Microkeratome Market to Surpass US$ 1,347.0 Million globally by end of 2027, Says CMI

The global microkeratome market is expected to witness significant growth due to the growing prevalence of eye disorders coupled with the rising elderly population.

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Provider:

Business Wire, Inc.

Retrieved on:

Friday, July 3, 2020

Information

Tags:

Optical, Health, Medical devices, RTT, Ophthalmology, Senses, Perception, Vision, Refraction, Blindness, Visual impairment, Refractive error, Cataract

Geotags:

United States, WASHINGTON

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Organisation:

Summary

Key Points:

The global microkeratome market is expected to witness significant growth due to the growing prevalence of eye disorders coupled with the rising elderly population.
For instance, according to the World Health Organization (WHO), refractive errors and uncorrected cataracts are the major causes of vision impairment.
In 2019, around 2.2 billion cases of vision impairment or eye disorders were registered all across the globe.
Furthermore, geographical expansions by industry players and the increasing awareness among patients are expected to propel the market growth.

According to Coherent Market Insights, the global microkeratome market is estimated to be valued at US$ 687.9 million in 2020 and is expected to rise at a CAGR of 10.1% during the forecast period (2020-2027).

Key Trends and Analysis:

The global microkeratome market is expected to witness significant growth due to the growing prevalence of eye disorders coupled with the rising elderly population. For instance, according to the World Health Organization (WHO), refractive errors and uncorrected cataracts are the major causes of vision impairment. In 2019, around 2.2 billion cases of vision impairment or eye disorders were registered all across the globe.

Furthermore, geographical expansions by industry players and the increasing awareness among patients are expected to propel the market growth. For instance, Schwind Eye-Tech Solutions performed around 6 million treatments in 100 countries as of July 2019 by installing its Amaris eximer lasers. Of these, the number of treatments performed using LASIK technology is 3.1 million. Schwind used femtosecond laser or microkeratome instrument for performing these treatments. Additionally, in July 2019, Johnson & Johnson Vision launched their Surgical Vision Experience Centre at its institute in Florida, U.S. for conducting various educational & training programs for ophthalmologists.

Key players functioning in the market are focused on mergers & acquisitions to maintain a strong position in the industry. For instance, in February 2017, Abbott Medical Optics (AMO) was acquired by Johnson & Johnson for US$ 4.325 billion. The acquisition consists of ophthalmic products in three major areas of patient care: laser refractive surgery, cataract surgery, and consumer eye health.

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Key Market Takeaways:

The global microkeratome market is expected to exhibit a CAGR of 10.1% during the forecast period (2020-2027) owing to the rising number of visual impairment cases in emerging economies. For instance, according to the WHO, about 5.3% of the total population in Rwanda, Africa was suffering from eye disorders, mainly refractive errors.

North America is projected to be the most lucrative region in the global microkeratome market owing to the increasing adoption of microkeratome procedures coupled with the rising number of age-related disorders. For instance, as per the National Institutes of Health (NIH), the number of uncorrected eye disorders among people aged 40 years and above in the region is expected to reach 8.96 million by 2050.

Key players operating in the global microkeratome market are—

Essilor International, Bausch & Lomb Incorporated, Johnson & Johnson Vision Care, CooperVision, Carl Zeiss AG, Hoya Corporation, Alcon, Inc., STAAR Surgical Company, Marvel Medtech, Abbott Medical Optics Inc., Novartis AG, HAAG-Streit Holding AG, Nidek Co., Ltd., Valeant Pharmaceuticals International, Inc., Sonomed Escalon, Topcon Corporation, Gulden Ophthalmics, FCI Ophthalmics, Ziemer Ophthalmic Systems AG, and Glaukos Corporation.

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Market Segmentation:

Global Microkeratome Market, By Product:
- Reusable
- Disposable
Global Microkeratome Market, By End User:
- Hospitals
- Ophthalmic Centers
- Others
Global Microkeratome Market, By Treatment:
- Retinal Detachment
- Epiretinal Membrane
- Diabetic Retinopathy
- Others
Global Microkeratome Market, By Region:
- North America
  - By Country:
    - U.S.
    - Canada
- Europe
  - By Country:
    - U.K.
    - Germany
    - Italy
    - Spain
    - France
    - Russia
    - Rest of Europe
- Asia Pacific
  - By Country:
    - Australia
    - India
    - China
    - Japan
    - ASEAN
    - South Korea
    - Rest of Asia Pacific
- Latin America
  - By Country:
    - Brazil
    - Mexico
    - Argentina
    - Rest of Latin America
- Middle East
  - By Country:
    - GCC
    - Israel
    - Rest of Middle East
- Africa
  - By Country/Region:
    - South Africa
    - Central Africa
    - North Africa

Related Market Intelligence Report:

Custom LASIK Surgery Market, by Procedure (Wavefront Guided, Wavefront Optimized, and Topography), by Therapeutic Applications (Myopia, Hyperopia, Astigmatism, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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