According to the latest report by IMARC Group, titled “Ophthalmic Lasers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global ophthalmic lasers market size reached US$ 1,069 Million in 2018. An ophthalmic laser is a piece of medical equipment that allows precise treatment of numerous eye problems with little to no risk of infection. A laser system generally consists of a laser medium, laser pump, laser cavity and cooling system, along with a slit lamp biomicroscope. Lasers have now become an indispensable part of ophthalmology. They are utilized by specialists to treat cells present in the eyes and to reshape the cornea, among other diversified uses. These procedures are usually pain-free and do not require extended hospital stays. Apart from this, they are widely associated with safety, accuracy and cost-efficiency. As a result, they are extensively used to treat numerous eye disorders, including myopia, cataract and macular edema.
Global Ophthalmic Lasers Market Trends:
Rising geriatric population is one of the major factors influencing the growth of the market. With increasing life expectancy, the prevalence of age-related eye disorders is escalating, thus creating a growing demand for ophthalmic lasers on the global level. Moreover, shifting dietary patterns and increasing prevalence of lifestyle diseases have led to an increase in the occurrence of diabetes. Since diabetic patients are prone to developing cataract at a relatively early age, they are widely opting for laser procedures in the early stages to prevent permanent visual impairment. Furthermore, enhanced research and development (R&D) to develop efficient laser technologies are further contributing to the market growth. For instance, the femtosecond laser is widely being adopted in ophthalmic surgeries as it ensures precision with minimal collateral tissue damage, thereby significantly enhancing the success rates of these surgeries. Other factors contributing to the market growth include increasing number of ophthalmic centers and hospitals, along with favorable governmental policies for effective and enhanced vision health management system. On account of the aforementioned factors, the market is projected to reach a value of US$ 1,353 Million by 2024, growing at a CAGR of around 4% during 2019-2024.
- On the basis of the product, the market has been divided into diode lasers, femtosecond lasers, excimer lasers, Nd:YAG lasers, SLT lasers and others.
- Based on the indication, the market has been categorized into glaucoma, cataract removal, refractive error corrections, diabetic retinopathy and others.
- On the basis of the end user, the market has been classified into hospitals, eye clinics and others.
- On the geographical front, the market has been segregated into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market, including Alcon Laboratories Inc. (Novartis AG), Johnson & Johnson Surgical Vision Inc., Bausch + Lomb, Ellex Medical Lasers Limited, IRIDEX Corporation, Lumenis Ltd., Topcon, A.R.C. Laser, Abbott Medical Optics, Calmar Laser, Carl Zeiss Meditec Medical, Meridian Medical Solutions, Nidek Co. Ltd., Optos plc, Quantel Laser, and Ziemer Ophthalmic Systems AG.
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