Ophthalmic Lasers Market Forecasts to 2028 – Global Analysis By Product (Femtosecond Lasers, Diode Lasers, Excimer Lasers and Other Products), Application (Cataract Removal, Glaucoma, Diabetic Retinopathy, Refractive Error Corrections and Other Applicatio

Ophthalmic Lasers Market Forecasts to 2028 – Global Analysis By Product (Femtosecond Lasers, Diode Lasers, Excimer Lasers and Other Products), Application (Cataract Removal, Glaucoma, Diabetic Retinopathy, Refractive Error Corrections and Other Applications), End User and By Geography

According to Stratistics MRC, the Global Ophthalmic Lasers Market is accounted for $1375.07 million in 2022 and is expected to reach $2029.14 million by 2028 growing at a CAGR of 6.7% during the forecast period. Ophthalmic lasers are tools that enable precision therapy for a variety of eye issues with little danger of infection. Numerous laser operations can be done without anaesthesia and with little to no pain. Ophthalmic lasers are a particularly helpful instrument in the field of ophthalmology due to its combination of safety, accuracy, and relative affordability. The laser console, the foot pedal, and the laser delivery system are the three main elements of a laser system. The laser energy can be delivered to the patient's eye using a variety of delivery devices that are linked to the console by a fibre optic cable.

According to the study, women were 24% more likely than men to develop myopia as children, but they were 12% less likely to do so as adults. It's unclear why this is the case, but it could be because men and women endure different hormonal shifts or different lifestyles.

Market Dynamics:

Driver:

Prevalence of Ophthalmic Disorders

The rise in prevalence of ophthalmic disorders such as refractive errors, age-related macular degeneration, cataract, diabetic retinopathy and glaucoma, among others across the globe, is one of the major factors driving the growth of ophthalmic lasers market. Moreover, inclination towards minimally invasive procedures and innovations in ophthalmic will propel the demand in ophthalmic laser machines market. Further, growing need for maintaining proper eye health will drive growth in the global ophthalmic lasers market.

Restraint:

Availability of Alternative Therapies

The availability of alternative therapies for vision correction is expected to hinder the ophthalmic medical lasers market. The alternatives for lasers in ophthalmology include using a lens for correcting the vision using techniques such as Phakic Intraocular Lens Implants, and Refractive Lens Exchange Surgery. According to the statistics by the American Society of Cataract and Refractive Surgery (ASCRS), patients who choose to have a standard IOL procedure, which is considered safe for cataract surgery, experience fully restored vision. Therefore, the availability of alternative therapies to correct vision is expected to hamper the ophthalmic medical lasers market.

Opportunity:

Efficiency of ophthalmic lasers in the treatment of ocular diseases

Age-related glaucoma, cataract, myopia, and other eye illnesses affect a considerable patient base, particularly the older population. Because medications are only moderately effective in treating certain eye conditions, there is a growing market for medical devices, such as ophthalmic lasers, to treat eye conditions. The world health organization estimates that 18 million people worldwide are blind on both sides as a result of cataract. Additionally, a significant patient population experiences refractive problems like myopia, extreme myopia, and presbyopia which are providing wide range of opportunities to the market.

Threat:

High Cost

Numerous unfortunate circumstances caused by the poor supervision of medical professionals have occurred, undermining user confidence. For instance, accidents brought on by looking steadily into the light might irreversibly harm the eye and cause partial or complete blindness. Additionally, when a laser beam is projected into somebody's unprotected eyes, damage can result. Likewise, there is a list of persons who are frequently discouraged from receiving such therapies taken as a whole they represent a sizable portion of potential clients hindering the market growth.

Covid-19 Impact

The COVID-19 outbreak had a contradictory effect on the market for ophthalmic lasers. Significant healthcare treatments were postponed during the pandemic to decrease the likelihood of corona virus transmission. Major health treatments were postponed during the pandemic to reduce the chance of corona virus transmission. However, due to the easing of regulations after COVID, an increase in ophthalmic treatments is anticipated. Such hindrances are affecting the growth of the ophthalmic lasers market.

