Ophthalmic Lasers Market Size, Share, Growth, Analysis, Trend, and Forecast Research Report by 2028
Increased incidence of ocular disorders, rising occurrence of chronic disorders, continuous authorizations and approvals
NEW YORK, NEW YORK, UNITED STATES, September 27, 2021 /EINPresswire.com/ — The global ophthalmic lasers market was valued at USD 1,168.7 Million by the year 2020 and is expected to reach USD 1,699.0 Million in the year 2028, at a CAGR of 4.9%. Lasers have become a factor of a necessity for ophthalmologists. These provide proper treatment of various eye disorders with fewer chances of infection. The lasers depend on the radioactive material; it cures diabetic retinopathy as the blue, green wavelengths are formed, and the cells absorb the wavelengths below the retina and the hemoglobin itself. It avoids the leakage caused in the blood vessels. Retinal photocoagulation is the first clinical laser application. According to the recent survey conducted, around 285 million people are visually blind. 43% of the population have refractive errors, and 51% (including the 50 above population) suffer from cataract. Latest therapies in the market involves the scatter laser treatment, used to cure the slow progression of diabetic retinopathy and also in patients suffering from the successive loss of vision with non-high risk Proliferative Diabetic Retinopathy and Non-proliferative Diabetic Retinopathy.
The drivers responsible for the growth of the ophthalmic laser market is the increased population incidence of eye disorders, the rise in obese and geriatric population, maximum capabilities to bring visual impairment under control, upcoming technological innovations and legal approvals for ophthalmic lasers.
The femtosecond lasers have brought improvements in the ophthalmic lasers market. The LASIK (laser in-situ keratomileusis) surgery paved the way for effective treatment of cataract and refractive eye surgery. Certain viable restraining factors includes the steep prices in equipment facilities and remedies, and contrary remuneration in laser eye surgeries will hinder the market growth in the coming forecast period.
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Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.
Surging demands and transition to patient-centric care delivery across geographies will change pharma and healthcare market trends through 2028.
The report focuses on current and emerging trends in the healthcare industry such as incorporation of IoT and Machine Learning to enhance efficiency of medical products. Top companies in the market are focusing on R&D activities to expand their product offerings and cater to unmet medical needs.
This report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.
Further key findings from the report suggest
North America had obtained a market share of 34.5% and a market revenue of USD 361.2 in 2020. Increased incidence of chronic diseases, high occurrence of eye disorders, and continuous registration and approvals.
According to the forecast period, the femtosecond lasers is planning to reach USD 691.6 million by 2028 due to the widespread presence of refractive errors and cataract, increasing the administered use of femtosecond lasers and technological innovations in the lasers itself.
The hospital segment is going to project the largest share of the market due to new forefront technology in machines and devices and progressive growth of hospitals in upcoming segments.
Asia Pacific is bound to show positive growth with a CAGR of 6.0% in 2028 due to the sudden increase in optic diseases, advancements in projects related to treatment.
Johnson and Johnson had declared the completion of its investment with Abbott Medical Optics, an Abbott subsidiary, in 27th February 2017. The product portfolio consists of eye products that belong to cataract surgery, laser refractive surgery, and consumer eye health. These products merged with ACUVUE Brand Contact Lenses, and will now work under Johnson and Johnson Vision. Ellex Medical Lasers, a market leader in medical equipment, stated that it would continue its consensus with the U.S. based STAAR Surgical Company by selling and distributing its range of products, being refractive and cataract lens implant in Australia.
A formal agreement has been formed between Lumibird, a market player based in Europe and Ellex Medical Lasers an Australian company, to obtain Ellex’s laser and ultrasound market thereby making it applicable for treatment of optical diseases.
Ziemer Ophthalmic Lasers, based in Switzerland, developed protocols to integrate lenticular extraction capabilities for the initiation of the LDV Z8 femtosecond laser system.
Technology consulting firm, IDTechEx, gave a demonstration on the recent advances in laser technology, is applied in laser material processing and industrial manufacturing.
The ReLEx SMILE surgery innovated by Carl Zeiss Meditech is a keyhole laser surgery, which gives minimum injury than the standard methods followed, and it allows rectification of maximum myopic prescriptions.
Accuracy with artificial intelligence is going to bring improvement in the market and will display accurate reference for determining a particular eye disorder and its way of improvement.
The gene mutant RPE65 injected into the retina, provides instructions to develop a protein to restore normal eyesight.
The Ophthalmic lasers market includes major players such as Abbott Medical Optics, Inc., Johnson and Johnson (USA), Alcon Laboratories (Switzerland), Bausch and Lomb (United States), Ellex Medical Lasers Limited (Australia), Lumenis Ltd., Nidek Company (Japan) and IRIDEX Corporation (U.S.), Carl Zeiss Meditec, Ziemer.
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For the purpose of this report, Reports and Data has segmented the ophthalmic lasers market on the basis of products, application, end use and region wise segmentation.
Product Outlook (Revenue in Million USD; 2018–2028)
Nd: YAG lasers
Application Outlook (Revenue in Million USD; 2018–2028)
Age related macular degeneration treatment
Refractive eye surgery
Diabetic Retinopathy Treatment
End Use Outlook (Revenue in Million USD; 2018–2028)
Ambulatory surgery centers
Regional Analysis covers:
Middle East & Africa
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