Ophthalmic Lasers Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Ophthalmic lasers Market

The ophthalmic lasers market size was valued at USD 479.0 Million in 2018, and the market is now projected tgrow tUSD 989.9 Million by 2032, exhibiting a CAGR of 5.3% during the forecast period of 2019-2032.

Ophthalmic lasers market has alsbeen impacted by COVID 19 majorly because some procedures including elective surgeries were put on hold and more emphasis was on emergency services. The dispersal impact of this shift was a reduction of the ophthalmic lasers’ use during the persistence of maximum pandemic influence. The market has now bounced back thanks tfew electoral operations, development of laser technologies and the rise in the incidence of eye disorders that may need laser interventions. As healthcare providers transition tthe new reality, the ophthalmic lasers market will remain on an upwards trajectory through the next years. These factors help keep the ophthalmic lasers market growth steady.

Elevated and increasing population includes geriatric patient base and many of them suffer from ocular disorders such as cataract, macular degeneration, glaucoma and cataract. Earlier those ocular diseases were treated with low efficacy of drugs & thus the demand for such devices as ophthalmic laser used in treatment of ocular diseases has increased. While cataracts can be cured by surgery, the WHO estimates that around 18 million people worldwide are blind in both eyes due tthe condition. Also, there is a large customer pool of patients with refractive error ranging from myopia, high myopia tpresbyopia. These factors drive the ophthalmic lasers market share.

One of the latest developments seen in the ophthalmic lasers market is its application of femtosecond laser in the cataract and refractive surgery. These lasers are less invasive and have less complications as compared tthe previous techniques, and post-surgery recovery time is shorter. FLACS has emerged as a leading technique since incisions and the placement of the lens can be more accurately controlled with the use of femtosecond lasers. Moreover, the combination of AI and imaging technologies with femtosecond lasers is improving the precision more and efficiency of use, which promotes the application in ophthalmology.

Comprehensive Analysis of Ophthalmic lasers Market

The ophthalmic lasers market is responding quite an unprecedented rate of growth because of its market segmentation. This indicators growth in different regions by substituting the major forces of supply and demand which define the shape of local pharmacy benefit management market. Therefore, they are logically divided int4 Segments, by type, by technology, by application and by end-user. Depending on the type, the ophthalmic lasers market share forecast by application can be divided as excimer lasers, femtosecond lasers, Nd Yag laser, diode lasers and others. The excimer lasers segment remained as the largest contributor tthe growth in the ophthalmic lasers industry in 2018. The segment contributed 39.2% market share for that year. By application, the market has been categorized intthe cataract removal treatment application, glaucoma treatment application, refractive errors treatment application, and other applications. By technology, the market segments involve photdisruption, SLT and photocoagulation. Depending on the end user, the global market can be divided intophthalmic laser centers, hospitals, and other.

The North American region was valued at USD 139.3 million in 2018. North America has the most significant market share for the ophthalmic lasers mainly due tthe healthcare system and significant use of advanced technologies such as femtosecond lasers. People in the region bear a number of diseases that affect eyes such as cataract and glaucoma due ttheir old age. Smart purchase power and rather greater insurance methods alsplay the parts. Also, most quality laser manufacturers are located here, improving the local outlook.

IRIDEX Corporation (U.S.), Lumenis (Israel), NIDEK CO., LTD. (Japan), Carl Zeiss Meditec AG (Germany), Ellex Medical Lasers Ltd. (Australia), TOPCON CORPORATION (Japan), NoIR Laser Company, LLC (U.S.) and Lumibird (France) are significant players in the medical device market. They are the key player that ensures the industry's success while still having tkeep pace with their innovation in product and services. They offer a competitive zone that incites the growth of technologies and quality assurance. They operate on a global scale and have a wide range of product lines ensuring that the market players compete on a fair playing field bringing in innovations that result in the market's evolution.

In March 2021, The leading energy-based medical device company for aesthetic and ophthalmic applications, Lumenis Ltd in has entered in tpartnership with the Advent Health Nicholson Center. It alsserves tbuild a center of excellence as a medical training program that will enable physicians tobtain large-scale education in operating amid the pandemic.

Segmentation Table

ATTRIBUTE DETAILS

By Type

Excimer Lasers

Femtosecond Lasers

Nd Yag Lasers

Diode Lasers

Others

By Technology

Photodisruption

Selective Laser Trabeculoplasty

Photocoagulation

By Application

Cataract Treatment

Glaucoma Treatment

Refractive Errors Treatment

Others

By End User

Ophthalmic Laser Centers

Hospitals

Others

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, Mexicand Rest of Latin America)

Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)