- Femtosecond laser assisted cataract surgery (FLACS) is robustly gaining traction as a safe and effective treatment option for geriatric patients. Femtosecond lasers are replacing hand-held surgical tools, such as corneal incision, anterior capsulotomy, and cataract fragmentation, resulting into improved accuracy and precision.
- Key players in the excimer and femtosecond lasers market are introducing flapless procedures, such as Small Incision Lenticule Extraction (SMILE) to treat refractive errors, such as myopia, hypermyopia, presbyopia, and astigmatism.
- Mergers and acquisitions will massively influence the market during the forecast period 2016-2026. As advancements in technology have a bearing on the market, leading players are making a foray into the market through acquiring niche companies; for example, in 2010, Alcon, Inc. acquired LenSx Lasers, Inc. – a privately held company that developed the first femtosecond laser to receive U.S. FDA approval. Also, in 2013, Abbott acquired OptiMedica, and through this acquisition, Abbott Labs’ vision care expanded into the femtosecond laser-assisted cataract surgery market.
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Excimer Lasers vis-à-vis Femtosecond Lasers
Demand for excimer lasers will continue to be higher than femtosecond lasers during the forecast period; however, the latter will gain market share from the former during the forecast period. Excimer lasers account for a market share of over 63% currently; by the end of forecast period, this is expected to decline by 660 BPS. Increasing adoption of cataract surgery, combined with introduction of advanced femtosecond laser technology is expected to fuel demand for femtosecond lasers during the forecast period. While the global excimer ophthalmic lasers market is expected to increase at less than 4% CAGR through 2026, femtosecond laser market revenues are projected to expand at over 6.5%. However, an important thing to note here is that excimer lasers will continue to dominate the ophthalmic lasers market throughout the forecast period.
Excimer and Femtosecond Ophthalmic Lasers Market: Application
Demand for excimer and femtosecond lasers will continue to be strongest in refractive surgery. By application type, refractive surgery currently accounts for nearly 70% revenue share of the market and adoption of excimer and femtoseconds will gain further traction over the forecast period. Cataract surgery will remain the other dominant application segment, while capsulotomy, trabeculoplasty, and diagnostic application segments will hold less than 10% revenue share of the market.
End-user Analysis on Excimer and Femtosecond Ophthalmic Lasers Market
Hospitals, ambulatory surgical centres, and ophthalmology clinics are the three largest end-users of excimer and femtosecond lasers. Among these, ophthalmology clinics account for the highest revenue share of the market. This segment is anticipated to be valued at US$ 305 Mn in 2017 and surpass US$ 500 Mn in revenues by 2026.