Global demand for Retinal Imaging Devices Market was valued at approximately USD 4.68 Billion in 2018, and is expected to generate revenue of around USD 7.13 Billion by end of 2025, growing at a CAGR of around 6.20 % between 2018 and 2025.
The report covers forecast and analysis for the Retinal Imaging Devices market on a global and regional level. The study provides historic data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the Retinal Imaging Devices market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Retinal Imaging Devices market on a global level. In order to give the users of this report a comprehensive view on the Retinal Imaging Devices market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein Type, End user, and regional segments are benchmarked based on their market size, growth rate and general attractiveness.
According to the report, global demand for Retinal Imaging Devices Market was valued at approximately USD 4.68 Billion in 2018, and is expected to generate revenue of around USD 7.13 Billion by end of 2025, growing at a CAGR of around 6.20 % between 2018 and 2025.
Retinal imaging takes the back of your eye with a digital photo. This reveals the retina (where light and objects hit), the optic disk (a spot on the retina containing the optic nerve, transmitting information to the brain), and the blood vessels. It helps find out conditions for your optometrist or ophthalmologist and check your eyes ' health.
The study provides a decisive view on the Retinal Imaging Devices market by segmenting the market based on Type, End user, end user and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on Type, the market is segmented into Fundus Camera, Optical Coherence Tomography and Fluorescein Angiography. Fundus camera held the largest market share in 2018 due largely to the benefits of this device such as portability and ergonomics. In addition, it is projected that the increasing number of fundus cameras installations with an increasing number of ophthalmic clinics and outpatient eye care centers would drive market growth.
Based on End user, the market is segmented into Hospitals, ASCs, Ophthalmic Centers and Others. In 2018, hospitals hold the largest share of the market. It is expected that high adoption of advanced retinal imaging devices in hospitals would drive growth in the market. In addition, large hospitals are deploying innovative retinal imaging systems to improve ophthalmic disease early diagnosis. Hospitals in Guangdong, China, for instance, are increasingly installing AI cameras to identify diseases that cause blindness. This deployment of AI cameras is expected to contribute to the adoption of retinal imaging tools for free consultations.
The geographical segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2018, North America retained maximum share of the total market for retinal imaging devices in the world. The factors contributing to the largest market share are the high prevalence of ophthalmic disorders, the rapid adoption rate of advanced technology, and the presence of a large number of international players on the market. Monaco, an ultra-widefield combination imaging device in the US, was launched by Optos in May 2018.
During the forecast period, intense rivalry and rising amount of strategic initiatives among both major and smaller market players are some of the major factors that play a significant role in boosting the market. Strategic initiatives taken by the competitive pyramid's top level include mergers and acquisitions. On the other hand, the middle and lower pyramid levels focus on the development of technology and regional expansion. Optos and Amydis, for example, announced a clinical collaboration in 2018. The alliance focuses on Amydis ' eye test development for Alzheimer's disease identification. Amydis often produces a pipeline of compounds used by Optos ' ultra-widefield retinal imaging instruments to detect amyloid proteins in the retina.
Key players within global Retinal Imaging Devices market include Centerveu, Epipole Ltd., Eyenuk Inc., Forus Health, NIDEK CO., LTD., Olympus, Optomed, Optos plc, Robert Bosch GmbH, Topcon Corporation and ZEISS International amongst others.
The report segments global Retinal Imaging Devices market as follows:
Global Retinal Imaging Devices Market: Type Segment Analysis
Global Retinal Imaging Devices Market: End user Segment Analysis
Global Retinal Imaging Devices Market: Regional Segment Analysis