The wave-front aberrometer market is expected to register a CAGR of 5.6% over the forecast period, due to the growing burden of eye diseases and technological advancements in the devices. According to the World Health Organization, about one billion people in 2019 suffered from blindness because of unaddressed refractive errors, near vision impairment, and presbyopia, globally. Uncorrected refractive errors are one of the major reasons for blindness. Hence, this factor augments the demand for novel diagnostic tools. This factor is expected to boost the demand for wave-front aberrometer.
Key Market Trends
Myopia Segment is Expected to Hold a Significant Market Share in the Wave-front Aberrometer Market
The myopia segment is expected to witness a significant growth in the wave-front aberrometer market, due to the higher prevalence of myopia. According to the American Optometric Association, in 2018, about 30% of people were living with the problem of near-sightedness in the United States. Furthermore, according to the study of the Journal of Clinical Ophthalmology, in 2016, when a LASIK surgery was performed with the help of high-resolution aberrometer in a myopic patient, the outcomes of it was found to be quite effective.
- In addition, the advancements in products related to wave-front aberrometer are expected to be the major contributors to the growth of the market. For instance, in 2018, Oculus, Barrett Toric Calculator, and Olsen introduced ray-tracing formula to Pentacam AXL. These new features help in taking the data of the posterior and anterior corneal surface and thickness. Hence, these factors are expected to drive the growth of the wave-front aberrometer market.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global wave-front aberrometer market, due to the high prevalence of eye-related diseases and the increasing aging population. According to the National Institute of Health, about millions of people in the United States are affected by one or the other eye condition and the aging population is at a greater risk. Furthermore, according to the Centre for Disease Control and Prevention, in 2017, around 8 million people in the United States were diagnosed with vision impairment because of refractive error. Hence, this factor is expected to boost the demand for wave-front aberrometer.
Companies are taking initiatives, such as launching new products to expand their presence in the market. For instance, in 2018, Essilor introduced a new product in the market, WAM700+ wave-front aberrometer. It is based upon Shack-Hartmann wavefront technology and fully-automated instrument. Some of the companies that are currently dominating the market are Novartis AG (Alcon), Carl Zeiss, Luneau Technology, Tracey Technologies, Essilor, Nidek Inc., Johnson & Johnson Visioncare Inc., SCHWIND eye-tech-solutions, Optikon, and Marco.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Eye Disease
4.2.2 Technological Advancements in Product
4.3 Market Restraints
4.3.1 Lack of Skilled Personnels
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Application
5.1.4 Other Applications
5.2.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.2.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 Carl Zeiss
6.1.4 Johnson & Johnson Visioncare Inc.
6.1.5 Luneau Technology
6.1.7 Nidek Inc.
6.1.9 SCHWIND eye-tech-solutions
6.1.10 Tracey Technologies
7 MARKET OPPORTUNITIES AND FUTURE TRENDS