Fundus photography documents the retina, the neurosensory tissue in the eyes, which translates the optical images into the electrical impulses. It finds application in eye condition/disease such as diabetes, age-macular degeneration (AMD), glaucoma, and neoplasm of the choroid, cranial nerves, retinal or eyeball, and diabetic retinopathy.
The global fundus cameras market is expected to surpass US$ 537.9 Mn in terms of value by the end of 2028.
Global Fundus Cameras Market: Drivers
Increasing prevalence of age-macular degeneration is expected to propel growth of the global fundus cameras market over the forecast period. For instance, according to Bright Focus Foundation, around 11 million people in the U.S. have some form of age-related macular degeneration and the number is expected to double to nearly 22 million by 2050.
Global Fundus Cameras Market: Opportunities
Approval and launch of autonomous AI systems is expected to offer lucrative growth opportunities for players in the global fundus cameras market. For instance, in August 2020, the U.S. Food and Drug Administration granted 510(k) clearance to EyeArt autonomous AI System for detecting diabetic retinopathy. The system can be used with 2 models of fundus camera, the Canon CR-2 AF and Canon CR-2 Plus AF, in primary care and eye care settings.
Global Fundus Cameras Market: Recent Developments
In November 2020, Optomed has launched Aurora IQ, a handheld fundus camera with integrated artificial intelligence for speedier eye inspection.
In November 2020, Volk Optical announced the release of VistaView, a portable mydriatic fundus camera to eliminate preventable blindness through accessible eye imaging.
In October 2019, Intelligent Retinal Imaging Systems, Inc. (IRIS), has collaborated with Remidio Breakthrough Solutions Pvt Ltd to bring their innovative smartphone-based non-mydriatic fundus camera to the US market
Global Fundus Cameras Market: Restraints
Low ratio of ophthalmologists in emerging economies is expected to hinder growth of the global fundus cameras market. For instance, in March 2020, according to the study, “Estimated number of ophthalmologists worldwide (International Council of Ophthalmology update): will we meet the needs?” published in March 2020, in 2015, the ratio of ophthalmologists per million population for low-income countries was 3.7 compared to 76.2 for high-income countries.
Covid-19 Impact Analysis:
The COVID-19 pandemic has spread to several countries. In the U.S., from 3 January 2020 to 4:47pm CEST, 10 September 2021, there have been 40,330,381 confirmed cases of COVID-19 with 649,292 deaths, reported to WHO. As of 2 September 2021, a total of 373,635,560 vaccine doses have been administered. Covid-19 may lead to conjunctivitis, conjunctival hyperemia, and cotton wool spots. Several studies have reported presence of the novel coronavirus RNA in tears and conjunctival samples from the infected individual.
The global fundus cameras market is witnessing launch of artificial intelligence-powered fundus camera. For instance, in November 2018, Baidu, a China-based search engine, unveiled a new artificial intelligence-powered tool aimed at detecting ocular fundus, which can lead to blindness.
The fundus cameras market in North America is driven by increasing geriatric population. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.
Global Fundus Cameras Market: Competitive Landscape
Major players operating in the global fundus cameras market include, Carl Zeiss AG, Hoya Corporation, Canon Inc., Nidek Co., Ltd., Topcon Corporation, and Intelligent Retinal Imaging Systems, Inc.
Global Fundus Cameras Market: Key Developments
Major players in the market are focused on launching new products to expand their product portfolio. For instance, in August 2019, Topcon Medical Systems, Inc. launched the Maestro2 Automated OCT/Fundus Camera, with OCTA.
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