The fundus cameras market is expected to witness robust growth by 2027 owing to escalating demand for retinal imaging across the globe. In addition, surging focus on the development of more cost-effective and efficient imaging systems is expected to further bolster market growth over the forecast period.

A fundus camera refers to a specialized low-power microscope with a mounted camera, which has an optical design that is based on the indirect ophthalmoscope. These cameras are designed to take pictures of the interior surface of the eye, including the retina, macula, optic disc, retinal vasculature, and posterior pole, i.e., the fundus.

Recently, industry players have been focusing on technological innovation to expand their product offerings to accommodate prevalent consumer demands in key regions across the globe, which has impelled business growth. For instance, in April 2021, Samsung Electronics, the South Korean technology giant, announced its plans to repurpose older smartphones into medical diagnosis cameras with the aim to help India, Vietnam, Morocco, and Papua New Guinea.

Samsung initiated this action through its Galaxy Upcycling program, which was launched back in 2017 to identify innovative ways for using Galaxy devices to make a positive impact. Through the program, the company intended to make an older smartphone act as the brain of the EYELIKE handheld fundus camera, which connects to a lens attachment for fundus diagnosis while the smartphone captures images.

For extensive analysis, the fundus cameras market has been bifurcated based on product, end-use, and region. With respect to product, the market has further been categorized into non-mydriatic, hybrid, and mydriatic fundus cameras.

The hybrid fundus cameras product segment held a significant market share in 2020 and is expected to reach a valuation of around USD 226 million by the end of 2027, progressing at a sizable CAGR through the assessment timeframe. Several advantages provided by these retinal cameras, along with constant innovation and developments in these devices, are likely to fuel segmental adoption through the forthcoming years.

In terms of end-use, the fundus cameras market has been divided into ophthalmology clinics, hospitals, and others. In 2020, the hospitals end-use segment was valued at over USD 121 million and is projected to expand at a notable pace over 2021-2027. Various factors, including the availability of board-certified skilled ophthalmologist, high success rate, and faster & more efficient work, among others, are set to drive segmental growth in the coming years.

On the regional spectrum, the Middle East & Africa fundus cameras market exceeded a valuation of USD 11 million in 2020 and is anticipated to garner a major share in the overall industry revenue by the end of 2027. Rising awareness regarding eye disorders and vision care across various countries in MEA are speculated to support regional market growth through the study timeline.