- Microkeratome is a surgical instrument that helps with precision work during LASIK and ALK surgery. Microkeratome contains oscillating blades that help create the corneal flap during the procedure.
- Normally, the thickness of the human cornea varies between 500 and 600 micrometer; this instrument helps create a flap of thickness between 500 and 600 micrometer during the procedure
Key Drivers of Global Microkeratome Market
- Increase in number of visual impairment cases in emerging economies is expected to fuel the global microkeratome market during the forecast period. For instance, according to the World Health Organization (WHO), in 2018, more than 80% of the total ophthalmic diseases in the African country of Rwanda were refractive errors, which represented 5.3% of the total population.
- According to World Health Organization, Globally, 1 billion people have a vision impairment that could have been prevented or has yet to be addressed. 1 billion people includes those with moderate or severe distance vision impairment or blindness due to unaddressed refractive error (123.7 million), cataract (65.2 million), glaucoma (6.9 million), corneal opacities (4.2 million), diabetic retinopathy (3 million), and trachoma (2 million), as well as near vision impairment caused by unaddressed presbyopia (826 million).
- Major market players are focusing on mergers & acquisitions for business expansion and new product launches, which are projected to propel the global market during forecast period
Disposable to be highly lucrative segment
- In terms of product type, the global microkeratome market can be bifurcated into disposable and reusable.
- The disposable segment accounted for a prominent share of the global microkeratome market in 2019. Easy availability and low cost are likely to drive the segment.
Diabetic retinopathy segment to expand significantly
- In terms of treatment, the global microkeratome market can be split into retinal detachment, diabetic retinopathy, epiretinal membrane, and others
- The diabetic retinopathy segment accounted for a significant share of the global microkeratome market in 2019. Increase in prevalence of diabetes all over the world is expected to drive the segment. For instance, according to World Health Organization, 93 million people have diabetic retinopathy, 21 million people suffer from diabetic macular edema, and 28 million cases of vision-threatening diabetic retinopathy have been reported.
Ambulatory surgical centers to be highly lucrative segment
- Based on end-user, the global microkeratome market can be classified into ophthalmic centers, hospitals, and others
- Ophthalmic centers was a highly lucrative segment of the market, in terms of revenue, in 2019. The trend is likely to continue during the forecast period. Ophthalmic centers provide benefits such as shorter hospital stay and lower risk of acquiring hospital-acquired infections (HAIs) and well-equipped devices, which in turn propel the demand for microkeratome in ophthalmic centers.
North America to Dominate Global Microkeratome Market
- In terms of region, the global microkeratome market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global microkeratome market in 2019. The trend is projected to continue during the forecast period. The region’s dominance can be attributed to an increase in people with vision impairment, presence of major players, and well-established healthcare system. According to Centers for Disease Control and Prevention, 4.1 million people in the U.S. are affected with diabetic retinopathy, and around 900,000 people in the U.S. are threatened with vision-damaging retinopathy.
- The microkeratome market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to an increase in adoption of new products and a rise in the number of vision correction procedures undertaken in emerging countries such as India and China
Key Players Operating in Global Microkeratome Market
The global microkeratome market was highly fragmented in 2019. Key players operating in the global market are:
- Alcon (Novartis AG)
- Valeant Pharmaceuticals International, Inc.
- ZEISS International
- Johnson & Johnson
- NIDEK CO., LTD
- Essilor International
- STAAR Surgical Company
- HAAG-Streit Holding AG
Global Microkeratome Market: Research Scope
- Microkeratome Market, by Product Type
- Microkeratome Market, by Treatment
- Retinal Detachment
- Diabetic Retinopathy
- Epiretinal membrane
Global Microkeratome Market, by End-user
- Ophthalmic Centers
Global Microkeratome 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
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The following regional segments are covered comprehensively:
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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?
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