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Ophthalmic Lasers Market Overview
Market Research Future (MRFR) has predicted in its latest report that the global ophthalmic lasers market register CAGR 4.6% 2018 to 2023 (forecast period). It was valued at over USD 1,050 million in 2017. The report on the ophthalmic lasers market provides a detailed overview of the business prospects along with insights on the sales trends, occurrence of diseases, and the market opportunities.
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The ophthalmic laser is a medical device used to target ophthalmic cells to treat ophthalmic disorders. Ophthalmic lasers are used to treat a broad range of eye problems. It is used in a number of ophthalmic disorder procedures, including cataract surgery, laser trabeculoplasty, retinal photocoagulation, and laser iridotomy. Significant precision, low-cost, safe operation, and versatile ophthalmic instruments have expanded the market demand for ophthalmic lasers.
Ophthalmic Lasers Market Key Players
Key players in the global ophthalmic lasers market are
- Alcon Laboratories Inc.
- Abbott Medical Optics Inc.
- Carl Zeiss Meditec AG
- Bausch & Lomb Incorporated
- Quantel Inc.
- Ellex Medical Lasers Limited
- Ocular Instruments
- Topcon Corporation
- Ziemer Ophthalmic Systems AG
- Iridex Corporation
- Nidek Co. Limited
- Lightmed USA
- Lumenis Ltd.
Ophthalmic Lasers Market Dynamics
Growing prevalence of chronic disorders including ophthalmic disorders, increasing efforts to treat vision impairment, rising geriatric population with ophthalmic problems, and increasing regulatory approvals for new products are some of the factors fueling the growth of the global ophthalmic lasers market. In addition, chronic diseases such as diabetes are responsible for retinal diseases, increasing the incidence of eye-related disorders are leading to market development. Diabetes has affected more than 422 million people suffering from diabetes in 2016 and an estimated 2.2 million deaths, according to the World Health Organization (WHO).
The increasing cost of ophthalmic procedures, the high price of ophthalmic laser products, and the lack of qualified personnel for the effective use of ophthalmic laser products may hinder the market growth.
Ophthalmic Lasers Market Segmentation
The global ophthalmic lasers market is segmented by product, application, end-user, and region.
Based on the product, the market has been categorized as excimer lasers, femtosecond lasers, diode lasers, selective laser trabeculoplasty (SLT) lasers, ND: yag lasers, and others. The application segment has been categorized into refractive error correction, cataract surgery, diabetic retinopathy, glaucoma surgery, age-related macular degeneration (AMD) treatment, and others.
End-users in the market comprise specialty clinics, hospitals, ambulatory surgery centers, and others.
Geographically, the market covers the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa.
The Americas is pegged to dominate the global market for ophthalmic lasers due to technological advancements in the region, increasing ophthalmic disorders, and growing geriatric population. The geriatric population has patients with poor vision or damaged eyeball can drive the market demand owing to its surgeries. According to the American Academy of Ophthalmology, primary open-angle glaucoma (POAG) cases are rising continuously with more than 7.9 million people in the US predicted to be diagnosed with POAG by the end of 2050.
The second-largest demand for ophthalmic lasers is projected to be the European market. Its growth can be attributed to growing ophthalmic surgeries in the area, rising awareness of emerging technologies, improving infrastructure, and facilities in the healthcare sector. According to the European Commission, cataract surgeries are widespread in the European region, and more than 4.5 million cataract surgeries were conducted in European countries in 2016.
APAC is projected to be the fastest-growing for ophthalmic lasers in the forecast period due to the rising prevalence of eye diseases, rising investment in healthcare, and the expansion of market players in the region. According to the International Diabetes Federation, nearly 19% of the total population in the world suffers from diabetes, which is equivalent to 84 million, and has caused 1.3 million deaths.
The demand in the Middle East & Africa is expected to account for the lowest share of the global market for ophthalmic lasers due to underdeveloped infrastructure, lack of technological expertise and inadequate medical facilities.
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1Research Objective
2.2.2Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
…Continued
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