What is Retinal Imaging Devices Market?
The retina is a sensory membrane that is located on the back of the eyeball. It is made up of multiple layers and specialized cells known as photoreceptors. There are mainly two types of photoreceptors present in the human eye namely rod and cone. Rod photoreceptor cells detect the movement and differentiate between black and white vision and ensure vision in poor light conditions. Cone photoreceptors recognize the colors and provide visibility in bright and medium light. Cones are placed in the concentrated small area of the retina, while rods are placed throughout the retina. When the cornea and lens direct the light to the photoreceptor cells, the light energy is converted into chemical energy and transmitted to the brain through the optic nerve. According to ophthalmologists, the most common retinal diseases include macular edema, diabetic retinopathy, macular degeneration, central severe retinopathy, solar retinopathy, and others. Retinal imaging devices help ophthalmologists identify, evaluate, document, and perform treatments for retinal diseases. The advanced imaging devices for the retina can image up to 0 to 200 degrees of the retina with a single exposure. Full-spectrum white light is used in conventional devices; however, advanced retinal imaging devices use low-power laser light.
The market study is being classified by Type (Fundus Camera, Optical Coherence Tomography (OCT) and Fluorescein Angiography), by Application (Child, Adult and Geriatric) and major geographies with country level break-up.
Optos plc (a Nikon Company) (United Kingdom), Eyenuk, Inc. (United States), Topcon Corporation (Japan), Carl Zeiss AG (Germany), Olympus Corporation (Japan), Epipole Ltd. (United Kingdom), Optomed Oy (Ltd.) (Finland), Imagine Eyes (France), Centervue SpA (Italy), Forus Health Pvt. Ltd. (India), Phoenix Technology Group, Inc. (United States) and NIDEK CO., LTD (Japan) are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that European and United States Players will contribute to the maximum growth of Global Retinal Imaging Devices market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Retinal Imaging Devices market by Type, Application and Region.
On the basis of geography, the market of Retinal Imaging Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Incidence of Eye-Related Disorders Such As Macular Degeneration, Glaucoma, and Diabetic Retinopathy
- The Presence of a Large Patient Pool and Imaging Centers
- Increasing Availability of Advanced Retinal Imaging Devices
Market Trend
- Effective Reimbursement Policies by Medicare for Vitreoretinal Surgery in the ASCs
- High Rate of Diagnosis and Treatment of Retinal Disorders
Restraints
- Stringent Regulatory Landscape and Laws on Intellectual Property Rights
Opportunities
- High Adoption of Technologically Advanced Products
- Improving Health Care Infrastructure
- Growing Installation of Various Retinal Imaging Devices in the Developing Region
Challenges
- High Cost of Advanced Retinal Imaging Devices
Market Leaders and some development strategies
In September 2019, Zeiss Vision Care, USA, and Zeiss Medical Technology signed a five-year contract with IDOC. The aim of this agreement was to bring ZEISS industry-leading laboratory services, medical equipment, and lens products to all of the 3,000+ IDOC-independent optometrists in the United States. and In October 2018, IDx and Topcon signed an exclusive agreement to expand AI-based diagnostic solutions in the USA. Under this agreement, IDx has obtained exclusive rights to sell its IDx-DR technology, which is included in Topcon's NW400 fundus camera, in the US market.
In October 2019, Optos, a Nikon company, launched Silverstone, the first of its kind to combine ultra-wide-field retinal imaging with integrated image-guided OCT with swept-source. The device generates a 200 ° single Optomap image with guided OCT, enabling advanced OCT imaging anywhere on the retina, from the posterior pole to the distant periphery.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers of Retinal Imaging Devices, Suppliers and Distributors of Retinal Imaging Devices, Venture Capitalists and Private Equity Firms and End-Use Industry