The tonometer market is projected to register a CAGR of 5.2% over the forecast period. The major factor attributing to the growth of the market is the increase in the incidence of glaucoma. Increasing geriatric population and diabetic patients who are more prone to developing glaucoma are further boosting the market growth. According to Glaucoma Research Foundation, about 3 million Americans are living with glaucoma, and 2.7 million of whom-aged 40 and older are affected by its most common form, open-angle glaucoma. Increasing awareness among patients about early diagnosis and regular monitoring of intraocular pressure (IOP) to prevent avoidable vision loss is anticipated to drive the market in the close future. Providing favorable reimbursement policies for tonometers is expected to aid its adoption rate in hospitals and clinics.
Key Market Trends
Applanation Tonometry Segment is Dominating the Market Studied
In applanation tonometry, the cornea is flattened and the IOP is determined by varying the applanating force or the area flattened. There are three types of applanation tonometers; Goldmann applanation tonometer, Non-Contact Tonometer, Ocular Response Analyzer. Applanation tonometer is widely used as it is easy to use, accurate, and affordable. Apart from the advantages of the applanation tonometer, the factors that are boosting the segment growth include increasing glaucoma prevalence, which is fuelled by increasing geriatric population and the diabetic population who are more prone to glaucoma. However, risks associated with traditional Goldmann and Perkins tonometers, such as cross-contamination or corneal abrasion, are expected to hamper segment growth in the future.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to the factors such as the presence of key players, high prevalence of glaucoma in the region, established healthcare infrastructure. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase market growth. In this region the United States has the maximum share due to supportive healthcare policies, the high number of patients, and a developed healthcare market. According to Brighfocus.org, glaucoma costs the United States economy USD 2.86 billion every year and more than 120,000 are blind from glaucoma, accounting for 9% to 12% of all cases of blindness. The statistics indicate that the increasing patient pool and increasing disposable revenue in this country are boosting the market growth of the region.
The Tonometer market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Keeler Ltd, Topcon Corporation, Icare Finland Oy, Ametek, Inc., Oculus, Kowa American Corporation, Nidek Co. Ltd, Rexxam Co. Ltd, Canon, and Haag-Streit Group.
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