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SOUTH KOREA RETINAL IMAGING DEVICES MARKET FORECAST 2023-2030

SCOPE OF THE REPORT

South Korea Retinal Imaging Devices Market by Device Type (Fundus Camera, Optical Coherence Tomography, Fluorescein Angiography) Market by End Use (Ophthalmic Center, Hospital, Ambulatory Surgery Center, Other End Uses)

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MARKET OVERVIEW

The South Korea retinal imaging devices market growth is anticipated to progress at a CAGR of 8.33% during the forecast period, 2023-2030, and is projected to garner a revenue of $153.84 million by 2030.

According to the Diabetes Fact Sheet Korea 2021, it was reported that the estimated prevalence of diabetes mellitus among adults aged 19 and older stood at 13.9%, with a breakdown of 15.8% in men and 12.1% in women. Diabetes mellitus tends to increase with age, which, in turn, is expected to elevate the risk of diabetic retinopathy cases.

Further, recent advancements in retinal imaging technology, notably optical coherence tomography (OCT) and fundus cameras have significantly enhanced the precision and granularity of retinal imaging. These technological strides have led to notable improvements in diagnostic capabilities, consequently resulting in an upsurge in the utilization of retinal imaging devices.

Moreover, the South Korean government has taken proactive measures to bolster healthcare services and infrastructure, with a particular emphasis on the adoption of cutting-edge medical technologies, such as retinal imaging devices, aimed at elevating the standard of eye care throughout the nation. For instance, during the May 2022 meeting of the Korean Eye Care Working Group (KECWG) hosted at Yonsei University Health System, an extensive review was conducted to assess the alignment of the new plan with the longstanding ‘VISION’ 2020 initiative. This review included an expansion of the concept to encompass Vision Loss and Eye Health Promotion, along with an insightful examination of the challenges faced by collaborative efforts spanning the past three decades.

South Korea Retinal Imaging Devices Market

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The South Korea retinal imaging devices market segmentation includes device type and end use. The device type segment includes fundus camera, fluorescein angiography, and optical coherence tomography.

Fundus cameras represent specialized equipment designed for capturing high-resolution images of the retina, thereby facilitating the diagnosis, ongoing monitoring, and effective management of various retinal conditions. Their application extends to the early detection and diagnosis of ailments like diabetic retinopathy, age-related macular degeneration (AMD), and glaucoma. By providing clinicians with exceptionally detailed images, fundus cameras offer valuable insights into retinal disorders, enabling timelier interventions and enhancing overall patient outcomes. 

Furthermore, these devices excel at delivering a meticulous view of the retina’s intricate components, including the macula, optic nerve head, and blood vessels, which proves instrumental in identifying subtle changes indicative of retinal disease development or progression.

Moreover, recent advancements in fundus camera technology have yielded devices boasting heightened resolutions, expanded field of view capabilities, and improved imaging modalities like autofluorescence imaging and optical coherence tomography (OCT) integration. These advancements significantly augment the diagnostic prowess of fundus cameras, underscoring their importance in modern clinical practice.

Whereas OCT delivers unparalleled resolution in cross-sectional images of retinal layers, empowering healthcare professionals to discern minute details and identify subtle alterations in retinal structure. This level of information plays a pivotal role in ensuring precise diagnoses and continuous monitoring of retinal diseases.

OCT generates precise measurements of retinal thickness and other relevant characteristics, facilitating an objective evaluation of disease severity and therapeutic responsiveness. This quantitative data enhances the quality of clinical decision-making and elevates the standard of patient care. Moreover, OCT offers a non-invasive, real-time imaging experience, affording clinicians the opportunity to visualize retinal structures during patient consultations. This not only enhances patient engagement but also provides timely insights for treatment planning purposes.

Some of the eminent companies in the South Korea retinal imaging devices market are Kowa Company Ltd, Carl Zeiss Meditec AG, NIDEK CO LTD, Heidelberg Engineering GmbH, etc.

NIDEK CO LTD manufactures innovative ophthalmic and medical equipment globally, with a specialized focus on solutions for medical practitioners and eye care professionals. Its product portfolio includes varied innovative technologies in medical imaging and ophthalmology. In addition, it offers innovative vision correction technologies, retinal imaging devices, refractive surgical solutions, and diagnostic & therapeutic equipment. The company serves healthcare professionals across Asia, Europe, and North America, with headquarters in Gamagori, Aichi, Japan. 

