Fundus Cameras Market Report

Fundus Cameras Market Analysis By Product (Mydriatic Fundus Cameras, Non-mydriatic Fundus Cameras, Hybrid Fundus Cameras, ROP Fundus Cameras), By End Use (Hospitals, Ophthalmology Clinics, Optometrist Offices), And Segment Forecasts, 2013 - 2024

Published: December 2016  |  100 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-346-1

Industry Insights

The global fundus cameras market size was valued at USD 347.6 million in 2015 and is projected to grow at a CAGR of 6.8% over the forecast period. This high growth is attributed to rising incidence of Age-related Macular Degeneration (AMD), Diabetic Retinopathy (DR), and glaucoma.

Diabetic eye diseases consist of a group of several eye conditions that include, DR, diabetic macular edema, glaucoma, and cataract. According to the National Eye Institute (NEI), U.S., from 2010 to 2050, the numbers of diabetic retinopathy patients in America are anticipated to double from 7.7 million to 14.6 million.

U.S. fundus cameras market by product, 2013-2024 (USD Million)

U.S. fundus cameras market

In addition, advancements in the field are expected to drive the market during the forecast period. For instance, since the launch of Carl Zeiss’s first digital fundus camera in 1926, the devices have been evolving continuously.

Advancements from film-based fundus camera, digital camera, red-free fundus camera to the development of several other modes to get a clearer and in-depth image of fundus along with the growing adoption of these new technologies in emerging countries are anticipated to drive the market during the forecast period.

Product Insights

Non-mydriatic fundus cameras segment dominated in 2015 and is expected to maintain the highest share during the forecast period. This is attributed to the availability of several products in the industry. Furthermore, this device can be used for screening of glaucoma patients and those sensitive to light.

Hybrid fundus cameras segment is anticipated to grow at the highest rate during the forecast period of 2016 to 2024, due to the availability of a combination of technologies in a single device. Presently, VX-20 by Kowa Optimed, Inc.; CX-1 by Canon, Inc.; and iFusion by Optovue, Inc. are some of the hybrid fundus cameras commercially available. These devices are easier to use and more reliable for diagnosis of vision-threatening diseases.

Mydriatic fundus camera accounted for the second largest share in 2015. However, it is not useful for patients suffering from glaucoma and those who’re photosensitive. Non-mydriatic and mydriatic camera can be further sub-segmented into tabletop and handheld fundus camera. Presently, tabletop fundus camera dominated, due to its ability to produce a clearer fundus image and availability of several commercialized products.

End-Use Insights

Ophthalmic & optometrist offices dominated the segment in 2015 due to high preference for optometrists for primary eye care, and presence of well-equipped ophthalmic and optometrists’ offices in developed and emerging countries. 

For instance, in the U. S. about 40,000 optometrists were practicing in 2012 and this volume is expected to reach around 46,300 by 2022. Furthermore, a stagnated supply of ophthalmologists creates an opportunity for optometric offices to dominate the industry.

Fundus cameras market, by end use, 2015

Fundus cameras market

Regional Insights

In 2015, North America accounted for the maximum revenue share. Growing awareness about eye disorders, increased healthcare expenditure, and government support for reimbursement & screening of devices were the key factors responsible for the dominance of this region. 

Asia Pacific is anticipated to be the most lucrative region in the coming years because of the local presence of key players, availability of expert services, and growing medical tourism.

Japan, Singapore, China, India, and South Korea are the key contributors in the Asia Pacific region. Kowa Company, Ltd.; NIDEK Co., Ltd.; and Canon, Inc. are the major Japan-based players, who have captured the market in the Asia Pacific region.

Competitive Insights

Some of the key players in the industry include Carl Zeiss Meditec, Inc.; Kowa Company Ltd.; Optomed Oy (Ltd.); Optovue Incorporated; CenterVue SpA; NIDEK Co., Ltd.; Topcon Medical Systems, Inc.; Clarity Medical Systems, Inc.; and Canon, Inc.

Key strategies of the company include: establishment of new production systems, expansion of global sales network, and enhancement of R&D capabilities. For instance, in December 2016, Topcon Corporation acquired 51% shares of India-based Mehra Eyetech Private Limited. The company is now the only distributor for Topcon ophthalmic equipment in India. Thus, this acquisition is expected to strengthen Topcon’s market in India. Furthermore, in June 2016, Optomed Oy (Ltd.) entered into a distribution agreement for Germany with Essilor GmbH. This agreement is likely to boost its market in Germany. Such strategic moves by key industry players are likely to drive the industry during the forecast period.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2013 - 2015

Forecast period

2016 - 2024

Market representation

Revenue in USD Million & CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Latin America, & MEA

Country scope

U.S., Canada, UK, Germany, Japan, China, Brazil, Mexico, &South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, & trends

15% free customization scope (equivalent to 5 analyst working days)

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Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the fundus cameras market on the basis of product, end-use, and region:

  • Product Outlook (Revenue, USD Million; 2013 -2024)
    • Mydriatic Fundus Cameras

      • Tabletop

      • Handheld

    • Nonmydriatic Fundus Cameras

      • Tabletop

      • Handheld

    • Hybrid Fundus Cameras

      • ROP Fundus Cameras

  • End Use Outlook (Revenue, USD Million; 2013 -2024)
    • Hospitals

    • Ophthalmology Clinics

    • Ophthalmic & Optometrist Offices

  • Regional Outlook (Revenue, USD Million; 2013 -2024)
    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

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