Global Ophthalmic Lasers Market Segmentation, By Product Type (Femtosecond Lasers, Excimer Lasers, Nd: YAG Lasers, Diode Lasers, and Other Lasers), Application (Refractive Error Correction, Cataract Removal, Glaucoma Treatment, Diabetic Retinopathy Treatment, AMD Treatment, and Other Applications), End User (Hospitals and Clinics and Ambulatory Surgery Centers (ASCs) – Industry Trends and Forecast to 2031.
Ophthalmic Lasers Market Analysis
The combination of accuracy, relative low cost and safety make ophthalmic lasers a highly beneficial tool in the field of ophthalmology. Different lasers are used for different applications, including Argon laser, for the treatment of diabetic retinopathy, retinal holes, glaucoma, and retinal detachments. The prevalence of chronic disorders is escalating the growth of ophthalmic lasers market.
Global Ophthalmic Lasers Market Size
Global ophthalmic lasers market size was valued at USD 1.51 billion in 2023 and is projected to reach USD 2.79 billion by 2031, with a CAGR of 7.93% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Ophthalmic Lasers Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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Alcon (US), Carl Zeiss Meditec AG (Germany), Ellex Inc. (Australia), Abbott (US), Bausch & Lomb Incorporated (US), Topcon Corporation (Japan), IRIDEX Corporation (US), Lumenis. (Israel), Ziemer Ophthalmic Systems (Switzerland), NIDEK CO., LTD (Japan), Johnson & Johnson Surgical Vision Inc. (US), LUMIBIRD (France), LIGHTMED (US), Coherent, Inc. (US), Ocular Instruments. (US), ASICO, LLC. (US), Deka M.E.L.A. srl (Italy), and NoIR Laser Company, L.L.C. (US), among others
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Global Ophthalmic Lasers Market Definition
Ophthalmic lasers refer to the devices that enable precise treatment for wide range eye problems with little risk of infection. Most laser procedures are relatively pain-free and these procedures can be performed on an outpatient basis. The foot pedal, the laser delivery system and the laser console are categorized under the main components of a laser system. Various delivery systems are connected to the console by a fibre optic cable to transmit laser energy to the patient's eye.
Ophthalmic Lasers Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Prevalence of Ophthalmic Disorders
The rise in prevalence of ophthalmic disorders such as refractive errors, age-related macular degeneration, cataract, diabetic retinopathy and glaucoma, among others across the globe, is one of the major factors driving the growth of ophthalmic lasers market.
- Geriatric Population
The surge in the geriatric population accelerate the market growth as elderly population is more prone to ophthalmic disorders.
- Prevalence of Chronic Diseases
The increase in chronic diseases, such as diabetes among people, further influences the ophthalmic lasers market.
Opportunities
Furthermore, the increase in the number of regulatory approvals for ophthalmic lasers along with technological advancements extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise in the initiatives to control visual impairment will further expand the market.
Restraints/Challenges
On the other hand, high cost associated with the equipment and therapy, and availability of alternative therapies are expected to obstruct market growth. Also, unfavorable reimbursements for laser eye surgeries are projected to challenge the ophthalmic lasers market in the forecast period of 2024-2031.
This ophthalmic lasers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on ophthalmic lasers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Ophthalmic Lasers Market Scope
The ophthalmic lasers market is segmented on the basis of product type, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Femtosecond Lasers
- Excimer Lasers
- Nd: YAG Lasers
- Diode Lasers
- Other Lasers
Application
- Refractive Error Correction
- Cataract Removal
- Glaucoma Treatment
- Diabetic Retinopathy Treatment
- AMD Treatment
- Other Applications
End User
- Hospitals and Clinics
- Ambulatory Surgery Centers (ASCs)
Ophthalmic Lasers Market Regional Analysis
The ophthalmic lasers market is analyzed and market size insights and trends are provided by country, product type, application and end user as referenced above.
The countries covered in the ophthalmic lasers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the ophthalmic lasers market because of the development of sophisticated healthcare infrastructure within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the prevalence of cataract removal surgeries in the developing countries.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Ophthalmic Lasers Market Share
The ophthalmic lasers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to ophthalmic lasers market.
Ophthalmic Lasers Market Leaders Operating in the Market Are:
- Alcon (US)
- Carl Zeiss Meditec AG (Germany)
- Ellex Inc. (Australia)
- Abbott (US)
- Bausch & Lomb Incorporated (US)
- Topcon Corporation (Japan)
- IRIDEX Corporation (US)
- Lumenis. (Israel)
- Ziemer Ophthalmic Systems (Switzerland)
- NIDEK CO., LTD (Japan)
- Johnson & Johnson Surgical Vision Inc. (US)
- LUMIBIRD (France)
- LIGHTMED (US)
- Coherent, Inc. (US)
- Ocular Instruments. (US)
- ASICO, LLC. (US)
- Deka M.E.L.A. srl (Italy)
- NoIR Laser Company, L.L.C. (US)
Latest Developments in Ophthalmic Lasers Market
- ZEISS introduced a VISUMAX 800, a next generation of ZEISS femtosecond lasers in September’2021. The ZEISS VISUMAX 800, femtosecond lasers, offers a comfortable patient and surgeon experience as it declines potential transcription errors and laser time
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