One of its key products, Nidek Retina San Duo, is a high-resolution retinal camera that takes detailed retinal images.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2030
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Device Type and End Use
Countries AnalyzedSouth Korea
Companies AnalyzedCanon Inc, Carl Zeiss Meditec AG, Heidelberg Engineering GmbH, Kowa Company Ltd, NIDEK CO LTD, TOPCON CORPORATION

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. COUNTRY SNAPSHOT
    3. COUNTRY ANALYSIS
    4. SCOPE OF STUDY
    5. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON RETINAL IMAGING DEVICES MARKET
    6. MAJOR MARKET FINDINGS
      1. RAPID ADVANCEMENTS IN TELEMEDICINE AND REMOTE MONITORING
      2. COLLABORATIVE RESEARCH AND PARTNERSHIPS IN RETINAL IMAGING TECHNOLOGIES
      3. FAVORABLE GOVERNMENT POLICIES AND INITIATIVES
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. RISING PREVALENCE OF OCULAR DISEASES
      2. TECHNOLOGICAL ADVANCEMENTS IN RETINAL IMAGING
      3. RETINAL IMAGING IS ESSENTIAL FOR GERIATRIC CARE
    2. KEY RESTRAINTS
      1. HIGH COSTS OF RETINAL IMAGING DEVICES
      2. SHORTAGE OF SKILLED OPHTHALMOLOGISTS
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
    2. PEST ANALYSIS
    3. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    4. GROWTH PROSPECT MAPPING
      1. GROWTH PROSPECT MAPPING FOR SOUTH KOREA
    5. VALUE CHAIN ANALYSIS
  5. MARKET BY DEVICE TYPE
    1. FUNDUS CAMERA
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. OPTICAL COHERENCE TOMOGRAPHY 
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. FLUORESCEIN ANGIOGRAPHY
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  6. MARKET BY END USE
    1. OPHTHALMIC CENTER
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. HOSPITAL
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. AMBULATORY SURGERY CENTER
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. OTHER END USES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  7. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. CANON INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      2. CARL ZEISS MEDITEC AG
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      3. HEIDELBERG ENGINEERING GMBH
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      4. KOWA COMPANY LTD
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      5. NIDEK CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      6. TOPCON CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – RETINAL IMAGING DEVICES MARKET

TABLE 2: SOUTH KOREA RETINAL IMAGING DEVICES MARKET, BY DEVICE TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: SOUTH KOREA RETINAL IMAGING DEVICES MARKET, BY DEVICE TYPE, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 4: SOUTH KOREA RETINAL IMAGING DEVICES MARKET, BY END USE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: SOUTH KOREA RETINAL IMAGING DEVICES MARKET, BY END USE, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 6: SOUTH KOREA RETINAL IMAGING DEVICES MARKET REGULATORY FRAMEWORK

TABLE 7: KEY PLAYERS OPERATING IN SOUTH KOREA RETINAL IMAGING DEVICES MARKET

TABLE 8: LIST OF MERGERS & ACQUISITIONS

TABLE 9: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 10: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 11: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING FOR SOUTH KOREA

FIGURE 4: VALUE CHAIN ANALYSIS

FIGURE 5: SOUTH KOREA RETINAL IMAGING DEVICES MARKET, GROWTH POTENTIAL, BY DEVICE TYPE, IN 2022

FIGURE 6: SOUTH KOREA RETINAL IMAGING DEVICES MARKET, BY FUNDUS CAMERA, 2023-2030 (IN $ MILLION)

FIGURE 7: SOUTH KOREA RETINAL IMAGING DEVICES MARKET, BY OPTICAL COHERENCE TOMOGRAPHY, 2023-2030 (IN $ MILLION)

FIGURE 8: SOUTH KOREA RETINAL IMAGING DEVICES MARKET, BY FLUORESCEIN ANGIOGRAPHY, 2023-2030 (IN $ MILLION)

FIGURE 9: SOUTH KOREA RETINAL IMAGING DEVICES MARKET, GROWTH POTENTIAL, BY END USE, IN 2022

FIGURE 10: SOUTH KOREA RETINAL IMAGING DEVICES MARKET, BY OPHTHALMIC CENTER, 2023-2030 (IN $ MILLION)

FIGURE 11: SOUTH KOREA RETINAL IMAGING DEVICES MARKET, BY HOSPITAL, 2023-2030 (IN $ MILLION)

FIGURE 12: SOUTH KOREA RETINAL IMAGING DEVICES MARKET, BY AMBULATORY SURGERY CENTER, 2023-2030 (IN $ MILLION)

FIGURE 13: SOUTH KOREA RETINAL IMAGING DEVICES MARKET, BY OTHER END USES, 2023-2030 (IN $ MILLION)

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