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Editing: 9; Published: February 2022
Executive Pool: 811
Companies: 36 – Players covered include Canon, Inc.; Carl Zeiss Meditec, Inc.; CenterVue SpA; Clarity Medical Systems, Inc.; NIDEK Co., Ltd. ; Optomed Oy (Ltd.); Optovue, Inc.; Topcon Medical Systems, Inc. and others.
Blanket: All major geographies and key segments
segments: End use (ophthalmology clinics, hospitals, other end uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; and rest of Europe); Asia Pacific; Rest of the world.
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Global non-mydriatic wearable fundus camera market to reach $192.6 million by 2026
The use of a proper retinal camera is essential for ophthalmologists for accurate diagnosis and treatment of various eye-related diseases. Fundus camera refers to an ophthalmic imaging device, which combines a high resolution camera with a low power microscope. Fundus cameras are typically used in applications such as fundus imaging, fluorescein angiography, paired optic disc imaging, and external photography. Fundus cameras are widely used in the screening and diagnosis of various types of retinal disorders, including diabetic retinopathy, retinal detachment, glaucoma, and age-related macular degeneration. Ophthalmologists, optometrists and others use fundus cameras for screening and diagnostic purposes. A fundus or retinal camera allows practitioners to obtain more in-depth details of the retina and also to record the results for comparison and further study. Both the patient and the practitioner can access in-depth analyzes of the condition and then take action for the treatment of it. Fundus cameras are easy to use devices that can capture detailed images of the retina.
A non-mydriatic fundus camera uses the reflective properties of the retina to provide detail and also store images. Results with a non-mydriatic fundus camera are superior to other tools such as slit lamps and do not require pupil dilation in most cases. The camera helps in the early detection and monitoring of various types of eye disorders, including macular degeneration, diabetic retinopathy and glaucoma. The camera can be easily operated and requires minimal operator training. The benefits of the camera including a wider angle of the targeted area and the availability of different filter choices for image enhancement purposes. On the other hand, non-mydriatic fundus cameras do not offer stereoscopic capability and do not detect abnormalities outside the field of view.
Amid COVID-19 Crisis, Global Non-Mydriatic Wearable Fundus Cameras Market Estimated at US$138.8 million in 2022, is expected to reach a revised size of US$192.6 million by 2026, growing at a CAGR of 7.9% over the analysis period. Ophthalmology clinics, one of the segments analyzed in the report, is expected to grow at a CAGR of 8.2% to reach US$128.6 million at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Hospitals segment is readjusted to a revised CAGR of 7.6% for the next 7-year period. This segment currently accounts for a 21.5% share of the global non-mydriatic portable fundus camera market.
The US market is estimated at $41.9 million in 2022, when China is expected to reach $21.7 million by 2026
The Non-Mydriatic Wearable Fundus Camera Market in the United States is estimated at US$41.9 million in 2022. The country currently accounts for a 30.01% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$21.7 million in 2026 with a CAGR of 9.2% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 6.4% and 7.5% respectively over the analysis period. In Europe, Germany is expected to grow at around 7.3% CAGR while the rest of the European market (as defined in the study) will reach US$23.9 million at the end of the analysis period.
The market is driven by the steady pace of technological advancement, growing eye care awareness, rising geriatric population, and supportive government initiatives. For example, the laws and regulations of the various medical device authorities in Japan as well as the United States requires fundus imaging cameras to be replaced every four years. This not only maintains instrument performance, but also improves treatment and diagnosis. The incorporation of digital technology and artificial intelligence are also some of the factors propelling the growth of portable non-mydriatic fundus cameras.
Since the cost of glaucoma screening, prosthetic eyes, and cataract surgery are covered by Medicare, this is also expected to drive the fundus camera market.
Fundus cameras are used by optometrists, ophthalmologists and other healthcare professionals. These cameras are available as handheld or tabletop devices and manufacturers are introducing new high performance cameras. Many manufacturers are attempting to introduce miniature benchtop fundus cameras, which can display live eye images to aid alignment using infrared illumination. Manufacturers are also developing affordable and effective designs that include automatic transparent tiling, red-free optical filter, compensating lens switch, anterior para position, and split alignment focus. This is also expected to drive the growth of the portable non-mydriatic fundus camera market.
North America and Europe are the main regional markets for portable non-mydriatic fundus cameras. In North America, the growth of the market is driven by increasing geriatric population, high occurrence of diabetic retinopathy and rapid pace of technological advancements. The launch of sophisticated devices combined with the presence of prominent companies in this region is another factor driving the growth of the fundus camera market. An excise duty of 2.5% is levied on all medical devices in North America under the Patient Protection and Affordable Care Act, which may act as a barrier to the growth of the fundus camera market in this region. Europe is another major market for portable non-mydriatic fundus cameras. The high incidence of AMD and the widespread adoption of advanced healthcare technologies are other factors responsible for the increasing use of fundus cameras in Europe. Asia Pacific and China are poised to witness strong growth in demand for non-mydriatic fundus cameras due to rising awareness and development of healthcare infrastructure. Rising medical tourism is also driving the growth of the fundus camera market in Asia Pacific. Continued
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