Fundus Cameras Market by Product and Geography - Forecast and Analysis 2021-2025

The fundus cameras market share is expected to increase by USD 120.4 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.55%.

This fundus cameras market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers fundus cameras market segmentation by product (non-mydriatic fundus cameras, hybrid fundus cameras, and mydriatic fundus cameras) and geography (North America, Asia, Europe, and ROW). The fundus cameras market report also offers information on several market vendors, including Canon Inc., Carl Zeiss AG, EasyScan BV, Epipole Ltd., Haag-Streit AG, Kowa Co. Ltd., NIDEK Co. Ltd., Optomed Plc, Robert Bosch GmbH, and Topcon Medical Systems Inc. among others.

What will the Fundus Cameras Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Fundus Cameras Market Size for the Forecast Period and Other Important Statistics

 

Fundus Cameras Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing geriatric population and increasing incidence of eye diseases are notably driving the fundus cameras market growth, although factors such as a shortage of skilled ophthalmologists may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the fundus cameras industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Fundus Cameras Market Driver

The growing geriatric population and increasing incidence of eye diseases is a major trend fueling the fundus cameras market growth. The increasing prevalence of intraocular eye disorders such as cataracts, glaucoma, age-related macular degeneration (AMD), and diabetic retinopathy is likely to increase the need for proper diagnosis and eye care. Further, the increasing incidence of conditions such as dry eye, amblyopia, floaters, histoplasmosis, macular edema, retinal detachment, retinoblastoma, color blindness, blepharospasm, blepharitis, and corneal disease is likely to spur the demand in the global fundus cameras market. Rare eye diseases are easily diagnosed with the aid of technologically advanced fundus cameras, which is likely to contribute to market growth. For instance, rare eye diseases such as Usher syndrome, uveal coloboma, idiopathic intracranial hypertension, anophthalmia, and microphthalmia are diagnosed and detected accurately with the aid of technologically advanced fundus cameras. The risk factor for conditions such as AMD, cataract, diabetic eye disease, glaucoma, dry eye, and low vision increase with age. Changes in vision are noticed with aging which will drive the market growth during the forecast period. 

Key Fundus Cameras Market Trend

Growing demand for hybrid cameras is a major trend influencing the fundus cameras market growth. The increasing prevalence of eye diseases is necessitating the need for technologically advanced imaging equipment for better diagnosis and treatment. Vendors such as Kowa Optimed, Canon, and Optovue are offering digital hybrid fundus cameras, which can perform functionalities of both mydriatic and non-mydriatic cameras. The key benefits of the system include an ergonomic design for better patient comfort, a modern compact design, a narrow camera design (which gives an operator a better view of the patient), and superior retinal imaging quality. The device features seven photography modes, including mydriatic, non-mydriatic color, fluorescein fundus angiography, FAF, red-free, small pupil, and anterior modes. The presence of different modes enables a better diagnosis of retinal disorders such as age-related macular disease (ARMD).  The device also uses the EOS technology, which provides optimal retinal imaging, thus facilitating better diagnosis. The increasing need for better and accurate diagnosis is compelling manufacturers to incorporate newer technologies and develop novel hybrid fundus cameras, which is expected to fuel market growth.

Key Fundus Cameras Market Challenge

The shortage of skilled ophthalmologists is a major hindrance to the fundus cameras market growth. Mydriatic and non-mydriatic fundus cameras have offered unprecedented diagnostic capabilities. However, physicians and medical students lack confidence in using them. To overcome this issue, several web-based seminars and other teaching techniques have been made available to ophthalmologists and students. A leap in technology over the past few decades has led to advances in the diagnosis and treatment of diseases. However, a shortage of skilled ophthalmologists poses a potential threat to the growth of the market. There is a decline in the number of medical schools offering ophthalmology programs, which reduces the proficiency of direct and indirect ophthalmoscopy among physicians. The accuracy of screening for common eye diseases such as diabetic retinopathy, hypertensive retinopathy, and glaucoma reduces significantly when performed by an untrained professional. Technological advances over the last decade, including smartphone ophthalmoscopy, non-mydriatic fundus photography, and hybrid fundus retinal imaging, require skills on the part of the optometrist. This could potentially decrease the adoption of fundus cameras over the forecast period.

