Report : North America 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 North America Retinal Imaging Devices Market during 2021–2028
According to our latest study on “North America 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$ 936.7 million by 2028 from US$ 629.0 million in 2021; it is expected to grow at a CAGR of 5.9% 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 COVID-19 pandemic is perplexing healthcare institutions in the region with unprecedented operational and clinical challenges. Moreover, the shift of priorities from eye disease treatment to COVID-19 diagnosis and treatment devices is leading to a decline in market growth up to a certain extent. Retinal surgical patients not only require vital ICU resources but are also potentially in the risk category of complications of COVID-19. The sustained efficacy of retinal disorder treatment depends on repeated and regular treatment until disease activity has ceased. However, most hospitals and surgical centers have considered canceling or postponed elective surgeries, including retinal surgeries due to the pandemic situation. Moreover, market players also witnessed disruption in their business operations, slumped demand for products had marginal negative impact on the North America retinal imaging devices market. Hence, the COVID 19 had somewhat negative impact on the retinal imaging devices market before the introduction of COVID-19 vaccine. However, in the long run, as the vaccination schedule is established and the transmission rate decreases, healthcare systems will return to normal and is expected to experience increased demand for retinal imaging devices.
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 North America 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, Phoenix Technology Group, LLC, Topcon Corporation are among the leading companies in the North America 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 North America 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 North America (US, Canada, Mexico).
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