A new Transparency Market Research report states that the global fundus cameras market, pegged at US$220.5 mn in 2012, is anticipated to reach US$300.5 mn by 2019, expanding at a CAGR of 4.50% from 2013 to 2019. The title of the report is, “Fundus Cameras Market – Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast, 2013 – 2019.”
A fundus camera is a unique low-power microscope having an attached camera; this optical system is utilized for imaging the eye’s retina. Fundus photography images the retina, called the neurosensory tissue in the eye, which helps in translating the optical images seen by the eye into electrical impulses. The retina is photographed directly owing to the fact that the pupil is utilized as both an exit and an entry for the fundus camera’s imaging and illuminating light rays. Ophthalmologists utilize these retinal photographs for following up, diagnosing, and treating eye diseases.
According to the report, the continuous growth in the aging population globally and the rising occurrence of retinal disorders are amongst the prime factors fuelling the development of the market for fundus cameras. In addition, the technical advancements in a number of nations have also resulted in the growth of fundus cameras with enhanced capabilities. Furthermore, the introduction of hybrid fundus cameras and the developing markets of Rest of the World (RoW) and Asia Pacific have emerged as key opportunities in the market for fundus cameras. On the other hand, the soaring costs related with technically sophisticated fundus cameras and the rising adoption of refurbished fundus cameras are amongst the chief factors posing a negative impact on the growth of the market.
On the basis of product, the market is segmented into mydriatic fundus cameras, non-mydriatic fundus cameras, retinopathy of prematurity (ROP) fundus cameras, and hybrid fundus cameras. Amongst these, mydriatic fundus cameras and non-mydriatic fundus cameras are further segmented into handheld and tabletop mydriatic fundus cameras. Amongst these, non-mydriatic fundus cameras led the market on the basis of volume and revenue in 2012. iFusion by Optovue, Inc., X-1 by Canon, Inc., VX-20 by Kowa Optimed, Inc. are amongst the top-notch hybrid fundus cameras commercially available in the market.
On the other hand, it is predicted that the segment of hybrid fundus cameras will experience the highest growth rate in the forecast horizon owing to the increasing advantages of these cameras. These cameras comprise a number of technologies within a single device and thus allow easy diagnosis of retinal disorders by trained medical professionals and ophthalmologists.
In terms of geography, the report segments the market into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, North America led the market on the basis of both revenue and volume in 2012. This is owing to the increasing aging population, technical advancements resulting in the launch of handheld and digital devices, and rising occurrence of diabetic retinopathy and a number of other retinal disorders in this region. Europe trailed North America and held the second-largest share in the market on the basis of both volume and revenue. Europe was trailed by the region of RoW and Asia Pacific in the same year.
The report states that the chief players dominant in the fundus cameras market are Carl Zeiss Meditec AG, Kowa Optimed, Inc., Optomed Oy (Ltd.), Optovue, Inc., and CenterVue S.p.A., among others.