At 8.6% CAGR, the Asia Pacific Fundus Cameras Market is Projected to be worth US$ 331.38 million by 2030, says Business Market Insights
According to Business Market Insights research, the Asia Pacific fundus cameras market was valued at US$ 171.61 million in 2022 and is expected to reach US$ 331.38 million by 2030, registering a CAGR of 8.6% from 2022 to 2030. Increase in diabetic retinopathy screening procedures and launches of innovative products are the critical factors attributed to the Asia Pacific fundus cameras market expansion.
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 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 don't need to 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.
On the contrary, incorrect clinical diagnosis due to distorted fundus photography hurdles the growth of Asia Pacific fundus cameras market.
Based on type, the Asia Pacific fundus cameras market is categorized into mydriatic fundus camera, non-mydriatic fundus camera, hybrid fundus camera, and ROP fundus camera. The non-mydriatic fundus camera segment held 46.4% market share in 2022, amassing US$ 79.67 million. It is projected to garner US$ 152.64 million by 2030 to expand at 8.5% CAGR during 2022-2030.
Based on portability, the Asia Pacific fundus cameras market is bifurcated into handheld and tabletop. The tabletop segment held 60.7% market share in 2022, amassing US$ 104.24 million. It is projected to garner US$ 196.80 million by 2030 to expand at 8.3% CAGR during 2022-2030.
Based on application, the Asia Pacific fundus cameras market is categorized into diabetic retinopathy, age-related macular degeneration, retinal vascular disorders, and others. The diabetic retinopathy segment held 55.0% market share in 2022, amassing US$ 94.36 million. It is projected to garner US$ 189.79 million by 2030 to expand at 9.1% CAGR during 2022-2030.
Based on end user, the Asia Pacific fundus cameras market is categorized into hospitals, ophthalmology centers, and others. The hospitals segment held 49.8% market share in 2022, amassing US$ 85.43 million. It is projected to garner US$ 165.25 million by 2030 to expand at 8.6% CAGR during 2022-2030.
Based on country, the Asia Pacific fundus cameras market has been categorized into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that Japan captured 26.0% share of Asia Pacific fundus cameras market in 2022. It was assessed at US$ 44.67 million in 2022 and is likely to hit US$ 90.00 million by 2030, exhibiting a CAGR of 9.2% during 2022-2030.
Key players operating in the Asia Pacific fundus cameras market are Nikon Corp, Topcon Corp, NIDEK CO LTD, Canon Inc, Carl Zeiss AG, Visionix USA Inc, Kowa Co Ltd, and Volk Optical Inc, among others.
In Oct 2021, NIDEK Launched Retina Scan Duo 2 OCT / Fundus Camera.
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