The global auto keratometer market is estimated to projected growth at a healthy CAGR of nearly 4% to 5% during the forecast period 2022-2032. Increasing demand for eye testing equipments and growing emphasis on the introduction of novel keratometers with innovative technologies, such as the Internet of Things (IoT), are expected to accelerate the growth in the auto keratometer market.
Report Attribute
Details
Auto Keratometer Market Projected Growth Rate (2022-2032)
4% to 5% CAGR
Keratometry is the medical practice of measuring the radius and anterior surface of corneal curvature to diagnose the presence of eye-related ailments such as astigmatism and determine the treatment for the condition. Keratometers, also referred to as ophthalmometers, are devices or instruments used during keratometry for measuring the corneal curvature.
Auto keratometers are a type of keratometers that are based on the principle of variable image size and constant image size. Auto diagnostics instruments are compact devices that allow reflecting the corneal image on the electronic photosensitive device which then records the radius and size of the corneal curvature.
End users are increasingly shifting their inclination towards the adoption of auto keratometers from conventional keratometers, owing to their ability to measure central and peripheral curvatures of the cornea at various points and high accuracy in measurement of refractor error degree in the eye.
Auto keratometers are gaining huge popularity across hospitals, clinics, and diagnosis centers for diagnosis of eye-related conditions such as astigmatism and determination of the actual refractive power and refractive inaccuracy of the eye. These devices are also finding a wide range of applications for the assessment of patients’ eyes pre and post-refractive surgeries. This rise in applications and end use is anticipated to augment the demand for auto keratometers in the global market.
Which are Some Prominent Drivers Spearheading Auto Keratometer Market Growth
Over the past couple of years, a significant rise in the prevalence of eye-related ailments and conditions, such as astigmatism, hyperopia, myopia, and others ophthalmic conditions, is being witnessed across the globe, resulting in augmenting the demand for eye diagnostics and treatment devices.
According to a study published by the World Health Organization, around 914.4 million people across the globe are suffering from presbyopia and unaddressed refractive error, collectively. As auto keratometers are extensively used by ophthalmologists for a thorough diagnosis of the eye along with the measurement of refractor error degree, growing burden of such conditions is estimated to create lucrative growth opportunities in the global market.
Inaccurate measurement of corneal curvature of the eye might lead to complete imperfection in the curvature. In order to counter the parallax errors, medical spaces and personnel are increasingly adopting automated keratometry devices, which is in turn, creating strong demand for auto keratometers.
Hence, leading manufacturers in the market are emphasizing on research and development activities to launch novel keratometry devices integrated with innovative technologies and features. This is projected to accelerate the sales of auto keratometers in the market.
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What are the Challenges Faced by the Auto Keratometer Market
Although there are several advantages associated with the use of auto keratometers, extravagant cost of the device, need for qualified professionals to measure and calculate the readings, and the availability of relativity low-cost manual keratometers are factors hindering the sales in the market.
In addition to this, stringent regulatory standards and time-consuming new products approval processes by regulatory organizations such as the Food and Drug Administration, Central Drugs Standard Control Organization, and others are restraining the auto keratometer market growth.
Why is North America Emerging as an Opportunistic Auto Keratometer Market
FMI states that North America is estimated to emerge as the most lucrative market for auto keratometers during the forecast period 2022-2032.
Burden of eye-related ailments is increasing at a rapid pace across North America, due to constantly use of smartphones, TV, and computer screens. According to a report by the American Academy of Ophthalmology, around 1 out of 3 individuals across the U.S. is suffering from astigmatism and nearly 150 million people in the country wears some corrective eyewear.
In addition to this, a swift rise in number of eye corneal refractive correction surgeries such as LASIK is being witnessed, owing to the growing patient inclination towards one-time procedures and presence of favorable reimbursement infrastructure. As auto keratometers are extensively used for the determination of astigmatism along with the pre- & post-surgical assessment of cornea curvature, the increasing prevalence of astigmatism and growing corrective surgeries are projected to bolster the sales in the North America market.
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How is Japan Contributing to the Growth of the Auto Keratometer Market
As per Future Market Insight, Japan is expected to account for a significant share in the global auto keratometer market between 2022 and 2032.
With increasing application of keratometry devices across hospitals, clinics, and diagnostics centers, driven by the growing patient pool of the eye-related conditions such as hyperopia, myopia, and presbyopia, demand for auto keratometers is rapidly surging.
Hence, key manufacturers in the market at aiming at introducing novel products with innovative features such as glare testing and auto-refractors to cater to this growing demand. For instance, in 2019, NIDEK, a Japanese manufacturer of ophthalmic equipment announced launching its new automatic keratometer along with refractometer, 7.0 in touch display, and gentle voice guidance features. A slew of such development is anticipated to favor the growth in the Japan market.
Market Competition
Some of the leading players in the auto keratometer market are Nidek Co., Ltd., TOMEY CORPORATION, Righton, GRAND SEIKO, Topcon Corporation, Potec, BON Optic, Coburn Technologies, Inc., Luneau Technology Group, and others.
Prominent players are focusing on improving the specifications and features of auto keratometers along with entering into partnerships, merges, and acquisitions for expanding their product portfolio.
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Report Scope
Report Attribute
Details
Growth Rate
CAGR of 4% to 5% from 2022 to 2032
Base Year for Estimation
2021
Historical Data
2015-2020
Forecast Period
2022-2032
Quantitative Units
Revenue in USD Million, Volume in Kilotons and CAGR from 2022-2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered
Product Type
Application
End Use
Region
Countries Covered
North America
Latin America
Europe
CIS & Russia
APEJ
Japan
Middle East and Africa
Key Companies Profiled
Nidek Co., Ltd.
TOMEY CORPORATION
Righton
GRAND SEIKO
Topcon Corporation
Potec
BON Optic
Coburn Technologies, Inc.
Luneau Technology Group
Others
Customization
Available Upon Request
Key Segments Profiled in the Auto Keratometer Market Survey
By Product Type:
Handheld Auto Keratometer
Benchtop Auto Keratometer
By Application:
Hyperopia
Myopia
Astigmatism
Other Ophthalmic Conditions
By End Use:
Hospitals
Clinics
Educational Institutes
Diagnosis Centers
By Region:
North America
Latin America
Europe
CIS & Russia
APEJ
Japan
Middle East and Africa
Frequently Asked Questions
What is the sales forecast for auto keratometer in the global market until 2032?
FMI projects the sales of auto keratometer in the market is expected to rise at 4% to 5% value CAGR by 2032
Which region is forecast to be the most lucrative for auto keratometer market growth?
The global auto keratometer market is expected to be dominated by North America the forecast period 2022-2032.
Which are some leading auto keratometer manufacturers?
Nidek Co., Ltd., TOMEY CORPORATION, Righton, GRAND SEIKO, Topcon Corporation, Potec, BON Optic, Coburn Technologies, Inc., Luneau Technology Group, and others are some of the leading players in the prominent auto keratometer market.
