Press release
Ophthalmic Lasers Market to Witness Robust Expansion by 2025
Technology advancements such as in optical coherence tomography, increases the accuracy of ophthalmic laser surgeries. In addition, this optical coherence tomography helps in analyzing the progression of retinal diseases through quantitative data to assess retinal abnormalities. Increasing prevalence of chronic disorders that includes ophthalmic disorders, growing initiatives for treatment of vision impairment, rising geriatric population with ophthalmic problems and increasing regulatory approvals for new products are some factors that are expected to boost the growth of the global ophthalmic lasers market. However, the high cost of ophthalmic laser therapies hampers the adoption among the end users and lack of skilled practitioners which are expected to restrain the growth of the global ophthalmic lasers market.
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The ophthalmic lasers market has been segmented by product type, by application, by end user and by geography. In terms of products, the ophthalmic lasers has been categorized into photo-disruption lasers, photo-coagulation lasers, and selective laser trabeculoplasty. The selective laser trabeculoplasty product segment is expected dominate the global ophthalmic lasers market in terms of value during the forecast period. Application segments include glaucoma surgery, diabetic retinopathy, cataract surgery, and other ophthalmic diseases. Cataract surgery and diabetic retinopathy application segment are expected to dominate the market in terms of value through 2024. End user for ophthalmic laser has been categorized into hospitals, ophthalmic clinics and ambulatory surgical centres. Hospital end user segment is the major market contributor for the global ophthalmic laser market owing to increase in the cataract surgery and glaucoma surgery.
Geographically, North America accounts for a significant share in the market in terms of revenue for ophthalmic lasers owing to extensive research and development activities and early adoption of new technologies in the region. Presence of developed healthcare organization and promising government initiatives in implementing ophthalmic lasers in ophthalmic disease management and presence of reimbursement would further propel the ophthalmic lasers market growth during 2016-2024. Europe is estimated to be the second largest market in the global ophthalmic lasers due to increased ophthalmic diseases surgeries and implementation of high healthcare concerns in the region. Moreover, rising geriatric population with ophthalmic disorders enhance the market in the region.
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Asia Pacific is expected to increase at rapid pace in upcoming years owing to the improving healthcare infrastructure and the increasing patient awareness levels for ophthalmic laser treatment options. However, increasing number of hospitals and ophthalmic clinics in emerging economies such as China, and India are providing immense growth opportunities for the ophthalmic lasers market. Latin American countries such as Mexico and Brazil are expected to have considerable potential for driving the market growth due to increasing healthcare expenditure and evolving medical structure.
The major players operating in this market include Alcon Laboratories, Inc., Novartis AG, Ellex Medical Lasers Ltd, Abbott Medical Optics, Inc, Carl Zeiss Meditec AG, Lumenis Ltd., Topcon Corporation, Nidek Co., Limited, Ziemer Ophthalmic Systems AG among other significant players worldwide.
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