fundus cameras segment accounted for 19.9% of the share in 2020. The low share of the mydriatic camera or traditional fundus camera is attributed to the necessity of pupil dilation with the help of bright light or dilating drop to obtain a clear image of the retina. This is not comfortable for patients suffering from glaucoma and photosensitivity. Furthermore, advancements in the fundus cameras provide more clear, quick, and reliable images of the retina, which has resulted in a decrease in the demand for mydriatic cameras. Lower investment by industry players due to the low demand for mydriatic cameras may restrain the growth of the market during the forecast period.

The ophthalmic and optometrist offices segment dominated the market and accounted for the largest revenue share of 26.4% in 2020. The segment is expected to grow at the fastest rate of 6.5% during the forecast period due to increasing optometrist practitioners, preference for primary eye care, and low-cost services by ophthalmic and optometrist offices compared to ophthalmologists. For instance, about 40,000 optometrists were practicing in 2012 and this is expected to reach about 46,300 by 2022. Furthermore, a stagnated supply of ophthalmologists creates an opportunity for optometric offices to dominate the market. For instance, the lack of ophthalmologists in low-income countries in the Asia Pacific, Latin America, and Africa increase the demand for optometrists in emerging regions.

Hospitals include secondary care, tertiary care, and advanced care. Hospitals are mostly preferred for pediatric eye care services and complicated procedures where one or more ophthalmologists are available along with the diagnostic and surgical support services. However, preference for specialty eye clinics, such as ophthalmologist clinics and optometrist offices, may restrain the growth of the market.

Highly skilled ophthalmologists and comprehensive eye examinations in clinics are expected to increase the demand for ophthalmology clinics for complex situations. However, the high cost for examination, lack of ophthalmologists, and low preference by patients for consulting ophthalmologists for primary eye care may restrain the growth of the market. For instance, in 2012, about 18,000 ophthalmologists were practicing in the U.S and this is expected to remain stable until 2022.

North America dominated the fundus cameras market in 2020 and held the largest share of around 37.4%. Major factors contributing to the growth of this region include the increasing geriatric population and technical advances in the field. Furthermore, approval and launching of fundus cameras in the U.S. and Canada and high adoption of new technologies are likely to boost the market share. Widening application of fundus cameras for early detection and screening not only for eye diseases but also for lifestyle-associated diseases is anticipated to propel the market during the forecast period.

In Europe, the market is likely to witness a CAGR of 5.9% over the forecast period due to the local presence of major market players; technological developments in fundus cameras, such as easy to use, portability, and development of hybrid cameras; and adoption of newer products. For instance, key players such as Carl Zeiss Meditec Group, Optomed Oy (Ltd.), and CenterVue SpA are headquartered in Europe. Furthermore, a rising number of diabetic retinopathy patients and the geriatric population is expected to boost the overall market during the forecast period.

Key Players

  • Carl Zeiss Meditec, Inc.

  • Kowa Company Ltd.

  • Optomed Oy (Ltd.)

  • Optovue, Incorporated

  • CenterVue SpA

  • NIDEK Co., Ltd.

  • Topcon Medical Systems, Inc.

  • Clarity Medical Systems, Inc.

  • Canon, Inc.

Market Segmentation

  • Product Outlook 

    • Mydriatic Fundus Cameras

      • Tabletop

      • Handheld

    • Non-Mydriatic Fundus Cameras

      • Tabletop

      • Handheld

    • Hybrid Fundus Cameras

    • ROP Fundus Cameras

  • End-use Outlook 

    • Hospitals

    • Ophthalmology Clinics

    • Ophthalmic & Optometrist Offices

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • The Netherlands

      • Russia

      • Switzerland

      • Poland

      • Turkey

    • Asia Pacific

      • China

      • Japan

      • India

      • Thailand

      • South Korea

      • Indonesia

      • Taiwan

      • Hong Kong

      • Philippines

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

      • Chile

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Kuwait

      • Qatar

The Fundus Cameras market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Fundus Cameras market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Fundus Cameras market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Fundus Cameras market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Fundus Cameras market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Fundus Cameras capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Fundus Cameras by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Fundus Cameras market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Fundus Cameras market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Fundus Cameras market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Fundus Cameras industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Fundus Cameras market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Fundus Cameras market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Fundus Cameras market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Fundus Cameras market. These factors have benefited the growth of the global market for Fundus Cameras. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Fundus Cameras. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Fundus Cameras are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.

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