This fundus cameras market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global fundus cameras market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the fundus cameras market during the forecast period.

Who are the Major Fundus Cameras Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Canon Inc.
• Carl Zeiss AG
• EasyScan BV
• Epipole Ltd.
• Haag-Streit AG
• Kowa Co. Ltd.
• NIDEK Co. Ltd.
• Optomed Plc
• Robert Bosch GmbH
• Topcon Medical Systems Inc.

 

This statistical study of the fundus cameras market encompasses successful business strategies deployed by the key vendors. The fundus cameras market is fragmented and the vendors are deploying organic and inorganic strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The fundus cameras market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Fundus Cameras Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the fundus cameras market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global healthcare equipment market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Fundus Cameras Market?

For more insights on the market share of various regions Request for a FREE sample now!

36% of the market’s growth will originate from North America during the forecast period. The US is the key market for fundus cameras market in North America. Market growth in this region will be faster than the growth of the market in regions.

The increasing use of non-mydriatic cameras will facilitate the fundus cameras market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

An increase in the number of COVID-19 cases across the region led people to delay regular eye check-ups, which involved fundus photography of their retina in 2020. This reduced the demand for new fundus cameras from healthcare providers. To limit the spread of COVID-19, governments in the region imposed nationwide lockdowns in the first half of 2020. Owing to this, production units that provide key components for fundus cameras and logistics services that play a key role in aggregating all the crucial components to manufacture finished products, such as fundus cameras, were halted. This led to a supply-demand gap in the regional market in focus in 2020. Such factors hindered the growth of the regional fundus cameras market in 2020. However, in 2021, post the lifting of lockdowns, an increase in the need for eye check-ups for retina-related diseases has raised the demand for fundus cameras in North America. The increasing adoption of technologically advanced fundus cameras, a rise in the prevalence of retina-related diseases, an increase in healthcare expenditure, and the growth in the number of advanced healthcare facilities dedicated to eye treatment with high-quality medical devices are expected to recover and stabilize the growth of the fundus cameras market in the region during the forecast period. Overall, the market in focus is expected to exhibit significant growth in the region during the forecast period.

What are the Revenue-generating Product Segments in the Fundus Cameras Market?

To gain further insights on the market contribution of various segments Request for a FREE sample

The fundus cameras market share growth in the non-mydriatic fundus camera segment will be significant during the forecast period. Factors such as the low cost of the device and no requirement of chemical pupil dilation (hence less patient discomfort during the examination) are likely to increase the adoption of non-mydriatic fundus cameras by optometrists and patients.The high adoption of non-mydriatic fundus cameras is owing to the increasing prevalence of eye diseases coupled with the increase in the geriatric population globally. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the fundus cameras market size and actionable market insights on post COVID-19 impact on each segment.

 

Fundus Cameras Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 5.55%
Market growth 2021-2025	$ 120.4 million
Market structure	Fragmented
YoY growth (%)	4.87
Regional analysis	North America, Asia, Europe, and ROW
Performing market contribution	North America at 36%
Key consumer countries	US, UK, Japan, Germany, and China
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Canon Inc., Carl Zeiss AG, EasyScan BV, Epipole Ltd., Haag-Streit AG, Kowa Co. Ltd., NIDEK Co. Ltd., Optomed Plc, Robert Bosch GmbH, and Topcon Medical Systems Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request for a FREE sample

What are the Key Data Covered in this Fundus Cameras Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive fundus cameras market growth during the next five years
• Precise estimation of the fundus cameras market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the fundus cameras industry across North America, Asia, Europe, and ROW
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of fundus cameras market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch