The latest market report published by Credence Research, Inc. “Global Handheld Retinal Scanners Market - Growth, Future Prospects, Competitive Analysis, 2018 - 2026,” the global handheld retinal scanners market is expected to reach from US$ 790.3 Mn in 2017 to US$ 3,216.3 Mn by 2026 expanding at a CAGR of 17.3% from 2018 to 2026.
Chronic diseases such as diabetic retinopathy and age related macular degeneration which highly affects the retina region can be prevented by early screening with retina scanners. The scanning is performed by casting a beam of low energy infrared light in the eye in order to trace the unique pattern of retinal blood vessels. The advantages associated with retinal scans are low occurrence of false positives, highly reliable and performed within short duration of time. The limitations associated with this technology is its accuracy gets hindered by eye diseases such as cataract and severe astigmatism, high equipment cost and is still in its nascent stage to be used on a large scale commercial use.
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North America currently holds 48% market share and is the largest regional market in handheld retinal scanners market. Increasing adoption of retina scanning biometric technology in maintaining banking security and rising prevalence of chronic eye disease drive the market growth in North America region. Europe is the second largest market with a share of 27% due to increasing number of elderly population suffering with age related macular degeneration (ADME) and existence of major players such as Welch Allyn, ROWIAK GmbH and HEINE Optotechnik etc. Asia Pacific represents 13% market share and will perform excellent growth during the forecast period due to developing healthcare infrastructure and rampant growth in biometric technology.
Archrivals participating in handheld retinal scanners market are AOptix, BioEnable Technologies, Pvt., Ltd., Crystal HR & Security Solutions (P) Ltd., EyeVerify, Inc., Fraunhofer IPMS, HEINE Optotechnik, KIRCHNER & WILHELM GmbH + Co. KG., ROWIAK GmbH, Volk Optical, Inc. and Welch Allyn.