Ophthalmic Lasers Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3705
Ophthalmic Lasers Market size is projected to experience significant growth from 2019 to 2025.
The ophthalmic lasers market is estimated to witness considerable growth over the forth coming years. High growth is attributed to increasing prevalence of ophthalmic disorders such as cataract, refractive errors, glaucoma, diabetic retinopathy and Age-Related Macular Degeneration (AMD). As per National Eye Institute (NIH), in the U.S., 1.3 million people are blind and 2.9 million people have low vision, which is expected to rise in the future. Moreover, increasing awareness among the population about several optometry laser surgeries for the early detection and timely treatment of ocular diseases will further augment market growth.
Growing initiatives to control visual impairment is a major market driving factor. For instance, in April 2017, Australian government-initiated funds for a national programme providing eye health testing equipment as well as support and training for health services in about 100 sites across Australia. Such initiatives are estimated to show a positive market growth trajectory over the forecasted timeline.
However, presence of a stringent regulatory framework for the approval of new ophthalmic lasers will highly impact market growth. Also, associated post-surgery complications such as dry eyes, halos and double vision, astigmatism, flap problems and others will further limit market growth.
The diode lasers segment is expected to witness substantial growth over the forecast period. These lasers are used to treat wide range of ocular disorders. High segmental growth is expected owing to increasing usage of diode lasers in ophthalmologic procedures such as cataract surgery, laser trabeculoplasty, retinal photocoagulation, and laser iridotomy. Moreover, affordable cost coupled with significant surgical accuracy will further drive segmental growth.
Refractive error means the shape of the eye does not bend light correctly, resulting in a blurred image. Refractive error corrections segment is expected to hold major chunk of revenue over the forecast period owing to increasing incidence of refractive eye errors among both adults and children. Also, growing usage of laser surgeries to correct refractive errors will further augment market growth.
The eye clinics segment is expected to witness substantial growth over the forecast period. Eye clinics offer state-of-the-art facilities for appropriate lasik eye surgery at an affordable rate. Additionally, increasing preference of people in developed as well as developing economies for clinics over other medical facilities due to efficiency and affordability will further augment market growth.
The U.S. will experience considerable growth over the forecast period owing to presence of skilled professionals and technological advancements. Moreover, increasing prevalence of ophthalmic disorders in the U.S. will escalate ophthalmic lasers market growth. Also, rising healthcare expenditure in the country coupled with development of sophisticated healthcare infrastructure will further propel market growth.
China is expected to witness significant growth in the ophthalmic lasers market during the analysis period. High growth is attributed to increasing prevalence of eye disorders in various parts of China. Moreover, growing FDA approvals for ophthalmic lasers in the region will further augment business growth. For instance, in June 2016, China FDA announced the approval for Ellex Medical Lasers Limited’s YAG laser complete portfolio of vitreous floaters, glaucoma and secondary cataract treatment in the Chinese market.
Some of the key industry players include Alcon Laboratories Inc., Johnson & Johnson Surgical Vision Inc., Bausch & Lomb Incorporated, Ellex Medical Lasers Limited, IRIDEX Corporation, Carl Ziess Meditec Ag, Topcon Corporation, Quantel Inc., Ziemer Ophthalmic Systems and Abbott Laboratories. Key strategies adopted by industry players include strategic collaborations, partne rships, mergers, and innovative product launch to expand their business product portfolio.
Ophthalmic Lasers Market by Product, 2014-2025 (USD Million)
- Diode lasers
- Femtosecond lasers
- Excimer lasers
- Nd:YAG lasers
- SLT lasers
Ophthalmic Lasers Market by Application, 2014-2025 (USD Million)
- Cataract removal
- Refractive error corrections
- Diabetic retinopathy
Ophthalmic Lasers Market by End-use, 2014-2025 (USD Million)
- Eye clinics
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Alcon Laboratories Inc.
- Johnson & Johnson Surgical Vision Inc.
- Bausch & Lomb Incorporated
- Ellex Medical Lasers Limited
- IRIDEX Corporation
- Carl Ziess Meditec Ag
- Topcon Corporation
- Quantel Inc.
- Ziemer Ophthalmic Systems
- Abbott Laboratories
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