The global ophthalmic lasers market was valued at $1,207.81 million in 2020, and is projected to reach $1,909.71 million by 2030, registering a CAGR of 4.7% from 2021 to 2030.
A laser is a device that emits light and works on the principle of optical amplification based on stimulated emission of electromagnetic radiation. At present, lasers are highly adopted in the area of medicine for treatment of various diseases. Moreover, these are adopted rapidly in ophthalmology procedures due to their positive results during an eye surgery.
The increase in number of eye-related diseases, such as glaucoma, cataract, refractive errors, and diabetic retinopathy drive the growth of the market. Moreover, the advancements in laser technology and increase in awareness of laser applications in the area of ophthalmology also contribute toward the growth of the market. However, stringent safety regulations and high rate of failure are expected to hinder the market growth. Conversely, the large unmet need for new treatment options of ocular diseases with aim to reduce the economic cost burden is expected to offer lucrative opportunities for market expansion during the forecast period.
The ophthalmic lasers market is segmented on the basis of type, product, application, end user and region. Based on type, the market is segmented into photodisruption lasers, selective laser trabeculoplasty (SLT), and photocoagulation lasers. Based on product, the market is segmented into femtosecond lasers, excimer lasers, Nd:YAG lasers, diode lasers, and others. Based on application, the market is segmented into refractive error, cataract surgery, glaucoma surgery, and others. On the basis of end user, it is categorized into hospitals, ambulatory service centers, and clinics. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
A laser is a device that emits light and works on the principle of optical amplification based on stimulated emission of electromagnetic radiation. At present, lasers are highly adopted in the area of medicine for treatment of various diseases. Moreover, these are adopted rapidly in ophthalmology procedures due to their positive results during an eye surgery.
The increase in number of eye-related diseases, such as glaucoma, cataract, refractive errors, and diabetic retinopathy drive the growth of the market. Moreover, the advancements in laser technology and increase in awareness of laser applications in the area of ophthalmology also contribute toward the growth of the market. However, stringent safety regulations and high rate of failure are expected to hinder the market growth. Conversely, the large unmet need for new treatment options of ocular diseases with aim to reduce the economic cost burden is expected to offer lucrative opportunities for market expansion during the forecast period.
The ophthalmic lasers market is segmented on the basis of type, product, application, end user and region. Based on type, the market is segmented into photodisruption lasers, selective laser trabeculoplasty (SLT), and photocoagulation lasers. Based on product, the market is segmented into femtosecond lasers, excimer lasers, Nd:YAG lasers, diode lasers, and others. Based on application, the market is segmented into refractive error, cataract surgery, glaucoma surgery, and others. On the basis of end user, it is categorized into hospitals, ambulatory service centers, and clinics. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2030, which assists to identify the prevailing market opportunities
- An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans
- A comprehensive analysis of the factors that drive and restrain the growth of the ophthalmic lasers market is provided
- An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves
- Key market players and their strategies have been analyzed to understand the competitive outlook of the market
KEY MARKET SEGMENTS
By Type
- Photodisruption Lasers
- Selective Laser Trabeculoplasty (SLT
- Photocoagulation Lasers
By PRODUCT
- Femtosecond Lasers
- Excimer Lasers
- Nd:YAG Lasers
- Diode Lasers
- Others
By Application
- Refractive Error
- Cataract Surgery
- Glaucoma Surgery
- Others
By End User
- Hospitals
- Ambulatory Service Centers
- Eye Clinics
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- Carl-Zeiss-Stiftung
- Iridex Corporation
- JOHNSON & JOHNSON
- LightMed Corporation
- Lumenis Be Ltd
- Lumibird Group
- NIDEK CO, LTD
- Novartis International AG
- Topcon Corporation
- Ziemer Ophthalmic Systems AG
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Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Ophthalmic Lasers Market, by Type
Chapter 5: Ophthalmic Lasers Market, by Product
Chapter 6: Ophthalmic Lasers Market, by Application
Chapter 7: Ophthalmic Lasers Market, by End-user
Chapter 8: Ophthalmic Lasers Market, by Region
Chapter 9: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Ophthalmic Lasers Market by Product, Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030, the global ophthalmic lasers market size was valued at $1,207.81 million in 2020, and is projected to reach $1,909.71 million by 2030, registering a CAGR of 47% from 2021 to 2030.A laser is a device that emits light through a process of optical amplification based on the stimulated emission of electromagnetic radiation. This device is used increasingly in the area of ophthalmology as there is an understanding of laser-tissue interactions in this medical application, such as ophthalmology This results into use of ophthalmic lasers in treating a wide spectrum of eye-related diseases, such as cataract, glaucoma, age-related macular edema, and diabetic retinopathy.
