Fundus Camera Market

Global Fundus Camera Market Size (2024 to 2032)

The size of the global fundus cameras market was worth USD 577.4 million in 2023. The global market is anticipated to grow at a CAGR of 5.77% from 2024 to 2032 and be worth USD 957 million by 2032 from USD 611 million in 2024. 

A fundus camera is a low-power microscope with an attached camera that takes images of the inside of the eye. These photos are used to diagnose and treat a variety of eye diseases. With many market players and purchasers, it is a great competitive market. Players in the fundus camera market compete on pricing, product innovation, and quality. The fundus comprises ten semi-transparent layers, each with its function in the visual perception process. The central and peripheral retina, optic disc, and macula are the main structures visible using a fundus camera. A fundus camera is used to diagnose glaucoma, diabetic retinopathy, retinal detachment, and age-related macular degeneration, among other retinal problems.

MARKET DRIVERS

In emerging countries, the population of adults aged 65 and up is steadily increasing. During the forecast period, the rise in the global older people will be a significant factor driving the fundus camera market. During the forecast period, advancements in the digital camera, red-free fundus camera, film-based fundus camera, and others for precise and in-depth fundus imaging and the increased acceptance of these new technologies in emerging nations are expected to drive the market. The technological advances that provide the market expansion are smartphone-based fundus photography. Compared to slit-lamp biomicroscopy, it uses the DR with smartphone images, which is significantly more affordable.

Hybrid cameras combine optical coherence tomography (OCT) and fundus photography, making them more advantageous than individual fundus photography techniques. As a result, these advancements are expected to accelerate market expansion shortly. For companies in the worldwide fundus cameras market, R&D in fundus photography is likely to offer lucrative growth opportunities. Furthermore, rising public awareness of eye problems, combined with increasing consumer willingness to spend on eye therapies, drives market growth opportunities for market players over the forecast period.

MARKET RESTRAINTS

The expensive cost of fundus cameras and the scarcity of ophthalmologists in emerging economies could limit the market's growth. In addition, in developing countries, a lack of awareness among patients is predicted to restrict the use of fundus cameras.

Impact of COVID-19 on the Global Fundus Camera Market

The COVID-19 pandemic has had a significant global impact on population health and the economies of the majority of countries. The pandemic has wreaked havoc on the world's healthcare systems. To reduce disease spread and conserve healthcare resources for COVID-19 patients, healthcare institutions and providers have been urged to avoid undertaking elective surgical operations and medical evaluations. As a result, imaging cases have decreased significantly in many ophthalmology departments. Depending on the location of practice and the severity of the COVID-19 pandemic in each region, ophthalmology clinics are expected to drop imaging volume. COVID-19 has had a detrimental influence on the market since the data collected during the pandemic was insufficient to diagnose the eye condition. A lack of data made it difficult to track down disease, manage it, and treat it. On the other hand, handheld fundus cameras may be a practical choice in this pandemic because of their portability, which will aid in capturing the retinal alterations in COVID-19 patients in various settings or locales. As a result, the market is predicted to grow slightly during this pandemic.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Fundus Camera Market Analysis By Product

• Mydriatic Fundus Cameras
• Non-Mydriatic Fundus Cameras        
• Hybrid Fundus Cameras        
• ROP Fundus Cameras

The fundus camera market offers lucrative growth opportunities for non-mydriatic fundus cameras based on the product. A non-mydriatic fundus camera employs the reflecting qualities of the retina to show details and store images that are superior to slit lamps and other commonly used equipment. In addition, it does not necessitate pupil dilation in most situations and is painless for patients.

Global Fundus Camera Market Analysis By Portability

• Handheld            
• Tabletop   

In 2021, the tabletop segment led the fundus camera market, expected to continue during the forecast period. This is due to the benefits of these cameras, which eliminate the use of strong lights and dilating drops, making fundus photography more patient-friendly.

Global Fundus Camera Market Analysis By End-User

• Hospitals
• Ophthalmology Clinics
• Ophthalmic & Optometrist Offices

Due to the strong choice of ophthalmology clinics for primary eye care, the ophthalmology clinics segment is expected to have the highest market share. Low waiting times, increased productivity, and better patient care are advantages of ophthalmology clinics. In addition, the segment will rise because of the increased preference of patients for ophthalmologists and the presence of well-established ophthalmic clinics in both developed and emerging nations. Furthermore, the segment will benefit from an increase in the number of eye care clinics that can give accurate diagnoses to patients.

REGIONAL ANALYSIS

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

North America held the most significant proportion of the global fundus camera market. In the recent decade, diabetes has become much more common in North America, and diabetic people are at a substantially higher risk of diabetic retinopathy than non-diabetics. Furthermore, the market in this region is growing due to an increase in the senior population, higher healthcare expenditures, and government support for reimbursement and device screening. Additionally, the approval and launch of fundus cameras in the United States and Canada and the widespread use of new technologies are expected to raise market share. Therefore, increasing the use of fundus cameras for early detection and screening of diseases other than eye disorders, such as lifestyle-related diseases, is expected to drive the market during the forecast period.

Due to the local presence of important players, availability of professional services, and expanding medical tourism, Asia-Pacific is predicted to develop quickly over the forecast period. In addition, the fundus camera market is also being driven by increased awareness in the region about retinal and ocular disorders and a rising understanding of treating diabetic retinopathy. This is due to key market participants on the ground and a substantial senior population pool. In contrast, China is expected to be the fastest-growing market in the Asia Pacific throughout the forecast period.

Due to the local presence of significant market participants, technological improvements in fundus cameras, such as ease of use, portability, the development of hybrid cameras, and acceptance of newer products, the market in Europe is expected to grow at a CAGR of 5.8% over the forecast period.

KEY MARKET PARTICIPANTS

Carl Zeiss Meditec AG, Kowa Company, Ltd., Optomed Plc, Optovue Incorporated, Topcon Corporation, Clarity Medical Systems, Inc., Canon Inc., Epipole Ltd, Revenio Group Corporation (Centervue SPA), and Clarity Medical Systems, Inc. are some of the noteworthy companies operating in the global fundus camera market profiled in this report.

RECENT HAPPENINGS IN THIS MARKET

• Samsung's EYELIKETM Fundus Camera, released in 2021, repurposed Galaxy smartphones to improve access to eye care.
• Topcon purchased VISIA Imaging S.r.l, an Italian ophthalmic medical equipment producer, in 2021.