Global Fundus Cameras Market Size Insights Forecasts to 2033

• The Global Fundus Cameras Market Size was Valued at USD 482.5 Million in 2023
• The Market Size is Growing at a CAGR of 4.13% from 2023 to 2033
• The Worldwide Fundus Cameras Market Size is Expected to Reach USD 723 Million by 2033
• Europe is Expected to Grow the fastest during the forecast period.

The Global Fundus Cameras Market Size is Anticipated to Exceed USD 723 Million by 2033, Growing at a CAGR of 4.13% from 2023 to 2033.

Market Overview

A fundus camera is a specialized low-power microscope, equipped with a camera used to capture images of the eye's interior through the pupil. These images are known as fundus photographs and are invaluable for ophthalmologists to diagnose and treat various eye conditions like glaucoma, diabetic retinopathy, and age-related macular degeneration (AMD). Fundus cameras are capable of capturing color images which helps in finding disorders and monitoring their progression over time. Some models use a black-and-white pupil image for alignment, and some use a split pupil method to establish the working distance.

Due to their size and cost, not all hospitals and clinics can afford traditional fundus cameras. But, portable handheld fundus cameras provide high-resolution images that can be transmitted to eye care providers. These handheld devices like the Optomed Aurora IQ, are portable and user-friendly, and also more affordable than confocal scanning laser ophthalmoscopy devices, making them suitable for small clinics or veterinary practices with financial constraints. These factors are boosting the global fundus camera market growth.

Moreover, their ergonomic design and intuitive controls support easy handling, reducing operator fatigue and enhancing patient comfort by eliminating the need for anesthesia. Adaptability is another key factor for market growth, as some models can also take photographs of the eye's front surfaces and utilize a cobalt blue light filter for hyperfluorescence. The immediate viewing capability of these high-quality photographs speeds up the clinic workflows, which is crucial during ophthalmic emergencies. Handheld fundus cameras are a versatile tool in both human and veterinary eye care, as Infrared digital photography enhances contrast and visualization through cloudy corneas.

Report Coverage

This research report categorizes the market for the global fundus cameras market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global fundus cameras market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global fundus cameras market.

Driving Factors

The major factors driving the fundus cameras market growth are the increasing cases of chronic diseases like hypertension, eye disorders, diabetes, and geriatrics, retinal abnormalities. Also, there has been a growing awareness of eye diseases and the launch of numerous cutting-edge products. Supportive government regulations are another major factor boosting market growth. The integration of artificial intelligence (AI), machine learning (ML), and big data into fundus cameras shows an important opportunity for market growth.

The diagnostic capabilities could be improved by the use of AI, as it has shown high accuracy in detecting diseases like diabetic retinopathy (DR), improving the diagnostic capabilities. Furthermore, the ML algorithms have shown promise in detecting at-risk eyes using preoperative fundus photography along with other data parameters that have proven the ability to detect at-risk eyes for postoperative complications after refractive surgery.

Restraining Factors

One of the challenges anticipated to hinder the growth of the global fundus cameras market is the high cost associated with fundus cameras. For example, the VisuCam 200 (Carl Zeiss), a non-mydriatic color fundus camera, costs $ 25,000 to $ 30,000, which might be significantly high for private clinics and smaller hospitals. Another market growth restraint is the competition from other developed technologies. For instance, Optical Coherence Tomography (OCT) is an advanced technology developed for retinal reimaging, which provides very detailed retina and optic nerve images and can be viewed in both 2D and 3D formats.

Market Segmentation

The global fundus cameras market share is classified into product and end-user.

• The nonmydriatic segment is expected to hold the largest share of the global fundus cameras market during the forecast period.

Based on product, the global fundus cameras market is divided into mydriatic, nonmydriatic, hybrid, ROP, and others. Among these, the nonmydriatic segment is expected to hold the largest share of the global fundus cameras market during the forecast period. The major reason for the segment’s growth is that non-mydriatic fundus cameras offer a more convenient and less intimidating imaging option for patients as pupil dilation is not required. This increases patient’s confidence in retinal screening, mainly among patients who might have been uncertain about undergoing traditional mydriatic imaging because of fear, discomfort, and inconvenience. It is most commonly used to screen individuals with curable, sight-threatening eye disorders like diabetic retinopathy, and there is expected to be a significant rise in people living with diabetes according to the International Diabetes Federation. Additionally, increasing research, developments, and technological advancements in non-mydriatic fundus cameras are expected to boost this market segment.

