ID: MRFR/MED/5414-HCR | 85 Pages | Published By Kinjoll Dey on April 2023
The global ophthalmic lasers market size was valued is projected to reach USD 5.3 Billion at a CAGR of 19.7% from 2022 to 2030.
Ophthalmic Lasers Market Overview
The Ophthalmic Lasers Market was valued at over USD 5.3 billion and expected to register CAGR 19.7% during the forecast period (2022-2030). Ophthalmic lasers are medical devices that are used to treat eye ailments like glaucoma, cataracts, macular degeneration, and diabetic retinopathy. The laser console, foot pedal, and laser delivery system are the three major components of a laser system. In the ophthalmic laser treatment, laser energy is delivered to the patient's eye using a variety of delivery methods connected to the console through a fiber optic cable. This treatment can also be used to perform procedures like photocoagulation, vitrectomy, and laser capsulotomy.
The global market of ophthalmic lasers is predicted to rise as the geriatric population with ocular diseases grows, as does the number of product approvals and the frequency of chronic ophthalmic disorders. Furthermore, chronic diseases such as diabetes are responsible for retinal illnesses and the rising prevalence of eye ailments, thus contributing to the market's growth. The market is also growing with a rise in the senior population, resulting in more patients with vision problems or damaged eyes.
Ophthalmic Lasers Market Segmentation:
The Global Ophthalmic Lasers Market has been segmented on the basis of product, application, and End User.On the basis of product, the market has been classified as excimer lasers, femtosecond lasers, diode lasers, selective laser trabeculoplasty (SLT) laser, ND:Yag lasers, and others.The application segment has been divided into refractive error correction, cataract surgery, diabetic retinopathy, glaucoma surgery, age-related macular degeneration (AMD)treatment, and others.
The market, by End User, has been segmented into hospitals, specialty clinics, ambulatory surgical centers, and others.The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Ophthalmic Lasers Market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European Ophthalmic Lasers Market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The Market in the Middle East & Africa has been segmented into the Middle East and Africa.
Ophthalmic Lasers Market Regional Summary
Global Ophthalmic Lasers Market Share, by Region, 2017 (%)
Source: MRFR Analysis
The Americas are likely to dominate the Global Ophthalmic Lasers Market owing to the technological advancement in the region, increasing ophthalmic disorders and rising geriatric population. Increasing geriatric population results in increasing patients with compromised vision or damaged eyeball which is driving the market growth. According to the American Academy of Ophthalmology, Primary open-angle glaucoma (POAG) is increasing rapidly and by the end of 2050 more than 7.9 million people in the US will suffer from primary open-angle glaucoma (POAG). Moreover, favorable reimbursement policies and government initiatives for the development of the healthcare sector are also contributing to the growth of the market.
The European market is expected to be the second-largest ophthalmic lasers market. The market growth in this region can be attributed to the increasing ophthalmic surgeries in the region, raising awareness about the innovative technologies, and improvement in the healthcare sector with respect to infrastructure and facilities. According to the European Commission, cataract surgeries are common in the European region, and more than 4.5 million cataract surgeries were performed in European countries in 2016.
Asia-Pacific is expected to be the fastest-growing ophthalmic lasers market during the forecast period owing to the increasing prevalence of chronic diseases, rising investments in healthcare and expansions by market players in the region. According to the international diabetes federation, approximately 19% of the total population in the region is suffering from diabetes which is near to 84 million and caused 1.3 million deaths.
The market in the Middle East & Africa is expected to account for the smallest share of the global market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
Ophthalmic Lasers Market Key Players:
Some of the key players in the global ophthalmic lasers market are Alcon Laboratories, Inc., Abbott Medical Optics, Inc., Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Quantel Inc., Ellex Medical Lasers Limited, Ocular Instruments, Topcon Corporation, Ziemer Ophthalmic Systems AG, Iridex Corporation, Nidek Co., Limited, Lightmed USA, and Lumenis Ltd.
Global Market, by Product:
Global Market, by Application:
Global Market, by End User:
Global Market, by Region:
The EVO/EVO+ Visian Implantable Collamer Lens is available for the first time in Illinois at Kovach Eye Institute. This lens has been recently approved by the US Food and Drug Administration for the correction of myopia and myopia with astigmatism. EVO is an additive surgery that does not require the removal of corneal tissue or your natural lens, unlike other procedures. An EVO lens works with the natural elements of the eye to improve vision, comparable to adding a lens to a camera.
Ziemer USA, Inc., a subsidiary of Ziemer AG (Switzerland), has announced a new relationship with CorneaGen, a manufacturer and developer of FEMTO Laser Technology and Corneal Diagnostic equipment. Both firms hope to add new applications to the Z8 through their collaborative development efforts. The enhanced applications will allow the Z8 to undertake innovative corneal therapeutic treatments and have a significant clinical impact on patients.Intended Audience:
|Market Size||2030: USD 5.3 billion|
|Forecast Units||Value (USD billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Application, and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Alcon Laboratories, Inc., Abbott Medical Optics, Inc., Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Quantel Inc., Ellex Medical Lasers Limited, Ocular Instruments, Topcon Corporation, Ziemer Ophthalmic Systems AG, Iridex Corporation, Nidek Co., Limited, Lightmed USA, and Lumenis Ltd|
|Key Market Opportunities||
|Key Market Drivers||
The Ophthalmic Lasers Market is expected to register a CAGR of 19.7% by 2030
Alcon Laboratories, Inc., Abbott Medical Optics, Inc., Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Quantel Inc., Ellex Medical Lasers Limited, Ocular Instruments, Topcon Corporation, Ziemer Ophthalmic Systems AG, Iridex Corporation, Nidek Co., Limited, Lightmed USA, and Lumenis Ltd
The geriatric population with ophthalmic problems is the major driving factor of Ophthalmic Lasers Market.
The North America is the best-performing region of the global Ophthalmic Lasers Market