SA-BRC announces the release of market assessment report on "Global Fundus Camera Market Assessment & Forecast 2017 - 2021"
The "Global Fundus Camera Market Assessment & Forecast 2017-2021", estimates that the global fundus camera market was valued at US$ 629.4 million in 2016 and expected to grow to US$ 788.7 million by 2021 at a CAGR of 4.6% from 2017 to 2021.
Fundus camera market has been majorly concentrated in North America region and has now reached near saturation. With increasing penetration in rural areas and support from gradual developing healthcare sector, developing countries would witness faster growth throughout the forecast period. Currently North America accounts for 45% share of the global fundus camera market and is expected to witness slower growth as compared to other geographies. North America also has the lowest percentage of refurbished devices sale. In spite of slower growth, new devices with latest technology are being introduced in the region. Optovue received FDA approval for its iCam non-mydriatic compact fundus camera in 2013. In 2015, Zeiss introduced two new non-mydriatic fundus cameras VISUCAM 224 and VISUCAM 524 at the American Academy of Ophthalmology (AAO) in Las Vegas. Later in 2016, Welch Allyn also introduced RetinaVue 100 Imager a handheld fundus camera for diabetic retinopathy screening. Asia Pacific region gains focus as the fastest growing fundus camera market. This region consists of highest number of ophthalmologists, and also high percentage of individuals suffering from diseases that are major predisposing factors for retinal disorders. Japan, China, India, and Australia are major countries contributing to the fundus camera market in Asia Pacific region.
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The report also segments the fundus camera market by technologies including non-mydriatic, hybrid, mydriatic, ROP cameras and smartphone fundus cameras. Each of these segments are further segmented by type (new fundus camera and refurbished fundus camera). Fundus camera market is currently experiencing technological evolution that has accelerated the overall market growth. Advent of handheld and smartphone fundus camera has enabled on-field application. This flexibility is essential in providing medical care in remote areas, where patients are reluctant to travel distances to visit ophthalmologists. Low cost and quick results in digitalized form has allowed rapid penetration in low-income countries in Asia, Latin America and Africa, where patients do have access to even basic medical care. Gradual obsolescence of mydriatic fundus cameras due to replacement with new technology versatile devices has also been a major driver for the fundus camera market to grow globally.
Key Players in the global fundus camera market include Canon, Inc., Carl Zeiss Meditec AG, CenterVue SpA, Epipole Ltd., Forus Health Pvt. Ltd., Kowa Company Ltd., Natus Medical, Nidek Co., Ltd., Optomed Oy (Ltd.), Optos plc., Remidio Innovative Solutions Pvt. Ltd, Topcon Medical Systems, Inc., Volk Optical Inc., and Welch Allyn, Inc.
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