Ophthalmic Medical Lasers Global Market Report 2024 - By Report, Size, Growth, Key Factors, Analysis, Forecast To 2033

The ophthalmic medical lasers market has exhibited robust growth, surging from $1.2 billion in 2023 to a projected $1.29 billion in 2024, boasting a compound annual growth rate (CAGR) of 7.6%. Anticipated to continue on this trajectory, the market is forecasted to reach $1.69 billion by 2028, with a CAGR of 7.0%. This growth is propelled by factors such as the rising incidence of ocular disorders and the expanding elderly population.

Rising Incidence of Ocular Disorders Driving Demand
The increasing prevalence of ocular disorders is a key driver fueling the demand for ophthalmic medical lasers. These disorders, affecting vision and eye health across all age groups, find effective treatment through laser-based interventions. For instance, the Centers for Disease Control and Prevention reports that over 20.5 million Americans aged 40 and above have cataracts, with an expected increase to 30 million by 2028. This surge in ocular diseases necessitating laser treatment contributes significantly to the expansion of the ophthalmic medical lasers market.

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Elderly Population Growth as a Catalyst
The growth of the elderly population, aged 65 and older, is set to propel the ophthalmic medical lasers market. Ophthalmic lasers play a crucial role in treating various conditions prevalent in the elderly, including cataract surgery, glaucoma, age-related macular degeneration (AMD), diabetic retinopathy, and refractive lens exchange. The World Health Organization predicts that globally, 1 in 6 people will be 60 or older by 2030, reaching 2.1 billion by 2050. This demographic shift, echoed in regions like the UK, with a projected 24% senior population by 2043, underscores the impact of an aging population on the growth of the ophthalmic medical lasers market.

Key Market Players and Innovative Products
Major companies contributing to the ophthalmic medical lasers market include Alcon Laboratories Inc., Abbott Medical Optics Inc., Carl Zeiss Meditec AG, and more. These industry leaders are focusing on the development of innovative products to enhance service offerings. Notable examples include Xipere, a corticosteroid for treating macular edema associated with uveitis, and Lumibird Medical's Nd:YAG Laser Capsulo, a next-generation laser platform for effective and precise capsulotomy and iridotomy treatments.

Advancements in Ocular Disease Treatment
Companies are investing in cutting-edge technologies to manufacture devices for ocular disease treatment. Lumibird Medical's Nd:YAG Laser Capsulo, launched in April 2022, is a prime example. This fully integrated laser platform offers flexibility, enabling precise capsulotomy and iridotomy treatments. Its high-quality optics provide a clear view into the anterior and posterior segments of the eye, marking a significant advancement in ocular disease treatment.

Global Dynamics and Market Segmentation
As of 2023, North America dominates the ophthalmic medical lasers market, with Asia-Pacific emerging as the second-largest region.

The ophthalmic medical lasers market covered in this report is segmented -
1) By Product: Diode Lasers, Femtosecond Lasers, Excimer Lasers Aromatherapy, ND:Yag Lasers, Other Products
2) By Application: Refractive Error Correction, Cataract Removal, Diabetic Retinopathy, Glaucoma, Age-Related Macular Degeneration, Other Applications
3) By End User: Hospitals, Specialty Clinics and Ambulatory Surgery Centres

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Ophthalmic Medical Lasers Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Ophthalmic Medical Lasers Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ophthalmic medical lasers market size, ophthalmic medical lasers market drivers and trends, ophthalmic medical lasers market major players, competitors' revenues, ophthalmic medical lasers market positioning, and ophthalmic medical lasers market growth across geographies. The ophthalmic medical lasers market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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