Fundus Camera Market is expected to reach US$ 1,298.25 million by 2030

Publisher: The Insight Partners

Ophthalmology Centers Segment to Account for Largest Share in Fundus Camera Market During 2020–2030

According to our latest study on Fundus Camera Market Forecast to 2028 – Global Analysis – by Type, Portability, Application, and End User," the market is expected to grow from US$ 708.01 million in 2022 to US$ 1,298.25 million by 2030; it is expected to register a CAGR of 7.9% from 2020 to 2030. The report highlights the key factors driving the market growth and prominent players with their developments in the market.       

Increasing Organic and Inorganic Strategies by Key Players Provides Lucrative Market Opportunities

Various organic and inorganic strategies are adopted by companies operating in the global fundus camera market. Organic strategies mainly include product launches and product approvals. Further, acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall market growth. Further, acquisition and partnership strategies help the market players strengthen their customer base and expand their product portfolios. A few of the significant developments by key players operating in the global fundus camera market are listed below.

Global Fundus Camera Market, by Region, 2022 (%)

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Source: The Insight Partners Analysis

• In October 2022, Topcon Healthcare launched the NW500—a new fully automatic, non-mydriatic retinal camera that delivers reliable, sharp-quality imaging with enhanced capability.
• In October 2021, NIDEK CO., LTD. launched the Retina Scan Duo 2—a combined OCT and fundus camera system. The Retina Scan Duo 2 incorporates new features enhancing screening and clinical efficiency in addition to user-friendly features that were incorporated from the previous model.
• In August 2021, Thirona B.V., a global player and NIDEK CO., LTD., launched connectivity between the RetCAD artificial intelligence eye disease detection software by Thirona and the NAVIS-EX image filing software by NIDEK. This connectivity allows instant screening of age-related macular degeneration (AMD) and diabetic retinopathy (DR) on color fundus images captured by the AFC-330 and Retina Scan Duo from NIDEK.

Thus, various organic and inorganic strategies adopted by the key market players are anticipated to provide additional opportunities for the growth of the fundus camera market during the forecast period.

The European fundus camera market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. As per the statistics presented in the British Journal of Ophthalmology, by 2050, 77 million Europeans will be affected by irreversible blindness and severely impaired eyesight due to age-related macular degeneration. According to the American Academy of Ophthalmology 2023 report, 3–4.1% of

Europeans are affected by diabetic retinopathy owing to the rising incidence of type 2 diabetes.

Source: American Academy of Ophthalmology 2023 Report

The World Health Organization (WHO) also reported that Scotland witnessed an increasing number of people suffering from diabetes. Moreover, the UK is the largest country in Europe with nationwide screening for all patients suffering from diabetes mellitus above the age of 12 years, comprising 9 million patients in total, accounting for 6% of the population. The rising technological advancements in fundus cameras have promoted its adoption in Europe. In August 2022, Formycon AG (“Formycon”), Polpharma Biologics Group BV (“Polpharma Biologics”), and Bioeq AG (“Bioeq”) announced that the European Commission (EU) granted marketing authorization for "Ranivisio" (Ranivisio – Ranibizumab), a biosimilar to Lucentis intended to treat several serious retinal diseases in the EU. Thus, the fundus cameras market in Europe is anticipated to flourish during 2022–2030.

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 leading companies operating in the global fundus camera market.    

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