Fundus Cameras Market is Expected to Reach USD 358.3 Million Globally in 2018: Transparency Market Research
Albany, New York (PRWEB) April 09, 2013
Fundus camera's market growth in recent years has been mainly driven by rise in incidence of ophthalmic diseases of old age group and new born. Old age retinal disorders such as acute macular degeneration (AMD), glaucoma and diabetic retinopathies are expected to have a high prevalence owing to the growing old age population and chronic diseases leading to fundus damage.
At the same time there has been a rise in premature births which has resulted to retinopathies of prematurity (ROP) which includes symptoms such as retinal hemorrhages, macular hemorrhage, FEVR (Familial Exudative Vitreo Retinopathy) and retinoblastoma of newborn.
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The fundus cameras are commercially available as mydriatic, non-mydriatic, hybrid, hand-held fundus cameras and ROP cameras. Hybrid cameras accounted for the largest share of the market in terms of revenue in 2011, whereas the non-mydriatic fundus cameras are anticipated to have a staggering growth at a CAGR of 7.4% from 2012 to 2018.
Hand-held fundus cameras are expected to have a healthy growth especially in emerging countries owing to its easy-to-use, portable and low prices. The mydriatic fluorescent angiography cameras have been useful for the physicians for in-depth understanding of the retinal vasculature. This market was valued to be USD 19.4 million in year 2011 and is expected to have a steady growth in the coming years.
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Technological enhancements have steamed the growth of the market with the use of software and development of digital fundus cameras. These cameras provide better images and assist in better and early diagnosis to the physicians, helping prevention of vision loss of patients. The North American region accounted for the largest market in 2011. However, healthcare cost containment issues and frugal economic situation in this region is expected to have steady growth, in near future.
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The Euro crisis is anticipated to have long lasting impact on the European economy to recover and hence has marred the overall growth of the fundus camera market here. The emerging countries namely, India, China, Brazil, Mexico, and Argentina are expected to have sturdy growth during the forecast period owing to the large patient pool of retinal disorders and rise in the disposable income.
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