Microkeratome Market Driven by the Increasing Prevalence of Eye Diseases Worldwide

 

Microkeratome Market

Microkeratome is a high-precision surgical instrument used for Laser Eye Surgery (LASIK) and Anterior Lamellar Keratoplasty (ALK). In 1990, the microkeratome was introduced into the equation to result in the LASIK procedure that doctors are using today. Therefore, with the increasing prevalence of eye diseases worldwide, demand for microkeratome is also increasing rapidly. According to the World Health Organization (WHO), refractive errors and uncorrected cataracts are the leading cause of vision impairment. In 2019, around 2.2 billion people suffered from eye disorders or vision impairment. This in turn is expected to augment the growth of the microkeratome market, worldwide.

Moreover, according to the WHO, worldwide, one billion people have a vision impairment that could have been prevented or has yet to be addressed. One billion people includes those with moderate or severe distance vision impairment or blindness due to cataract (65.2 million), trachoma (2 million), diabetic retinopathy (3 million), corneal opacities (4.2 million), cataract (65.2 million), unaddressed refractive error (123.7 million), as well as near vision impairment caused by unaddressed presbyopia (826 million). Therefore, there is an increasing demand for microkeratome worldwide, driving the growth of the microkeratome market.

The microkeratome market growth can also be attributed to the growing geriatric population around the world. The geriatric population is highly susceptible to different types of age-related diseases such as macular degeneration (both dry and wet). Moreover, vision loss among the elderly is a major health care problem. Around one in three has some form of vision-reducing eye disease by the age of 65. According to the WHO, by 2050, the world's population aged 60 years and older is expected to total 2 billion, up from 900 million in 2015. Thus, there is an increasing demand for LASIK and ALK, which in turn increase the demand for microkeratome.

However, growth of the microkeratome market is witnessing a decline due to the emergence of COVID-19 (the global pandemic). This is because ophthalmologists are not seeing patients with COVID-19 and footfall has also decreased in hospitals and diagnostic centers. Moreover, now, people have started adopting new LASIK technologies, such as the use of femtosecond laser for the treatment of various eye diseases. Thus, increasing development and adoption of new LASIK technologies is expected to restrain the microkeratome market growth. Besides, the emergence of photorefractive keratectomy (PRK) is also expected to hinder the demand for LASIK and hence the need for microkeratome devices.


Location: United States

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