Excimer & Femtosecond Ophthalmic Lasers Market Surpass US$ 1,118.64 Million by 2028 | Ivis Technologies; Lensar, Excelsius Medical

The laser technology is used in many medical disciplines and specialties, and it plays an important role in promoting ophthalmology advancement, especially corneal refractive surgery. Ophthalmology laser is of two types such as excimer laser, photorefractive keratectomy (PRK), laser epithelial keratomileusis (LASEK), epipolis laser in situ keratomileusis (Epi-LASIK), and transepithelial photorefractive keratectomy (Trans-PRK) and presbyopia surgery) and femtosecond laser such as femtosecond laser in situ keratomileusis (FS-LASIK), insertion of intracorneal ring segments, small-incision lenticule extraction (SMILE), and femtosecond lenticule extraction (Flex).

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Bausch Health Companies Inc; Alcon Inc; ZEISS International; Nidek Co Ltd; Ivis Technologies; Excelsius Medical Gmbh; Ziemer Ophthalmic Systems; Schwind Eye-Tech-Solutions; Lensar, Inc; and NKT Photonics A/S are among the leading companies operating in the excimer & femtosecond ophthalmic lasers market.

The excimer & femtosecond ophthalmic lasers market is expected to reach US$ 1,118.64 million by 2028 from US$ 795.68 million in 2021; it is estimated to grow at a CAGR of 5.0% during 2021 to 2028.

Based on product type, the excimer & femtosecond ophthalmic lasers market is segmented into excimer laser and femtosecond laser. In 2021, the femtosecond laser segment would hold a larger share of the market. This segment is further expected to register a higher CAGR in the market during 2021–2028. In June 2019, LENSAR Inc., a developer of next-generation femtosecond laser technology for refractive surgery, received 510(k) clearance from the US Food and Drug Administration for the LENSAR Laser System with Streamline IV. The approval expands of the platform’s capabilities to include the creation of micro-radial incisions that allow surgeons to treat additional corneal conditions post cataract surgery.

The excimer & femtosecond ophthalmic lasers market, by application, is segmented into refractive surgery, cataract surgery, capsulotomy, trabeculoplasty, and diagnostics. Based on end user, the market is segmented into hospitals, ophthalmic clinics, and ambulatory surgical centers.

Rise in geriatric population in countries such as the US, the UK, Canada, Japan, China, India, and South Korea is driven by the modernization of healthcare facilities and improvements in healthcare services, which boosts the life expectancy in these countries. According to the data by the WHO in February 2018, the geriatric population is estimated to rise from 12% in 2015 to 22% by 2050. According to the US Census Bureau, the number of people in the US with age 65 and above is anticipated to grow from 46 million in 2016 to more than 98 million by 2060, while their population share would grow from ~15% to ~24% during this period.

According to the American Institute of Ophthalmology, ~24.4 million people of age below 40 undergo cataract surgery, and ~5% of all Americans undergo cataract surgery by the age of 75. Furthermore, glaucoma cases are on the rise, and the condition affects over 2.7 million Americans of age 40 and above. New eye diseases, such as age-related macular degeneration, which affects over 2.1 million Americans of age 50 and above, can cause serious vision loss. Thus there is a significantly high adoption of new technologies, such as femtosecond lasers, in cataract surgery, which involves a large upfront investment but promises improvements in patient outcomes. Thus, the rise in geriatric population fuels the growth of the excimer & femtosecond ophthalmic lasers market.

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