Corneal Pachymetry Market to Surpass US$ 426.1 Million by 2028
Global Corneal Pachymetry Market, By Modality (Handheld and Desktop), By Method Type (Ultrasonic Pachymetry and Optical Pachymetry), By Application (Glaucoma Diagnostics, Refractive Surgery, Keratoconus Screening, and Others), By End User (Hospitals, Specialty Clinics, Diagnostic Laboratories, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 320.6 million in 2021, and is expected to exhibit a CAGR of 4.1% during the forecast period (2021-2028).
Rising number of product approvals and launches is expected to drive growth of the global corneal pachymetry market during the forecast period. For instance on November 24, 2020, Occuity, a manufacturer of medical equipment, announced to launch a handheld optical pachymeter in the second quarter of 2021, with clinical trials currently underway. The non-contact design and patented optical technology of the Occuity pachymeter provides a number of key advantages over existing treatment methods, ultimately improving the customer experience by making it easier and more time & cost effective for the ophthalmologists.
Increase in the number of initiatives related to glaucoma by market players and famous personalities is expected to propel the growth of the global corneal pachymetry market during the forecast period. For instance, on October 8, 2020, Von Miller, a Denver Broncos linebacker and advocate for healthy vision, collaborated with Allergan, an AbbVie Company, on 'My Glaucoma, My Design,' which asked people living with glaucoma and their loved ones to share photos and stories on social media about how they manage their disease. This initiative ultimately encouraged people with glaucoma and their caregivers to connect with their doctors to develop an effective disease management plan.
Global Corneal Pachymetry Market- Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the global corneal pachymetry market. The COVID-19 pandemic has affected the demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets. Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global corneal pachymetry market during the forecast period, owing to ophthalmologists being at high risk of getting infected by COVID-19 than other specialty doctors. For instance, according to an article published in Asia-Pacific Journal of Ophthalmology July-August 2020, it was reported that ophthalmology had the highest proportion of residents with confirmed COVID-19 across all residency programs in New York. Concerns about an increased risk of infection in ophthalmic practice necessitated extra precautions. The most common modes of COVID-19 transmission are droplets, close contact, and aerosols, and ophthalmologists were at a higher risk of COVID-19 infection because they were exposed to viral particles through these routes during routine face-to-face ophthalmic clinical examinations with a slit lamp or direct ophthalmoscope while in close proximity to their patients.
Browse 33 Market Data Tables and 25 Figures spread through 167 Pages and in-depth TOC on Global Corneal Pachymetry Market, By Modality (Handheld and Desktop), By Method Type (Ultrasonic Pachymetry and Optical Pachymetry), By Application (Glaucoma Diagnostics, Refractive Surgery, Keratoconus Screening, and Others), By End User (Hospitals, Specialty Clinics, Diagnostic Laboratories, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Corneal Pachymetry Market:
- The global corneal pachymetry market is expected to exhibit a CAGR of 4.1 % over the forecast period (2021-2028). North America is expected to account for major market share over the forecast period (2021-2028), this is owing to rising patient education campaigns and free screening initiatives by market players. For instance, on March 8, 2021, in honor of World Glaucoma Week, Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company (focused on novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases) based in California U.S., announced two new patient-centric initiatives. The “Making an iMPACT: Glaucoma Perspectives” education and awareness campaign by Glaukos consists of a series of engaging video interviews with leading physicians from around the world along with a glaucoma patient.
- Some of the major players operating in the global corneal pachymetry market include Micro Medical Devices, Inc. (MMD), Reichert, Inc. (AMETEK Inc.), OCULUS Optikgerate GmbH, Quantel Medical, Optovue Inc., DGH Technology, Inc., Escalon Medical Corp., Carl Zeiss AG, Keeler Ltd., and Konan Medical USA Inc.
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