Ophthalmic lasers have become very common in the surgical care of many eye disorders for correcting vision and repairing the damage. Ophthalmic lasers are extensively used in the treatment of a range of ophthalmic disorders such as glaucoma, diabetic retinopathy, vein occlusions, retinal holes, and retinal detachments, wild hairs on the eyelid, and rarely, in early forms of the wet type of age-related macular degeneration.
The extensive adoption of ophthalmic lasers is the major driving force behind the growth of the market. Moreover, the increasing number of product approvals along with the growing prevalence of chronic ophthalmic disorders are escalating the market on the global platform.
Acknowledging the enormous growth, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global ophthalmic lasers market will register over 4.6% CAGR during the forecast period (2018–2023), garnering exponential accruals.
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Additional factors propelling the market growth include the growing geriatric population, chronic disorders such as diabetes that are responsible for retinal diseases and increasing prevalence of disorders related to the eye as well as contributing to the growth of the market. Furthermore, substantial investments transpired in the development of new lasers and clinical tests foster the growth of the market.
On the other hand, factors such as the rising cost of ophthalmic procedures, the high price of ophthalmic lasers products, and lack of skilled personnel for the effective use of ophthalmic lasers products are expected to impede the growth of the market.
Nevertheless, factors that will support the growth of the market include the growing awareness towards eye care, regulatory shift in focus towards resolving unmet medical needs, technical advancement that is making the eye surgeries easier and the improving economic conditions, worldwide that is increasing the access to the quality healthcare.
Global Ophthalmic Lasers Market – Segments
For enhanced understanding, the report has been segmented into four key dynamics.
By Product: Excimer Lasers, Femtosecond Lasers, Selective Trabeculoplasty (SLT) Laser, and Diode Lasers among others.
By Application: Refractive Error Correction, Diabetic Retinopathy, Glaucoma Surgery, Age-Related Macular Degeneration (AMD)Treatment, and Cataract surgery among others.
By End-user: Hospitals, Specialty Clinics, and Ambulatory Surgical Centers among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Ophthalmic Lasers Market – Regional Analysis
The market in the Americas is expected to dominate the global ophthalmic lasers market during the forecast period owing to the increasing prevalence of chronic diseases, a growing geriatric population which is suffering from ophthalmic disorders, technological advancements in the healthcare sector, and favorable reimbursement policies in the region. The European market is expected to be the second-largest due to the increasing ophthalmic surgeries in the region, the high adoption rate of innovative technology, and development in the healthcare sector. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to the increasing population, the rising prevalence of chronic diseases and rising healthcare investment. The market in the Middle East & Africa is likely to account for the smallest share of the global ophthalmic lasers market.
Global Ophthalmic Lasers Market – Competitive Analysis
Highly competitive, the global ophthalmic lasers market enjoys the presence of many large and small players which makes the market to appear fragmented. Ophthalmic lasers market is no exception when it comes to adopting strategic trends, to sustain in their market position and to drive the market.
Key players operating in the market adopt the same prevailing strategic initiatives such as merger & acquisition or strategic collaboration and investing in local manufacturers in emerging economies for product developments and manufacturing activities.
Key Players:
Some of the key players in the global ophthalmic lasers market are Carl Zeiss Meditec AG, Alcon Laboratories, Inc., Abbott Medical Optics, Inc., Bausch & Lomb Incorporated, Ocular Instruments, Quantel Inc., Ellex Medical Lasers Limited, Topcon Corporation, Ziemer Ophthalmic Systems AG, Iridex Corporation, Nidek Co., Limited, Lightmed USA, and Lumenis Ltd.
Industry, Innovation & Related News
January 30, 2019 ---- Lutronic Vision (South Korea), a subsidiary of Lutronic Corporation, a leading global manufacturer of aesthetic and medical laser systems, and related technology announced the initiation of a preclinical trial to determine the optimal setting for its R: GEN™ laser for the treatment of Dry AMD (the dry form of age-related macular degeneration).
At the conclusion of this study, Lutronic Vision will be poised to initiate clinical evaluation of the R: GEN™ laser’s ability to treat Dry AMD.
Lutronic Vision is bringing to market the world’s first laser for Selective Retina Therapy™ with Real-Time Feedback (RTF) Technology. Through this pioneering mechanism, Lutronic aims to introduce a new concept in ophthalmic retinal lasers that will ultimately lead to better vision and an improved lifestyle for patients and practitioners, worldwide.
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