Ophthalmic Excimer Laser Systems Market Set to Garner Staggering Revenues by 2025

Light amplification by stimulated emission radiation is abbreviated as LASER. Laser absorbs energy and emits another form of light energy which is used in semiconductors, laser printers etc. Lasers are monochromatic lights that can be focused on a small spot. Different types of laser are used in ophthalmology such as argon, excimer, CO2, YAG, etc. The term Excimer comprises of ‘excited and dimer’ and was coined by a Russian. Optical amplification of excimer occurs in dimer stage, and hence they are called excimer. These lasers are mostly operated in UV light spectrum. Excimers are used in ophthalmology in refractive surgery, photoablation of cornea, etc.

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The global ophthalmic excimer laser system market is expected to expand at a robust CAGR during the forecast period. Rise in prevalence of ophthalmological diseases such as glaucoma, retinal vascular disease, myopia, etc. is an important driver of the global ophthalmic excimer laser system market from 2017 to 2025. According to the American Academy of Ophthalmology, around 2.7 million United States above the 40 years of age are affected with glaucoma. Surge in prevalence of chronic diseases such as diabetes mellitus and hypertension, which can lead to retinopathy, is another key factor driving the growth of the global ophthalmic excimer laser system market during the forecast period.

Furthermore, increase in the number of refractive laser surgeries, technological advancement, rise in health care expenditure, awareness regarding eye care, growth in geriatric population, surge in cases of myopia, etc. are the other factors boosting the growth of the global ophthalmic excimer laser systems market during the forecast period. However, lack of awareness regarding ophthalmic disorders in developing countries is a major restraint of the global ophthalmic excimer laser system market during the forecast period.

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The global ophthalmic excimer laser system market can be segmented into type of noble gas, application, end-user, and region. On the basis of type of noble gas, the global excimer laser system market can be divided into argon, xenon, krypton, and others. Based on application, the global ophthalmic market can be classified into refractive surgery, cataract surgery, trabeculoplasty, and others. The refractive surgery segment is expected to account for a major share of the global ophthalmic excimer laser system market during the forecast period due to rise in the number of surgeries for myopia. The global ophthalmic excimer laser market, on the basis of end-user, can be categorized into private eye clinics, eye hospitals, and outpatient retinal clinics.

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In terms of region, the global ophthalmic excimer laser market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to dominate the ophthalmic excimer laser market during the forecast period. Increase in prevalence of myopia and rise in demand for refractive surgeries are the key drivers of the ophthalmic excimer laser system market in the region.

Furthermore, advancement in technology, rise in awareness regarding diagnosis of eye diseases, high health care expenditure, etc. are the other factors contributing to the growth of the ophthalmic excimer laser systems market in North America. Europe is anticipated to constitute a significant share of the global ophthalmic excimer laser system market followed by North America due to growth in geriatric population. The ophthalmic excimer laser system market in Asia Pacific is anticipated to register a rapid growth rate during the forecast period. The region is highly lucrative for the ophthalmic excimer laser system market due to growth in aging population, adoption of health care solutions, rise in awareness regarding health care, prevalence of lifestyle related diseases, etc. Furthermore, prevalence in childhood blindness and high incidence of cataract and glaucoma are driving the growth of the ophthalmic excimer laser system market in Asia Pacific.

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In order to maintain a significant position in the market, key players in the ophthalmic excimer laser system market are adopting strategies such as mergers and acquisitions, cost effectiveness, collaborative partnerships, etc. Prominent players operating in the global ophthalmic excimer laser system market include Novartis AG, Alma Lasers, Carl Zeiss Meditec AG, and Johnson & Johnson Vision Care, Inc.

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