Corneal Topographers market to Eyewitness Huge Marginal Growth by 2027
Posted by Mrudula Karmarkar on January 7th, 2022
The global corneal topographers market size is expected to reach USD 915.6 million by the end of 2027, expanding at a CAGR of 4.8%, according to a new report by Grand View Research, Inc. Increasing incidence of ophthalmic disorders including cataract and diabetic retinopathy is expected to accelerate market growth. According to the Centers of Disease Control and Prevention (CDC), 2015, 20.5 million Americans were cataract patients, out of which, 6.1 million people underwent cataract surgery. CDC further stated that the patient population suffering from cataracts is estimated to escalate to 30.1 million by 2020.
Growing efforts of government organizations to increase awareness and reach an effective ophthalmic care through ambulatory centers are expected to bolster market growth. For instance, the International Agency for the Prevention of Blindness (IAPB) and the World Health Organization (WHO) launched an initiative named Right to Sight, intending to eliminate preventable vision loss in patients suffering from various eye conditions.
Frequent new product approval is expected to aid corneal topographers market growth during the forecast period. For instance, in January 2017, the U.S. FDA approved Aladdin corneal topographer HW3.0 developed by Topcon Medical Systems for distribution in U.S. The new version includes features such as central pachymetry, toric IOL calculator, thereby allowing precision diagnosis.
Major factors driving the market for corneal topographers include increasing prevalence and incidence of age-associated ophthalmic conditions coupled with the rising number of government initiatives to create awareness for early detection, prevention, and treatment of these conditions. For instance, in July 2016, the Indian State government under the coverage of Rashtriya Swasthya Bima Yojna (RSBY) offered free eye surgeries at state medical colleges and hospitals. This led to steep growth in ophthalmic surgery volume in the country. Moreover, increasing focus of market players on research and development and high engagement in strategic collaborations to develop innovative ophthalmic diagnostic modalities are the factors expected to be affirmative growth indicators. However, post-surgical complications caused due to ophthalmic interventions are expected to restrain the growth of the market for corneal topographers.
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The integration of novel diagnostic modalities for screening and early detection of ophthalmic conditions including cataracts is expected to bolster the demand for corneal topographers. According to the facts stated by the World Health Organization, October 2020, around 2.2 billion people were affected with vision impairment or blindness worldwide, of which at least 1 billion people had unaddressed or preventable conditions.
Further key findings from the report suggest:
The Vision Loss Expert Group, in 2017 stated that blindness or vision impairment was majorly due to refractive error- 12%, cataract 6.3%, glaucoma (0.7%), corneal opacities (0.4%), diabetic retinopathy 0.3%, and trachoma 0.2%. Presbyopia accounted for 80.1% of the total unaddressed cases.
Furthermore, increasing the volume of surgical procedures in different healthcare settings including hospitals, clinics, and ambulatory care centers is expected to augment the demand for advanced corneal topographers. According to the survey undertaken by Refractive Surgery Council, around 843,000 vision correction procedures such as LASIK, PRK, and SMILE were performed in the U.S. in 2018, representing an overall increase of 6.2% as compared to 2017.
The leading players present in the market for corneal topographers include Carl Zeiss AG, OCULUS Optikgeräte GmbH, Cassini Technologies, Nidek Co., Ltd., Tomey Corporation, EyeSys Vision, Tracey Technologies, and Topcon Corporation.
New product launches, distribution agreements, and product innovation are the major strategies adopted by the market players to retain their share in the market for corneal topographers. Integration of advanced ophthalmic devices to boost efficiency and to reduce overall price is trending in recent years. In August 2018, OCULUS Pentacam AXL was linked to the IOLcompass Pro Guidance system from Leica Microsystems and TrueVision’s TruePlan, to provide boost efficiency in cataract precision surgery.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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About the AuthorMrudula Karmarkar
Joined: March 30th, 2020
Articles Posted: 500
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