The global ophthalmic lasers market reflects an impressive growth owing to the growing prevalence of refractive errors across the world. According to a report, published by Fortune Business Insights, titled, “Ophthalmic Lasers Market: Global Market Analysis, Insights and Forecast, 2019-2026” the global market is expected to register a CAGR of 5.3% between 2019 and 2026. In addition to this, the global market was worth US$ 479.0 Mn in 2018 and is anticipated to reach US$ 722.0 Mn by 20226. The increasing incidence of ocular diseases, such as glaucoma, age-related macular degeneration, and refractive errors, is driving the ophthalmic lasers market. As the drugs for treating ocular diseases is less, the demand for ophthalmic laser devices has come into existence.
“Excimer Lasers Gain an Upper Hand Over Other Laser Types”
In 2018, the excimer lasers among other types of ophthalmic lasers covered 39.2% of the global Ophthalmic Lasers Market. These lasers are used for procedures such as refractive error correction. Recent technological advancements are expected to boost the segment growth during the forecast period. The demand for ophthalmic laser systems is likely to increase in hospitals, ophthalmic laser centers among others.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• IRIDEX Corporation
• Lumenis
• NIDEK CO., LTD.
• Carl Ziess Meditec AG
• Ellex Medical Lasers Ltd.
• TOPCON CORPORATION
• NoIR Laser Company, LLC
• Lumibird
“Carl Zeiss’s VisuMax Receives FDA Approval to Bring Innovation in Laser Eye Surgery”
The global ophthalmic lasers market is semi-consolidated with the presence of three leading players. These players include Lumenis, TOPCON CORPORATION, and Ellex Medical Lasers, Ltd. covered the maximum share in the year 2018. These players are well-recognized and have a robust distribution network in the medical laser segment. Such factors are responsible for the dominance of these players. Several companies are focusing on to launch new products in order to strengthen their distribution channel.
For instance, Novartis AG (Alcon) announced FDA approval for LenSx in March 2018. The product has two indications, one for creating tunnels allowing placement of corneal rings, whereas the other is to create corneal pockets for effective placement of presbyopia-correcting inlays. Another company called Carl Zeiss Meditec AG announced FDA approval for VisuMax femtosecond laser system in September 2016. This system is used to perform small-incision lenticule extraction for refractive correction.
Market Segmentation:
By Application
• Cataract Treatment
• Glaucoma Treatment
• Refractive Errors Treatment
By End User
• Ophthalmic Laser Centers
• Hospitals
By Geography
• North America (the USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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“Technological Advancements Such as Selective Laser Trabeculoplasty Propels Growth”
The burgeoning population suffering from ocular diseases and technological advancements in ophthalmology are contributing to the growth of the Ophthalmic Lasers Market. “These technologies are expected to enhance the accuracy of ophthalmic laser treatment,” stated a lead analyst at Fortune Business Insights. Technologies such as Selective Laser Trabeculoplasty or SLT are used to reduce the eye pressure in glaucoma. Optical Coherence Tomography or OCT is an imaging technique used to identify retinal disorders using quantitative data.
The rising awareness about the early diagnosis and preventive medical care are factors presenting a large patient pool suffering from ocular diseases. Furthermore, people across the world are increasingly becoming aware of the laser treatment methods for cataract, refractive errors, and glaucoma. This is further expected to stimulate growth in the Ophthalmic Lasers Market over the forecast years.
Contrary to this, there are countries where people aren’t completely aware of ophthalmic lasers. This is expected to impede the growth of the market in the forecast years. Also, the high costs associated with the ophthalmic laser procedures may hamper the market’ s growth. People in low-scale countries aren’t able to afford such treatment, which can eventually restrict the growth of the market to an extent.
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