Global Retinal Imaging Devices Market by Type (Fundus CameraOptical Coherence Tomography (Optical Coherence Tomography OCT, Fundus Camera), by End-use (ASCs, Ophthalmic Care Centers, Hospitals) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global market for retinal imaging devices was worth USD 4.3 billion in 2018. It is expected to grow at 6.7% CAGR by 2026. Market growth is expected to be driven by the rising prevalence of ophthalmic diseases and increased demand for early diagnosis measures. In 2017, for example, 34 million European Union citizens were affected by age-related macular disease (AMD). This patient pool is expected increase approximately 25% between 2017 and 2050.

Market leaders are regularly launching advanced retinal imaging products. Optos, for example, launched Monaco in May 2018. This ultra-wide-field imaging device was combined with OCT in the U.S. OCT has been integrated into this device, allowing practitioners to diagnose and treat retinal disease with a higher success rate. The market is set to grow in the future with the integration of imaging modalities and artificial intelligence, as well as the development of portable devices.

Market growth is largely due to the increasing competition and the volume of strategic initiatives by both major and smaller market players. The top of the pyramid is known for its strategic initiatives, which include acquisitions and mergers. The middle and lower levels of competition pyramid are focused on regional expansion and technological development. In 2018, Optos announced a clinical alliance with Amydis. The alliance focuses on the development of an eye test by Amydis to detect Alzheimer's disease. Amydis is constantly developing compounds to detect amyloid proteins within the retina with Optos' optomap ultra widefield retinal imaging devices.

The ZEISS Medical Technology Business Group released two new technologies, Swept-Source OCT and OCT Angiography technology, at the ARVO 2017 Annual Meeting. These technologies were created using ZEISS Open Innovation approach and Advanced Retina Imaging Network (ARI) Network. These strategic initiatives will increase as there is increasing demand for advanced retinal imaging technologies.

However, market growth will be impeded by factors like the high price of advanced retinal imaging equipment such as OCT and fundus camera. In the coming years, demand for these devices will be limited by a shortage of qualified medical professionals.

Type Insights

The market for retinal imaging devices can be divided into three types: OCT, fundus camera and fluorescein. The market share of the fundus camera was the highest in 2018, largely because of its ergonomics and portability. Market growth is expected to be driven by the increasing number of fundus camera installations in conjunction with ambulatory eye care centers and ophthalmic clinics.

The adoption of sophisticated imaging devices is increasing due to increased awareness and training programs in ophthalmology. The OCT segment is expected to grow at the fastest rate over the forecast period. Its effectiveness and precision in diagnosing disease is responsible for this growth. The OCT device allows for the identification of the disease's pathogenesis and the development of personalized therapies. The segment will continue to grow due to technological advancements such as cloud storage and fiber optics. OCT is also being used in clinical studies.

Fluorescein Angiography will also be expected to grow at a rapid pace over the forecast period. This modality is used to detect macular degeneration and other conditions such as diabetic retinopathy. The segment is expected to grow due to the increasing prevalence of diabeticretinopathy and the demand for early detection solutions. According to the World Health Organization (WHO), 31.7 millions people were affected with diabetic retinopathy by 2000. This is expected to rise to 79.4 millions by 2030, which will increase demand for high-quality diagnostic and therapeutic solutions.

End-of-use insights

Based on end-use, the market for retinal imaging devices can be divided into hospitals, ambulatory surgical centers (ASCs) and other segments. In 2018, hospitals held the largest market share. Hospitals held the largest market share in 2018. Large hospitals have begun to deploy advanced retinal imaging technology in order to improve the diagnosis of ophthalmic diseases. A hospital in Guangdong (China) is using AI cameras to detect blindness-causing conditions. This deployment of AI cameras to provide free consultations is expected contribute to the adoption of retinal imaging equipment.

The segment of ophthalmic centres is expected to expand at a substantial rate over the forecast period. The demand for small ophthalmic clinics is increasing due to the rising prevalence of eye diseases and the availability of affordable care. This is allowing ophthalmic specialists to offer customized services. The demand for portable retinal imaging equipment will rise due to increased competition in ophthalmic clinics. Henry Ford Health System Ophthalmic Imaging Center and Shroff Eye Center are just a few of the ophthalmic centres that use state-of-the-art devices.

