Report : Europe Retinal Imaging Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Device Type (Fluorescein Angiography, Fundus Camera, and Optical Coherence Tomography) and End User (Hospitals & Clinics, Ambulatory Surgical Centers, Specialized Eye Care Centers, and Other End Users)

Fundus Camera Segment has the Largest Share of Device Type in the Europe Retinal Imaging Devices Market during 2021–2028

According to our latest study on “Europe Retinal Imaging Devices Market Forecast to 2028 – COVID-19 Impact and Analysis – by Device Type, and End User,” the market is projected to reach US$ 840.7 million by 2028 from US$ 590.9 million in 2021; it is expected to grow at a CAGR of 5.2% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as rising prevalence of eye diseases, growing initiatives for blindness and technological advancements. However, the high cost of OCT devices is expected to hamper the growth of the market during the forecast years.

The retinal imaging devices market witnessed a shortfall at the beginning of the COVID-19 crisis due to disruption in the supply chain and slumped demand due to the lockdown announced by most European countries that caused disruptions in manufacturing and operations in the sector. For instance, according to Optomed's financial 2020, the devices segment’s revenue decreased by 30.3%. The decrease was a result of COVID-19 pandemic causing a decline in OEM sales. Additionally, appointments and operations have been delayed in many clinics around the world due to increasing cases, as approximately 40% of the diagnosed COVID-19 cases required hospitalization; and some critical cases were admitted to intensive care units (ICU). According to an article in Vascular News, in the first week of the pandemic outbreak, there was an 80 percent reduction in beds and an 84 percent reduction in operating rooms for elective procedures, with 43 percent of hospitals in Italy not doing any elective surgery. With the number of rising cases, there was a significant decrease in procedures due to a lack of healthcare resources. It also impacted the new product launches, impacting sales and growth of the market in the region. However, with the implementation of proper guidelines and protocols by the European Commission to reduce SARS-CoV-2 exposure and ease in restrictions on movement due to the establishment of COVID-19 vaccines, the market is expected to grow in the forecast period.

Based on device type, the retinal imaging devices market is segmented into fluorescein angiography, fundus camera, and optical coherence tomography. In 2020, the fundus camera segment accounted for the largest market share in the Europe retinal imaging device market by device type owing to advancement in the technology related to retina imaging technology. The optical coherence tomography is expected to be the highest growing segment during the forecast period. The growth is expected due to the factors such as growing prevalence of retina related disorders.

Carl Zeiss Meditec AG, Revenio Group Corporation (CenterVue SpA), Epipole Ltd., Eyenuk, Inc., Forus Health Pvt Ltd, Imagine Eyes, Nikon Corporation, Optomed Plc, and Topcon Corporation are among the leading companies in the Europe retinal imaging devices market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The market for retinal imaging devices market is segmented into device type, and end user. Based on device type, the Europe retinal imaging devices market is segmented into fluorescein angiography, fundus camera, and optical coherence tomography.  Based on end user, the retinal imaging devices market is segmented into hospitals & clinics, ambulatory surgical centers, specialized eye care centers, other end users. Geographically, the retinal imaging devices market is segmented into Europe (Germany, UK, France, Spain, Italy, Rest of Europe).

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