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A Microkeratome is a surgical instrument used for cutting the cornea during refractive surgery procedures like LASIK and PKR. It helps create a corneal flap of precise depth, improving the safety and accuracy of refractive surgeries. Microkeratomes use an oscillating blade or a microkeratome head with a microthin blades to gently cut and lift a thin corneal flap. Key uses include improving visual acuity by correcting refractive errors like myopia, hyperopia, and astigmatism.
The global Microkeratome Market is estimated to be valued at US$ 910.3 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising demand for refractive surgeries is expected to drive the growth of the Microkeratome Market over the forecast period. Microkeratomes play a key role in refractive procedures like LASIK that have grown in popularity due to their convenience and effectiveness. According to the American Refractive Surgery Council, refractive surgeries have doubled over the last decade with over 1.5 million procedures performed in the US alone in 2019. Moreover, aging demographics face increasing cases of presbyopia leading to poor near vision, boosting the demand for corneal refractive treatments. However, technological advancements have led to the introduction of laser-enabled femtosecond lasers that can create flaps without a blade, posing competition to traditional microkeratomes. Despite this, the precision control and cost-effectiveness of mechanical microkeratomes ensure continued adoption. Ongoing R&D aims to develop newer microkeratome designs with improved safety, accuracy and Automation for robust adoption across geographies.
Segment Analysis
The global microkeratome market can be segmented based on product type, surgery type, end user and region. Based on product type, the microkeratome market can be classified into single-use microkeratomes and re-usable microkeratomes. Re-usable microkeratomes dominated the market in 2022 owing to their longer shelf life and cost effectiveness when used for multiple surgeries. Based on surgery type, the microkeratome market is classified as LASIK (Laser-Assisted in-Situ Keratomileusis) and LASEK (Laser Epithelial Keratomileusis). In 2022, LASIK held a major market share due to higher preference among eye care professionals and patients. LASIK provides faster recovery and improved visual outcomes. Based on end user, the microkeratome market is segmented into hospitals, ophthalmic clinics and ambulatory surgical centers. Hospitals represented the largest end user segment in 2022 due to availability of advanced facilities and ophthalmologists.
PEST Analysis
Political: No strict regulations exist for microkeratomes but potential regulations can affect the pricing and supply of these devices. Economic: Rising disposable incomes and growing healthcare expenditure are boosting demand for elective ophthalmic procedures like refractive surgeries, driving market growth. Social: Increasing prevalence of myopia and rising awareness about eye correction procedures are fueling the adoption of microkeratomes. Technological: Ongoing R&D in developing advanced microkeratomes with improved maneuverability, precision, accuracy and safety is a key trend.
Key Takeaways
The global microkeratome market size was valued at US$ 910.3 Mn in 2023 and is expected to reach ~US$ 1.5 Bn by 2030, expanding at a CAGR of around 10% during the forecast period. North America held the largest market share in 2023 owing to the presence of major players and increasing incidence of refractive errors. Regional analysis related content comprises North America accounted for over 30% share of the global microkeratome market in 2023 due to the presence of major players in countries like the US and Canada. Asia Pacific is expected to witness highest growth during the forecast period owing to growth in medical tourism, rising healthcare infrastructure and booming eye care industry in countries like India and China.
Key players operating in the microkeratome market are EssilorLuxottica, Bausch & Lomb Incorporated or its affiliates, Johnson & Johnson Services, Inc., Carl ZEISS AG, Hoya Corporation, Alcon, Inc., STAAR Surgical, Marvel Medtech, Novartis AG and HAAG-Streit Group. Key players like Johnson & Johnson Services, Inc., Carl ZEISS AG and Novartis AG hold a major market share due to their diverse product portfolios and strong geographical reach. STAAR Surgical is emerging as an innovative player in this market with a focus on developing advanced microkeratomes.
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- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
