Retinal Imaging Devices Market Size to Expand Lucratively during the Forecast Period

Retina is a sensory membrane situated at the back of the eyeball. It consists of several layers and specialized cells known as photoreceptors. There are two types of photoreceptors in the human eye: rod and cone. Rod photoreceptor cells detect the motion and distinguish black and white vision and provide vision in low light. Cone photoreceptors detect the colors and provide vision in bright and medium light. Cones are placed at the concentrated small area of retina, while rods are placed throughout the retina. When cornea and lens direct the light to the photoreceptor cells, the light energy is converted to chemical energy and transmitted to the brain through optic nerve. According to ophthalmologists, common retinal disorders include macular edema, diabetic retinopathy, macular degeneration, central serious retinopathy, solar retinopathy, and others.

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Retinal imaging devices assist eye care practitioners to identify, evaluate, document, and conduct treatment for retinal disorders. The advanced retinal imaging devices can image up to 0 to 200 degrees of the retina through a single capture. Full spectrum white light is utilized in conventional devices; however, advanced retinal imaging devices use low-powered laser light.

The global retinal imaging devices market is primarily driven by increase in incidence of retinal disorders across the world, high rate of diagnosis and treatment of retinal disorders, technological advancements, and improving health care infrastructure. However, stringent regulatory landscape and laws on intellectual property rights are expected to restrain the market. Mergers and acquisitions among major players and increase in R&D investment are projected to drive the global retinal imaging devices market during the forecast period.

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In terms of image modality, the global retinal imaging devices market can be segmented into color, red-free, choroidal, and others. Based on age group, the global market can be classified into child, adult, and geriatric. In terms of practice area, the global retinal imaging devices market can be categorized into healthy refractive, diagnostic, disease monitoring, disease treatment, and medical procedures. Based on end-user, the global market can be divided into hospitals & ambulatory surgery centers, specialized eye care centers, and others.

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Geographically, the global retinal imaging devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the leading share of the global market in 2017, owing to highly developed health care industry, strong research & development infrastructure, and presence of major players. Germany, France, and the U.K. held major shares of the retinal imaging devices market in Europe in 2017. The market in Italy and Spain is expected to witness significant growth during the forecast period. Highly developed health care industry, prominent research and development infrastructure, and increase in retinal disorders are attributed to high market share of Germany, France, and the U.K. China and Japan held significant shares of the retinal imaging devices market in Asia Pacific in 2017. The market in India is likely to expand at a high CAGR in the near future, owing to the emerging health care industry and presence of well-established domestic players. Underdeveloped health care industry and less technological progress are anticipated to hamper the growth of the retinal imaging devices market in Latin America and Middle East & Africa during the forecast period.

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Key players in the global retinal imaging devices market are Optos plc (a Nikon Company), Eyenuk, Inc., Epipole Ltd., Optomed Oy (Ltd.), Imagine Eyes, Centervue SpA, Forus Health Pvt. Ltd., Phoenix Technology Group, Inc., Topcon Corporation, Carl Zeiss AG, Olympus Corporation, and NIDEK CO., LTD, among others.

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