The fundus camera market was valued at ~$434.5 million in 2020. The fundus market is forecast to grow at a CAGR of 4.3% during the forecast period from 2021-2027.
A fundus camera can capture images of the eye’s interior. Angle variations, colors, red-free images, and angiography imaging are some of the features of these cameras. The fundus camera consists of a specialized low-power microscope attached to a camera that takes pictures of the inside of the eye. These images can assist in diagnosing and treating several different types of eye diseases. The market is full of various market players and buyers, resulting in a perfect competition environment. Fundus camera manufacturers compete on the basis of price, product innovation, and quality.
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As the population grows, diabetic retinopathy, cataracts, conjunctivitis, retinal degenerative conditions, and age-related macular degeneration are on the rise. Additionally, children have increased vulnerability to eye disorders, including glaucoma, conjunctivitis, and night blindness. Eye diseases have a significant impact on the quality of a person’s life by reducing vision.
Seeing problems are the third most common impairment after anemia and hearing problems. According to ScienceDirect, approximately 38.5 million people worldwide will be blind by 2020. Another common eye disorder seen in developing nations is cataracts because there are fewer qualified medical professionals available. Accordingly, the cataract is responsible for more than 50% of all blindness cases in some regions, which will increase the demand for ophthalmologists. Therefore, the fundus camera market is forecast to see growth in the future due to the factors listed above.
Covid-19 Impact on the Global Fundus Camera Market
Covid-19 has a severe impact on global health and significant economic disadvantages for large portions of the world’s population. A severe strain has fallen on the world’s healthcare system due to the pandemic. During this period, health care providers and institutions have instructed them to avoid performing elective surgical procedures and medical exams to allow the spread of the disease and conserve resources. There has been a significant decline in imaging case volume in several ophthalmology departments. The amount of imaging in ophthalmology clinics will decrease by 50% to 70%, dependent on the location and severity of Covid-19. Due to this pandemic, the future appears uncertain.
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Regional Analysis of the Global Fundus Camera Market
In 2020, North America held the largest share of the global market for fundus cameras. During the past decade, diabetes has become more prevalent in North America, and diabetic patients have a much higher risk of developing diabetic retinopathy than non-diabetics. Additionally, healthcare expenses have increased as the elderly population has grown. In addition, the market has grown in this geographic area because of government support for reimbursements and screenings. Asia-Pacific, by contrast, will increase the fastest over the forecast period because local players have a strong presence, expert services are available, and medical tourism is on the rise. Raising awareness of diabetic retinopathy and retinal diseases is driving the market for fundus cameras in the country.
Key Players in the Global Fundus Camera Market
The leading competitors profiled in the global fundus camera market include:
Revenio Group Corporation (Centervue SPA)
Segment Analysis of the Global Fundus Camera Market
The segmentation of the global fundus camera market includes Portability, End-User, Product, and Region.
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Middle East & Africa (MEA)
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This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
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