The global corneal pachymetry market size was valued at USD 518.59 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 3.95% from 2024 to 2030. The market's growth is due to the increasing incidence of glaucoma cases and the heightened awareness among healthcare professionals regarding the significance of corneal thickness measurements in diagnosing various eye conditions.
The increasing incidence of glaucoma drives the growth of the market. For instance, data from the Glaucoma 2022 report reveals that around 80 million individuals worldwide were afflicted by glaucoma in the past year, with projections indicating a rise to 111 million by 2040. This surge in glaucoma cases has started a heightened demand for precise diagnostic and treatment solutions, with companies establishing corneal pachymetry as a cornerstone of this demand. Consequently, the corneal pachymetry market is set for substantial expansion in the coming years.
Technological advancements have significantly benefited pachymetry systems by introducing advanced analysis software, image processing capabilities, improved displays, and user-friendly interfaces. These enhancements enhance the performance of these devices and make them more accessible to healthcare professionals. Moreover, the availability of products at affordable prices is likely to boost their adoption rate. For instance, in 2022, Entod Pharmaceuticals in India launched its GLO division in December 2022, a pioneering ophthalmic subspecialties division focused on glaucoma treatment. This strategic move reflects the growing demand for glaucoma solutions and highlights the expansion opportunities within the market.
The ultrasonic pachymetry market segment held the largest market share in 2023. Optical pachymetry is preferred by healthcare professionals and patients due to its user-friendly nature, offering comfort and ease of use. Ultrasonic pachymetry has been a long-established and well-recognized method for measuring corneal thickness. Its accuracy and reliability in providing precise corneal thickness measurements make it a trusted choice for patients and healthcare professionals. Additionally, ultrasonic pachymetry devices have seen continuous technological advancements, enhancing their performance and usability.
Based on application, the glaucoma diagnosis market held the largest market share in 2023. Glaucoma, a prevalent eye condition, requires routine monitoring of corneal thickness as a crucial diagnostic and management parameter. The growing awareness of glaucoma's significance helps fuel the market growth. For instance, the Glaucoma 2022 report stated that around 80 million global glaucoma cases last year, with projections reaching 111 million by 2040, has increased demand for corneal pachymetry, a critical diagnostic tool. Furthermore, advances in pachymetry technology have improved accuracy, ease of use, and accessibility for healthcare professionals.
Based on end use, the market is segmented into hospitals, clinics, and others. The hospital segment dominated the market in 2023. Hospitals are vital healthcare hubs catering to many patients with diverse medical needs, including those requiring corneal pachymetry services. They have specialized ophthalmology departments and eye clinics where corneal pachymetry is routinely used to diagnose eye conditions, monitor patients with glaucoma or refractive disorders, and prepare for eye surgeries. Moreover, hospitals typically have substantial budgets and resources to invest in advanced medical equipment, including state-of-the-art corneal pachymetry devices.
North America dominated the market in 2023. This growth is due to the high prevalence of diabetes-related complications and a growing burden of conditions such as glaucoma, diabetic retinopathy, and refractory errors, which is driven by its increasing geriatric population and mature healthcare facilities. For instance, according to CDC data from May 2021, Diabetes retinopathy is the primary cause of visual impairment and blindness in persons of working age adults in the United States, with a projected 14.6 million Americans suffering from the condition by 2050. Additionally, the rising diabetic population in both the U.S. and Mexico, estimated at 32 million and 14 million people in 2021, respectively, is anticipated to boost demand for retinal eye treatment further, contributing to the overall market growth.
Key players operating in the market are MicroMedical Devices, Inc., Sonomed Escalon, DGH Technology, Inc., Tomey Corporation, Oculus VR, Optovue, Incorporated, NIDEK CO., LTD., Accutome Inc., Konan Medical USA, Inc., and MEDA Co., Ltd. The market participants are constantly working towards new product development, M&A activities, and other strategic alliances to gain new market avenues. The following are some instances of such initiatives.
In October 2022, Alcon made a significant move by acquiring Ivantis, the creator of the Hydrus Microstent. This innovative device is designed to help lower eye pressure in patients with open-angle glaucoma, particularly when they undergo cataract surgery. The acquisition involved an initial payment of USD 475 million, with the potential for additional payments based on achieving specific regulatory and commercial milestones.
In July 2023, Nidek unveiled the NT-1/1e Non-Contact Tonometer, a new advanced device with automated measurements and an air-nozzle contact sensor for enhanced patient safety. It simplifies the process by requiring patients to rest their chin on the chinrest, allowing the gadget to identify eye position and begin measurements without operator intervention. This advancement marks a notable stride in user-friendly and secure eye care technology.
In August 2022, Glaukos Corporation gained FDA 510(k) clearance for the iStent Infinite, a trabecular micro-bypass system designed to reduce intraocular pressure in patients with primary open-angle glaucoma when prior treatments have been ineffective.
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