Selbyville, Delaware, Sept. 06, 2019 (GLOBE NEWSWIRE) --
The Asia Pacific fundus cameras market held around USD 120 million in 2018 and will grow remarkable during the forecast period. Rising prevalence of eye diseases along with growing healthcare spending for effective eye health should foster regional growth. Additionally, rising awareness about the ophthalmic disorders, growing government support are some of the other prominent factors contributing to the growth of the market in the region.
Hospital segment accounted for about 20% revenue share in 2018 and will witness a standard CAGR by 2025. The presence of large number of hospitals, growing number of multispecialty hospitals, and increasing ophthalmic surgeries favors segmental growth. According to Laser Eye Surgery Hub, every year about 330,000 cataract operations are performed in England alone. The growing prevalence of severe eye diseases lead to surgical procedures, the fundus cameras helps to detect the disease at early stage, and this should enhance their adoption thereby, propelling the segmental growth in the fundus cameras market.
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Global Fundus Cameras Market is projected to cross USD 600 million by 2025; according to a new research report by Global Market Insights, Inc. The demand for technically advanced digital fundus cameras that are painless and provide a clear image of the eye is growing globally. Latest fundus cameras are designed to provide painless detection and provides a clearer image of part of the eye. Technologically advanced fundus cameras are automated in nature and easy to handle, they also enhance the ability of physician to sight the retina in detail, and hence the demand for such cameras should grow rapidly over the forecast years. Moreover, the prevalence of ocular diseases is growing rapidly, which is expected to increase the demand for technically advanced retinal cameras in the near future.
The numerous initiatives taken by government to provide affordable fundus cameras is anticipated to drive the fundus imaging market. For Instance, the U.S., Medicare covers the cost of glaucoma screening, ocular prosthesis, cataract surgery. Moreover, the rising number of new product launches in the U.S. has led to the acceptance of enhanced technologies by ophthalmologists. For instance, in July 2016, the U.S. FDA has approved 3D OCT-1 Maestro of Topcon Medical Systems. The growing number of new products launches should stimulate the fundus cameras market. However, the high cost of fundus cameras and less awareness in the developing region might restrict fundus photography market growth during the analysis timeframe.
Browse key industry insights spread across 160 pages with 197 market data tables & 8 figures & charts from the report, “Fundus Cameras Market Size By Product (Mydriatic Fundus Cameras [Tabletop, Handheld], Non-mydriatic Fundus Cameras [Tabletop, Handheld], Hybrid Fundus Cameras, ROP Fundus Cameras), By End-user (Hospitals, Ophthalmology clinics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Japan, China, India, Australia, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/fundus-cameras-market
Non-mydriatic fundus cameras segment is estimated to witness crucial growth of about 5% over the forthcoming years. Advancements in non-mydriatic cameras coupled with clear imaging favor the growth of the segment. The handheld non-mydriatic fundus cameras are estimated to value over USD 30 million in 2018. The handheld cameras are light in weight, portable, and their compact designs allow wireless flexibility and simple retinal imaging. These cameras provide operational ease that should increase their adoption thereby, fostering the segmental growth in the fundus cameras market.
Prominent business players operational in the fundus cameras market include Carl Zeiss Meditec, Canon U.S.A, Topcon Corporation, Revenio Group Oyj, Kowa American Corporation, NIDEK CO., LTD, OPTOMED LTD, Remidio, Optus, and Forus Health. The strategic initiatives such as partnerships and collaborations to withstand in the industry are expected to propel the growth fundus cameras significantly in the near future. For instance, in November 2018, the Chinese search engine Baidu has launched Artificial intelligence-powered fundus cameras. The camera can perceive eye fundus and produce a transmission report in seconds. Baidu has developed the system with eye hospitals in China to photograph for conditions such as macular degeneration, as diabetic retinopathy, and glaucoma. Thus, introduction to new products enlarges the product range of fundus cameras. In November 2018, Remidio has developed a phone-based fundus camera and introduced a comparison study of Remidio Fundus-On-Phone (FOP), and TOPCON TRC-50DX. The ongoing research and new developments in fundus cameras are expected to drive the fundus cameras market significantly over the forecast period.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.