Fluorescein Angiography Market Size, Share & Trends Analysis Report Product Outlook (Devices, Disposables, Dye, Film, Accessories), Technology Outlook (Digital, Analog, Others), Application Outlook (Macular edema, Macular degeneration, Macular pucker, Ocular melanoma, Diabetic retinopathy, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global fluorescein angiography market size was valued at USD 498.8 million in 2021 and is projected to reach USD 785.15 million by 2030, registering a CAGR of 5.17% from 2022 to 2030.

 Fluorescein angiography, also known as fluorescent angiography or fundus fluorescein angiography, is a method that examines the blood flow in the retina and choroid by utilising a fluorescent dye and a specialised camera. Other names for this technique include fluorescein angiography and fundus fluorescein angiography.

The market for fluorescein angiography is being driven primarily by several factors, the most important of which are the rising incidence of a variety of eye illnesses, the rising need for early detection, and supportive efforts taken by the government. The World Health Organization (WHO) has launched a global awareness-raising initiative called VISION 2020 with the goal of encouraging governments around the world to make a long-term commitment, both professionally and politically, to the eradication of blindness. It is necessary to persuade those who make decisions at the international level as well as nongovernmental organisations (NGOs) that the investment of human and financial resources into the fight against blindness is one that will be profitable.

Market Dynamics

Global fluorescein angiography market drivers

• Age & lifestyle-related diseases

The current ophthalmology market is majorly driven by age and lifestyle-related diseases such as cataracts, 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 to central and sharp vision.

Global fluorescein angiography market restraints

• Dependence on non-formal and manual processes by many organizations

Nausea, vomiting, and hives are the kinds of symptoms that are seen most frequently in connection with the fluorescein dye. Some people may also feel sneezing, dry mouth, a taste of metal in the mouth, excessive salivation (saliva overproduction), and a heightened heart rate. Other side effects include increased salivation. These factors have the potential to inhibit expansion in the worldwide fluorescein angiography market.

Global fluorescein angiography market opportunity

• The increasing burden of glaucoma

Opportunities for growth in the market are being created as the prevalence of glaucoma continues to rise around the world. The Glaucoma Research Foundation identifies glaucoma as the second leading cause of blindness in the world, behind cataracts as the primary cause.

In 2010, around 8.4 million individuals around the world were living with blindness as a direct result of glaucoma, and it is anticipated that this figure will rise to 11.1 million by the year 2020. People who already have glaucoma and live in developing nations have an especially elevated risk of the disease advancing to the point where they go blind. The American Academy of Ophthalmology projects that the number of individuals living with glaucoma will increase to 111 million by the year 2040. Africa and Asia are predicted to have the highest rates of glaucoma in the rest of the globe.

Regional Analysis

The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.

In 2019, North America held a market share of 48.8 percent, making it the most dominant region in the fluorescein angiography industry. This can be related to the high volume of diabetic retinopathy procedures as well as the vast number of patients who require them. It is anticipated that the number of people living in the United States who are affected by diabetic retinopathy would rise from 7.7 million in the year 2010 to 14.6 million in the year 2050, as stated by the National Eye Institute (NIH). As a result, fundus cameras are currently being utilised for the purpose of diabetic retinopathy early detection.

Advanced fundus cameras are always being developed and introduced by various market participants. For instance, Carl Zeiss presented two brand-new nonmydriatic cameras from the next generation, the VISUCAM 524 and the VISUCAM 224, during the American Academy of Ophthalmology meeting in Las Vegas in November of 2015. These fundus cameras are utilised in the diagnostic process for a variety of retinal conditions. A high prevalence of chronic diseases such as diabetes is one of the factors that is expected to boost the market for fluorescein angiography during the forecast period. Other factors that are expected to boost the market include advanced features in cameras such as hybrid cameras, digital devices, and portability.

Segmental Analysis

In 2019, the device category commanded a 66.1 percent revenue share of the fluorescein angiography market. The segment is anticipated to be driven by the higher specificity and reduced false-positive rates of fluorescein angiography (FA) systems compared to optical coherence tomography (OCT), particularly in the diagnosis of wet age-related macular degeneration (wAMD). These devices can also be used to evaluate the efficacy of particular treatments, such as Anti-Vascular Endothelial Growth Factor (VEGF) in wAMD.

The regular introduction of integrated devices that can perform numerous ocular tests in a single system is anticipated to drive the fluorescein angiography market. For example, in August 2019, NIDEK announced the launch of multimodal ophthalmic technology Miranté, which can switch modes to perform fluorescein angiography, OCT, indocyanine green angiography, and collect high-quality retinal images on a single device. These technologies have benefits such as enhancing physicians' diagnostic abilities and reducing floor space and money.

In 2019, the digital sector accounted for 98.0% of the market share for fluorescein angiography. Compared to traditional approaches, such as contrast films, digital technology provides higher-resolution photographs of retinal structures. In addition, it allows the user to modify the brightness and contrast of the retinal images, to emphasise certain elements, and to zoom in on regions of concern.

The development of the digital imaging system has facilitated the storing and retrieval of images, allowing for rapid comparison of images during diagnosis and therapy. To prevent differences in reimbursement costs, healthcare systems in a number of affluent nations, such as the United States and Canada, are becoming increasingly paperless and reliant on electronic health records. These reasons are anticipated to further propel the segment's expansion.

In 2019, the macular degeneration category accounted for 38.1% of total revenue. Due to the dramatic increase in diabetes-related eye problems, diabetic retinopathy is predicted to have the highest growth rate over the forecast period. According to the International Association for the Prevention of Blindness, there will be over 642 million diabetics worldwide by 2040, with approximately 35% of them susceptible to diabetic retinopathy.

In addition, the adoption of AI in ocular diagnostics is anticipated to stimulate the growth of the fluorescein angiography market. For example, in January 2019, the FDA approved the use of an artificial intelligence (AI) system in a fundus camera called TRC-NW400 (Topcon Corporation) for the diagnosis of diabetic retinopathy, allowing for rapid transmission of reports without ophthalmologist intervention. This would reduce the workload of healthcare professionals and allow them to focus on more important tasks.

Recent Developments