The major factors that drive the growth of ophthalmic lasers market are increase in number of eye-related diseases, such as glaucoma, cataract, refractive errors, and diabetic retinopathy. Moreover, the advancements in the laser technology and increased awareness of laser applications in the area of ophthalmology also contribute toward the growth of the market. However, stringent safety regulations and high rate of failure are expected to hinder the market growth. Conversely, the large unmet need for new treatment options of ocular diseases with aim to reduce the economic cost burden is expected to offer lucrative opportunities for growth of the market.
Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans. Amidst the initial outbreak of COVID-19, the outlook for the ophthalmic lasers industry has changed significantly. The COVID-19 pandemic led to the significant decline in the demand of ophthalmic lasers for various surgeries of ophthalmic problems. According to the lockdown norms imposed globally, all non-emergency out-patient departments (OPDs) across hospitals and clinics in India were made to shut-down. Furthermore, all the elective surgeries were deferred and only emergency healthcare services were in function. This impacted the market with the decrease in the demand for patient handling products. Moreover, the rise in the number of cases of COVID-19 patients globally had decreased the use of ophthalmic lasers. Overall, the impact of COVID-19 on the ophthalmic lasers market was recorded to be fairly negative. This was attributed to decrease in demand for ophthalmic lasers in the treatment of ophthalmic diseases. Moreover, market players have experienced decrease in investment in materials and resources, owing to increase in supply and demands for devices in all regions.
The ophthalmic lasers market is segmented on the basis of type, product, application, end user and region. On the basis of type, the market is segmented into photodisruption lasers, selective laser trabeculoplasty (SLT), and photocoagulation lasers. On the basis of product, the market is segmented into femtosecond lasers, excimer lasers, Nd:YAG lasers, diode lasers, and others. On the basis of application, the market is segmented into refractive error, cataract surgery, glaucoma surgery, and others. On the basis of end user, it is categorized into hospitals, ambulatory service centers, and clinics. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By type, the global ophthalmic lasers market is classified into photodisruption lasers, selective laser trabeculoplasty (SLT), and photocoagulation lasers. Photocoagulation lasers segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period due to technological advancements in the patient handling devices, increase in adoption of patient handling devices, rise in incidence rate of chronic ophthalmic diseases, and increase in number of advanced & effective product launches.
By product, the global ophthalmic lasers market is classified into femtosecond lasers, excimer lasers, Nd:YAG lasers, diode lasers, and others. Nd:YAG lasers segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period due to increase in the prevalence of ophthalmic diseases like glaucoma, cataract, refractive errors, and diabetic retinopathy and increased awareness of laser applications.
By application, the global ophthalmic lasers market is classified into refractive error, cataract surgery, glaucoma surgery, and others. Glaucoma surgery segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period due to surge in number of eye-related diseases and increasing disposable income.
On the basis of end user, the global ophthalmic lasers market is classified into hospitals, ambulatory service centers, and clinics. Hospitals segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, due to the increase in healthcare awareness, rise in number of hospitals and growth in geriatric and bariatric population.
North America accounted for major share of the global ophthalmic lasers market share in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to increase in number of ophthalmic disabilities, surge in demand for patient handling devices, availability of advanced healthcare facilities with trained medical professionals, rise in number of R&D activities along with large presence of key players, and surge in investment made by governments in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period. Moreover, Japan and China are expected to grow at high CAGR in Asia-Pacific ophthalmic lasers market majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced instruments, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of ophthalmology.
Key Findings Of Study
- On the basis of type, the photocoagulation lasers segment held majority share in the global market in 2020
- On the basis of product, the Nd:YAG lasers segment held majority share in the global market in 2020
- On the basis of application, the glaucoma surgery segment held majority share in the global market in 2020
- On the basis of end user, the hospitals segment held largest ophthalmic lasers market share in 2020, and is expected to remain dominant throughout the forecast period
- Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 63% during the forecast period
Companies Mentioned
- Carl-Zeiss-Stiftung
- Iridex Corporation
- JOHNSON & JOHNSON
- LightMed Corporation
- Lumenis Be Ltd.
- Lumibird Group
- NIDEK CO., LTD
- Novartis International AG
- Topcon Corporation
- Ziemer Ophthalmic Systems AG
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 235 |
| Published | February 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 1207.81 million |
| Forecasted Market Value ( USD | $ 1909.71 million |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
