Hypermetropia treatment Market: Introduction
- Hypermetropia (hyperopia or far- sightedness or long-sightedness) is a form of refractive error, wherein parallel rays of light coming from infinity are focused behind the light sensitive layer of the retina, when the eye is at the rest. Hyperopia is a common general vision condition in adults. People with hypermetropia must squint to see only nearby objects. Reading, writing, computer work or drawing for longer duration of time may cause headache & eye strain.
- The hypermetropia treatment market can be segmented based on type, end-user, and region. Based on type, the market can be categorized prescription lenses and surgery. The prescription lenses can be further sub-segmented into corrective lenses & eyeglasses. The surgery segment can be further split into laser procedures, IOL implantation & non laser procedures. The laser procedures sub-segment can be categorized into Photorefractive keratectomy (PRK), Laser assisted in situ keratomileusis (LASIK), Laser epithelial keratomileusis (LASEK), Epi-LASIK & Laser thermal keratoplasty (LTK). Additionally, the IOL implantation sub-segment can be divided into Ahakia correction, Refractive lens exchange (RLE) & Phakic IOL. While the non-laser procedures sub-segment can be further segregated into Conductive keratoplasty (CK), automated lamellar keratoplasty (ALK) & Keratophakia and Epi-keratophakia. Based on end-user, the market can be split into hospitals, specialty centers, diagnostic centers, clinics & others.
Key Drivers, Restraints, and Opportunities of Global Hypermetropia treatment Market
- Increasing incidences of vision loss largely due to hypermetropia along with rising incidence cases of distance vision impairment due to uncorrected hypermetropia is a key factor that is expected to drive the growth. Higher prevalence of hypermetropia is projected to drive the market. More than 1.1 billion individuals around the world are suffering from hypermetropia, out of which, one-third are above 50 years of age. More than 90% of this patient pool belongs to developing countries. Hence, developing countries are expected to exhibit significant demand for hypermetropia treatment during the forecast period.
- Rise in geriatric population prone to vision loss along with the number of individuals above 40 years of age across the world is likely to fuel the market. Most adults, in their mid-40s, start developing age-related eye diseases, thus augmenting the demand for hypermetropia treatment.
- Increase in healthcare costs, which restrict a large section of the population from using these corrective treatment methods, is anticipated to be a major factor that restrains the hypermetropia market. Furthermore, in emerging economies, access to affordable healthcare is limited, which is projected to hamper the market during the forecast period.
Asia Pacific to Capture Major Share of Global Hypermetropia treatment Market
- Among regions, North America is anticipated to offer significant opportunity for the hypermetropia treatment market during the forecast period, due to an increase in prevalence of hypermetropia among the population in the region. For instance, according to American Academy of Ophthalmology, in 2016, approximately 9.6 million adults in the U.S. were suffering from far-sightedness. Among these, around 820,000 have a degenerative form of the disease and over 41,000 suffer from a complication called hypermetropia.
- Moreover, presence of key players including Visioneering Technologies, Inc., Carl Zeiss, and Alcon in Europe is estimated to fuel the hypermetropia treatment market in Europe, as these players are continuously concentrating on product development and launches
Key Players Operating in Global Hypermetropia treatment Market
The global hypermetropia treatment market is highly fragmented, with the presence of various key players. A large number of manufacturers hold a major share in their respective regions. Major players operating in the global hypermetropia treatment market are:
- Allergan plc
- Abbott Laboratories Inc.
- ALCON VISION LLC
- Bausch + Lomb Incorporated
- Carl Zeiss Inc.
- Essilor Ltd.
- Haag-Streit UK
- Johnson & Johnson Vision
- Lasersight Technologies Inc.
- Nidek Co. Ltd.
- ORASIS Pharmaceuticals Ltd.
- Topcon Corporation
- Visioneering Technologies, Inc.
- Ziemer Ophthalmic Systems AG
- Zeiss International
Global Hypermetropia treatment Market: Research Scope
Global Hypermetropia treatment Market, by Type
- Prescription lenses
- Corrective lenses
- Laser procedures
- Photorefractive keratectomy (PRK)
- Laser assisted in situ keratomileusis (LASIK)
- Laser epithelial keratomileusis (LASEK)
- Laser thermal keratoplasty (LTK)
- IOL implantation
- Ahakia correction
- Refractive lens exchange (RLE)
- Phakic IOL
- Non laser procedures
- Conductive keratoplasty (CK)
- Automated lamellar keratoplasty (ALK)
- Keratophakia and epi-keratophakia
- Laser procedures
Global Hypermetropia treatment Market, by End-user
- Specialty centers
- Diagnostic centers
Global Hypermetropia treatment Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East &Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.