Global Astigmatism Market Information, by type (Myopic Astigmatism, Hyperopic Astigmatism and others), by treatment (Corrective Lenses, Orthokeratology (Ortho-K), Surgeries and others), by end user (Hospital, Clinics and others) - Forecast to 2027
Market Synopsis of Astigmatism Market: Market Scenario: Astigmatism is a type of vision problem which occurs due to an error in the shape of cornea. In this disease the lens of the eye or the cornea at the front surface of the eye has an irregular curve. This causes changes in the way of light passing, or refracting to the retina. It is a common refractive error which accounts for about 13% of all refractive errors. The prevalence of astigmatism varies with age although it has high prevalence in the initial months of the infant, which drives the growth of the market.
The global market is expected to reach US$ XX by the end of the forecasted period and is expected to grow at a CAGR of XX%.
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Market Overview:
Astigmatism is a common vision condition caused due to refractive error which leads to blurred vision. The imperfection in the curvature of eye’s cornea causes astigmatism. Market Research Future (MRFR) has published a report asserting that the global astigmatism market is marked to expand at a significant growth rate during the forecast period of 2015-2022.
Rapid rise in geriatric population is leading to the increased prevalence of astigmatism, which in turn is inducing high demand for effective treatments in the global market, leading to the significant expansion fo the global astigmatism market. Growing awareness among the population of developing economies and increased disposable income are fueling the growth of the global astigmatism market. Increased government initiatives to spread awareness regarding astigmatism in underdeveloped regions and extensive research for the development of innovative treatment techniques are also propelling the expansion of the global astigmatism market. However, poor primary healthcare facilities and lack of awareness are likely to act as restraining factors for the growth of the global astigmatism market during the forecast period.
Market Segmentation:
astigmatism surgerymarket has been segmented on the basis of type, treatment, and end-user. Based on type, the global astigmatism market has been segmented into myopic astigmatism, hyperopic astigmatism, and others. Among these, the myopic astigmatism segment is anticipated to project significant growth in the global astigmatism market owing to the prevalence of astigmatism occurring with myopia. Based on treatment, the global astigmatism market has been segmented into corrective lenses, orthokeratology (ortho-k), surgeries and others. The corrective lenses segment commands for the largest share in the global astigmatism market owing to the increased utilization of these lenses by individuals suffering from astigmatism and also for aesthetic purposes. based on end-user, the global astigmatism market has been segmented into hospitals, clinics, and others. Among these, the hospitals segment is expanding at a noteworthy growth rate during teh assessment period owing to teh increasing healthcare infrastructure and development of effective treatments.
Key Players:
Novartis AG (Switzerland), SeaVision USA (U.S.), Johnson & Johnson Services, Inc. (U.S.), Bausch & Lomb Incorporated (U.S.), CooperVision, Inc. (U.S.), Orion Vision Group (Georgia) are some of the leading players at the cutting edge of the competition in the market of astigmatism, globally.
The major players profiled by MRFR that are operating in the global astigmatism market are Bausch & Lomb Incorporated, CooperVision, Orion Vision Group, Novartis AG, Johnson & Johnson Services, Inc., and SeaVision USA. The players in the global astigmatism market are focusing on the expansion of their businesses by increasing their research and development expenditure for the launch of new and advanced treatment solutions. Innovative initiatives such as strategic mergers and acquisitions and attractive discounts on the range of products are aiding these players to sustain the competitive environment of the global astigmatism market. For instance, in August 2018, it has been announced that Mailmylens.com, an online eyewear retailer, has started a sale of a wide range of branded Toric lenses that are specially designed for patients with astigmatism. These lenses are also useful for preventing infections and allergies that lead to blurring of the vision.
Latest Industry News:
- Bausch & Lomb Incorporated has announced the availability of Ultra for Astigmatism contact lenses with a cylinder power of -2.75 D. These lenses are available in power ranges from +6.00 D to -9.00 D. These lenses are equipped with MoistureSeal technology that helps them to maintain 95% of their moisture for 16 years.
- Johnson & Johnson have announced the US launch of expanded parameters for 1-Day Acuvue Moist brand contact lenses for astigmatism. These lenses are daily disposable modality with a blink-stabilized design for clear and stable vision. They are also equipped with Lacreon technology that provides a cushion of moisture for long-lasting comfort.
Regional Analysis:
Geographically, the global astigmatism market has been segmented into four major regions such as North America, Asia Pacific, Europe, and the Middle East and Africa. Among these, the North America region commands for the largest share in the global astigmatism market. Rise in geriatric population, presence of well-developed healthcare sector and growing prevalence of astigmatism among elderly and adult population are propelling the expansion of the astigmatism market in the North America region. The Europe region commands for the second largest share in the global astigmatism market owing to the presence of prominent players and high awareness regarding astigmatism along with extensive research and development activities in the well-developed healthcare and pharmaceutical sector of this region. High patient population, growing awareness regarding the available treatments and government initiatives towards spreading awareness regarding astigmatism are fueling the growth of the astigmatism market in the Asia Pacific region. Poor healthcare infrastructure and lack of awareness are resulting in the slow growth of the astigmatism market in the Middle East and Africa region.
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