Market Snapshot
| Study Period: | 2018 - 2026 |
| Base Year: | 2021 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | North America |
| CAGR: | 8.4 % |
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Market Overview
Factors that are responsible for the growth of the ophthalmic lasers market include a high prevalence of ophthalmic disorders, increasing initiatives to control visual impairment, and increasing regulatory approvals for ophthalmic lasers.
- There has been and continues to be a considerable amount of research activity in the ophthalmic lasers arena. Hence, several number of eye lasers are receiving regulatory approvals, which help in driving the ophthalmic lasers market.
- In September 2019, SCHWIND eye-tech-solutions launched the ATOS femtosecond laser, with capabilities for both femtoLASIK and innovative lenticule extraction with the SmartSight technology, in Europe. Thus, the increase in regulatory approvals helps in driving the growth of the ophthalmic lasers market.
Scope of the Report
The ophthalmic laser is a medical device used to target ophthalmic cells, in order to operate the ophthalmic disorders. Ophthalmic lasers are used for treating a wide range of eye problems. It is used in a variety of ophthalmic disorder procedures that include cataract surgery, laser trabeculoplasty, retinal photocoagulation, and laser iridotomy. Significant accuracy, low-cost, safe procedure, and convenient ophthalmic tools have increased the demand for ophthalmic lasers in the market.
| By Product | |
| Diode Lasers | |
| Femtosecond Lasers | |
| Excimer Lasers | |
| Nd:YAG Lasers | |
| Other Products |
| By Application | |
| Glaucoma | |
| Cataract Removal | |
| Refractive Error Corrections | |
| Diabetic Retinopathy | |
| Other Applications |
| By End User | |
| Hospitals | |
| Eye Clinics | |
| Other End Users |
| Geography | ||||||||
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Key Market Trends
Refractive Error Corrections are Expected to Hold the Highest Revenue in the Application Segment
- In the application segment of the ophthalmic lasers market, refractive error corrections are projected to have the largest revenue during the forecast period. This is majorly due to factors, such as the escalating number of refractive error cases among both children and adults. Furthermore, an increase in the application of femtosecond lasers in refractive error surgeries is helping the growth of this segment.
- Refractive error is a type of vision problem that makes it hard to see clearly. Nearsightedness (myopia), farsightedness (hyperopia), astigmatism, and presbyopia are the four different types of refractive errors.
- According to the NIH National Eye Institute, more than 11 million Americans have common vision problems that can be corrected with the use of prescriptive eyewear, such as glasses or contact lenses. More than 150 million Americans use corrective eyewear, spending more than USD 15 billion on eyewear each year.
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North America Dominates the Market and is Expected to do Same during the Forecast Period
Currently, North America dominates the market for ophthalmic lasers and is expected to continue its stronghold for a few more years. In the North American region, the United States holds the largest market share, owing to the increasing incidence rates of ophthalmic problems and increasing healthcare expenditure in the country, as well as the development of sophisticated healthcare infrastructure in the country.
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Competitive Landscape
The ophthalmic lasers market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. With the rising incidence of ophthalmic cases and increasing geriatric population, few other smaller players are expected to enter the market. Some of the major players of the market are Alcon Laboratories Inc. (Novartis AG), Johnson & Johnson Surgical Vision Inc., Bausch & Lomb Incorporated (Valeant Pharmaceuticals International Inc.), Ellex Medical Lasers Limited, and IRIDEX Corporation, among others.
Recent Developments
In September 2021, the company ZEISS introduces a VISUMAX 800 which is a next generation of ZEISS femtosecond lasers. The ZEISS VISUMAX 800, femtosecond lasers, will create a comfortable patient and surgeon experience by reducing laser time and potential transcription errors.
In June 2021, the company Ziemer had announced the launch of its newest femtosecond laser, the FEMTO Z8 NEO. The FEMTO Z8 NEO provides advanced hardware as well as new and improved software applications.
Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 High Prevalence of Ophthalmic Disorders
4.2.2 Increasing Regulatory Approvals for Ophthalmic Lasers
4.2.3 Increasing Initiatives to Control Visual Impairments
4.3 Market Restraints
4.3.1 Huge Cost Associated with Ophthalmic Laser Therapies
4.3.2 Reduced Availability of Skilled Practitioners
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Diode Lasers
5.1.2 Femtosecond Lasers
5.1.3 Excimer Lasers
5.1.4 Nd:YAG Lasers
5.1.5 Other Products
5.2 By Application
5.2.1 Glaucoma
5.2.2 Cataract Removal
5.2.3 Refractive Error Corrections
5.2.4 Diabetic Retinopathy
5.2.5 Other Applications
5.3 By End User
5.3.1 Hospitals
5.3.2 Eye Clinics
5.3.3 Other End Users
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle-East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Alcon Laboratories Inc. (Novartis AG)
6.1.2 Johnson & Johnson Surgical Vision Inc.
6.1.3 Bausch & Lomb Incorporated (Valeant Pharmaceuticals International Inc.)
6.1.4 Ellex Medical Lasers Limited
6.1.5 IRIDEX Corporation
6.1.6 LIGHTMED
6.1.7 Quantel Medical
6.1.8 SCHWIND eye-tech-solutions
6.1.9 Lumenis
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Ophthalmic Lasers Market market is studied from 2018 - 2026.
What is the growth rate of Ophthalmic Lasers Market?
The Ophthalmic Lasers Market is growing at a CAGR of 8.4% over the next 5 years.
Which region has highest growth rate in Ophthalmic Lasers Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Ophthalmic Lasers Market?
North America holds highest share in 2021.
Who are the key players in Ophthalmic Lasers Market?
Alcon Laboratories Inc. (Novartis AG), Johnson & Johnson Surgical Vision Inc., Bausch & Lomb Incorporated (Valeant Pharmaceuticals International Inc.), Ellex Medical Lasers Limited, IRIDEX Corporation are the major companies operating in Ophthalmic Lasers Market.
