Microkeratome Market Size Becoming Larger and Massively Growing Up with Double Digit of CAGR

The global microkeratome market size is expected to witness significant growth due to the growing prevalence of eye disorders coupled with the rising elderly population. For instance, according to the World Health Organization (WHO), refractive errors and uncorrected cataracts are the major causes of vision impairment. In 2019, around 2.2 billion cases of vision impairment or eye disorders were registered all across the globe.

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Furthermore, geographical expansions by industry players and the increasing awareness among patients are expected to propel the market growth. For instance, Schwind Eye-Tech Solutions performed around 6 million treatments in 100 countries as of July 2019 by installing its Amaris eximer lasers. Of these, the number of treatments performed using LASIK technology is 3.1 million. Schwind used femtosecond laser or microkeratome instrument for performing these treatments. Additionally, in July 2019, Johnson & Johnson Vision launched their Surgical Vision Experience Centre at its institute in Florida, U.S. for conducting various educational & training programs for ophthalmologists.

The global microkeratome market is expected to exhibit a CAGR of 10.1% during the forecast period (2020-2027) owing to the rising number of visual impairment cases in emerging economies. For instance, according to the WHO, about 5.3% of the total population in Rwanda, Africa was suffering from eye disorders, mainly refractive errors.
North America is projected to be the most lucrative region in the global microkeratome market owing to the increasing adoption of microkeratome procedures coupled with the rising number of age-related disorders.

Impact analysis of COVID-19

Microkeratomes are not in high demand due to the COVID-19 pandemic. The global market is hugely impacted in a negative way due to this crisis. Ophthalmologists are not seeing any patients affected by COVID-19 disease. Moreover, patients have also stopped visiting hospitals and clinics due to the spread of the virus. The situation is expected to gradually improve post-COVID, as the operations of ophthalmic centers and hospitals resume.

Key players in the market are focused on expanding their presence in different countries by conducting educational and training programs for patients as well as healthcare professionals. For instance, in July 2019, a Surgical Vision Experience Center was launched by Johnson & Johnson Vision at their institute in Florida, U.S. This center will serve as a laboratory setting and premier physical training space for various experiential educational programs offering in-depth, hands-on training for practicing ophthalmology for ophthalmic surgeons, optometrists, and ophthalmology residents.

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Some of the key players operating in the global market include:

• Essilor International
• Johnson & Johnson Vision Care
• Bausch & Lomb Incorporated
• CooperVision
• Hoya Corporation
• Carl Zeiss AG
• Alcon, Inc.
• Marvel Medtech
• STAAR Surgical Company
• Abbott Medical Optics Inc.

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