The global fundus cameras market size was valued at USD 303.2 million in 2020 and is expected to expand at a CAGR of 5.8% from 2021 to 2028. The increasing geriatric population and chronic disorders, such as diabetes and hypertension, are responsible for the growth in the incidence of retinal disorders. Key retinal disorders include Diabetic Retinopathy (DR), Age-related Macular Degeneration (AMD), and Retinopathy of Prematurity (ROP). Furthermore, increasing awareness about eye disorders and the commercialization of several technologically advanced products are likely to propel the market during the forecast period.
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), the U.S., the diabetic retinopathy patients in America are expected to double from 7.7 million in 2010 to 14.6 million in 2050. In addition, advancements in the field are expected to drive the market during the forecast period. COVID-19 has negatively impacted the market as the data captured during the pandemic was not accurate and sufficient to determine the eye problem. Lack of data limited the tracing of disease, its management, and treatment. However, handheld fundus cameras can be a useful option in this pandemic, as their portability will help in capturing the retinal changes in COVID patients present in different settings or locations.
Advancements from the digital camera, red-free fundus camera, film-based fundus camera to the development of other for clear and in-depth fundus imaging along with the growing adoption of these new technologies in emerging countries are anticipated to drive the market during the forecast period. Moreover, supportive government regulations are also expected to contribute to market growth. According to the laws and regulations of medical device agencies in the U.S. and Japan, the fundus imaging cameras must be replaced once in every 4 years. This law helps maintain the quality of instruments and, thereby, improves diagnosis and treatment. Hence, the law is likely to maintain the demand for devices in countries and boost the market.
Pandemic Impact |
Post COVID Outlook |
The year 2020 marked a temporary decline in sales of the fundus camera owing to limited access to ophthalmic care |
The ophthalmologists are relying on handheld fundus cameras to maintain a safe distance with patients. The handheld segment is expected to exhibit a CAGR of more than 8% from 2021 to 2028 as compared to a previously calculated CAGR of 6% in a non-COVID scenario |
Increasing cases of mucormycosis as COVID-19 comorbidity is causing the need to assess eye health for each patient. |
The patients may require long-term monitoring for any ophthalmic conditions post COVID-19 recovery. This is expected to increased footfall in ophthalmology departments and needs additional diagnostic equipment including fundus cameras. |
However, factors such as pricing pressure and competition from other developed technologies are expected to hinder market growth. Optical Coherence Tomography (OCT), is an advanced technology developed for retinal reimaging. The technology provides detailed images of the retina and optic nerve, which are viewable in 2D and 3D formats. Furthermore, swept-source OCT is the latest generation of Fourier domain OCT technology. Advantages associated with swept-source OCT are better sensitivity and faster speed than OCT.
The non-mydriatic cameras segment dominated the market and accounted for the largest revenue share of 49.7% in 2020. It improves the ability of a practitioner to view detailed retinal anatomy and, thereby, improves the diagnosis and management of eye diseases. Furthermore, non-mydriatic cameras make use of fundus photography, which eliminates the need for dilating drops and bright lights; hence, fundus photography is more patient-friendly. This property also helps glaucoma patients for whom dilation is contraindicated. Advancements in non-mydriatic cameras, such as fluorescein imaging, portability, and live-action systems are anticipated to drive the market during the forecast period.
The mydriatic fundus cameras segment accounted for 19.9% of the share in 2020. The low share of the mydriatic camera or traditional fundus camera is attributed to the necessity of pupil dilation with the help of bright light or dilating drop to obtain a clear image of the retina. This is not comfortable for patients suffering from glaucoma and photosensitivity. Furthermore, advancements in the fundus cameras provide more clear, quick, and reliable images of the retina, which has resulted in a decrease in the demand for mydriatic cameras. Lower investment by industry players due to the low demand for mydriatic cameras may restrain the growth of the market during the forecast period.
The ophthalmic and optometrist offices segment dominated the market and accounted for the largest revenue share of 26.4% in 2020. The segment is expected to grow at the fastest rate of 6.5% during the forecast period due to increasing optometrist practitioners, preference for primary eye care, and low-cost services by ophthalmic and optometrist offices compared to ophthalmologists. For instance, about 40,000 optometrists were practicing in 2012 and this is expected to reach about 46,300 by 2022. Furthermore, a stagnated supply of ophthalmologists creates an opportunity for optometric offices to dominate the market. For instance, the lack of ophthalmologists in low-income countries in the Asia Pacific, Latin America, and Africa increase the demand for optometrists in emerging regions.
Hospitals include secondary care, tertiary care, and advanced care. Hospitals are mostly preferred for pediatric eye care services and complicated procedures where one or more ophthalmologists are available along with the diagnostic and surgical support services. However, preference for specialty eye clinics, such as ophthalmologist clinics and optometrist offices, may restrain the growth of the market.
Highly skilled ophthalmologists and comprehensive eye examinations in clinics are expected to increase the demand for ophthalmology clinics for complex situations. However, the high cost for examination, lack of ophthalmologists, and low preference by patients for consulting ophthalmologists for primary eye care may restrain the growth of the market. For instance, in 2012, about 18,000 ophthalmologists were practicing in the U.S. and this is expected to remain stable until 2022.
