July 21, 2024

Our Customized Microkeratome Market: Powered by Technological Advancements

The global microkeratome market is driven by continuous advancements in corneal transplantation procedures. Microkeratomes are surgical instruments used to create flap during laser-assisted in situ keratomileusis (LASIK) eye surgery. They are used to produce precisely controlled incisions of desired depth and thickness enabling surgeons to access and reshape the cornea. Advancements in microkeratome technology have improved their precision, safety, and efficiency in performing LASIK. Recent microkeratomes incorporate features such as controllable blade oscillation, real-time flap thickness monitoring, and automatic shutdown mechanisms reducing risks of complication.

The global microkeratome market is estimated to be valued at US$ 910.3 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 key trends:
The microkeratome market is witnessing rising demand for bladeless laser-assisted devices. Laser-assisted microkeratome eliminate risks associated with blade-based cutting and enable creation of thinner and more precise flaps. Advancements including femtosecond lasers and IntraLase femtosecond laser have enabled nearly painless and blade-free flap creation process. Their precision and minimal collateral tissue damage provide superior visual outcomes compared to traditional blades. Manufacturers are further enhancing laser technology with features such as eye-tracking and 3D imaging integration for optimized flap profiling tailored to individual eye anatomy. This is expected to drive higher adoption of laser microkeratomes over the forecast period.
Porter’s Analysis

Threat of new entrants: The microkeratome market requires significant capital to establish manufacturing facilities and R&D. Furthermore, key players have established brand identity and supply chain networks making new entry difficult.

Bargaining power of buyers: Individual buyers have low bargaining power due to availability of generic variants. However, large healthcare institutions are able to negotiate on price and receive discounts based on volume.

Bargaining power of suppliers: Key players source raw materials like titanium and alloys from few specialized suppliers globally increasing supplier bargaining power. Suppliers can charge premium and control supply disruptions.

Threat of new substitutes: Technology advancements have introduced newer eye surgeries like Laser assisted in situ keratomileusis (LASIK) and femtosecond lasers posing threat. However, microkeratome provides economical alternative and remains standard-of-care globally.

Competitive rivalry: The market has few large multinational players and several regional mid-sized companies. Players differentiate based on technology, efficacy, and branding leading to tough competition.

Key Takeaways
The global Microkeratome Market is expected to witness high growth over the forecast period. North America is expected to dominate the market during the forecast period owing to rising cases of refractive errors and growing acceptance of refractive surgeries in the region.

Regional analysis: The North America region is expected to hold a major share in the global microkeratome market due to high refractive surgeries adoption and growing geriatric population in countries like the US and Canada. Asia Pacific is anticipated to witness fastest growth fueled by rising healthcare infrastructure and awareness in China, India & South Korea.

Key players: Key players operating in the Microkeratome Market are EssilorLuxottica, Bausch & Lomb Incorporated or its affiliates, Johnson & Johnson Services, Inc. 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.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

2.      We have leveraged AI tools to mine information and compile it