The global Fundus Cameras Market is expected to value at USD 625.1 million by 2025. The market is subject to witness a substantial growth due to the growing prevalence of age-related Macular Degeneration (AMD), Diabetic Retinopathy (DR), and glaucoma disorders. Growing importance toward high-resolution digital images to achieve excellent clarity and precision in medical and healthcare applications is expected to favor the growth of fundus cameras industry.
Additionally, complete transformation of the medical imaging platforms and systems, in the recent years, thus supporting the need for technologically sophisticated medical cameras. Globally, the fundus camera market is predicted to grow at CAGR of 6.8% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
Fundus cameras allows facilitation for precise analysis of several conditions and aid in decision making for doctors and clinicians. In addition, use of fundus cameras helps to identify and determine of any particular disorder or anomaly in the patient. Fundus cameras can easily detect common symptoms by enhancing field of view, thus offering clarity, flexibility and adaptability during the treatment by addressing new possibilities. These factors are expected to play key role for sustained market growth over the forecast period.
The recent technological advancement coupled with development of the novel products & techniques such as a specialized low power microscope and highly sensitive sensor technologies are expected to provide platform for the sustained growth of fundus camera industry in the upcoming years. Growing popularity of the medical cameras among healthcare professionals and clinicians are estimated to offer lucrative growth opportunities for industry player over the forecast period.
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Growing geriatric population and emergence of cost effective solution are propelling market growth as well, in the recent years. Increasing need for modernization and centralization of healthcare administration and services, and growing demand for superior quality and safety of healthcare services are expected to pave a way for future market growth of fundus cameras as well.
The fundus cameras market is broadly categorized into four major segments based on the product type such asmydriatic fundus cameras, non-mydriatic fundus cameras, hybrid fundus cameras and ROP fundus cameras. The non-mydriatic fundus cameras is considered as one of the fastest growing segment in the fundus cameras industry with substantial revenue generation in the last few years. Growing popularity of the non-mydriatic fundus cameras segment is attributed to the easy availability and higher market penetration of the devices. The hybrid fundus cameras segment has also witnessed substantial growth owing to the use of hybrid technology to manufacture these devices.
The fundus camera market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the healthcare sector, increase in the number of research & development activities in the region and existence of well-established medical infrastructure.
Asia-Pacific region is predicted to hold major market share in fundus cameras with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with improved medical infrastructure, increasing healthcare expenditure, rising per capita income, growing awareness among general population, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the fundus camera industry are Carl Zeiss Meditec, Inc., Kowa Company Ltd., Optomed Oy Ltd., Optovue, Inc., CenterVue S.p.A,, NIDEK Co., Ltd., Topcon Medical Systems, Inc., Clarity Medical Systems, Inc., and Canon, Inc.
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