The Future of Refractive Correction and Global Visual Acuity Market in the forecast period (2019-2025) as predicted by Stratview Research

The report on Refractive Correction and Global Visual Acuity Market published by Stratview Research focusses on current trend insights and also predicts about the market condition and its future in the forecast period of 2019 – 2025

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This report provides a comprehensive analysis of the demands and opportunities in the Refractive Correction and Visual Acuity Market realities and future possibilities for the forecast period of 2019 to 2025. The report analyzes the refractive correction and visual activity market size, trends and forecasts in the most detailed manner to provide a panoramic view of the market.

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Report Segment
In order to determine the corrected visual acuity, a variety of test symbols are used by ophthalmologists and opticians. In addition to Landolt rings, Snellen charts, letters and numbers, symbols can also be used which are displayed at a specified distance via charts or test symbol projectors. Despite their differences in appearance, all these test symbols have one thing in common - their size is always five times the thickness of the line, and in the case of the Landolt ring, the gap width is also the same as the thickness of the line. In most of the market the conventional or manual chart projector are used. However, with new products and technology flooding this segment, optometrist have the choice between Automated Chart Projector, Polarized Digital Acuity System or conventional low-cost systems.
Several apps help in assessing visual acuity (near and distance), and a recent study concluded that in an emergency setting, visual acuity by a smartphone app is quite reliable though the brightness and contrast of the smartphone screens and the optotype sizes have to be standardized. Unique in visual acuity apps is the Peek Acuity app made for rapid mass vision screening which uses a tumbling E chart and unique gesture-based feedback. Other apps such as Eye Chart Pro are examples of newly formed market dynamics where patients and optometrists have a choice between conventional and app-based testing tools. This is an exciting segment and gives insights on the current and future trends of the market as well as the perception of the end user.
Eyeglasses are the simplest and safest way to correct refractive errors. Your eye care professional can prescribe appropriate lenses to correct your refractive error and give you optimal vision. Contact Lenses work by becoming the first refractive surface for light rays entering the eye, causing a more precise refraction or focus. In many cases, contact lenses provide clearer vision, a wider field of vision, and greater comfort. They are a safe and effective option if fitted and used properly. It is very important to wash your hands and clean your lenses as instructed in order to reduce the risk of infection. Last but not least, surgery is another major segment in this market.
Earlier this segment was driven by Ophthalmologists and Optometrists, but with the recent advances in home healthcare, several other players are active and that includes healthcare workers (operating mobile clinics in rural areas) and urban population with access to smart technologies (app based). The marketing of such tools depends on the end user and hence, information on the preferences matter for manufacturers and suppliers of devices in the acuity and refractive correction segment.
Markets outside of the United States are growing at a faster rate due to growing demand for refractive surgery in India and China. There are more than 5000 clinics in India which manages refractive correction. In 1999, the average price was over $2,000, but prices declined through 2003 and then began to increase again with the introduction of wavefront-guided LASIK, the prices came down further in 2018-2019.
When the market was nascent i.e. 2005-2006, the market in USA was very different. Players such as Visx, WaveLight, Bausch & Lomb, Alcon, and Nidek had the major share of the market. New players and market dynamics have changed the entire market in 2019. Now new players capture a considerable amount of market share in USA. New players such as 6over6 (Israel), Apple (USA), Ucansi (USA) and more have taken over the market by storm and have offered options for Practioners and users.

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Highlights of the Report:
Stratview Research reiterates the fact that in large areas of the world, there are no optometrists. There’s minimal testing of people, especially children. There are millions of people who are suffering from vision problems and hence the refractive correction and visual acuity market holds immense opportunity for new and established players.

Visual acuity is influenced by a wide variety of factors, which are determined not only by the eye itself, but also environmental influences. The interaction of the eye media such as cornea, lens or vitreous humour with the retina can lead to reduced visual acuity, for instance, if the media do not focus the incoming light on the retina, but instead focus it in front of the retina (short-sightedness), or behind it (long-sightedness), or if one focus point on the retina is not attained (astigmatism). In addition, damage to the eye media, the retina or the optic nerve can lead to reduced visual acuity. Due to paucity of trained optometrist in most of the developing world, this segment remains a high-demanding and opportunistic segment for many.

Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

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