Handheld Retinal Scanners Market Is Expected To Reach US$ 3,216.3 Mn By 2026
Added: (Sat Feb 16 2019)
Pressbox (Press Release) -
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.
Browse the full report Handheld Retinal Scanners Market 2018 – 2026 report at https://www.credenceresearch.com/report/handheld-retinal-scanners-market
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.
Medical diagnosis is leading the applications segment for handheld retinal scanners market. The human eye retina gets affected during the occurrence of chronic disease such as diabetic retinopathy, cardiovascular disease, lyme disease etc., early screening with retina scanners aids in the diagnosis of such chronic diseases. Banking & security segment will capture the market in the near future due to increasing adoption of immaculate retinal scanning technology in the customer identification and authentication to avoid fraudulent bank transaction and maintain account security. IT segment is working diligently in developing Mobile Authentication via Retina Scanner (MARS) technology to ensure civilian and defense security.
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.
Key Market Movements:
• Rising prevalence of retinal disease and significant adoption of retinal scanning in biometric identification and authentication
• Increasing demand for retinal scanning technology for account security in banking & finance sector
• Technological advancement in smartphone application such as Mobile Authentication via Retina Scanner (MARS) to ensure defense security