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Ophthalmic Lasers Market to boost its value by year 2023 with registering a CAGR of 4.5%

03-28-2019 01:26 PM CET | Health & Medicine

Press release from: Allied Market Research

Ophthalmic lasers market

Ophthalmic lasers market

A laser is a light emitting device that operates on the principle of optical amplification based on the induced emission of electromagnetic radiation. Laser applications in the field of ophthalmology are rapidly increasing for the treatment of eye diseases.

According to a report published by Allied Market Research, the global ophthalmic lasers market garnered $1.11 billion in 2016, and is estimated to reach $1.51 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023.

The laser emits light through a process known as optical amplification, which is performed using stimulated emission of electromagnetic radiation. Lasers are widely used in the ophthalmic field because laser-tissue interactions are associated with medical applications such as ophthalmology. There are a wide range of eye-related diseases such as cataracts, age-related macular edema, glaucoma, and diabetic retinopathy.

Surge in number of eye-related diseases, technological advancements in the laser, and rise in awareness regarding laser applications in ophthalmology facilitate the growth in the market. However, strict safety regulations and increase in rate of failure of surgeries that involves usage of lasers restrain the market growth. On the other hand, untapped potential in emerging economies, such as LAMEA and Asia-Pacific, along with rise in disposable income would offer new opportunities to the manufacturers. The Nd:YAG lasers segment would grow at the highest CAGR of 5.2% from 2017 to 2023. This is due to diverse applications of the lasers for treating different types of various eye diseases.

Segment Review

The photocoagulation market is expected to generate maximum revenue for the global ophthalmic lasers market. This is attributed to use in the treatment of macular edema, proliferative retinopathy, and others, which is increasingly prevalent across geographies.

Snapshot of LAMEA Ophthalmic Lasers Market

Key vendors focus on the emerging markets, namely, Asia-Pacific and LAMEA. Brazil offers lucrative opportunities in LAMEA ophthalmic lasers market, owing to increase in number of ocular diseases in this country and other parts of the region, which is further expected to boost the Brazil ophthalmic lasers market during the forecast period.

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In 2016, North America held the major market share, accounting for nearly two-fifths of the market, owing to the surge in prevalence of eye-related diseases and rise in adoption of technologically advanced products. Europe contributes to the second position in the market.

Key Findings of the report:

• The photo disruption lasers segment is expected to register a CAGR of 3.0% throughout the forecast period.
• North America contributed the highest market share in 2016 based on regions, contributing for nearly two-fifths share of the total market share. Moreover, the segment is expected to dominate in terms of revenue by 2023.
• The eye clinics segment contributed for a major share in 2016, with more than one-fourth of the total market.
• Based on application, The glaucoma surgery segment contributed to the highest CAGR of 6.6% in the market in 2016.

The major companies analyzed in the report are Carl Ziess Meditec Ag, Topcon Corporation, Novartis AG, Quantel Inc., Ellex Medical Corporation, Nidek Co., LTD., Iridex Corporation, Abbott Laboratories, Lumenis, and Ziemer Ophthalmic Systems. They have adopted various strategies including new product launches, collaborations, expansions, partnerships, mergers & acquisitions, and others to gain stronghold in the industry.

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About us

Allied Market Research, a market research and advisory company of Allied Analytics LLP,
provides business insights and market research reports to large as well as small &
medium enterprises. The company assists its clients to strategize business policies and
achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection
to investment advice. The analysts at Allied Market Research dig out factors that help
clients to understand the significance and impact of market dynamics. The company
amplies client’s insight on the factors, such as strategies, future estimations, growth
or fall forecasting, opportunity analysis, and consumer surveys among others. As
follows, the company offers consistent business intelligent support to aid the clients
to turn into prominent business firm.

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