Fundus Cameras Market Driven By Growing Occurrence of Retinal Disorders, Rise In Geriatric Population And Technology Advancement Till 2021 | Million Insights
Factors propelling the market growth include growing occurrence of retinal disorders, rise in geriatric population, and advancement in technologies. In addition, availability of advanced fundus optical devices such as hybrid cameras with multiple functionalities is significantly fuelling the growth of the market.
Moreover, thegrowing applications of fundus cameras in diagnosing a range of retinal disorders at an early stage haveboosted the demand for portable and high-performing fundus devices. On the other hand, there are also factors that hamper the growth of the market such as high cost related with integrating advanced technology features in fundus cameras.
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On the basis of product type, the Fundus Cameras market research report is classified as Mydriatic Fundus Cameras, Non Retractable Fundus Cameras, Hybrid Fundus Cameras and Retinopathy of Prematurity (ROP) Fundus Cameras. The Mydriatic Fundus Cameras is further sub classified as Tabletop and Handheld. The Non Retractable Fundus Cameras is further sub classified as Tabletop and Handheld.
Among the product type, Non-mydriatic fundus cameras segment is projected to account a major share of the market. The key factor that drives the growth of this segment is because this device can be used for screening of glaucoma patients and those sensitive to light.
Whereas, the Hybrid Fundus Cameras is expected to grow at the highest growth rates in the global market. The key factor that drives the growth of this segment is owed to availability of a combination of technologies in a single device. Some of the hybrid fundus cameras commercially available include VX-20 by Kowa Optimed, Inc., CX-1 by Canon, Inc., and iFusion by Optovue, Inc. In addition, these devices are easier to use and more reliable for diagnosis of vision-threatening diseases.
On the basis of end users, the Fundus Cameras market research report is classified as hospitals, ophthalmology clinics and ophthalmic and optometrist offices.Among the end users, ophthalmic and optometrist offices segment id projected to account a major share of the global market. The major share of this segment is owed to increase in the number of specialty clinics and high preference for optometrists for primary eye care.
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On the basis of geography, the Fundus Cameras market research report is classified as North America, Europe, Asia Pacific, Latin America, and Rest of the World. The North American region consists of the U.S. and Canada. The European region consists of England, Germany and Rest of Europe. Asia Pacific region consists of Australia, Japan and Rest of Asia Pacific. Latin America region consists of Brazil and Rest of Latin America.In case of geographical region, North America is projected to account a major share of the Fundus Cameras market research report. The factors that attribute to the growth of North America is due to rising awareness about eye disorders, increased healthcare expenditure, technological advancements and well established healthcare infrastructure and facilities. In addition, government support for reimbursement & screening of devices significantly fuel the growth of the market.
Europe is also projected to show significant growth rates in the Fundus Cameras market research report. On the other hand, Asia Pacific is anticipated to be the most lucrative region in the upcoming years owing to growing medical tourism and increasing awareness of retinal and ocular diseases. Also, growing awareness of treating diabetic retinopathy at an early stage in countries such as India and Japan is expected to boost the growth of this region. Furthermore, investment by the governments of several countries in Asia Pacific to develop healthcare infrastructure is considerably fuelling the growth of the market.
Some of the prominent players that fuel the market growth include Topcon Corporation, Canon, Inc., Nidek Co., Ltd., Optovue, Inc., CenterVue S.p.A., Carl Zeiss Meditec AG, Kowa Optimed, Inc., Optomed Oy (Ltd.), and Clarity Medical Systems.
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