The global Microkeratome Market is estimated to be valued at US$ 910.3 Mn or 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 Overview:
Microkeratomes are eye surgery devices used in refractive surgery procedures like LASIK to cut a flap in the cornea that helps to correct vision problems like myopia, hyperopia and astigmatism. They offer minimally invasive and safe procedures for correcting refractive errors.
Market key trends:
Femtosecond lasers are replacing microkeratomes for creating corneal flaps in LASIK procedures owing to their precision and safety. Femtosecond lasers allow surgeons to control laser parameters like flap thickness, diameter and side cut angles more precisely compared to microkeratomes. They reduces incidence of complications and improves predictability of outcomes. This shift towards femtosecond lasers is expected to hamper the demand for microkeratomes over the forecast period.
Segment Analysis
The global microkeratome market is dominated by lamellar keratoplasty sub-segment which held around 60% share of the total market in 2022. This is because lamellar keratoplasty is a preferred technique for treating keratoconus and other corneal ectatic disorders as it offers advantages like minimal loss of stromal tissue, faster visual rehabilitation, and less of a risk of endothelial rejection when compared to penetrating keratoplasty.
Key Takeaways
The global microkeratome market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing prevalence of refractive errors and increasing corneal transplantation procedures.
Regional analysis
North America dominated the global Microkeratome Market Size in 2022 and is expected to continue its dominance over the forecast period. This is attributed to the increasing prevalence of eye diseases and technological advancements in the region. Asia Pacific is expected to witness the fastest growth during the forecast period owing to rising healthcare expenditures and huge patient population base in the region.
Key players
Key players operating in the microkeratome market are EssilorLuxottica, Bausch & Lomb Incorporated or its affiliates, Johnson & Johnson Services, Inc., CooperVision, Carl ZEISS AG, Hoya Corporation, Alcon, Inc., STAAR Surgical, Marvel Medtech, Novartis AG, HAAG-Streit Group, NIDEK CO., LTD, Bausch Health Companies Inc., Sonomed Escalon, Topcon Corporation, Gulden Ophthalmics, FCI, Ziemer Ophthalmic Systems AG, and Glaukos Corporation. The major players are focusing on new product launches and regulatory approvals to strengthen their market position.
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