Fundus Cameras Market Analysis

Fundus Cameras Market : Global Demand Analysis & Opportunity Outlook 2024

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Report ID: 449 | Published On: Oct 18, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.

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Fundus Cameras Market Overview

Fundus camera is defined as a low power microscope with an attached camera. Fundus camera is based on the indirect ophthalmoscope.  It is widely used in various applications such as fluorescein angiography, external photograph, paired optic disk images, and fundus imaging. It is also used to diagnose retinal disorders.

Market Size and Forecast

Global fundus camera market is anticipated to flourish at a CAGR of 6.5% over the forecast period. Further, the factors propelling the growth of fundus camera market include increasing healthcare concerns among the population and growing geriatric population.

On the basis of product type, non-mydriatic fundus cameras has been the largest segment in 2016 and it is expected to garner at a CAGR of 7.1% during the forecast period. Furthermore, hybrid fundus cameras by product type segment accounted for the highest CAGR during the forecast period owing to possessing multiple technologies in a single device.

fundus cameras market

In terms of regional platform, North America is projected to lead the market by the end of 2024. Further, U.S. and Canada are expected to be the dominating countries during the forecast period owing to growing adoption of technologically advanced products. Moreover, high prevalence of retinal disorders in this region is also envisioned to foster the growth of fundus camera market. Moreover, presence of major key players of fundus camera in North America region is believed to foster the growth of fundus camera market.Europe accounted for the second largest market of fundus camera in terms of revenue in 2016. Additionally, the growth of Europe region can be attributed to various factors such as rising adoption of advanced healthcare technology and rapid urbanization. Likely, the major countries witnessing the augmented demand for fundus camera include the Western European countries.CLICK TO DOWNLOAD FREE SAMPLE

Asia-Pacific region is expected to be the fastest growing fundus camera market during the forecast period. Further, rising diabetic patients and growing awareness towards advanced healthcare gadgets are believed to foster the growth of fundus camera market in Asia-Pacific region. Additionally, Japan and China are the leading countries in fundus camera market in this region.        

Market Segmentation

Our in-depth analysis has segmented global fundus camera market into the following segments:

By Product Type

  • Mydriatic Fundus Cameras
    • Tabletop
    • Handheld
  • Non-mydriatic Fundus Cameras
    • Tabletop
    • Handheld
  • Hybrid Fundus Cameras
  • ROP Fundus Cameras

By End-User

  • Hospitals
  • Ophthalmology Clinics
  • Others

By Distribution Channel

  • Online Store
  • Offline Store

fundus cameras market
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By Region

Global fundus camera market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers and Challenges

Rising healthcare expenditure and increasing cases of retinal detachment, and diabetic retinopathy (DR) are envisioned to be the dynamic factors behind the rapid growth of fundus camera market across the globe. Further, rising geriatric population and advancement in medical technology are expected to bolster the growth of fundus camera market by the end of 2024. Moreover, rising demand for innovative healthcare technology and growing awareness about eye disorders are the major factors propelling the growth of fundus camera market.

Additionally, rising GDP figures along with developing healthcare infrastructure of developed and developing nations is projected to flourish the growth of fundus camera market. Likely, favorable government initiatives for the implementation of fundus camera for the treatment of various retinal disorders are also predicted to bolster the growth of fundus camera market.

However, high cost associated with the fundus camera is anticipated to dampen the growth of fundus camera market by the end of 2024.

Key Players

  • Topcon Corporation
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Canon
  • Nidek Co.
  • Optovue
  • CenterVue S.p.A.
  • Carl Zeiss Meditec AG
  • Kowa Optimed, Inc.
  • Optomed Oy (Ltd.)
  • Clarity Medical Systems
  • Epipole Ltd.

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