Industry Outlook
The handheld retinal scanners market is set to reach from US$ 790.3 Mn in 2017 to US$ 3,216.3 Mn by 2026 representing outstanding growth at a compounded annual growth rate (CAGR) of 17.3% during the forecast period from 2018 to 2026. The human eye retina has a very unique and intricate pattern of blood vessel which remain stable throughout the lifespan of a human being. Retinal scan is therefore a highly robust technology, and due to its accuracy & precision is used in person identification and authentication. It is noteworthy to understand that retinal scan should not be misunderstood for iris recognition which is based on analyzing a person’s random iris pattern which can be easily spoofed during data matching. It finds huge application in the early screening and diagnosis of eye disorders and is still in the nascent stage for its biometric application in sectors such as banking & finance and defense security.
Market Synopsis
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"Rising public health awareness regarding ocular disease and availability of latest technologically innovative retinal scanners drive the medical diagnosis market growth"
Medical diagnosis is reigning the applications segment for handheld retinal scanners market. Chronic diseases such as ADME, diabetic retinopathy, lyme disease, atherosclerosis and sickle cell anemia has a huge impact on the eye and hence can aid their diagnosis by early retinal scanning. Banking & finance segment will register outstanding growth in the near future as several banking giants are now relying on the unique retinal blood vessel pattern rather than earlier iris scan to prevent fraudulent bank transaction and maintain account security. EyeVerify, Inc., is providing its services to Wells Fargo, Citigroup, Arizona Federal Credit Union etc. Fraunhofer IPMS has developed a portable retinal scanner equipped with Mobile Authentication via Retina Scanner (MARS) to provide civilian and defense security identification application.
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"Rising prevalence of retinal disease and significant adoption of retinal biometric scanning technology in banking segment drive the market growth in North America"
In the present scenario North America holds 48% share in global handheld retinal scanners market. As per the latest research citing provided by Center for Disease Control and Prevention (CDC), in United States the number of patients suffering with diabetic retinopathy is set to reach 14.6 million by 2050. Rising prevalence of retinal disease and increasing adoption of retinal biometric scanning in banking & finance segment drive the market growth in North America region. Europe represents 27% market share primarily due to rising prevalence of age related macular degeneration (ADME) in population aged between 40 to 65 years and domicile of major players such as Fraunhofer IPMS, HEINE Optotechnik, KIRCHNER & WILHELM GmbH + Co. KG. etc. Asia Pacific with a share of 13% market share will perform outstanding growth owing to developing healthcare infrastructure and rampant growth in IT segment specializing in retinal biometric scanning technology.
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Historical & Forecast Period
This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments are calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
The market is segmented by applications and by geography.
| ATTRIBUTE |
DETAILS |
| Research Period |
2016-2026 |
| Base Year |
2017 |
| Forecast Period |
2018-2026 |
| Historical Year |
2016 |
| Unit |
USD Million |
| Segmentation |
By Applications (2016–2026; US$ Mn)
• Medical Diagnosis
• Banking & Finance
• Defense & Security
• Others
|
|
Geography Segment (2016–2026; US$ Mn)
• North America (United States and Canada)
• Europe (U.K., Germany, Rest of Europe)
• Asia Pacific (China, Japan, Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East and Africa (GCC, Rest of MEA)
|
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 questions answered in this report
- Which archrivals are competing in the handheld retinal scanners market?
- What are the latest technical innovations related to retinal scanners?
- What will be the drivers, restraints and opportunities related to retinal scanners market?
- Which major chronic diseases are diagnosed by using retinal scanners?
- What will be the market size and CAGR for Asia Pacific regional segment during the forecast period from 2018 to 2026?
