ID: MRFR/MED/1202-HCR | 90 Pages | Author: Rahul Gotadki | June 2023
The astigmatism market is projected to reach USD 2,893.6 Million by 2030 at 6.2% CAGR during the forecast period 2022-2030. Astigmatism, as a medical problem, is a common vision condition that is caused due to refractive error which leads to a dismantled and blurred vision. The imperfection in the curvature of the eye's cornea is the reason that causes astigmatism.
If a person is suffering from the condition of astigmatism, the cornea of the eye is likely to be irregularly shaped. Astigmatism has a high chance of occurring when there is an irregularity in the curvature of the lens inside the eye. If anyone is undergoing the treatment for astigmatism treatment, the patient is provided a contact lens or glasses that alters the way of light that is entering the eye. There has been a huge demand for astigmatism treatment and the main reason behind this is the increasing number of eye injuries and visual defects globally.
The astigmatism treatment is further facing a growing trend due to increasing awareness of eye care and related requirements. Astigmatism results in blurred vision and the availability of various treatment options available in astigmatism treatment makes it an affordable and approachable treatment.
COVID 19 Analysis
The sudden outbreak of the novel coronavirus pandemic has introduced disruption in the demand and supply chain mechanism of the market. Even though the demand for medical healthcare services and facilities has increased, the demand is purely dedicated to the treatment of patients that have tested positive for the virus. The doctors, nurses, and the other medical staff followed by the constant and urgent need for medical attention is likely to hamper the projected growth for the astigmatism market during the ongoing forecast period based on the predictions of the market investors and business chiefs.
However, the availability of medical professionals over video calls and conferences is still a possible choice for many people who are suffering from different medical ailments including the ones that are seeking astigmatism treatment. The relaxation of the lockdowns followed by the reduction in the number of positive cases for the novel coronavirus is helping the market enjoy the window of development and growth during the ongoing forecast period.
Astigmatism Market Dynamics
The Astigmatism treatment as sought by the potential target audience is available in various kinds of hospitals and eye specialty clinics. Laser treatments are being considered as a part of astigmatism treatment have gained popularity globally due to their effectiveness and results. Contact lenses and eyeglasses are convenient and easy approaches to the treatment and hence, the demand for astigmatism treatment.
The global demand for astigmatism treatment is increasing due to the increasing number of visual impairments worldwide. The increasing prevalence of deformities in the cornea is a driving factor for the astigmatism treatment market.
However, the availability of poor primary healthcare facilities and lack of awareness are likely to act as restraining factors for the growth of the astigmatism market during the forecast period.
The substantial rise in the number of treatment options available for astigmatism treatment is acting as a major force that is driving the global market demand for astigmatism treatment, especially during the ongoing forecast period. The has been an increasing number of eye care clinics that are further propelling the demand for astigmatism cases. The added benefits that extend to the increasing popularity of laser treatments are also expected to play a major role in driving the demand for astigmatism cases.
The technological aspects of the global market show that there has been an increasing innovation in the field of eye care treatment that is driving the market for astigmatism treatment for the ongoing forecast period. The aspects related to the increasing awareness of eye disorders and cornea deformities are also likely to be increasing the demand for astigmatism treatment.
Astigmatism Market Segment Overview
The global astigmatism test as a part of the astigmatism market has been segmented to meet the needs of the global target audience. The global market has been segmented as follows:
Based on type
The astigmatism market has been segmented based on the type and includes myopic astigmatism, hyperopic astigmatism, and others. Among these segments of the market, the myopic astigmatism segment is anticipated to project significant growth in the astigmatism market because of the prevalence of astigmatism occurring with myopia.
Based on treatment
The astigmatism market has been segmented based on the treatment for the medical problem into corrective lenses, orthokeratology (ortho-k), surgeries, and many others. The corrective lenses segment of the global market commands the largest share in the astigmatism market. The global growth can be attributed to the increased utilization of these lenses by individuals suffering from astigmatism and also for aesthetic-related purposes.
Based on end-user
The astigmatism market has also been segmented based on the end-users into hospitals, clinics, and others.
Astigmatism Market Regional Analysis
Geographically, the astigmatism market has been segmented based on the regions into four major regions such as North America, Asia Pacific, Europe, and the Middle East and African region. Among these, the North American region commands the largest share in the astigmatism market during the ongoing forecast period. There has been a rise in the geriatric population, followed by the presence of a well-developed healthcare sector and the growing prevalence of astigmatism among the elderly and adult population are likely to be propelling followed by the expansion of the astigmatism market in the North America region. The European region is likely to emerge as the second-largest share in the global market premises owing to the presence of prominent players followed by the high awareness regarding astigmatism along with extensive research and development activities that is present in the well-developed healthcare and pharmaceutical sector of this region.
The high-rise in the patient population, growing awareness regarding the available treatments, and the development of government initiatives towards spreading awareness regarding astigmatism are fueling the growth of the astigmatism market in the Asia Pacific region.
Astigmatism Market Competitive Landscape
Some of the prominent market players that are playing a major role in the expansion of the global astigmatism industry during the forecast period are mentioned as follows:
There are some of the leading players functioning at the cutting edge of the competition in the market of astigmatism, globally.
The rise in the demand for treatment effectiveness and the various convenient approaches that are available for the treatment of astigmatism is propelling the market demand for astigmatism treatment and hence, playing an important role in the propelling rate and size of the market.
Bausch Lomb Incorporated, another prominent market company has announced the availability of Ultra for Astigmatism contact lenses with a cylinder power of -2.75 D. These lenses are demanded and available in power ranges from +6.00 D to -9.00 D. These lenses are equipped with features like MoistureSeal technology that helps them to maintain 95% of their moisture for about 16 years.
Johnson Johnson is another prominent market player that has announced the US launch of expanded parameters for 1-Day Acuvue Moist brand contact lenses for astigmatism. These lenses have features like daily disposable modality with a blink-stabilized design for clear and stable vision.
The global market report helps in highlighting the core competencies of the global market followed by the role of the key market players. The report also helps in laying a deep understanding of the global market followed by the market dynamics in the form of the drivers and restraints that have an important role to play in the market study and also, estimate the CAGR growth and the revenue estimation of the market during the ongoing forecast period. The report also helps in understanding the rising competition and developments of the market.
|Market Size||2,893.6 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Treatment, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Novartis AG, SeaVision USA, Johnson & Johnson Services, Inc., Bausch & Lomb Incorporated, CooperVision, Orion Vision Group|
|Key Market Opportunities||
|Key Market Drivers||
North America will lead the astigmatism market.
Key end users of astigmatism market include clinics, hospitals, and others.
Key players profiled in the astigmatism market include Orion Vision Group, CooperVision, Bausch & Lomb Incorporated, Johnson & Johnson Services, Inc., SeaVision USA, and Novartis AG, among others.
Ageing population and rising prevalence of eye disease are the key factors driving the astigmatism market.
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