At 7.8% CAGR, the Europe Fundus Cameras Market is Projected to be worth US$ 337.55 million by 2030, says Business Market Insights

According to Business Market Insights research, the Europe fundus cameras market was valued at US$ 184.87 million in 2022 and is expected to reach US$ 337.55 million by 2030, registering a CAGR of 7.8% from 2022 to 2030. Increase in diabetic retinopathy screening procedures and launches of innovative products are the critical factors attributed to the Europe fundus cameras market expansion.

The evolution of high-resolution smartphone cameras can revolutionize traditional fundus photography. For example, ophthalmologists are bringing innovations in the field of fundoscopy by exploring the possibility of replacing binocular indirect ophthalmoscopes with a smartphone. Smartphone-aided fundoscopy is a high-tech, low-cost imaging alternative that benefits users through the portability of a device. The smartphone camera comes equipped with light sources. Moreover, the device provides ready access to secure networks for data transmission. Mobile devices integrated with augmented reality create an entirely new fundoscopy experience. Companies in the fundus camera market, in collaboration with MedTech businesses, are working on app-based fundoscopy to simplify the eye examination process. For example, the Ullman Indirect App allows users to control the functionality of the corresponding smartphone camera. Through its advanced features, the app enables a manual focus of the camera and saving of focal points of the eye, manual control of the camera exposure, regulation of the flashlight intensity, rotation of images and videos for documenting the findings in a correct orientation, and the export of high-quality images without the need for a screenshot.

On the contrary, incorrect clinical diagnosis due to distorted fundus photography hurdles the growth of Europe fundus cameras market.

Based on type, the Europe 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 46.7% market share in 2022, amassing US$ 86.28 million. It is projected to garner US$ 162.12 million by 2030 to expand at 8.2% CAGR during 2022-2030.

Based on portability, the Europe fundus cameras market is bifurcated into handheld and tabletop. The tabletop segment held 61.9% market share in 2022, amassing US$ 114.36 million. It is projected to garner US$ 204.76 million by 2030 to expand at 7.6% CAGR during 2022-2030.

Based on application, the Europe fundus cameras market is categorized into diabetic retinopathy, age-related macular degeneration, retinal vascular disorders, and others. The diabetic retinopathy segment held 56.1% market share in 2022, amassing US$ 103.79 million. It is projected to garner US$ 199.35 million by 2030 to expand at 8.5% CAGR during 2022-2030.

Based on end user, the Europe fundus cameras market is categorized into hospitals, ophthalmology centers, and others. The hospitals segment held 49.9% market share in 2022, amassing US$ 92.33 million. It is projected to garner US$ 173.59 million by 2030 to expand at 8.2% CAGR during 2022-2030.

Based on country, the Europe fundus cameras market has been categorized into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 26.0% share of Europe fundus cameras market in 2022. It was assessed at US$ 48.07 million in 2022 and is likely to hit US$ 90.86 million by 2030, exhibiting a CAGR of 8.3% during 2022-2030.

Key players operating in the Europe fundus cameras market are 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, among others.

• In Aug 2021, Automated fundus screening by Thirona RetCAD is now available with NIDEK fundus cameras.
  
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