The femtosecond lasers segment is expected to be the largest during the forecast period

The femtosecond lasers segment is estimated to have a lucrative growth; due to their infrared laser with incredibly little pulse duration is the femtosecond laser. The femtosecond laser can deliver laser energy with little collateral harm to the surrounding tissue because of its brief pulse duration. The femtosecond laser is also exceptional in that it may be directed anywhere inside or below the cornea and can partially pass through optically cloudy media, like an edematous cornea which are boosting the market growth.

The cataract removal segment is expected to have the highest CAGR during the forecast period

The cataract removal segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its ease on making incision and lens opening are made fragmented using a laser. This procedure produces a more dependable, reproducible, and exact incision than can be achieved by hand. Even a skilled surgeon cannot create a perfectly round aperture with the same level of precision as a laser. Doctors can do that because of the laser's accuracy and reliability in making incisions which leads to a better and more predictable vision outcome. Therefore, all the above factors are driving the market growth.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the development of the R&D sector, an increase in healthcare reforms, and scientific developments in the field of ophthalmology. Asia-Pacific ophthalmic lasers market, primarily as a result of improvements in the healthcare infrastructure, an increase in the number of hospitals with cutting-edge equipment. Furthermore, technological advancements in ophthalmic laser systems and expansion of ophthalmic diagnostic equipment market will further aid ophthalmic laser manufacturers to increase the growth of the market

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to a substantial share of the worldwide market for ophthalmic lasers, and it is anticipated that it will continue to hold this dominance during the forecast period. This is attributed to a rise in the number of ophthalmic disabilities, an increase in the demand for patient safety devices, the accessibility of cutting-edge healthcare facilities with skilled healthcare workers, an increase in the number of Research and development activities along with a notable presence of crucial players, and an increase in government investment in the healthcare system thereby propelling the market growth.

Key players in the market

Some of the key players profiled in the Ophthalmic Lasers Market include Novartis AG , Bausch Health Companies Inc, Topcon Corporation, Johnson & Johnson Surgical Vision Inc, IRIDEX Corporation, Ziemer Opthalmic Systems AG, LIGHTMED, SCHWIND eye-tech-solutions, Lumenis, Lumibird Group, Carl Zeiss Meditec AG, NIDEK Co., Ltd, Abbott Medical Optics Inc and Alcon Inc.

Key Developments:

In Dec 2022, Novartis announced results from the RIGHT Choice Phase II trial evaluating Kisqali® (ribociclib) plus endocrine therapy (ET) against combination chemotherapy (CT) in the first-line setting for pre- and perimenopausal patients with aggressive forms of hormone receptor-positive, human epidermal growth factor receptor-2 negative (HR+/HER2?) metastatic breast cancer (MBC), including patients with visceral crisis.

In Dec 2022, Novartis announced the pivotal Phase III PSMAfore study with PluvictoTM (INN: lutetium (177Lu) vipivotide tetraxetan), a prostate-specific membrane antigen (PSMA)-targeted radioligand therapy, met its primary endpoint.

In Dec 2022, Johnson & Johnson Vision Announces Availability of ACUVUE® Abiliti™ 1-Day Soft Therapeutic Lenses for Myopia Management in Singapore, the daily wear, single-use, disposable lens has the potential to slow the progression of myopia in children who are 7 to 12 years old at the start of treatment.

In Nov 2022, Bausch Health Announces the Unrestricting of Bausch + Lomb Under Bausch Health Debt Covenants. In connection therewith, all of the subsidiaries of 1261229 B.C. Ltd., including Bausch + Lomb and its subsidiaries, are also now unrestricted subsidiaries of the Company and, as a result, are no longer subject to the covenants under the Bausch Health debt documents.

Products Covered:
• Femtosecond Lasers
• Diode Lasers
• Excimer Lasers
• Other Products

Applications Covered:
• Cataract Removal
• Glaucoma
• Diabetic Retinopathy
• Refractive Error Corrections
• Other Applications

End Users Covered:
• Eye Clinics
• Hospitals
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements