The Global Automatic Keratometer Market Size was over USD 9.5 billion globally in 2020 and is estimated to grow over 7.5% CAGR between 2021 and 2027. Auto Keratometer (automated keratometer), also known as auto refractor keratometer, is the instrument used in measurement of refractor error degree in the eye. This automated refractor is a computer-controlled machine used in eye examination and offers optimal refractive error measurements. Furthermore, auto keratometers are used in assessing the patient condition in pre and pro refractive surgeries and have extended applications in ophthalmology. Myopia (nearsightedness) and hyperopia (farsightedness) are common vision problems and mainly occur due to refractive errors. Auto keratometer can perform spherical and cylindrical measurements in a range of -30 to +25D/±10D respectively. These provide cornea’s peripheral and central curvatures at various points and are widely used in determining astigmatism in the patient. Keratometry is the concept of measuring anterior surface of cornea curvature across a fixed chord length. Keratometer, also known as an ophthalmometer, is the instrument used to measure the curvature. Auto keratometer is a type of keratometer based on the principle of constant image size and variable image size. Auto keratometer is a compact device and comparatively easier to operate. This keratometer allows reflecting the corneal images on an electronic photosensitive device which then records size and radius of the curvature.
An increase in the incidence of myopia and other refractive errors, the launch of ophthalmic instruments offering accurate readings, and technological advancements are major driving factors for the auto keratometer market. Furthermore, a rise in awareness about astigmatism and its diagnosis is likely to be another driving factor for the auto keratometer market. An increase in the number of ophthalmic clinics in the developing regions and diagnosis accuracy offered by auto keratometers are likely to drive the global market. Availability of various treatments such as lenses and Lasik surgery is expected to lower the complications of astigmatism condition. Furthermore, Manufacturers have integrated auto refractors into the products to improve efficiency which has enhanced the accuracy and demand for the auto keratometers. The surge in the number of patients suffering from post-cataract surgery and pre-existing astigmatism condition is another prevailing factor for the market growth globally. The high cost of auto keratometers over manual keratometers is a major restraining factor for the auto keratometer market.
The hand-held auto keratometers segment is expected to dominate the market share in the 2020 of global Automatic keratometer market. The global auto keratometer market has witnessed robust growth due to increasing demand for handheld auto keratometers devices. The auto keratometer market has a strong presence of international players who account for the major market share. Domestic players account for a significant low share when compared with international players due to the slow adoption of technology. There are huge opportunities for untapped markets across the world due to the potential benefits of auto keratometers.
The myopia segment is expected to dominate the market share in 2020 of global Automatic keratometer market. This is attributed to the fact that Astigmatism is a common vision condition that causes blurred vision, eyestrain, and headaches. The prevalence of astigmatism has been on the rise across the globe due to the irregular curvature of the eye lens or cornea. This is boosting the demand for auto keratometers for the determination of astigmatism, and this is another factor that is expected to fuel the growth of the auto keratometer market during the forecast period.
North America is projected to dominate the auto keratometer market during the forecast period, owing to technological advancements in the development of automated keratometers, growing demand for diagnosis of refractory errors, the prevalence of astigmatism conditions, supportive health care expenditure, government initiatives, and creating awareness about astigmatism condition in the region. The presence of key players in developing automated keratometer is major boosting factor for the growth of the market in the region. Moreover, the surge in health care expenditure and advanced healthcare facilities are anticipated to fuel the growth of the auto keratometer market in the region. Europe is estimated to hold the second-largest share of the global market followed by the Asia Pacific in the next few years. Growing demand and availability of automated keratometer, and increasing health care expenditure are major factors boosting the auto keratometer market in Europe. Asia Pacific is a fastest-growing region in the next few years, owing to the growing patient population suffering from astigmatism condition. According to the WHO, the prevalence of myopia is higher in younger adults in the population of Asia. Prevalence of myopia is recorded higher in East Asia. Moreover, China, Japan, and Singapore had a total prevalence rate of myopia up to 50% in 2015. Comparatively, the prevalence of myopia estimated as per NCBI research was around 6.8% to 21.6% in 2016 globally.
Key Companies & Recent Developments
Partnerships, strategic mergers, and acquisitions are expected to be the most successful strategies for industry participants to get speedy access to growing markets while also improving technological capabilities. The auto keratometer market has a strong presence of international players who account for the major market share. Domestic players account for a significant low share when compared with international players due to the slow adoption of technology. There are huge opportunities for untapped markets across the world due to the potential benefits of auto keratometers. Key players in the auto keratometers market are mainly focused on innovation to accelerate the development process due to the limited number of innovative companies. In the future, the auto keratometer market is anticipated to double its growth rate.
Market Segmentation of Global Automatic keratometer Market
1. Handheld Auto Keratometer
2. Benchtop Auto Keratometer
3. Other Ophthalmic Conditions
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