Global fundus camera market is anticipated to flourish at a CAGR of 6.5% over the forecast period. Further, the factors propelling the growth of fundus camera
The global fundus cameras Market is segmented into product type such as mydriatic fundus cameras, non-mydriatic fundus cameras, hybrid fundus cameras and ROP fundus cameras. Further, non-mydriatic fundus cameras has been the largest segment in 2016 and it is expected to garner at a CAGR of 7.1% during the forecast period. Further, hybrid fundus camera accounted for the highest CAGR during the forecast period. Likely, rising demand for advance healthcare products is projected to foster the growth of fundus camera market.
Global fundus cameras market is expected to register a 6.5% CAGR over the forecast period. Moreover, the global fundus cameras market is anticipated to reach USD 685 million globally by 2024. The market is expected to expand on the back of favorable government policies and increasing retinal disease.
The hospitals segment by end user is anticipated to post a substantial CAGR by 2024. Moreover, hospitals segment is anticipated to account for the largest share in the revenue across the globe. In addition to this, North America and Europe are the prominent regional market of fundus cameras in 2016. Furthermore, growing awareness among the population regarding treating diabetic retinopathy at an early stage is expected to boost the growth of fundus cameras market in these regions.
Favorable government initiatives
Increasing investment by government to develop healthcare infrastructure and rising GDP figures of developing and developed nations such as U.S., China and others are believed to boost the demand for fundus cameras. Moreover, implementation of fundus camera in various hospitals and ophthalmology clinics for the treatment of eye related diseases is predicted to intensify the demand for fundus cameras. Likely, these factors are anticipated to flourish the growth of fundus camera market over the forecast period.
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Advancement in medical technology
Growing demand for innovative medical technology for the treatment of numerous eye disorders and growing awareness regarding eye health among the population are bolstering the growth of fundus cameras market. Additionally, growing geriatric population and rising prevalence of retinal detachment and diabetic retinopathy are envisioned to strengthen the growth of fundus camera market.
However, high cost of fundus camera is expected to hamper the growth of fundus camera market over the forecast period. Moreover, low adoption of fundus camera in underdeveloped and developing nations is also projected to dampen the growth of Fundus Camera Market. The report titled “Fundus Cameras Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global fundus camera market in terms of market segmentation by product type, by end-user type, by distribution channel and by region.Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global fundus camera market which includes company profiling of Topcon Corporation, Canon, Nidek Co., Optovue, CenterVue S.p.A., Carl Zeiss Meditec AG, Kowa Optimed, Inc., Optomed Oy (Ltd.), Clarity Medical Systems and Epipole Ltd.. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fundus camera market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Source: EIN Presswire