Corneal Pachymetry Market by Product, Application, and Geography - Forecast and Analysis 2021-2025

The corneal pachymetry market is projected to grow by USD 438.84 million with a CAGR of 3%, during the forecast period 2020 to 2025.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (non handheld and handheld), application (refractive surgery and glaucoma diagnosis), and Geography (North America, Europe, Asia, and ROW).

The corneal pachymetry market report also offers information on several market vendors, including AMETEK Inc., Carl Zeiss AG, DGH Technology Inc., Echo Son SA, Escalon Medical Corp., Keeler Ltd., Konan Medical USA Inc., Menicon Co. Ltd., MicroMedical Devices Inc., and OCULUS Optikgerate GmbH among others.

AMETEK Inc. - The company offers a pachymeter namely, the Ipac pachymeter that features Bluetooth wireless connectivity one-button navigation, a rotating colour LCD screen, and a rechargeable lithium-ion battery. Through the electronic instruments segment, the company manufactures advanced instruments for the process, power and industrial, and aerospace markets.

What will the Corneal Pachymetry Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global corneal pachymetry market as a part of the global healthcare equipment market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the corneal pachymetry market during the forecast period.

Corneal Pachymetry Market: Key Drivers, Trends, and Challenges

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Corneal Pachymetry Market Driver

• One of the key factors driving growth in the corneal pachymetry market is the increasing prevalence of refractive errors and glaucoma.
• With the growing incidences of visual impairment, many initiatives have been started to create awareness among people. For instance, Vision 2020: The Right to Sight is an initiative by the International Agency for the Prevention of Blindness. It aimed to intensify and accelerate the prevention of blindness by 2020. Such initiatives create awareness among people about various visual impairment conditions, such as myopia, astigmatism, presbyopia, and keratoconus, and help them take the necessary steps to prevent and control such corneal problems.
• Ageing is the major factor for the increase in the number of people with refractive errors and glaucoma. The prevalence of other risk factors (such as diabetes and hypertension) for refractive errors is also increasing significantly globally. Such factors will contribute to the growth of the global corneal pachymetry market.

Key Corneal Pachymetry Market Challenge

• The high costs coupled with limited reimbursements for corneal pachymetry will be a major challenge for the corneal pachymetry market during the forecast period.
• Despite the significant advantages, the adoption of advanced corneal pachymetry is limited owing to the high costs of corneal pachymeters and diagnostic test procedures, coupled with inadequate or lack of reimbursement coverage.
• The high cost of corneal pachymetry is a major concern as most patients in both developed and developing countries hospitals, ophthalmology clinics, and ASCs cannot afford the cost of diagnostics. For instance, the average cost of a corneal pachymeter is between USD 2,500- USD 3,00 globally. The reimbursement scenario for corneal pachymetry varies from one country to another. Considering all these factors, the high cost coupled with limited reimbursements for corneal pachymetry hinders market growth. 

This corneal pachymetry market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Corneal Pachymetry Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the corneal pachymetry market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Corneal Pachymetry Market?

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44% of the market’s growth will originate from North America during the forecast period. The US is the key market for corneal pachymetry in North America. Market growth in this region will be faster than the growth of the market in the European regions.

The US is the major contributor in the North American market, owing to the rising healthcare expenditure on ocular diseases, such as glaucoma and refractive errors, and the adoption of technologically advanced non-invasive diagnostic devices. Besides, the growing geriatric population, the presence of well-equipped and established healthcare infrastructure, the availability of highly skilled medical professionals, and the increasing prevalence of glaucoma and refractive errors are driving the market in the US.  this will facilitate the corneal pachymetry market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What is the Fastest-Growing Product Segment in the Corneal Pachymetry Market?

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The corneal pachymetry market share growth by the non handheld segment will be significant during the forecast period. Non handheld corneal pachymeters are portable desktop devices encased in a durable rubber holster with a built-in tilt stand. The device contains a sensor probe attached to the custom-moulded, probe-holder cavity, which is used to measure CCT in patients with glaucoma and refractive errors. For instance, PACHETTE 4, offered by DGH Technology, is a portable desktop pachymeter used for the evaluation of CCT in glaucoma patients. In addition, nowadays, manufacturers are introducing integrated patient data management systems in non handheld pachymeter devices. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the corneal pachymetry market size and actionable market insights on the post-COVID-19 impact on each segment. 

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What are the Key Data Covered in this Corneal Pachymetry Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive corneal pachymetry market growth during the next five years
• Precise estimation of the corneal pachymetry market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the corneal pachymetry market industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive analysis of factors that will challenge the growth of corneal pachymetry market vendors

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