The increasing prevalence of various retinal disorders is one of the most prominent growth facilitators for the expansion of the fundus camera market. Furthermore, the increasing instances of refractive disorders, such as glaucoma, cataract, and diabetic retinopathy are also fuelling the demand within the fundus camera market. However, the high cost associated with the fundus camera products may restrain the development within the fundus camera market in the near future. On the other hand, the growth within the fundus camera market is driven by the rising pool of geriatric population, who is more susceptible to retinal and refractive disorders.
Manufacturers and players working in the global fundus camera market offer their end users with a wide range of products, including non-mydriatic products, retinopathy of prematurity or ROP products, mydriatic products, and hybrid products. Based on the portability, these products can be further classified into table top I.e., non-movable products as well as handheld products. A few of the most prominent and leading end users for the products and solutions in the fundus camera market include ophthalmology clinics, optometrists and ophthalmic offices, and hospitals, among others.
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Geographically, the fundus camera market can be divided into regions like the Middle East and Africa, Europe, North America, Latin America, and the Asia Pacific. Some of the leading nations participating in the fundus camera market are Canada, the United Kingdom, Italy, China, Japan, Brazil, the Gulf Cooperation Council countries, the United States, Germany, France, Spain, India, Australia, and New Zealand, Mexico, and South Africa, among others. The increasing demand from various developed regions and nations, such as the United States, the United Kingdom, Germany, and Japan, is expected to favor the development of the fundus camera market in the near future. Additionally, the increasing geriatric population in the North America region is also triggering high growth within the fundus camera market.
Players in Fundus Camera Market Focused on Acquisitions and Collab Agreements
The presence of a small number of multinational and leading players makes the landscape of the fundus camera market consolidated in nature. Some of the dominant and leading manufacturers and players working in the landscape of the fundus camera market include Topcon Corporation, Kowa American Corporation, Optomed PLC, Epipole Ltd., Hagg Streit Holding AG, Canon, Inc., Carl Zeiss Meditec, Nidek Co., Ltd., Optovue, Inc., and iCARE Finland Oy of Revenio Group, among others.
These leading participants and players operational in the fundus camera market are engaged in various corporate growth and expansion strategies, including new product launches, mergers and acquisitions, gaining regulatory approvals, and collaborative agreements with other industry participants, among others. For instance, an ophthalmic devices manufacturer, VISIA imaging S. R. L., was acquired by the Topcon Healthcare in July of 2021. This move will help Topcon in enhancing their product development as well as product manufacturing capabilities for producing fundus camera and other anterior segment products.
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Fundus Camera Market to Witness Increased Competition in Near Future
Furthermore, the increasing entry of new players in the fundus camera market is resulting in rising competition in the industry. The manufacturers and players working in the fundus camera market are engaging in pricing wars as well as product differentiation strategies to engage a larger base of consumers. These trends are most likely to intensify the competition in the fundus camera market within the next few years.
To counter the negative impacts of this rising competition, the manufacturers and players in the fundus camera market are focused on developing the next generation of high-performance camera products and solutions that offer enhanced quality. The usage of new and emerging technologies, such as optical coherence tomography or OCT is also stimulating high growth of the fundus camera market.