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New study: Global fundus cameras market forecast 2016-2024

Global Fundus Cameras Market By Product Type (Mydriatic Fundus Cameras, Tabletop, Handheld, Non-mydriatic Fundus cameras, Tabletop, Hybrid Fundus Cameras, ROP Fundus Cameras) By Distribution Channel (online Store, offline Store) and Region - Global Forecast to 2024

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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.

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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.

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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.

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

o    Tabletop

o    Handheld

  • Non-mydriatic Fundus Cameras

o    Tabletop

o    Handheld

  • Hybrid Fundus Cameras
  • ROP Fundus Cameras

By End-User

  • Hospitals
  • Ophthalmology Clinics
  • Others

By Distribution Channel

  • Online Store
  • Offline Store

By Region

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

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & 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.

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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

o    Company Overview

o    Key Product Offerings

o    Business Strategy

o    SWOT Analysis

o    Financials

  • Canon
  • Nidek Co.
  • Optovue
  • CenterVue S.p.A.
  • Carl Zeiss Meditec AG
  • Kowa Optimed, Inc.
  • Optomed Oy (Ltd.)
  • Clarity Medical Systems
  • Epipole Ltd.

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global fundus camera market is segmented as follows:

  • By Product Type Market Size & Y-O-Y Growth Analysis
  • By End-User Market Size & Y-O-Y Growth Analysis
  • By Distribution Channel Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

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