The global ophthalmic lasers market was valued at USD 1,168.7 Million by the year 2020 and is expected to reach USD 1,699.0 Million in the year 2028, at a CAGR of 4.9%. Lasers have become a factor of a necessity for ophthalmologists. These provide proper treatment of various eye disorders with fewer chances of infection. The lasers depend on the radioactive material; it cures diabetic retinopathy as the blue, green wavelengths are formed, and the cells absorb the wavelengths below the retina and the hemoglobin itself. It avoids the leakage caused in the blood vessels. Retinal photocoagulation is the first clinical laser application. According to the recent survey conducted, around 285 million people are visually blind. 43% of the population have refractive errors, and 51% (including the 50 above population) suffer from cataract. Latest therapies in the market involves the scatter laser treatment, used to cure the slow progression of diabetic retinopathy and also in patients suffering from the successive loss of vision with non-high risk Proliferative Diabetic Retinopathy and Non-proliferative Diabetic Retinopathy.
The drivers responsible for the growth of the ophthalmic laser market is the increased population incidence of eye disorders, the rise in obese and geriatric population, maximum capabilities to bring visual impairment under control, upcoming technological innovations and legal approvals for ophthalmic lasers.
The femtosecond lasers have brought improvements in the ophthalmic lasers market. The LASIK (laser in-situ keratomileusis) surgery paved the way for effective treatment of cataract and refractive eye surgery. Certain viable restraining factors includes the steep prices in equipment facilities and remedies, and contrary remuneration in laser eye surgeries will hinder the market growth in the coming forecast period.
Top Companies Profiled in the Report Include:
Abbott Medical Optics, Inc., Johnson and Johnson (USA), Alcon Laboratories (Switzerland), Bausch and Lomb (United States), Ellex Medical Lasers Limited (Australia), Lumenis Ltd., Nidek Company (Japan) and IRIDEX Corporation (U.S.), Carl Zeiss Meditec, Ziemer.
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Market Overview:
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
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The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, RD activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
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Additionally, the report consists a detailed analysis of the segmentation of the Ophthalmic Lasers market based on product types and end-use/application offered in the Ophthalmic Lasers market.
Product Outlook (Revenue in Million USD; 2018–2028)
- Diode lasers
- Excimer lasers
- Femtosecond lasers
- Nd: YAG lasers
- Others
Application Outlook (Revenue in Million USD; 2018–2028)
- Age related macular degeneration treatment
- Cataract treatment
- Glaucoma treatment
- Refractive eye surgery
- Diabetic Retinopathy Treatment
- Other Applications
End Use Outlook (Revenue in Million USD; 2018–2028)
- Hospital
- Eye clinics
- Ambulatory surgery centers
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Ophthalmic Lasers market in these key regions.
Country-wise regional analysis covers:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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