Corneal Pachymetry Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Type (Ultrasonic Method and Optical Method), Application (Glaucoma Diagnosis and Refractive Surgery) and Geography.

Market Snapshot

cagr
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 5.1 %

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Market Overview

The global corneal pachymetry market size is expected to grow at a CAGR of 5.1% over the forecast period. Growing prevalence of ophthalmic conditions such as diabetic retinopathy, cataract, glaucoma is expected to augment the overall growth. According to the World Health Organization in 2019, around 2.2 billion people worldwide have some type of vision impairment. In addition, at least 1 billion patient population has a vision impairment that could have been prevented or has yet to be addressed, which in turn is expected to propel the overall growth.

In addition, the upsurge in the patient population of diabetic retinopathy is also anticipated to be one of the major factors driving the overall growth of the market. According to the World Health Organization, Glaucoma is the second leading cause of blindness Claiming the 6.9 million lives globally.

Strategic initiatives are expected to expand the reach of modern ophthalmic care, which in turn is expected to augment the overall growth in this vertical. Prominent market players are expanding their presence in rural areas, especially in Asia & Africa. Increase in introduction of ambulatory care centers and nonprofit organizations are among the key factors responsible for the growth for the market. Increasing competition in ophthalmic care service industry is expected to fuel demand for technologically advanced pachymetry systems during the forecast period.

Technological advancements in pachymetry systems include development of analysis software & image processing, high-quality displays and simplification of operations. Moreover, introduction of technologically advanced perimeters at competitive prices is possessing high probability of increased rate of adoption for these devices.

However, inadequate reimbursement coverage for pachymetry procedures and stringent government regulations may restrict the market.

Scope of the Report

Pachymeter is a medical device used to measure corneal thickness. It is also used to determine endothelial pump and corneal barrier functions. Moreover, it helps in determining intraocular pressure in case of glaucoma. Corneal thickness greater than 640 µm increases the risk of corneal decompensation. Ultrasound and optical pachymeters are the two devices used to perform pachymetry. The corneal pachymetry market is segmented by type, application, and geography.

By Type
Ultrasonic Method
Optical Method
By Application
Refractive Surgery
Glaucoma Diagnostics
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

The Glaucoma Diagnostics Segment Dominates the Market and is Expected to Continue the Same during the Forecast Period

Glaucoma Diagnostics is expected to grow at a lucrative CAGR during the forecast period. The rising prevalence of glaucoma is anticipated to propel the studied market over the forecast period. Consequentially, the upsurge in the demand for diagnostic instruments in these target applications is presumed to bolster the growth of the market.

The geriatric population base is growing and is more susceptible to developing glaucoma. This is further anticipated to widen the base for the overall market growth.

Moreover, the easy availability of a wide range of diagnostic instruments coupled with the presence of a large number of ophthalmologists and optometrists providing clinical services to treat a broad range of ocular disorders. The diagnosis is an indispensable process in the treatment of eye disorders is accountable for contributing to the diagnostics segment growth.

trend 2

The North America Dominates the Market and is Expected to Continue the Same during the Forecast Period

North America led the market in 2019 owing to the well-established healthcare infrastructure and the presence of key companies. The region is projected to maintain dominance during the forecast years on account of an increasing base of baby boomers and the prevalence of eye-related disorders. According to an article published in Bright Focus Foundation, in 2019, more than 3 million Americans are living with glaucoma, and 2.7 million of whom-aged 40 and older are affected by its most common form, open-angle glaucoma.

The Asia-Pacific region is expected to witness the fastest growth over the forecast period owing to increased disposable income levels and rising awareness about early diagnosis. Moreover, the advent of novel technologies in developing markets, such as India and China, has improved the healthcare facilities, thereby supporting the market expansion. Similar trends are expected to be observed in developing countries such as South Africa.

geo

Competitive Landscape

The global corneal pachymetry market is highly fragmented due to the presence of a large number of players. These players focus on growth strategies such as new product launches, innovations in existing products, and mergers & acquisitions. Key players operating in the global market are NIDEK Co. Ltd, Quantel Medical, Optovue Incorporated, DGH Technology, Inc., Tomey Corporation, Sonomed Escalon, and Reichert Inc.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rise in Prevalence of Glaucoma and Eye-related Disorders

      2. 4.2.2 Rise in Prevalence of Diabetic Retinopathy

    3. 4.3 Market Restraints

      1. 4.3.1 Inadequate Reimbursement Coverage for Pachymetry

      2. 4.3.2 Stringent Government Regulations

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Ultrasonic Method

      2. 5.1.2 Optical Method

    2. 5.2 By Application

      1. 5.2.1 Refractive Surgery

      2. 5.2.2 Glaucoma Diagnostics

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Biophlox Global Pvt Ltd

      2. 6.1.2 DGH Technology, Inc

      3. 6.1.3 Gilras

      4. 6.1.4 NIDEK CO., LTD.

      5. 6.1.5 Optovue, Incorporated

      6. 6.1.6 Quantel Medical

      7. 6.1.7 Reichert Inc.

      8. 6.1.8 Sonomed Escalon

      9. 6.1.9 TOMEY CORPORATION

      10. 6.1.10 Xuzhou Kaixin Electronic Instrument Co.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Corneal Pachymetry Market market is studied from 2018 - 2026.

The Corneal Pachymetry Market is growing at a CAGR of 5.1% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Reichert Inc., Sonomed Escalon , DGH Technology, Inc, NIDEK CO., LTD., Quantel Medical are the major companies operating in Corneal Pachymetry Market.

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