The global nonmydriatic handheld fundus camera market size is expected to reach USD 186.4 million by 2025, according to a new report by Grand View Research, Inc., registering a 9.1% CAGR during the forecast period. Increasing geriatric population has resulted in higher prevalence of age-related macular degeneration (AMD). Furthermore, rising incidence of diabetic retinopathy is expected to increase demand for ophthalmic screening devices, subsequently driving demand for nonmydriatic handheld fundus cameras.
According to laws and regulations by various medical devices agencies in U.S. as well as Japan, fundus imaging cameras must be replaced once in every four years. Hence, demand for these devices is likely to increase in these developed countries in the coming years. Supportive government regulations such as these are likely to have a positive impact on the nonmydriatic handheld fundus camera market.
Approximately 80.0% cases of blindness due to chronic diseases can be avoided by continuous and effective screening. Screening is the only way of detecting eye diseases at an early stage. In U.S., fundus photography procedures are covered by Medicare under CPT code 92250. Growing insurance coverage for such procedures is also likely to boost demand for handheld fundus cameras.
Browse Research Report on Nonmydriatic Handheld Fundus Camera Market:
Further key findings from the report suggest:
- Demand for portable fundus cameras is expected to grow at a rapid rate due to its ergonomic design and user convenience. This is expected to contribute to the growth of the nonmydriatic handheld fundus camera market
- According to the National Eye Institute, the number of people suffering from diabetic retinopathy, aged 40 and above, in U.S. is estimated to reach 11.4 million by 2030
- North America held a majority market share in 2017 due to increasing prevalence of vision related disorders, growing awareness about their treatments, and technological advancements in digital medical devices
- Government initiatives being undertaken for quality, affordable, and speedy healthcare delivery are likely to drive the market. Medicare, for instance, covers the cost of cataract surgery, ocular prosthesis, and glaucoma screening
- Increasing number of product approvals in U.S. has led to adoption of improved technologies by ophthalmologists. For instance, Topcon Medical Systems received clearance for 3D OCT-1 Maestro from the U.S. FDA in July 2016
- Asia Pacific is anticipated to be one of the fastest growing regional markets over the forecast period due to presence of a large patient pool, improved healthcare services, and increasing medical tourism in the region
- Some of the key companies active in the market are Topcon Medical Systems, Inc.; Carl Zeiss Meditec Group; Optomed Oy (Ltd.); OptoVue, Inc.; NIDEK Co., Ltd.; Canon, Inc.; and Clarity Medical Systems, Inc.
View press release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-nonmydriatic-handheld-fundus-camera-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.
For more information: www.grandviewresearch.com
