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The wavefront aberrometer market share is expected to increase by USD 141.85 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.86%.
This wavefront aberrometer market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers wavefront aberrometer market segmentation by type (electronic and ordinary) and geography (North America, Europe, Asia, and ROW). The wavefront aberrometer market report also offers information on several market vendors, including Carl Zeiss AG, EssilorLuxottica, Johnson and Johnson Inc., Luneau Technology Group, Marco Ophthalmic Inc., NIDEK Co. Ltd., Novartis AG, Optikon 2000 SpA, SCHWIND eye-tech-solutions GmbH, and Tracey Technologies among others.
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The rise in the number of people with eye disorders is notably driving the wavefront aberrometer market growth, although factors such as high costs associated with eye surgery may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the wavefront aberrometer industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Wavefront Aberrometer Market Driver
One of the key factors driving growth in the wavefront aberrometer market is the rise in number of people with eye disorders. The increasing prevalence of vision-related conditions among people may be attributed to factors such as changes in eating habits, which lead to a less nutritious diet, and an increase in the time spent playing video games, watching television, and working on laptops at work and at home. Cataracts are one of the leading causes of vision disorders globally. Aging makes people more susceptible to eye diseases, such as AMD, diabetic retinopathy, glaucoma, and cataract. With the increasing elderly population in countries such as China, India, and the US, more people will be at risk of visual impairment due to aging processes and chronic eye diseases. Thus, with the increasing aged population, the demand for eye care services will increase, thus augmenting the growth of the market.
Key Wavefront Aberrometer Market Trend
The increase in diabetic population is another factor supporting the wavefront aberrometer market share growth. Diabetes is a group of metabolic diseases in which the person has high blood glucose, either because insulin production is insufficient, or because the body's cells do not respond properly to insulin or both. The lens of the eyes swells due to diabetes, thus affecting the vision of diabetes patients. Even after the blood sugar levels reach the normal level, it can take around three months before vision gets back to normal. Diabetes can also cause glaucoma, retinopathy, cataracts, reversible, temporary blurring of the vision, or even permanent loss of vision. Doctors prescribe spectacles for diabetic patients with vision impairment. Thus, with the increasing number of diabetic patients, the demand for spectacles is expected to increase, which, in turn, is propelling the growth of the global wavefront aberrometer market.
Key Wavefront Aberrometer Market Challenge
The high costs associated with eye surgery will be a major challenge for the wavefront aberrometer market during the forecast period. Even experienced optometrists struggle to determine the degree of vision impairment since it is dependent on the subjective response of the individual tested. It is usually based on reading or describing letters or shapes on an eye chart. In many circumstances, the individual may not be reading the letter that was really seen, but rather the letter that was supposed to be seen. Wavefront aberrometers are the solution to this problem. Wavefront aberrometry is an objective way of determining refractive power that uses an instrument to evaluate how a light beam passes through the examined eye. It provides precise measurements of the light wavefront's movement. A typical LASIK will cost around $1,500-$3,000 per eye; thus, many patients try to avoid it, which, in turn, hampers the market growth.
This wavefront aberrometer 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 2022-2026.
Technavio categorizes the global wavefront aberrometer market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the wavefront aberrometer market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the wavefront aberrometer market encompasses successful business strategies deployed by the key vendors. The wavefront aberrometer market is fragmented and the vendors are deploying growth strategies such as focusing on R&D, technological innovations, strategic collaborations, M&A, market expansion activities, investments in market growth opportunities, and the expansion of distribution networks to compete in the market.
Carl Zeiss AG - The company offers products such as i.Profilerplus.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The wavefront aberrometer market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the wavefront aberrometer market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the healthcare equipment market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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50% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for wavefront aberrometer in North America. Market growth in this region will be faster than the growth of the market in other regions.
The increase in the adoption of advanced surgical and diagnostic technologies due to rapid growth in healthcare expenditure will facilitate the wavefront aberrometer 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.
COVID Impact and Recovery Analysis
In 2020, with the outbreak of COVID-19, the governments of several countries in the region imposed nationwide lockdowns, which limited the movement of people. However, as of early 2021, the number of COVID-19 cases started decreasing due to active vaccination drives. Lockdown restrictions have been removed, and non-essential medical services have again picked up their pace. This will have a significant impact on the market. Thus, the regional wavefront aberrometer market will witness growth during the forecast period.
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The wavefront aberrometer market share growth by the electric segment will be significant during the forecast period. Electronic wavefront aberrometers are gaining popularity due to the advantages they give over traditional wavefront aberrometers.
This report provides an accurate prediction of the contribution of all the segments to the growth of the wavefront aberrometer market size and actionable market insights on post COVID-19 impact on each segment.
Wavefront Aberrometer Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.86% |
Market growth 2022-2026 |
$ 141.85 million |
Market structure |
Fragmented |
YoY growth (%) |
5.68 |
Regional analysis |
North America, Europe, Asia, and ROW |
Performing market contribution |
North America at 50% |
Key consumer countries |
US, China, Germany, Canada, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Carl Zeiss AG, EssilorLuxottica, Johnson and Johnson Inc., Luneau Technology Group, Marco Ophthalmic Inc., NIDEK Co. Ltd., Novartis AG, Optikon 2000 SpA, SCHWIND eye-tech-solutions GmbH, and Tracey Technologies |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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