According to a report published by Allied Market Research, the global ophthalmic lasers market garnered $1.11 billion in 2016, and is estimated to reach $1.51 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023. Based on the findings of the report, the photocoagulation lasers segment garnered the highest share in the global market, contributing for nearly three-fourths of the total market share in 2016.
A laser emits light through the process known as optical amplification, which is carried out using the stimulated emission of electromagnetic radiation. There is a widespread usage of lasers in the field of ophthalmology as the laser-tissue interactions are involved in the medical applications such as ophthalmology. There is a usage of medical lasers in treatment of a broad array of eye-related diseases, including cataract, age-related macular edema, glaucoma, and diabetic retinopathy.
Surge in number of eye-related diseases, technological advancements in the laser, and rise in awareness regarding laser applications in ophthalmology facilitate the growth in the market. However, strict safety regulations and increase in rate of failure of surgeries that involves usage of lasers restrain the market growth. On the other hand, untapped potential in emerging economies, such as LAMEA and Asia-Pacific, along with rise in disposable income would offer new opportunities to the manufacturers. The Nd:YAG lasers segment would grow at the highest CAGR of 5.2% from 2017 to 2023. This is due to diverse applications of the lasers for treating different types of various eye diseases.
Download Sample Report @ https://www.alliedmarketresearch.com/request-sample/2013
Key Findings of the report:
- The photo disruption lasers segment is expected to register a CAGR of 3.0% throughout the forecast period.
- North America contributed the highest market share in 2016 based on regions, contributing for nearly two-fifths share of the total market share. Moreover, the segment is expected to dominate in terms of revenue by 2023.
- The eye clinics segment contributed for a major share in 2016, with more than one-fourth of the total market.
- Based on application, The glaucoma surgery segment contributed to the highest CAGR of 6.6% in the market in 2016.
In 2016, North America held the major market share, accounting for nearly two-fifths of the market, owing to the surge in prevalence of eye-related diseases and rise in adoption of technologically advanced products. Europe contributes to the second position in the market.
The major companies analyzed in the report are Carl Ziess Meditec Ag, Topcon Corporation, Novartis AG, Quantel Inc., Ellex Medical Corporation, Nidek Co., LTD., Iridex Corporation, Abbott Laboratories, Lumenis, and Ziemer Ophthalmic Systems. They have adopted various strategies including new product launches, collaborations, expansions, partnerships, mergers & acquisitions, and others to gain stronghold in the industry.
Allied Market Research, a market research and advisory company of Allied Analytics LLP,
provides business insights and market research reports to large as well as small &
medium enterprises. The company assists its clients to strategize business policies and
achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection
to investment advice. The analysts at Allied Market Research dig out factors that help
clients to understand the significance and impact of market dynamics. The company
amplies client’s insight on the factors, such as strategies, future estimations, growth
or fall forecasting, opportunity analysis, and consumer surveys among others. As
follows, the company offers consistent business intelligent support to aid the clients
to turn into prominent business firm.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: +1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060