Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Tonometry Market Overview
Tonometry is referred to diagnostic procedure to measures the pressure inside your eye that is known as intraocular pressure (IOP). This procedure is used for examination of glaucoma disease which can cause blindness by the damaging the nerve inside the eye. Further, tonometer is the optical device for the diagnosis of the intraocular pressure.
Market Size and Forecast
The global tonometry market is expected to grow at a CAGR of 6.9% over the forecast period i.e. 2017-2024. Moreover, the global tonometry market is projected to account for outstanding sales by the end of 2024. Further, rising ophthalmic related healthcare development all over the globe is projected to foster the growth of tonometry market. Moreover, rising prevalence of eyes disorders is also projected to bolster the growth of tonometry market.
The global tonometry market is segmented into type, technology, modality, end user and region. Additionally, the type segment is further sub-segmented into applanation tonometry, pascal dynamic contour tonometer, rebound tonometer and indentation tonometer. Further, applanation tonometry segment in sub-segmented into contact and non-contact. From the above segments applanation tonometry segment accounted the largest share in 2016 in terms of revenue. Moreover, applanation tonometry segment is believed to register a highest CAGR by the end of 2024. Apart from this, hospitals segment by end user is envisioned to capture considerable CAGR over the forecast period. In addition to this, growing number of ophthalmic diagnostic centers in developing region is believed to be the dynamic factor behind the rapid growth of tonometry market.
In terms of geography, North America is projected to dominate the global market of tonometry during the forecast period. Additionally, U.S. is the leading country in this region due to numerous factors such as presence of major key vendors. Moreover, various players are rigorously investing into research and development activities related to imaging diagnostic products which is also projected to flourish the growth of tonometry market. Further, U.S. health care spending increased by 5.8% to reach USD 3.2 trillion which is also expected to impel the growth of tonometry market by the end of 2024.CLICK TO DOWNLOAD FREE SAMPLE
Europe region captured the significant share in the market of tonometry in 2016. Further, Western Europe countries such as U.K., Germany and others are believed to be the major countries witnessing the augmented demand for tonometry owing rising healthcare expenditure.
Further, Asia-Pacific region is projected to be the fastest growing tonometry market by 2024. Moreover, robust expansion of biotechnology companies in this region is expected to propel the growth of tonometry market. Moreover, initiatives taken by government in improve healthcare infrastructure is also envisioned to bolster the growth of tonometry market. Moreover, presence of highest number of geriatric population in this region mainly in japan is also projected to uplift the demand for tonometry for the diagnosis of glaucoma disease.
Market Segmentation
Our in-depth analysis segmented the global tonometry market in the following segments:
By Type
By Technology
By Modality
By End User
By Region
Global tonometry market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Rising incidences of glaucoma disease coupled with advancement in imaging diagnostic products for better diagnosis is expected to be the dynamic factor behind the rapid growth of tonometry across the globe. Further, diabetes is one the major factor which is increasing the prevalence of eye disorders among the population. Moreover, growing old age population along with high occurrence of diabetes among older population across the globe is a major factor which is likely to propel the demand for tonometer during the forecast period. Additionally, according to U.S. Census Bureau, 8.5 percent of people worldwide (617 million) are aged 65 and over, further this percentage is projected to boost to nearly 17 percent of the world’s population by 2050 (1.6 billion).
Furthermore, government initiatives to develop the healthcare infrastructure on the back of strengthening GDP figures of developing nations such as China, India, Malaysia and other countries is envisioned to bolster the growth of tonometry market. Additionally, according to vision2020australia, in Australia, 801,000 number of people aged 40 or over is expected to loss there vision by the end of 2020. Further, this factor is also predicted to foster the growth of tonometry market.
However, high cost of tonometry is expected to hinder the growth of tonometry market during the forecast period.
Key players
The major key players for tonometry market are as follows
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global tonometry market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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