Ophthalmic lasers refer to specialized medical devices that use concentrated light beams to perform precise surgical procedures on the eye, treating conditions like cataracts, glaucoma, and retinal disorders. They provide a minimally invasive and highly targeted approach to vision correction and eye disease management.
Sizing and Forecast
The ophthalmic lasers market size has grown strongly in recent years. It will grow from $1.25 billion in 2023 to $1.34 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increasing incidence of eye disorders, aging population, rise in refractive surgeries, increased awareness and early diagnosis, expanding healthcare infrastructure, strategic collaborations in the healthcare sector..
The ophthalmic lasers market size is expected to see strong growth in the next few years. It will grow to $1.67 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to rising global geriatric population, growing lifestyle-related eye disorders, expansion of minimally invasive surgeries, increasing demand for aesthetic eye procedures, customization and personalization of treatments, collaborations in research and development.. Major trends in the forecast period include advancements in photocoagulation techniques, focus on pediatric ophthalmic procedures, emergence of portable and handheld lasers, enhanced visualization technologies, rapid growth in refractive surgery market, collaborations for research and development..
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Segmentation & Regional Insights
The ophthalmic lasers market covered in this report is segmented –
1) By Product Type: Femtosecond Lasers, Excimer Lasers, Neodymium-Doped Yttrium Aluminum Garnet (Nd:YAG) Laser, Diode Lasers, Other Products
2) By Application: Refractive Errors Treatment, Cataract Treatment, Glaucoma Treatment, Diabetic Retinopathy Treatment, Age-Related Macular Degeneration (AMD) Treatment, Other Applications
3) By End-User: Hospitals, Ambulatory Service Centers, Ophthalmic Clinics
North America was the largest region in the ophthalmic lasers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ophthalmic lasers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
A rising prevalence of eye diseases is expected to propel the growth of the ophthalmic laser market going forward. Eye disorders are illnesses or conditions affecting the eyes’ tissues and other components, leading to various symptoms and potential vision impairment. The rise in eye illnesses such as glaucoma and diabetic retinopathy is a primary cause of the expansion of ophthalmic lasers demand, which are intended for precise and targeted applications within the eye and play an essential part in various ophthalmic treatments. For instance, in November 2022, according to the Centers for Disease Control and Prevention, a US-based government administration for public health, over 3 million Americans were suffering from glaucoma (eye conditions that can damage the optic nerve), and it is expected to increase to 6.3 million by 2050. Therefore, the increase in the incidence of eye diseases/glaucoma will drive the growth of the ophthalmic laser market.
Key Industry Players
Major companies operating in the ophthalmic lasers market report are Abbott Laboratories, Alcon Laboratories Inc., Bausch & Lomb Incorporated, Coherent Inc., Carl Zeiss Meditec AG, Topcon Corporation, Lumenis Ltd., Johnson & Johnson Surgical Vision Inc., LUMIBIRD, Optos PLC, Lutronic Corporation, Quantel Medical SAS, NIDEK CO. LTD, IRIDEX Corporation, Ellex Inc., Technolas Perfect Vision GmbH, LENSAR LLC, Lightmed GmbH, Ziemer Ophthalmic Systems AG, Ocular Instruments, SCHWIND eye-tech-solutions GmbH & Co. KG, NoIR Laser Company LLC, ASICO LLC., DEKA Laser, AcuFocus Inc., A.R.C. Laser GmbH, ATL Lasertechnik GmbH, Norlase, Alna-Medicalsystem GmbH, Luxium Solutions LLC</b
The ophthalmic lasers market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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