The global fundus camera market size was valued at $445.60 million in 2020, and is estimated to reach $710.20 million by 2030, growing at a CAGR of 4.50% from 2021 to 2030.
Fundus camera capture the photographs of the back of the eye, which is called as fundus. In addition, fundus mainly consists of 10 semi-transparent layers that serve a specific function in the process of visual perception. The main structure that can be visualized on fundus camera is the central and peripheral retina, optic disc and macula. Fundus camera is used to diagnose various types of retinal disorders such as glaucoma, diabetic retinopathy, retinal detachment, and age-related macular degeneration.
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Diabetes eye disorders include diabetic retinopathy, diabetic macular edoema, glaucoma and cataract. In America, diabetic retinopathy patients are projected to double, from 7.7 million in 2010 to 14.6 million by 2050, according to the National Eye Institute (NEI). In addition, advancement is expected to drive the market. The COVID-19 had a negative impact on the market as it was not accurate and sufficient in the data collected during the pandemic to identify the eye condition. The tracing of disease, its management, and treatment were all hampered by a lack of data. However, portable fundus cameras may be an excellent option to capture retinal changes in COVID-19 patients present at multiple locations or environments. This pandemic may also improve portability.
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Depending on end user, the global fundus camera market is segregated into hospital, ophthalmology clinics, and others (ophthalmic & optometrist offices). The hospitals segment led the market in 2020, and is anticipated to maintain its lead during the forecast period. This is attributed to increased acceptance by optometrists for primary eye care, and attendance of well-equipped hospitals in developing countries.
North America was the largest shareholder in the global fundus camera market in 2020. Diabetes has become much more prevalent in North America during the last decade and diabetic patients are at a much higher risk for diabetic retinopathy than non-diabetics. Moreover, growing geriatric population, increased healthcare expenditure, and government support for reimbursement and device screening is also responsible for the growth of market in this region. On the other hand, Asia-Pacific is expected to grow at the fastest rate in the forecasted years due to local presence of key players, availability of expert services, and growing medical tourism. Increased awareness in the region about retinal and ocular illnesses as well as rising awareness about treating diabetic retinopathy, is also driving the fundus cameras market.
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- By product, the non-mydriatic cameras segment was the highest contributor to the fundus camera market in 2020.
- By portability, the tabletop segment was the highest contributor to the market in 2020.
- By end user, the hospitals segment is projected to grow at a significant CAGR of 4.10% from 2021 to 2030.
- By region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the review period.]
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