Nov 13, 2019 (AmericaNewsHour) -- Recent report published by research nester titled " Fundus Cameras Market : Global Demand Analysis & Opportunity Outlook 2024" delivers detailed overview of the fundus camera market in terms of market segmentation by product type, by end-user, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
The fundus camera market has been segmented by product type into mydriatic fundus cameras, non-mydriatic fundus cameras, hybrid fundus cameras and ROP fundus cameras, out of which, non-mydriatic fundus cameras was the largest segment during the year 2016 and is further expected to flourish at a compound annual growth rate of 7.1% over the forecast period.
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The global market of fundus cameras is fuelled by various factors such as growing geriatric population and rising health care concerns among the population which are anticipated to expand the global fundus camera market at a compound annual growth rate of 6.5% over the forecast period with a robust market valuation in terms of revenue. Further, the rising demand for fundus cameras in different regions is propelling the key players to come up with advanced and innovative healthcare solutions which are expected to bolster the growth of fundus cameras market with noteworthy revenue during the forecast period.
In the regional segment, North America is projected to lead the fundus camera market by the end of 2024 with U.S. and Canada as the dominating countries behind the growth of the market in this region. This can be attributed to the high prevalence of retinal disorders and growing adoption of technologically advanced products along with the presence of major key players in this region.
Further, Europe accounted for the second largest fundus cameras market in terms of revenue during the year 2016 owing to the rising urbanization and adoption of healthcare technology. Further, growing number of diabetic patients and increasing awareness towards advanced healthcare gadgets is anticipated to propel the growth of the fundus cameras market in Asia-Pacific region over the forecast period.
Rise in Elderly Population & Eye Syndromes to Propel the Demand for Fundus Cameras
The growing number of retinal detachment cases, geriatric population and rising healthcare expenditure are some of the key elements that are the driving force behind the growth of fundus camera market. Along with that, the advancement in medical technology and favourable government initiatives to curb the rising retinal disorders are believed to benefit the expansion of the fundus camera market across the globe.
However, high cost associated with the fundus camera is likely to inhibit the growth of the fundus camera market in the near future.
This report also provides the existing competitive scenario of some of the key players of the fundus camera market which includes company profiling:
Carl Zeiss Meditec AG,
Kowa Optimed Inc.,