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.
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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.
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.
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.
Segmentation:
The global ophthalmic lasers market has been segmented on the basis of product, application, and end-user.
The market, by product, has been classified as excimer lasers, femtosecond lasers, diode lasers, SLT laser, ND:Yag lasers, and others
On the basis of application, the market has been segregated into refractive error correction, cataract surgery, diabetic retinopathy, glaucoma surgery, age-related macular degeneration (AMD)treatment, and others.
The end-user segment has been segmented into hospitals, specialty clinics, ambulatory surgical centers, and others.
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.
Major Players
Key players leading the global ophthalmic lasers market include Abbott Medical Optics, Inc., Alcon Laboratories, Inc., Carl Zeiss Meditec AG, Quantel Inc., Bausch & Lomb Incorporated, Ellex Medical Lasers Limited, Topcon Corporation, Ocular Instruments, Ziemer Ophthalmic Systems AG, Nidek Co. Limited, Lumenis Ltd., Iridex Corporation, and Lightmed USA among others.
Table of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1Research Objective
2.2.2Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1Bargaining Power of Suppliers
5.1.2Bargaining Power of Buyers
5.1.3Threat of New Entrants
5.1.4Threat of Substitutes
5.1.5Intensity of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
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