Tonometers Market, Company Analysis and Forecast to 2024
Tonometers are devices assist in helping the eyecare professionals to determine the intraocular pressure (IOP) inside the eye. IOP is a fluid pressure in the eye. Tonometry is a diagnostic test which aids in examining whether the patient is at risk of glaucoma. This is an eye disorder wherein excess fluid pressure inside the eye tends to damage the patient’s optic nerve and might lead to permanent vision loss, if the damage retains. Tonometers help to detect this disorder, which usually does not show symptoms until at a later stage. The common target population for such kind of disease is the geriatric population. Moreover, diabetic patients are also at high risk of glaucoma. Hence, tonometers tend to be increasingly advantageous for such target population and they contribute towards the growth of the global tonometers market.
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Increasing geriatric population significantly supports the growth of tonometers market
Global tonometers market is driven by various factors, the foremost of which is increasing geriatric population. It is mostly detected among people aged 60 years and above. Moreover, chronic eye disorders also assist in driving the demand for tonometers. Glaucoma is also found as an inherited disorder; hence people with family history of glaucoma also fall under the target population of the global tonometers market. However, there are some limitations pertaining to tonometers. For instance, Goldmann applanation tonometers might lead to corneal abrasion or risk of spreading infection. Non-contact tonometers also include restraining factors such as poor accuracy level in the measurement of the ocular pressure. Hence, the aforementioned factors are expected to restrain the global tonometers market to some extent.
Applanation and indentation tonometers are the most commercially available tonometers
Global tonometers market is segmented on the basis of product type, end user and region. Product type is classified under applanation tonometers, indentation tonometers, rebound tonometers, pascal dynamic contour tonometers and others. Further, applanation tonometers are segmented into Goldmann applanation tonometers, Perkins tonometers, non-contact tonometers, ocular response analyzer and others. Applanation tonometers help in determining ocular pressure by applying a force which flattens the disk to the cornea. These tonometers are the most widely accepted by the eyecare professionals primarily due to the fact that such diagnostic testing device allows for accurate measurement. On the other hand, indentation tonometers are used to examine through a force which will indent or sink into the cornea of the soft eye as compared to a harder eye. Rebound tonometers are also emerging owing to its numerous advantages such as it does not require anesthetizing the eye. It is a contact rebound tonometer, which uses an extremely light probe.
On the basis of end user, tonometers are segmented into hospitals, clinics and others. Hospital segment is considered as the largest market owing to its wide usage in such facilities and hence, contribute towards significant revenue generation.
Technological advancements are propelling market growth in North America
Geographically, tonometers market is classified under North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is accounted for a significant share for the global tonometers market. This is primarily due to the fact that the healthcare expenditure in country like the U.S. is constantly growing, which in turn is expected to help the market for tonometers to grow. Moreover, technological advancements are also on a peak in these countries, which is expanding the product portfolio of tonometers. On the other hand, Asia Pacific is anticipated to gain lucrative growth over the forecast period due to increasing prevalence of diabetes in country like India. For instance, in 2015, 69.1 million people were suffering from diabetes in India according to International Diabetes Federation.
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Some of the major players of the global tonometers market include Canon Inc., Icare Finland Oy (Icare Finland is a part of Revenio Group Corporation), Topcon Corporation, HAAG-STREIT GROUP, NIDEK CO., LTD. and Reichert Technologies among others. Inorganic growth strategies are helping leading companies to obtain a competitive edge. Focus on enhancing product portfolio and inorganic growth approaches are some of the key strategic initiatives undertaken by these companies. In September, 2016, Icare launched Icare ic100 in order to expand its product portfolio.
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