North America dominated the fundus cameras market in 2020 and held the largest share of around 37.4%. Major factors contributing to the growth of this region include the increasing geriatric population and technical advances in the field. Furthermore, approval and launching of fundus cameras in the U.S. and Canada and high adoption of new technologies are likely to boost the market share. Widening application of fundus cameras for early detection and screening not only for eye diseases but also for lifestyle-associated diseases is anticipated to propel the market during the forecast period.
In Europe, the market is likely to witness a CAGR of 5.9% over the forecast period due to the local presence of major market players; technological developments in fundus cameras, such as easy to use, portability, and development of hybrid cameras; and adoption of newer products. For instance, key players such as Carl Zeiss Meditec Group, Optomed Oy (Ltd.), and CenterVue SpA are headquartered in Europe. Furthermore, a rising number of diabetic retinopathy patients and the geriatric population is expected to boost the overall market during the forecast period.
In Asia Pacific, the market is anticipated to witness a CAGR of 6.0% during the forecast period because of the local presence of key players, availability of expert services, and growing medical tourism. In Asia Pacific, the market is majorly driven by China, Japan, India, and Australia. Japan dominated the market in terms of revenue share in 2020. This can be attributed to the local presence of major market players and a large geriatric population pool, whereas China is anticipated to be the fastest-growing market during the forecast period in the Asia Pacific.
Key strategies of the company include - expansion of the global sales network, the establishment of new production systems, and the enhancement of R&D capabilities. For instance, in December 2016, 51.0% shares of Mehra Eyetech Private Limited, an Indian based company was acquired by Topcon Corporation. The company distributes ophthalmic devices by Topcon in India. This acquisition is expected to strengthen the position of Topcon in the Indian market. Additionally, in June 2016, Optomed Oy (Ltd.) and Essilor GmbH entered into a distribution agreement of ophthalmic products in Germany. Such strategic initiatives by the market players are expected to drive the market during the forecast period. Some of the prominent players in the fundus cameras market 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.
Canon, Inc.
Report Attribute |
Details |
Market size value in 2021 |
USD 316.0 million |
Revenue forecast in 2028 |
USD 470.4 million |
Growth Rate |
CAGR of 5.8% from 2021 to 2028 |
Base year for estimation |
2020 |
Historical data |
2016 - 2019 |
Forecast period |
2021 - 2028 |
Quantitative units |
Revenue in USD million and CAGR from 2021 to 2028 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product, end use, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Russia; The Netherlands; Switzerland; Turkey; Poland; Japan; China; India; Thailand; South Korea; Indonesia; Taiwan; Hong Kong; Philippines; Brazil; Mexico; Colombia; Argentina; Chile; South Africa; Saudi Arabia; UAE; Kuwait; Qatar |
Key companies profiled |
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.; Canon, Inc. |
Customization scope |
Free report customization (equivalent to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Pricing and purchase options |
Avail of customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global fundus cameras market on the basis of product, end-use, and region:
Product Outlook (Revenue, USD Million, 2016 - 2028)
Mydriatic Fundus Cameras
Tabletop
Handheld
Non-Mydriatic Fundus Cameras
Tabletop
Handheld
Hybrid Fundus Cameras
ROP Fundus Cameras
End-use Outlook (Revenue, USD Million, 2016 - 2028)
Hospitals
Ophthalmology Clinics
Ophthalmic & Optometrist Offices
Regional Outlook (Revenue, USD Million, 2016 - 2028)
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
The Netherlands
Russia
Switzerland
Poland
Turkey
Asia Pacific
China
Japan
India
Thailand
South Korea
Indonesia
Taiwan
Hong Kong
Philippines
Latin America
Brazil
Mexico
Argentina
Colombia
Chile
Middle East & Africa
South Africa
Saudi Arabia
UAE
Kuwait
Qatar
b. The global fundus cameras market size was estimated at USD 303.2 million in 2020 and is expected to reach USD 316.0 million in 2021.
b. The global fundus cameras market is expected to grow at a compound annual growth rate of 5.8% from 2021 to 2028 to reach USD 470.4 million by 2028.
b. North America dominated the fundus cameras market with a share of 37.0% in 2019. This is attributable to the high awareness of eye disorders, increasing chronic disorders, and technical advances in digital and handheld devices.
b. Some key players operating in the fundus cameras market 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.
b. Key factors that are driving the fundus cameras market growth include increasing eye disorders and supportive government regulations.
b. The non-mydriatic cameras accounted for the largest industry share of 49.7% in 2020, and the segment is further expected to witness substantial growth over the forecast period.
b. The ophthalmic and optometrist offices segment is projected to advance at the fastest CAGR of 6.5% through 2028, on account of the increasing number of optometrist practitioners, and the low-cost services offered by them.
b. The Asia Pacific market for fundus cameras is expected to be driven by economies such as China, Japan, India, and Australia, on account of the availability of expert services, and growing medical tourism in the region.
b. The coronavirus pandemic offered a challenge to the fundus cameras market growth, owing to factors such as the capture of inaccurate and insufficient data, which impeded the accurate tracing, management, and treatment of the disease.
b. Both non-mydriatic and mydriatic cameras are further classified into tabletop and handheld, with the tabletop sub-segment dominating the overall demand.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now
ESOMAR & Great Work to Place Certified
ISO 9001:2015 & 27001:2022 Certified
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.
"The quality of research they have done for us has been excellent."