Tonometry Devices Market is Estimated to Witness High Growth, Owing to Increasing Prevalence of Glaucoma and Growing Geriatric Population
Tonometry devices market is estimated to be valued at USD 378.1 Mn in 2024, exhibiting a CAGR of 6.6% over the forecast period 2024-2031. Furthermore, increasing adoption of non-invasive tonometers can drive the market growth.
Market Dynamics
Tonometry devices market growth is primarily driven by increasing prevalence of glaucoma globally. As per World Health Organization, in September 2023, nearly 4.5 million people suffered from glaucoma globally in 2020. Untreated glaucoma can eventually lead to vision loss. As tonometry devices play a vital role in diagnosing glaucoma, rising caseload of the disease can boost demand for these devices. Moreover, growing geriatric population can also drive the market growth as older people are more susceptible to glaucoma
Increasing prevalence of glaucoma can drive the tonometry devices market
Glaucoma is one of the leading causes of blindness globally. In February 2024, according to the Glaucoma Research Foundation, over 3 million Americans have glaucoma, and this number is expected to increase to over 4.2 million by 2030. Glaucoma prevalence is increasing rapidly with age, affecting over 8% of people over 80 years of age. Tonometry is an essential test for glaucoma screening and diagnosis. Growing glaucoma burden worldwide can boost demand for tonometry devices. Market players such as Topcon Corporation, and other are developing innovative tonometry devices such as rebound, non-contact and Icare tonometers which are more accurate, easy to use and affordable.
Transition to home monitoring tonometers can drive the market growth
There has been growing trend of self-monitoring and home care for chronic diseases. Traditionally, tonometry tests have been performed in eye clinics and hospitals. However, companies are now developing portable tonometers that can be used for self-monitoring at home. For instance, Icare Home tonometer has significantly boosted the market. This allows frequent monitoring of patients at risk of glaucoma progression and reduces the need for frequent hospital visits. The cost-effectiveness of home monitoring tonometers can also boost their demand. Their user-friendly design makes self-monitoring hassle-free. The transition to home use tonometers is poised to revolutionize glaucoma management and drive the market growth.
High cost of advanced tonometry devices hinders adoption of tonometry devices
While technological advancements have improved tonometry testing, the associated costs of these devices can hamper the market growth. Rebound and non-contact tonometers providing accurate IOP measurements cost upwards of US$ 1,000. This high price prevents their widespread adoption, especially in developing regions and price-sensitive markets. Limited healthcare budgets and lack of adequate reimbursement policies further restrict procurement. This cost barrier poses a challenge, particularly for small optometry practices and ophthalmologists in rural areas. To penetrate untapped markets fully, companies must focus on ways to make advanced tonometers more affordable without compromising quality.
Growing geriatric population in developing regions presents lucrative opportunities
The prevalence of glaucoma rises steeply with age. Developing countries in Asia Pacific and Latin America have growing geriatric populations. For instance, according to THG Publishing Private Limited, a publisher, the number of Indians aged 60 years and above is projected to increase from 103 million in 2011 to 300 million by 2050. This demographic shift will result in a proportional rise in glaucoma cases. As awareness about glaucoma increases in emerging cities and rural areas, there will be huge demand for diagnostic technologies like tonometers. Market players can tap into these largely untapped markets by marketing affordable tonometry devices and training local healthcare providers. Comprehensive glaucoma screening programs are also needed to detect cases early.
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Key Developments
- On September 11, 2024, iCare, a eye care technology manufacturer, announced the launch of a new tonometer with a slit lamp-mounted design. The iCare ST500 uses rebound tonometry technology and includes a universal adapter, making the tool suitable for most slit lamps.
- On May 24, 2024, Reichert, Inc. launched handheld tonometer in U.S. The company’s Tono-Vera Tonometer with ActiView Positioning System allows for automated and reliable intraocular pressure (IOP) measurements by utilizing rebound tonometer technology, eliminating the need for topical anesthetic.
- On May 16, 2024, Prevent Blindness, a volunteer eye health and safety organization, launched a new campaign, “It Started with an Eye Exam” to encourage consumers to share their stories of how eye care had a positive impact on their health and wellbeing. The goal of the new program is to increase awareness about the role that vision health plays in overall health, demonstrate the dramatic impact that improved vision can have on productivity and quality of life, and to educate the general public about steps these can take to prepare for an eye examination.
- In April 2023, NIDEK CO., LTD., a global leader in the design, manufacturing, and distribution of ophthalmic, optometric, and lens edging equipment, announced the launch of NT-1/1e Non-Contact Tonometer models
Key Players
Reichert, Inc., NIDEK CO., LTD., Accutome Inc., Marco Lombart, Veatch Ophthalmic Instruments, Icare Finland Oy, Mainline Instruments, DevelopAll Inc., Biomedix Optotechnik & Devices Private Limited, HANSON INSTRUMENTS, Keeler, and Topcon Corporation
