Corneal Pachymetry Market Size

Corneal Pachymetry Market Analysis

The Corneal Pachymetry Market size is estimated at USD 304.82 million in 2024, and is expected to reach USD 386.82 million by 2029, growing at a CAGR of 4.88% during the forecast period (2024-2029).

COVID-19 impacted the growth of the corneal pachymetry market. The pandemic resulted in a decline in eye procedures, which has impacted the demand for diagnostics and surgical equipment and thus slowed the market's growth during the pandemic. For instance, an article published in Clinical Ophthalmology in June 2022 stated that about 285 eye surgeries were performed in Germany during the pandemic period as compared to 12 during the pre-pandemic period. However, with resumed services and increased hospital visits, the demand for corneal transplantations and diagnostic procedures for eye-related diseases has increased. This is anticipated to fuel the growth of the market over the forecast period.

The market is growing because of things like the growing number of people with glaucoma and other eye problems and the growing number of people with diabetic retinopathy.For example, according to an article in Special Focus: Community Ophthalmology from June 2022, 28.8% of people in Shillong, India had refractive error (RE) in their worst eye.Also, the same source said that presbyopia, with or without distance vision, was the most common type of RE.So, the high number of refractory errors drives up the demand for refractive surgery, which is expected to fuel market growth over the next few years.

Also, as the number of people with diabetes rises, the risk of getting diabetic retinopathy will likely rise, which will increase the demand for effective treatments and help the market grow.For example, according to the IDF's 2022 statistics, about 537 million people around the world had diabetes in 2021, and this number is expected to rise to 643 million in 2030 and 784 million in 2045.So, the growth of the market over the next few years will be driven by the expected rise in the number of people with diabetes.

Also, more people are becoming aware of eye diseases like cataracts, glaucoma, dry eye disease, and others. This raises the demand for diagnostics and surgical procedures, which is expected to drive the growth of the market over the next few years.For example, an article in Healthcare from June 2021 says that between November 15, 2020, and January 15, 2021, a study was done to find out how much the general population of the Hail Region in Saudi Arabia knows about common eye problems and what might cause them.31% of the people who took part in the study knew about cataracts, 43% knew about glaucoma, 66% knew about dry eyes, and 44% knew about diabetic retinopathy.The same source also said that 46% of the participants knew about eye conditions, with male participants knowing more than female participants.

Moreover, rising company activities and increasing product launches are also contributing to market growth. For instance, in December 2021, Ophthalmic Sciences Ltd., an Israeli startup, launched a device, IO Perfect, that uses artificial intelligence to measure intraocular pressure in patients suffering from glaucoma. The device provides remote glaucoma monitoring by integrating artificial intelligence (AI) and visual analysis into a virtual reality headset. The device can be utilized at home, in eye clinics, emergency rooms, pharmacies, and in settings with primary care doctors.

Because of things like the growing number of people with diabetes and the growing number of people with refractory errors and other eye diseases, the studied market is expected to grow over the next few years. However, the inadequate reimbursement coverage for pachymetry and stringent government regulations are likely to impede the growth of the corneal pachymetry market over the forecast period.