Retinal Imaging Devices Market is expected to reach US$ 3.00 billion by 2028

Fundus Camera Segment to Lead Market During 2021–2028

According to our 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. However, the risks associated to provision of screening in resource poor regions such as Asia include lack of specialists and lack of equipment is likely to hinder the industry growth.

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.

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. 

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.

Retinal Imaging Devices Market, by Region, 2021 (%)

Based on device type, the retinal imaging devices market is categorized into fluorescein angiography, fundus camera and optical coherence tomography. Based on end-user, the market is segmented into hospitals & clinics, ambulatory surgical centers, specialized eye care centers and other end users. By geography, the retinal imaging devices market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South and Central America (Brazil, Argentina, and the Rest of South and Central America).