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“The use of ophthalmic lasers is expected to increase in the near future, owing to the rise in prevalence of various eye-related diseases globally. Technological advancements mark a significant trend in the area of ophthalmic lasers, which are expected to propel the growth of the ophthalmic lasers market during the forecast period”
The Global Ophthalmic Lasers Market was valued at $1.1 billion in 2016, and is projected to reach $1.5 billion by 2023, with a increasing CAGR of 4.5% from 2017 to 2023, according to a new report published by Allied Market.
The photocoagulation lasers segment dominated the global market, accounting for a share of nearly three-fourths of the total market in 2016.
The Nd:YAG lasers segment is expected to register highest CAGR of 5.2% from 2017 to 2018. This is attributed to diverse applications of these lasers in the treatment of various eye diseases.
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A laser is a device that emits light through a process of optical amplification based on the stimulated emission of electromagnetic radiation. This device is used increasingly in the area of ophthalmology as there is an understanding of laser-tissue interactions in this medical application, such as ophthalmology. This results into use of medical lasers in treating a wide spectrum of eye-related diseases, such as cataract, glaucoma, age-related macular edema, and diabetic retinopathy.
The factors that drive the ophthalmic lasers market are surge in number of eye-related diseases, advancements in the laser technology, and increased awareness for laser application in the area of ophthalmology. However, stringent safety regulations and high rate of failure of surgeries involving use of lasers limit the market growth. Emerging nations, such as LAMEA and Asia-Pacific, and increasing disposable income are expected to provide major opportunities to the manufacturers of ophthalmic lasers.
In 2016, North America accounted for a share of two-fifths of the global market, owing to the increase in prevalence of eye-related diseases and high adoption of technologically advanced products. Europe holds the second position in the global ophthalmic lasers market.
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Major Key Players of Market:
- Carl Ziess Meditec Ag,
- Novartis AG,
- Topcon Corporation,
- Ellex Medical Corporation,
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