Astigmatism is a common vision condition caused due to refractive error which leads to blurred vision. The imperfection in the curvature of eye’s cornea causes astigmatism. Market Research Future (MRFR) has published a report asserting that the global astigmatism market is marked to expand at a significant growth rate during the forecast period of 2019-2022.
The global astigmatism market has been segmented on the basis of type, treatment, and end-user. Based on type, the global astigmatism market has been segmented into myopic astigmatism, hyperopic astigmatism, and others. Among these, the myopic astigmatism segment is anticipated to project significant growth in the global astigmatism market owing to the prevalence of astigmatism occurring with myopia. Based on treatment, the global astigmatism market has been segmented into corrective lenses, orthokeratology (ortho-k), surgeries and others. The corrective lenses segment commands for the largest share in the global astigmatism market owing to the increased utilization of these lenses by individuals suffering from astigmatism and also for aesthetic purposes. based on end-user, the global astigmatism market has been segmented into hospitals, clinics, and others. Among these, the hospitals segment is expanding at a noteworthy growth rate during teh assessment period owing to teh increasing healthcare infrastructure and development of effective treatments.
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Rapid rise in geriatric population is leading to the increased prevalence of astigmatism, which in turn is inducing high demand for effective treatments in the global market, leading to the significant expansion fo the global astigmatism market. Growing awareness among the population of developing economies and increased disposable income are fueling the growth of the global astigmatism market. Increased government initiatives to spread awareness regarding astigmatism in underdeveloped regions and extensive research for the development of innovative treatment techniques are also propelling the expansion of the global astigmatism market. However, poor primary healthcare facilities and lack of awareness are likely to act as restraining factors for the growth of the global astigmatism market during the forecast period.
Novartis AG (Switzerland), SeaVision USA (U.S.), Johnson & Johnson Services, Inc. (U.S.), Bausch & Lomb Incorporated (U.S.), CooperVision, Inc. (U.S.), Orion Vision Group (Georgia) are some of the leading players at the cutting edge of the competition in the market of astigmatism, globally.
The major players profiled by MRFR that are operating in the global astigmatism market are Bausch & Lomb Incorporated, CooperVision, Orion Vision Group, Novartis AG, Johnson & Johnson Services, Inc., and SeaVision USA. The players in the global astigmatism market are focusing on the expansion of their businesses by increasing their research and development expenditure for the launch of new and advanced treatment solutions. Innovative initiatives such as strategic mergers and acquisitions and attractive discounts on the range of products are aiding these players to sustain the competitive environment of the global astigmatism market. For instance, in August 2018, it has been announced that Mailmylens.com, an online eyewear retailer, has started a sale of a wide range of branded Toric lenses that are specially designed for patients with astigmatism. These lenses are also useful for preventing infections and allergies that lead to blurring of the vision.
Latest Industry News
Bausch & Lomb Incorporated has announced the availability of Ultra for Astigmatism contact lenses with a cylinder power of -2.75 D. These lenses are available in power ranges from +6.00 D to -9.00 D. These lenses are equipped with MoistureSeal technology that helps them to maintain 95% of their moisture for 16 years.
Johnson & Johnson have announced the US launch of expanded parameters for 1-Day Acuvue Moist brand contact lenses for astigmatism. These lenses are daily disposable modality with a blink-stabilized design for clear and stable vision. They are also equipped with Lacreon technology that provides a cushion of moisture for long-lasting comfort.
The regional segmentation of the global astigmatism treatment market includes North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) and the rest of the world (RoW). North America is the largest market for astigmatism, and here the highest revenue is generated in Canada and the United States of America (USA). High technological advancement, government funding for research and development and high density of population make the USA, greater than Canada as a market.
Europe is the second largest market for astigmatism treatment where maximum revenue comes from France, Germany, Italy, Spain and the United Kingdom (UK), followed by rest of Europe.
In the Asia Pacific, the market is growing steadily, but it is still not as big as North America or Europe as this region lacks the technological advancements required for therapies. In this region, the biggest markets are Australia, China, India, Japan and South Korea, followed by the rest of the Asia Pacific countries.
In the MEA region, the market is small due to poor infrastructure and lack of education. However, during the forecast period, slow but steady growth is expected in this region.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
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