Increased incidence of ocular disorders, rising occurrence of chronic disorders, continuous authorizations and approvals and favorable initiatives to minimize vision impairment are key factors contributing to high CAGR of ophthalmic lasers market during the forecast period.
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.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply & demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key 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.
Market Segmentation by Types:
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
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Ophthalmic Lasers market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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Further key findings from the report suggest
- North America had obtained a market share of 34.5% and a market revenue of USD 361.2 in 2020. Increased incidence of chronic diseases, high occurrence of eye disorders, and continuous registration and approvals.
- According to the forecast period, the femtosecond lasers is planning to reach USD 691.6 million by 2028 due to the widespread presence of refractive errors and cataract, increasing the administered use of femtosecond lasers and technological innovations in the lasers itself.
- The hospital segment is going to project the largest share of the market due to new forefront technology in machines and devices and progressive growth of hospitals in upcoming segments.
- Asia Pacific is bound to show positive growth with a CAGR of 6.0% in 2028 due to the sudden increase in optic diseases, advancements in projects related to treatment.
- Johnson and Johnson had declared the completion of its investment with Abbott Medical Optics, an Abbott subsidiary, in 27th February 2017. The product portfolio consists of eye products that belong to cataract surgery, laser refractive surgery, and consumer eye health. These products merged with ACUVUE Brand Contact Lenses, and will now work under Johnson and Johnson Vision. Ellex Medical Lasers, a market leader in medical equipment, stated that it would continue its consensus with the U.S. based STAAR Surgical Company by selling and distributing its range of products, being refractive and cataract lens implant in Australia.
- A formal agreement has been formed between Lumibird, a market player based in Europe and Ellex Medical Lasers an Australian company, to obtain Ellex’s laser and ultrasound market thereby making it applicable for treatment of optical diseases.
- Ziemer Ophthalmic Lasers, based in Switzerland, developed protocols to integrate lenticular extraction capabilities for the initiation of the LDV Z8 femtosecond laser system.
- Technology consulting firm, IDTechEx, gave a demonstration on the recent advances in laser technology, is applied in laser material processing and industrial manufacturing.
- The ReLEx SMILE surgery innovated by Carl Zeiss Meditech is a keyhole laser surgery, which gives minimum injury than the standard methods followed, and it allows rectification of maximum myopic prescriptions.
- Accuracy with artificial intelligence is going to bring improvement in the market and will display accurate reference for determining a particular eye disorder and its way of improvement.
- The gene mutant RPE65 injected into the retina, provides instructions to develop a protein to restore normal eyesight.
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