29 November 2019
Visiongain has launched a new pharma report ‘’Nonmydriatic Handheld Fundus Camera Market Report 2020-2030’’
The global nonmydriatic handheld fundus camera market is anticipated to grow at a lucrative CAGR of 9.6% and anticipated to reach USD 266.36 Million by 2030.
Owing to the growing geriatric population globally coupled with rising chronic diseases for example hypertension & diabetes, it has led to an increase in ocular disorder incidences. Diabetic retinopathy, age-related macular degeneration, and premature retinopathy are primary retinal disorders. This has led to growth of non-mydriatic handheld fundus cameras market for various condition detection & testing.
A report by world health organization states that by 2020 over 75 million people are expected to experience vision loss; 10% people are projected to suffer acute macular degeneration, approximately 15% of them are likely to suffer from diabetic retinopathy, and 5% people are anticipated to suffer from other eye disorders.
About 30% diabetic patients have some degree of retinopathy. Furthermore, 10% of them are prone to developing a life-threatening disease. According to a 2016 World Health Organization survey, there were over 400 million diabetic patients worldwide. In addition, the prevalence of diabetes in developed countries is expected to increase by over 40% and in developing countries by around 150-200 percent.
During the forecast period, various government policies are projected to fuel the global market. Of example, fundus imaging cameras have to be replaced once in every four years, according to laws and regulations by various medical device authorities in the U.S. as well as Japan. It helps to maintain instrument performance, while improving diagnosis and treatment. The demand for these devices is therefore likely to increase in the coming years in these developed countries.
The market has also been driven by increased prevalence of vision-related disorders, increased awareness of their therapies, and technological advances in the field. As per the National Eye Institute, in the United States people aged 40+ suffering from diabetic retinopathy are anticipated to surpass 10 million by 2030. Government initiatives are likely to drive the demand for reliable, affordable, and timely delivery of healthcare. Of example, Medicare covers the cost of cataract surgery, eye prosthesis, and screening of glaucoma. Carl Zeiss Meditec; US Ophthalmic; ELI EZER USA; GlobalMed; and Volk Optic are some of the key market players in North America.
Due to the presence of a large patient pool, enhanced healthcare services, and increased medical tourism in the region, Asia Pacific is projected to be one of the fastest-growing regional markets over the forecast period. This region's players are focused on introducing new, innovative and improved products to the market.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations and launching new products in order to strengthen their position in the global nonmydriatic handheld fundus camera market. Companies are also expanding their R&D, distribution, and management facilities in order to expand their business and to hold a competitive edge in the Nonmydriatic Handheld Fundus Camera market.
The comprehensive market report features companies such as Canon, Inc., Carl Zeiss Meditec, Inc., CenterVue SpA, Clarity Medical Systems, Inc., Kowa Company Ltd., NIDEK Co., Ltd., Optomed Oy (Ltd.), Optovue, Incorporated, Topcon Medical Systems, Inc., Veatch Ophthalmic Instruments among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020-2030 for global markets such as North America, Latin America, Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Japan, China, Australia, ASEAN, GCC and South Africa.
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