Astigmatism Market Size Worth USD 2893.6 Million by 2030 | MRFR

Market OverviewThe analysis estimates that the worldwide astigmatism market would grow from its 2017 total of USD 6.02 billion to a whopping USD 2,893.6 Million by the end of 2030 and is anticipated to grow at a CAGR of 6.2% between 2022 and 2030. Astigmatism is a condition in which the eye can’t focus the light correctly, distorting vision when the light comes into the eye. The exact cause of astigmatism is still unknown but can be hereditary or due to an underlying medical condition. Astigmatism affects millions of people worldwide, and its prevalence is increasing with the aging population. Common treatments to maintain vision include eyeglasses, contact lenses, and refractive surgery. Industry OutlookThe increasing aging demographic, technological advancements in the diagnosis and treatment of astigmatism, and the presence of a vast patient pool in the developing nations are expected to be key factors for the market’s growth. The rising demand for eyecare services, the growing trend of refractive surgeries, and the rise in disposable income in developing countries are other key drivers of the market. However, sluggish regulatory approval and the risk of post-operative infection are hindering the market’s growth.Market SegmentationThe report segments the market by type, intervention, end-user, and geography.The global astigmatism market is divided into two distinct subsets: regular and irregular astigmatism.Based on intervention, the market is segmented into eyeglasses, contact lenses, and vision correction surgery. The eyeglasses segment held the largest market share in 2017 with contact lenses in second place. The vision correction surgery segment is likely to be the fastest-growing segment owing to its minimally invasive features and effectiveness.Based on end-user, the market is segmented into hospitals, eye clinics and ASCs, and research laboratories and academies.

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Geographical CoverageThe market is analyzed globally, including in North America, Europe, Asia-Pacific, and the R.O.W.In 2017, North America accounted for the majority of the global market for eye care devices and services. This is mostly attributable to the region's early adoption of cutting-edge technologies and eye care treatments. Further, a sizable patient base and an established healthcare infrastructure are fueling expansion.The European market is the second largest, and it is projected to develop at a healthy rate due to the existence of multiple important players and rising awareness among the people.The rising healthcare expenditure, government attempts to enhance access to healthcare facilities, and high frequency of eye illnesses such astigmatism due to environmental factors all point to the Asia-Pacific area as the fastest-growing market.Market ForecastDue to rising astigmatism rates, the worldwide astigmatism market is expected to expand rapidly over the next few years, along with technological advancements, and the presence of large patient pool. The growing demand for vision correction surgeries and the increasing acceptance of advanced treatments is expected to drive the market’s growth.Companies ProfiledThe major players in the astigmatism market are Alcon Laboratories, Inc., Valeant Pharmaceuticals International, Inc., Carl Zeiss AG, HOYA Corporation, Abbott Medical Optics, Inc., Tory Burch LLC, Essilor International S.A., CooperVision, Inc., VISX, Inc., Johnson & Johnson Vision Care, Inc., Bausch Health Companies, Inc., and Other Key Players.Mergers and acquisitions, strategic partnerships, and product launches are the key strategies adopted by these players to gain a competitive edge.ConclusionThe increased incidence of astigmatism, progress in treatment methods, and availability of a sizable patient base all bode well for the worldwide astigmatism market over the next several years. The increasing acceptance of vision correction surgeries and the increasing demand for advanced treatments are set to spur the market’s growth.