According to our new research study on "Fundus Camera Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, End User, and Geography," the fundus camera market is expected to grow from US$ 708.01 million in 2022 to US$ 1,298.25 million by 2030; it is estimated to register a CAGR of 7.9% during the forecast period. The increase in diabetic retinopathy screening procedures and launches of innovative products are the major factors contributing to the market growth.

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 global 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 do not 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.

AI Integration with Fundoscopy

An AI-based diagnosis system that uses color fundus photographs has exhibited optimal sensitivity and specificity for diabetic retinopathy screening. In China, the Artificial Intelligent Ophthalmology Group under the Intelligent Medicine Special Committee of the China Medicine Education Association has drafted and adopted guidelines for “Artificial Intelligent Diabetic Retinopathy Screening System Based on Fundus Photography” to support the incorporation of a unified standard for AI-assisted DR screening, promote the use of AI diagnostic systems in clinical practices, and improve the levels of diabetic retinopathy diagnosis and treatment. The group has also defined specifications and recommendations for AI-assisted diabetic retinopathy screening platforms based on fundus photographs by considering system hardware parameters, equipment configuration, data collection and standards, database establishment, AI algorithm requirements, content and format of an AI screening report, and AI screening follow-up plan.

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 are among the leading companies operating in the fundus camera market.

Based on type, the fundus cameras market is segmented as mydriatic fundus camera, non-mydriatic fundus camera, hybrid fundus camera, and ROP fundus camera. The non-mydriatic fundus camera segment held the largest market share in 2022. The mydriatic fundus camera accounted a significant CAGR for the fundus cameras market. Based on portability, the global fundus cameras market is bifurcated into handheld and tabletop. The tabletop segment accounted for a larger market share in 2022. The handheld segment is expected to grow at a higher CAGR during 2020–2030. In terms of application, the fundus cameras market is segmented as diabetic retinopathy, age-related macular degeneration, retinal vascular disorders, and others. The diabetic retinopathy segment accounted for the largest fundus cameras market share in 2022. By end user, the market is segmented as hospitals, ophthalmology centers, and others. The ophthalmology centers segment held the largest market share in 2022 and will register the highest CAGR during 2020–2030. By geography, the fundus camera market is segmented into North America (US, Canada, and Mexico), Europe (France, Germany, UK, Spain, Italy, and Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and Rest of APAC), Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of MEA), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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