Tonometer Market: Current Analysis and Forecast (2021-2027)

The tonometer market has captured significant market demand and is expected to grow at a CAGR of 5% during the forecast period. The tonometer market has captured significant market demand and is expected to grow at a CAGR of 5% during the forecast period. This is mainly due to increasing incidences of ocular diseases such as glaucoma, ocular hypertension, and diabetic retinopathy. Furthermore, the rising prevalence of ocular hypertension in the geriatric population is responsible for the rising demand for tonometers. For example, as per the NCBI research, The prevalence of ocular hypertension in the general population ranges between 2.7-3.8%. OHT increases with age, from 1.7-2.7% in the age group of 40 to 49 years, 2.7-4.6% in the 50 to 59 years range, to 4.1-7.5% in people older than 80 years.

COVID-19 has slowed the growth of the tonometer market, as countries were forced to implement lockdowns during the first half of 2020. The healthcare facilities were only treating emergency cases and postpended the inessential appointments including eyecare centers. Furthermore, the COVID-19 pandemic also halted the supply chain which results in a shortage of the raw material required for the manufacturing of the devices.

include OCULUS, Halma Plc, Metall Zug Group, Revenio Group PLC, AMETEK Inc., Rexxam Co. Ltd., Kowa American Corporation, Topcon Corporation, NIDEK CO.LTD, and Canon Inc are some of the key players in the market. Several strategic measures have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

"Amongst technology, applanation category is expected to witness considerable growth during the forecast period"

Based on technology, the market has been categorized into applanation tonometer, non-contact tonometer, rebound tonometer, and indentation tonometer. Amongst these, the applanation category is expected to witness significant growth during the forecast period. This is mainly due to the increasing demand for minimally invasive and painless diagnostic procedures. Furthermore, the frequent product launches and technological advancements catalyze the market growth of the applanation tonometers. For example, in November 2021, TAKAGI announced the launch of the AT-2 applanation tonometer. It is based on Goldmann applanation tonometry and designed for use with TAKAGI slit lamps, the AT-2 provides rapid, safe, and accurate intraocular pressure (IOP) measurement required for the diagnosis of such conditions as glaucoma, ocular hypertension, and retinal detachment.

"Amongst portability, handheld category held a significant share in 2020"

Based on the portability, the market has been categorized into desktop and hand-held. Amongst these, the hand-held category is expected to witness the fastest growth in the tonometer market. The rising demand for lightweight, cost-efficient, and user-friendly equipment rise the demand for hand-held tonometers. Furthermore, with the rising geriatric population and the increasing cases of ocular hypertension among them rises the demand for self-monitoring home care diagnostic equipment including tonometers.

"Amongst type, indirect category held a significant share in 2020"

Based on type, the market has been categorized into direct and indirect. Amongst these, the indirect category is expected to witness significant growth during the forecast period. The rising demand for minimally invasive and painless diagnostic procedures along with increasing cases of ocular hypertension drives the segmental growth of the indirect methods in the tonometer market. Furthermore, the availability of a wide range of products and technology in the category attributed to the market growth of the segment in the tonometer market. For instance, rebound tonometry is an indirect method of tonometry that analyses the motion parameters of a bouncing probe after colliding with the cornea.

"Amongst end-users, specialty to lead growth in the global tonometer market"

Based on end-user, the market is classified into hospitals & clinics, specialty centers, and others. The specialty centers category accounted for a significant share in the market in the tonometer market. Cost-effectiveness and accessibility are the major factors expected to drive the market growth over the forecast period. Furthermore, the surging ophthalmic diseases along with the specialization of the specialized clinics in eye care treatment are the contributing factors to the growth of the segment in the market. For example, according to the American Academy of Ophthalmology (AAO), in 2021, myopia, an eye focusing disorder, was a significant, prevalent disease that affected an estimated 25% of Americans.

"North America to witness significant growth during the forecast period"

North America holds a lucrative market share owing to favorable government policies and rising healthcare expenditure are some of the prominent factors driving the region's market. For instance, in Canada, the Canada Health Act establishes criteria and conditions related to insured health services and extended health care services that the provinces and territories must fulfill to receive the full federal cash contribution under the Canada Health Transfer (CHT). In the fiscal year 2020-2021, the CHT was $41,870,000,000. Furthermore, the growing old-aged population coupled with the rising diseases are also responsible for the market growth of the diagnostic industry. The presence of the major economies, higher disposable income, and the presence of well-established market players in the region are the few driving factors that drive the market growth of the tonometer in the region.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

• The report presents a quick review of overall industry performance at one glance.

• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

• Deep dive regional level analysis of the industry.

Customization Options:

Global tonometer market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.