Retinal Imaging Devices Market Size Worth US$ 3.00 billion by 2028 Says, The Insight Partners

Fundus Camera Segment to Lead Market During 2021–2028

NEW YORK, UNITED STATES, January 25, 2022 /EINPresswire.com/ -- According to The Insight Partners new research study on "Retinal Imaging Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Device Type, and End User," the market is expected to reach US$ 3.00 billion by 2028 from US$ 2.06 billion in 2021; it is estimated to grow at a CAGR of 5.6% during 2021–2028. The report highlights trends prevailing in the market and factors driving its growth. The market's growth is attributed to the rising prevalence of retinopathy of prematurity (ROP), growing global initiatives for blindness and technological advancements.

Strategic Insights

Report Coverage Details
Market Size Value in - US$ 2.06 billion in 2021
Market Size Value by - US$ 3.00 billion by 2028
Growth rate - CAGR of 5.6% from 2021 to 2028
Forecast Period - 2021-2028
Base Year - 2021
No. of Pages -148
No. Tables - 50
No. of Charts & Figures - 59
Historical data available - Yes
Segments covered - Device Type, and End-User
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Retinal imaging is a technique that is used to analyze and diagnose the condition of a patient's retina. Retinal imaging devices (RID) use high-resolution imaging systems to capture inside pictures of an eye. The captured image helps Virtual Private Network (VSP) network doctors assess the health of the retina, which helps in the detection and management of eye and health conditions such as diabetes, glaucoma, and macular degeneration, amongst others.

Rising prevalence of eye diseases

Retinal imaging devices are widely used to diagnose and treat various eye-related diseases such as diabetic retinopathy, age-related macular degeneration, glaucoma, ocular melanoma, and mild vision problems. In addition, across the world, concern for blindness or vision impairment is growing significantly. According to the data published by the World Health Organization (WHO) in October 2021, nearly 2.2 billion people live with a vision impairment or blindness. Among which approximately one billion vision impairment cases can be prevented by proper diagnosis and treatment. These one billion people have different eye problems related to moderate or severe distance vision impairment or blindness. Image-related diagnostic technologies have begun to offer unprecedented growth into eye diseases based on morphological datasets. Such a factor is expected to aid the retinal imaging devices market over the forecast period.

Impact of COVID-19 Pandemic on Retinal Imaging Devices Market

The COVID-19 pandemic situation is significantly changing the role of portable retinal imaging devices. Factors such as restricted clinic options, need in maintaining social distance and telemedicine, have resulted in the penetration of portable imaging devices in the global market. Though portable retinal cameras are smaller than traditional fundus cameras, they require more direct contact for imaging. As a result, most portable cameras have an eye cup, which comes in direct contact with the patient. For instance, Pictor Prestige (Volk) is a portable retinal camera specifically designed for imaging small pupils with a 50-degree field of view. The device’s image quality analysis ensures that the patients will not be facing hospital visit repetition related to imaging. The Pictor Prestige features a user-friendly interface, a battery lasting a full day in the clinic, and a backup battery for overtime use.

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Based on device type, the retinal imaging devices market is categorized into fluorescein angiography, fundus camera and optical coherence tomography. The fundus camera segment held the largest share of the market in 2021. However, the optical coherence tomography segment is anticipated to register the highest CAGR of 8.1% in the market during the forecast period owing to recent additions in the concerned category and improvement in its image resolution quality. For instance, Nikon group’s Optos has several ultra-widefield high-resolution imaging equipment. The company’s ultra-wide field retinal imaging device provides simultaneous non-contact pole-to-periphery views of approximately 80% or 200˚ of the retina in a single, patient-friendly capture within 0.4 seconds.

Retinal Imaging Devices Market: Competitive Landscape and Key Developments

Carl Zeiss Meditec, Revenio Group Oyj, Nikon Corporation, Optomed, Topcon Corporation, Imagine Eyes, Epipole Ltd, Forus Health Pvt Ltd, Eyenuk Inc, and Phoenix Technology Group LLC are among the leading companies operating in the retinal imaging devices market.

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Fundus Cameras Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Mydriatic, Non-Mydriatic, Others); End User (Hospitals, Ambulatory Surgical Centers, Ophthalmology Centers, Others)
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Sameer Joshi
The Insight Partners
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