Fluorescein Angiography Market – Growth, Trends, COVID – 19 Impact and Top Players – Carl Zeiss Meditec, Inc., NIDEK Co., Ltd., Kowa Company Ltd.

The global fluorescein angiography market size is expected to reach USD 617.4 million by the end of 2027, expanding at a CAGR of 2.7%, according to a new report by Grand View Research, Inc. Increasing prevalence of ophthalmic conditions such as macular degeneration and diabetic retinopathy and rapid technological advancements are some of the high impact-rendering market drivers. However, the growing preference for safer and faster alternatives such as OCT and fundus autofluorescence is anticipated to impede market growth during the forecast period.

End-users such as hospitals and imaging centers in the country are effectively adopting AI-based fundus cameras for detecting various blindness-causing diseases. For instance, in January 2019, Deqing County hospital in Guangdong Province conducted a free consultation by featuring an AI camera codeveloped by Sun Yat-sen University and Baidu-a multinational technology company in China that offers services, including a search engine platform-to detect ocular fundus diseases. This AI fundus camera is capable of diagnosing glaucoma, diabetic retinopathy, and macular degeneration.

Despite preference of its alternatives, fluorescein angiography is often used as confirmatory test for a wide range of ophthalmic conditions. The technique provides accurate and high quality pictures which help in selecting efficient treatment regimen. In addition, the demand for tradition fluorescein angiography systems is still high in developing countries. This can be attributed to affordability and product availability.

 

Get Sample Copy Of This Report + All Related Graphs (Covid-19 Update): https://www.grandviewresearch.com/industry-analysis/fluorescein-angiography-market/request/rs1

 

The current ophthalmology market is majorly driven by age and lifestyle-related diseases such as cataract, macular degeneration, glaucoma, and diabetic retinopathy. The increasing prevalence of eye-related disorders coupled with the rising geriatric population is expected to drive the fluorescein angiography market over the forecast period. Macular degeneration is a major cause of the eye-related disorder, often associated with aging, and results in damage of central and sharp vision.

Globally, macular degeneration is a leading cause of blindness and can be accounted for almost 50.0% of visual impairment. Furthermore, the increasing burden of glaucoma around the world is driving the market. According to the Glaucoma Research Foundation, glaucoma is the second leading cause of blindness in the world after cataract.

Approximately 8.4 million people were suffering from blindness due to glaucoma in 2010 and this number is expected to reach 11.1 million by 2020, globally. People with glaucoma living in developing countries are particularly at a higher risk of it, progressing to blindness. According to the American Academy of Ophthalmology, the number of people living with glaucoma is expected to be 111 million by 2040, with Africa and Asia leading the rest of the world.

The device segment held a dominant revenue share of 66.1% in the market fluorescein angiography in 2019. Higher specificity and lower false-positive rates of fluorescein angiography (FA) system compared to optical coherence tomography (OCT), especially in the diagnosis of Wet Age-Related Macular Degeneration (wAMD) are factors expected to drive the segment. These devices also find application in monitoring the effectiveness of selected treatment methods, such as Anti-Vascular Endothelial Growth Factor (VEGF) in wAMD.

The frequent launch of integrated devices that can perform multiple ophthalmic tests within one system is expected to drive the market for fluorescein angiography. For instance, in August 2019, NIDEK announced the launch of multimodal ophthalmic technology-Mirante, which can perform fluorescein angiography, OCT, indocyanine green angiography, and capture high-quality retinal images in a single device by switching modes. These technologies have advantages such as increasing the diagnostic capabilities of physicians and saving floor space and cost.