Global Fundus Cameras Market to Reach US$300.5 mn by 2019, Propelled by Increasing Prevalence of Retinal Disorders
Recently, Optomed Oy, a Finland-based retinal company, received new project opportunities from Robert Bosch Venture Capital GmbH (RBVC), Germany. Seppo Kopsala, the CEO of Optomed, said that the investment from RBVC will help the company accelerate their business and advance their product development strategies. With the investment from RBVC, Optomed will grow further to become a globally recognized company, stated Seppo Kopsala. The worldwide increase in the number of chronic diseases has led to the increase in eye diseases in developing as well as developed countries, which has boosted the global fundus cameras market.
Optomed offers effective and affordable fundus screening solutions and diagnostics products in many regions across the globe. The products offered by Optomed are used by public hospitals, private clinics, charities, and non-government organizations across the world.
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Increasing Retinal Disorders to Generate Demand for Fundus Cameras
The global fundus cameras market was valued at US$220.5 mn in 2012 and is expected to reach US$300.5 mn by 2019 at a 4.50% CAGR. Factors such as the constant rise in geriatric population, technological advancements, and rising occurrence of retinal disorders are expected to propel the global fundus cameras market during the forecast period. Some of the areas where fundus cameras are used include fundus imaging, paired optic disk images, fluorescein angiography, and external photograph. Some of the commonly found retinal disorders are retinal detachment, glaucoma, diabetic retinopathy, and macular degeneration.
The global fundus cameras market is segmented on the basis of geography, end user, and product type. On the basis of end user, the global fundus cameras market is classified into hospitals, optometrist and ophthalmic offices, and ophthalmology clinics. The optometrists and ophthalmic offices sector is expected to be the fastest developing sector by 2019 due to the increase in the number of specialty clinics and use of advanced equipment. Currently, leading players in the global fundus cameras market are focusing on development of enhanced hybrid fundus cameras. Factors such as high cost of sophisticated fundus cameras and global acceptance of renovated fundus cameras are predicted to adversely affect the growth of the global fundus cameras market during the forecast period.
Increasing Incidence of Diabetic Retinopathy to Drive North America Regional Market
By geography, the global fundus cameras market is classified into North America, Asia Pacific, Europe, and Rest of the World. North America holds the dominating position in the global fundus cameras market, followed by Europe. Factors such as the growing geriatric population, increasing incidence of diabetic retinopathy, increasing popularity of advanced digital devices, and technical advancements are expected to propel the global fundus cameras market in the coming few years. Some of the leading companies in the global fundus cameras market are Clarity Medical Systems Inc., Optovue Inc., Kowa Optimed Inc., Topcon Corporation, NIDEX Co. Ltd., Canon Inc., and Carl Zeiss Meditec AG.
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Based on product type, the global fundus cameras market is classified into mydriatic fundus cameras and non-retractable fundus cameras.