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Rising Incidence Of Ocular Disorders Fuels Growth In The Ophthalmic Medical Lasers Market: Strengthening the Growth Trajectory of the Ophthalmic Medical Lasers Market
Ophthalmic Medical Lasers
What Is the Expected CAGR for the Ophthalmic Medical Lasers Market Through 2025?
The market for ophthalmic medical lasers has experienced robust growth recently. There is an anticipated increase from $1.26 billion in 2024 to $1.33 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.0%. This growth throughout the historical period can be accounted for by factors such as the aging population, preference for minimally invasive eye procedures, increased disposable income, heightened awareness of ophthalmic medical lasers, and a rise in myopia.
What's the Projected Size of the Global Ophthalmic Medical Lasers Market by 2029?
The market size of ophthalmic medical lasers is anticipated to witness considerable expansion in the coming years, reaching $1.77 billion in 2029 with a compound annual growth rate (CAGR) of 7.4%. This projected growth during the forecast period can be associated with increasing incidences of eye disorders, growing instances of diabetes, regenerative medicine, heightened emphasis on proactive eye care, and governmental initiatives. Key trends for this period encompass breakthroughs in laser technology, improvements in ophthalmic medical lasers, the fusion of gene therapy and lasers, and the integration of optical coherence tomography (OCT).
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Top Growth Drivers in the Ophthalmic Medical Lasers Industry: What's Accelerating the Market?
The escalating occurrence of eye diseases is fuelling the need for the ophthalmic medical lasers market. Ocular disorders impact vision and eye health in patients of all ages, and laser treatment can help reshape the eye's cornea for enhanced focus, leading to better vision. To illustrate, in December 2022, the Centers for Disease Control and Prevention, a government agency in the US, stated that approximately 20.5 million American adults over 40 had at least one eye with a cataract, equating to 17.2% of the population. Projections suggest that roughly 30 million individuals will suffer from cataracts by 2028. The uptick in the prevalence of ocular disorders needing laser treatment aids in the expansion of the ophthalmic medical lasers market.
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What Trends Will Shape the Ophthalmic Medical Lasers Market Through 2029 and Beyond?
Leading firms in the ophthalmic medical lasers market are concentrating their efforts on creating novel products like Xipere to offer dependable services to their clientele. Xipere, a corticosteroid known as triamcinolone acetonide, is suprachoroidally injected to treat macular edema resulting from eye inflammation. For example, in January 2022, Clearside Biomedical Inc., an American biopharmaceutical company specializing in the creation of unique drug delivery systems for treating eye diseases, received its initial FDA approval for addressing macular edema caused by uveitis using Xipere. Xipere includes triamcinolone acetonide, a corticosteroid medication employed to treat macular edema connected with uveitis. Xipere is sterile, devoid of preservatives, and has been designed for suprachoroidal administration using Clearside's proprietary microinjector for the suprachoroidal space (SCS).
What Are the Main Segments in the Ophthalmic Medical Lasers Market?
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
Subsegments:
1) By Diode Lasers: Laser For Retinal Surgery, Laser For Cataract Surgery
2) By Femtosecond Lasers: Laser For Cataract Surgery, Laser For LASIK Surgery
3) By Excimer Lasers: Laser For Refractive Surgeries (LASIK, PRK), Laser For Corneal Surgery
4) By Aromatherapy: Lasers For Photodynamic Therapy, Laser For Tissue Treatment
5) By ND:YAG Lasers: Laser For Posterior Capsulotomy, Laser For Iridotomy
6) By Other Products: Laser For Glaucoma Treatment, Laser For Retinal Photocoagulation
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Which Top Companies are Driving Growth in the Ophthalmic Medical Lasers Market?
Major companies operating in the ophthalmic medical lasers market include Alcon Laboratories Inc., Abbott Medical Optics Inc., Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Topcon Corporation, Ziemer Ophthalmic Systems AG, IRIDEX Corporation, NIDEK Co. Ltd., Lumenis Ltd., Johnson & Johnson Surgical Vision Inc., Lumibird Medical, Quantel Inc., Coherent Inc., Ocular Instruments Inc., Ellex Medical Lasers Limited, LENSAR LLC, LIGHTMED Corporation, Menicon Co. Ltd., Novartis AG, Omeros Corporation, Oxurion NV, Pfizer Inc., Recipharm AB, Regeneron Pharmaceuticals Inc., Roche Holding AG, Rohto Pharmaceutical Co. Ltd., Santen Pharmaceuticals, SCHWIND eye-tech-solutions GmbH & Co. KG, Staar Surgical Company, Teva Pharmaceutical Industries Ltd., ThromboGenics NV, Veeva Systems Inc.
Which Regions Will Dominate the Ophthalmic Medical Lasers Market Through 2029?
North America was the largest region in the ophthalmic medical lasers market in 2024. Asia-Pacific was the second-largest region in the ophthalmic medical lasers market report. The regions covered in the smart watch market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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