US Fundus Camera Market is expected to reach US$ 142.07 million by 2028

Publisher: The Insight Partners

According to our new research study on “US Fundus Camera Market Size and Forecast to 2028 – COVID-19 Impact and Country Analysis – by Type, Portability, Application, and End User,” the market is expected to grow from US$ 106.72 million in 2022 to US$ 142.07 million by 2028; it is estimated to record a CAGR 4.96% during 2023–2028. 

Factors such as the increase in diabetic retinopathy and launches of innovative products are driving the US fundus camera market growth. However, incorrect clinical diagnosis due to distorted fundus photography restricts the growth of the market.

A fundus camera is an instrument intended for fundus photography. Fundus photography captures images of the retina, optic nerve head, macula, retinal blood vessels, choroid, and vitreous. Fundus photography directly impacts the detection and screening of various cases of treatable and preventable blindness, particularly diabetic retinopathy, age-related macular degeneration, glaucoma, and retinopathy of prematurity.

Launches of Innovative Products

Medical device companies focus on the development and launch of new products, along with obtaining approvals from corresponding regulatory bodies. A few of the recent developments fostering the global fundus market are mentioned below.

In October 2021, NIDEK CO., LTD. announced the launch of "Retina Scan Duo 2," a combined optical coherence tomography (OCT) and fundus camera system. The newly launched product aids in enhanced eye screening and clinical efficiency with user-friendly features. Retina Scan Duo 2 incorporates a novel image enhancement technique that generates an HD image from a single-frame image, ensuring great patient comfort.

In January 2023, Topcon Healthcare, a leading provider of medical devices and software solutions, announced the launch of "NW500," a user-friendly, robotic fundus camera ensuring to deliver reliable and sharp-quality images. The new product also enables a streamlined workflow in diagnostic laboratories, enhancing the patient experience and allowing the screening personnel to acquire retinal images in well-lit settings. Moreover, they need not ask patients to dilate their eyes. Further, the product provides excellent quality color fundus images across the three traditional fixation points (disc, center, and macula) and the nine fixation positions for peripheral photography.

In June 2021, Coburn Technologies announced the launch of the HFC-1 Non-Mydriatic Fundus Camera, a new retinal camera manufactured by Huvitz, Co., Ltd. With a highly accurate autodetection technology, the products are intended to produce sharp, quick, and reliable retinal imaging and measurements.

Such product developments and launches are accelerating the US fundus camera market expansion accounting largest market share during the forecast period.

Impact of COVID-19 Pandemic on US Fundus Camera Market

As the number of COVID-19 cases climbs in the US, many aspects of quarantine are becoming semi-permanent at the very least. The prolonged shut-in situation is devastating news for countless industries impacted by business closures, but there are bright spots for sectors that have thrived amid the global health crisis so far. The first wave of the pandemic extensively influenced the fundus camera market since the utilization of fundus cameras was decreased in eye care clinics due to the lockdown. For instance, as per the article published in August 2022 in MDPI journal, the lockdown due to the COVID-19 pandemic had a major impact on ophthalmic outpatient care as hundreds of appointments were cancelled. This affected the course of the disease, which led to negligence of existing symptoms, a delay in vision-saving interventions, or even a suspension in detecting potentially sight-threatening complications, all of which may contribute to a worsening of visual outcomes. Thus, the utilization of fundus cameras was reduced and thereby impacted the market growth. However, with the reopening of ophthalmic consultations and decreasing cases of COVID-19, the market is likely to regain its growth trajectory during the forecast period.

US Fundus Camera Market: Competitive Landscape and Key Developments

Nikon Corp, Topcon Corp, NIDEK CO LTD., Canon Inc, Carl Zeiss AG, Visionix USA Inc, Kowa Co Ltd, CenterVue SpA, Volk Optical Inc, and Digital Eye Center are among the major players in the US fundus camera market. Leading players adopt strategies such as the launch of new products, expansion and diversification of their market presence, and expansion of new customer base for tapping prevailing business opportunities.

The report segments the US Fundus Camera market as follows:

The US fundus camera market is segmented on the basis of  type, portability, application, and end user. Based on type, the market is segmented into mydriatic fundus camera, non-mydriatic fundus camera, hybrid fundus camera, and ROP fundus camera. By portability, the US fundus camera market is bifurcated into handheld and tabletop. In terms of application, the market is segmented as diabetic retinopathy, age-related macular degeneration, retinal vascular disorders, and others. By end user, the US fundus camera market is segmented into hospitals, ophthalmology centers, and others.

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