LONDON, May 2, 2017 /PRNewswire/ -- The global fundus camera market is expected to reach a value of USD 625.1 million by 2024, based on a new report by Grand View Research, Inc. Rising geriatric population and growing occurrences of chronic disorders such as diabetes and hypertension further increase the incidence of retinal disorders.
· Asia Pacific is anticipated to be the fastest growing segment during the forecast period.
· North America dominated the market in 2015 and is expected to maintain its position during the forecast period
For instance, according to the WHO 2016 report, globally, there were about 422 million diabetic patients (8.5% of total population) in 2014, as compared to 108 million in 1980. Furthermore, it also states that there is a decline in blindness caused by infections such as trachoma and onchocerciasis, and an increasing trend of non-communicable causes of blindness such as Age-related Macular Degeneration (AMD), glaucoma, and Diabetic Retinopathy (DR). Availability of advanced fundus devices such as portable and hybrid cameras at affordable rates is expected to boost the fundus camera industry during the forecast period.
In addition, supportive government regulations for medical devices are anticipated to drive the market over the coming years. For instance, regulatory agencies in the U.S. and Japan require the fundus imaging cameras to be replaced once in every 4 years. Hence, the demand of fundus cameras is consistent in these regions.
Further Key Findings from the Study Suggest:
Non-mydriatic fundus cameras segment dominated the market in 2015 due to an increased demand, as it enables the practitioner to view the retinal anatomy in detail and provides enhanced diagnosis and management of eye diseases.
Non-mydriatic and mydriatic camera can be further sub-segmented into tabletop and handheld cameras. Tabletop cameras segment dominated in 2015 because of the availability of a higher number of commercialized products and ability to produce a better image quality than handheld products.
By end use, ophthalmic & optometrist offices accounted for the largest share of the market in 2015 due to the availability of well-equipped offices in North America and Europe, and preference of patients for primary eye care.
North America dominated the market in 2015 and is expected to maintain its position during the forecast period, due to the local presence of major players and increased awareness about eye disorders.
Asia Pacific is anticipated to be the fastest growing segment during the forecast period due to rising healthcare expenditure and increasing cases of retinal detachment, DR, and AMD.
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