• The ophthalmology clinics segment is expected to hold the largest share of the global fundus cameras market during the forecast period.

Based on end-use, the global fundus cameras market is divided into hospitals, ophthalmology clinics, ophthalmic & optometrist offices, and others. Among these, the ophthalmology clinics segment is expected to hold the largest share of the global fundus cameras market during the forecast period. The primary reason for this segment’s large share is due to the increasing number of optometrist practitioners, preference for primary eye care, and low-cost services by ophthalmic and optometrist offices compared to ophthalmologists. Diagnostic accuracy and early detection of eye diseases to provide timely interventions and prevent vision loss are the main priorities for ophthalmology clinics. Fundus cameras play a critical role by producing detailed images of the retina and optic nerve, enabling the detection of retinal abnormalities, such as age-related macular degeneration (AMD), diabetic retinopathy, and glaucoma at their earliest stages. Furthermore, fundus cameras are essential tools in the comprehensive eye examinations performed in ophthalmology clinics. These examinations evaluate overall eye health by closely examining the retina, macula, optic nerve, and blood vessels. Fundus imaging gives critical insights into retinal anatomy, pathology, and vascular changes, thereby enabling the diagnosis and management of various ocular conditions.

Regional Segment Analysis of the Global Fundus Cameras Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global fundus cameras market over the predicted timeframe.

North America is anticipated to hold the largest share of the global fundus cameras market over the predicted timeframe. The North America region’s market is mainly driven by the growing elderly population and advancements in technology. The healthcare research industry in the United States is one of the world leaders in innovation. Additionally, the US healthcare market is backed by venture capital firms and the government. The healthcare infrastructure investments is also rising. The presence of key market players in the region is expected to support the fundus camera manufacturing and innovation, boosting the market growth. The market share is anticipated to be further supported by regulatory approvals, the introduction of new fundus cameras with better technology in the United States and Canada, and a high rate of technological adoption. It is expected that the growing use and adoption of fundus cameras for early detection and screening of conditions related to lifestyle-related eye diseases will propel market growth in the forecasted timeframe.

Europe is expected to grow at the fastest pace in the global fundus cameras market during the forecast period. This growth is fuelled by the presence of major market players, advancements in fundus camera technology such as enhanced user-friendliness, portability, and the development of hybrid cameras, as well as the adoption of new products. Other reasons for the region’s growth include increasing strategic partnerships and collaborations between international manufacturers, local distributors, and healthcare providers. The rising population, increasing cases of diabetic retinopathy, and the aging population are also expected to boost the region’s growth throughout the forecast period. Furthermore, government initiatives to expand access to healthcare services and improve disease management is also contributing significantly to the regional fundus camera market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global fundus cameras market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Kowa Company Ltd.
• Forus Health
• Optovue, Inc.
• Canon Inc.
• CenterVue SpA
• Carl Zeiss Meditec AG
• Medimaging Integrated Solution Inc.
• NIDEK CO., LTD.
• Remidio
• Topcon Corporation
• Hoya Corporation
• Nikon Corporation
• Carl Zeiss AG
• Optomed Oy (Ltd.)
• Clarity Medical Systems, Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In May 2024, Optomed USA, Inc., a medical technology company, introduced the Optomed Aurora AEYE, a handheld AI fundus camera that provides instant detection of more than mild diabetic retinopathy.
• In April 2023, Phelcom Eyer, launched in Japan. It is a handheld fundus camera that works coupled to a smartphone and carries out high-quality retina exams, in a few minutes, without need of pupil dilation.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global fundus cameras market based on the below-mentioned segments: 

Global Fundus Cameras Market, By Product

• Mydriatic
• Nonmydriatic
• Hybrid
• ROP
• Others

Global Fundus Cameras Market, By End-User

• Hospitals
• Ophthalmology Clinics
• Ophthalmic & Optometrist Offices
• Others

Global Fundus Cameras Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa