The global retinal imaging devices market size is expected to reach USD 7.2 Billion by the end of 2026, expanding at a CAGR of 6.7% over the forecast period, according to a new report by Grand View Research, Inc. Rising incidence of eye-related disorders such as macular degeneration, glaucoma, and diabetic retinopathy is expected to drive the overall market growth.
North
America dominated the market in 2018. The regional market growth is fueled by
the presence of a large patient pool, imaging centers, and high adoption of
technologically advanced products. On the other hand, Asia Pacific is expected
to grow at the fastest growth rate. This growth is due to increasing
availability of advanced retinal imaging devices in this region.
High
cost of advanced retinal imaging devices is expected to hinder the overall
market growth. Optical coherence tomography (OCT) is one of the advanced
retinal imaging devices used to capture detailed imaging of eye structure for
identifying various ophthalmic disorders. However, these advanced devices are
available at higher costs for various end users such as ophthalmic clinics. For
instance, all the FDA approved OCT systems costs around $70,000.
Major
market players are continuously engaged in various strategic activities to
retain and expand their market share. For In October 2018, IDx and Topcon
entered into an exclusive agreement to expand AI-based diagnostic solutions in
the U.S. Under this agreement IDx has received exclusive rights for selling its
IDx-DR technology incorporated in Topcon’s NW400 fundus camera in the U.S.
market. Therefore, such alliances and growing development of technologically
advanced products is expected to drive the overall market growth during the
forecast period.
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Retinal Imaging
Devices Market Report Highlights
- Optical coherence tomography
is predicted to register significant growth in the forecast period owing
to its effectiveness of providing high-resolution and cross-sectional
images of retinal nerve fiber layer (RNFL), retina, and optic nerve head
- Fundus camera held largest
share in 2018 and is expected to grow at a significant growth rate. These
cameras help in capturing detailed images of retina using digital sensors
- Ambulatory surgery centers
(ASCs) segment is expected to grow at fastest growth rate during the
forecast period. Effective reimbursement policies by Medicare for
vitreoretinal surgery in the ASCs is expected to drive the segment growth
- Hospitals held largest
retinal imaging devices market share in 2018 owing to the high demand for
technologically advanced solutions
- Asia Pacific is anticipated
to witness considerable growth in the forecast period due to improving
healthcare facilities, expansion of retinal imaging in the region, and
growing installation of various retinal imaging devices in the region
- Major players in the
industry are focusing on expanding their reach in various regions for
retinal imaging devices by acquisition of technology-based companies and
launching advanced products
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Retinal Imaging
Devices Market Segmentation
Grand View Research has segmented
the global retinal imaging devices market on the basis of type, end-use, and
regions:
Retinal Imaging
Devices Type Outlook (Revenue, USD Million; 2015 - 2026)
- Fundus Camera
- Optical Coherence Tomography
(OCT)
- Fluorescein Angiography
Retinal Imaging
Devices End-use Outlook (Revenue, USD Million; 2015 - 2026)
- Hospitals
- Ambulatory Surgery Centers
(ASCs)
- Ophthalmic Centers
- Others
Retinal Imaging
Devices Regional Outlook (Revenue, USD Million; 2015 - 2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- 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
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 info visit @ https://www.grandviewresearch.com
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