Fluorescein Angiography Market Growth & Trends
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.
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Fluorescein Angiography Market Report
Fluorescein Angiography Market Report Highlights
- North America accounted for the largest share in 2019 owing to favorable reimbursement policies, high adoption rate of advanced technologies, and increasing prevalence of diabetic retinopathy
- By product, the market is segmented into devices, disposables, and accessories
- The devices segment captured the largest market size in 2019 and is expected to witness a CAGR of 3.0% over the forecast period
- Availability of hybrid devices and technological advancements such as auto-focus and integration with AI are major factors driving the devices segment
- Based on application, the market is segmented into macular edema, macular degeneration, macular pucker, ocular melanoma, diabetic retinopathy, and others
- Macular degeneration and diabetic retinopathy captured the largest market share in 2019