The fastest growing segment of the ASCs is expected to be. This is due to the significant advances in microincisional vitreoretinal surgical and favorable changes in ASC reimbursement systems. Medicare, for example, provides a significant reimbursement structure for vitreoretinal surgeries in the ASC. ASC facilities have been receiving cost-of living adjustments based on the Consumer Price Index since 2010. This will have a positive effect on segment growth.

Regional Insights

North America accounted for 26.1% in the global region-wise market for retinal imaging devices in 2018. The largest market share is due to high prevalence of ophthalmic diseases, high adoption rate of advanced technology and the presence of many global players in this market. Optos introduced Monaco, an ultra-widefield combination image device in the US in May 2018.

Europe was second in the market for retinal imaging devices. The market's major players are consolidating their positions by expanding their eye care products in this region. Canon, through its subsidiary Canon Medical Systems Europe B.V., has increased its eye care products, including digital retinal imaging, optical coherencetomography, and tonometers.

Asia Pacific is projected to grow at the fastest pace during the forecast period. The market will be driven by the introduction of global healthcare facilities and growing awareness about retinal imaging in countries like India, China, Thailand. The segment is also expected to grow due to the rising incidence of diabetes in India. According to the International Diabetes Federation, India had 66.8 millions cases of diabetes in 2014. This number is expected increase to 123 million in 2035. Market players are taking more strategic initiatives to meet growing demand for high-quality eye care solutions. Bosch, for example, partnered with Aravind Eye Care to teach women technicians how to capture eye images using the Bosch Fundus Camera. This will likely have an impact on the demand.

Market Share Insights & Key Companies

Optos plc and Optomed are the top players. Topcon Corporation, ZEISS International. Olympus. NIDEK CO. LTD. Robert Bosch GmbH. Eyenuk Inc. Centerveu.

The market is fragmented because of the presence of many players at both regional and global levels. To increase their market share in retinal imaging devices, these players have formed strategic alliances through acquisitions, mergers and distribution agreements. These players also launch products with advanced technology incorporated.

Market Report on Retinal Imaging Devices Scope

The report covers segments

This report provides a forecast of revenue growth at the global, regional and country levels. It also analyzes industry trends in each sub-segment from 2015 to 2026. Grand View Research has divided the global market for retinal imaging devices on the basis type, region, and end-use.

• Type Outlook (Revenue USD Million, 2015-2026)

  • Fundus Camera

  • Optical Coherence Tomography

  • Fluorescein Angiography

• End-use Outlook (Revenue USD Million; 2015-2026)

  • Hospitals

  • ASCs

  • Ophthalmic Centers

  • Other

• Regional Outlook (Revenue USD Million, 2015-2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

These are the most frequently asked questions about this report

b. Global market for retinal imaging devices was valued at USD 4.6 billion in 2019, and is forecast to grow to USD 4.9 billion by 2020.

b. Global retinal imaging device market is expected grow at 6.7% compound annual growth rate between 2019 and 2026, to reach USD7.2 billion by 2026.

b. With a 26.0% share in 2019, North America was the dominant market for retinal imaging devices. This can be attributed to the growing prevalence of eye-related diseases, increased product launches in the U.S. and the presence of many global players in this region.

b. Optos plc and Optomed are some of the key players in the market for retinal imaging devices.

b. Market growth is driven by increasing incidence and cases of ophthalmic disease and the increased launch of retinal imaging device such as fundus camera and optical coherencetomography.

Up Market Research published a new report titled “Retinal Imaging Devices Market research report which is segmented by Type (Fundus CameraOptical Coherence Tomography (Optical Coherence Tomography OCT, Fundus Camera), by End-use (ASCs, Ophthalmic Care Centers, Hospitals), By Players/Companies ZEISS International, Optomed, Epipole Ltd, NIDEK CO, Eyenuk Inc, Olympus, Centerveu, Robert Bosch GmbH, Forus Health, Optos plc, Topcon Corporation, LTD”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Retinal Imaging Devices Market Report Segments:

The market is segmented by Type (Fundus CameraOptical Coherence Tomography (Optical Coherence Tomography OCT, Fundus Camera), by End-use (ASCs, Ophthalmic Care Centers, Hospitals).

Retinal Imaging Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Retinal Imaging Devices Market

Overview of the regional outlook of the Retinal Imaging Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Retinal Imaging Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Retinal Imaging Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Optical Coherence Tomography OCT

                2. Fundus Camera

                1. ASCs

                2. Ophthalmic Care Centers

                3. Hospitals

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Retinal Imaging Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Retinal Imaging Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.