#Ophthalmic Femtosecond Lasers Market Share

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Ophthalmology Drugs and Devices Market: In-Depth Analysis & Forecast to 2032

Introduction

The ophthalmology drugs and devices market is witnessing rapid growth as the prevalence of eye disorders rises worldwide, particularly due to aging populations and the increasing prevalence of diabetes. Ophthalmic drugs and devices are essential for diagnosing, treating, and managing a range of eye-related conditions, from cataracts and glaucoma to diabetic retinopathy and macular degeneration. This article delves into the current trends, growth drivers, challenges, and future opportunities in the ophthalmology drugs and devices market, with a forecast extending to 2032.

Opthalmology Drugs Devices Market Size was estimated at 50.22 (USD Billion) in 2023. The Opthalmology Drugs Devices Market Industry is expected to grow from 53.43(USD Billion) in 2024 to 87.7 (USD Billion) by 2032. The Opthalmology Drugs Devices Market CAGR (growth rate) is expected to be around 6.39% during the forecast period (2025 - 2032).

Key Market Drivers

Several factors are driving the expansion of the ophthalmology drugs and devices market:

Rising Prevalence of Eye Disorders: The global rise in eye disorders is one of the key drivers of the market. According to the World Health Organization (WHO), over 2.2 billion people worldwide suffer from some form of visual impairment, with conditions such as cataracts, glaucoma, diabetic retinopathy, and age-related macular degeneration (AMD) being the most common. As the global population ages and diabetes becomes more prevalent, these conditions are expected to increase, creating higher demand for ophthalmic drugs and devices.

Technological Advancements in Ophthalmology Devices: Innovation in ophthalmic devices is a significant contributor to market growth. The development of advanced diagnostic tools, such as optical coherence tomography (OCT), femtosecond lasers, and intraocular lenses, has transformed eye care by enabling more precise diagnosis and minimally invasive surgical procedures. These technological advancements improve patient outcomes, reduce recovery times, and drive the adoption of such devices in hospitals and specialized eye care centers.

Growing Demand for Minimally Invasive Procedures: Patients and healthcare providers are increasingly favoring minimally invasive procedures, particularly in ophthalmic surgeries. Advanced devices such as laser-assisted cataract surgery systems and micro-invasive glaucoma surgeries (MIGS) are becoming more common, offering safer, quicker, and more effective treatments. This shift towards less invasive procedures is expected to drive the growth of the ophthalmic devices market.

Awareness and Screening Programs: As awareness of preventable blindness and eye care increases, government and healthcare organizations are implementing screening programs for early diagnosis and treatment of eye diseases. These programs are especially prominent in developed countries, but emerging markets are also investing in such initiatives. The increasing number of eye care centers and hospitals in both developed and developing regions is further accelerating the growth of the ophthalmology market.

Market Segmentation

The ophthalmology drugs and devices market can be segmented based on product type, disease type, and region.

By Product Type: The market is divided into two primary categories: ophthalmology drugs and ophthalmology devices. The drug segment includes anti-infectives, anti-inflammatories, anti-glaucoma drugs, and retinal disease therapies. Meanwhile, the device segment consists of diagnostic and monitoring equipment, surgical devices, and vision correction devices.

By Disease Type: The market addresses a wide range of eye disorders, including cataracts, glaucoma, diabetic retinopathy, macular degeneration, refractive errors, and ocular infections. Among these, cataracts and glaucoma treatments hold a significant market share, driven by their high prevalence among aging populations.

By Region: Regionally, the ophthalmology drugs and devices market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America holds the largest share of the market, primarily due to the advanced healthcare infrastructure, high healthcare expenditure, and increasing prevalence of eye disorders in the region. Europe follows closely, with a growing elderly population and strong presence of ophthalmic device manufacturers. The Asia-Pacific region is expected to witness the fastest growth, driven by rising healthcare investments, increasing awareness of eye health, and a large patient pool.

Challenges Facing the Market

Despite the significant growth potential, the ophthalmology drugs and devices market faces some challenges:

High Cost of Advanced Devices: While technological advancements have improved the effectiveness of ophthalmic treatments, they have also driven up costs. Advanced devices, such as femtosecond lasers for cataract surgery, come with a high price tag, limiting their adoption in low- and middle-income countries. The affordability of these devices remains a challenge, especially in regions with underdeveloped healthcare systems.

Lack of Access to Eye Care in Developing Regions: In many parts of the world, particularly in low-income regions, access to basic eye care remains limited. A lack of infrastructure, trained professionals, and resources hampers the early detection and treatment of eye disorders. Addressing these disparities in healthcare access will be crucial for expanding the global market.

Regulatory Hurdles: The ophthalmology drugs and devices market is heavily regulated, particularly in the U.S. and Europe, where stringent approval processes can slow down the launch of new products. Compliance with these regulations can be time-consuming and costly for manufacturers, creating barriers to market entry for smaller companies.

Future Opportunities and Market Outlook

The future of the ophthalmology drugs and devices market looks promising, with several opportunities for growth:

Emerging Markets: The Asia-Pacific region, in particular, is expected to witness rapid market expansion due to its large patient population, rising healthcare expenditure, and growing awareness of eye health. Companies are increasingly focusing on these emerging markets to expand their customer base and tap into new growth opportunities.

Innovative Drug Therapies: The development of novel drug therapies, particularly for retinal diseases and glaucoma, will further boost the market. Biologics and gene therapies are being explored as potential treatments for various eye conditions, offering new avenues for market growth.

Telemedicine in Ophthalmology: The integration of telemedicine in ophthalmic care has gained momentum, particularly in the wake of the COVID-19 pandemic. Remote diagnostic tools and teleconsultations can help bridge the gap in access to care, especially in underserved regions, further driving the adoption of ophthalmic devices.

Conclusion

The ophthalmology drugs and devices market is poised for significant growth through 2032, driven by rising demand for advanced diagnostic tools and treatments for eye disorders. While challenges such as high costs and limited access remain, innovations in technology and increasing awareness of eye health will continue to fuel market expansion. As companies focus on emerging markets and novel therapies, the ophthalmology industry will see transformative growth over the next decade.

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Microkeratome Market is Estimated to Witness High Growth Owing to Opportunity of Increasing Adoption of Refractive Error Correction Surgeries

The microkeratome market consists of sharp microkeratome and elective microkeratome used for corneal flap creation in ophthalmic surgery procedures. These devices help in creating a consistent, smooth and predictable flap that leads to better visual outcomes and faster recovery for patients undergoing refractive error correction procedures like LASIK. The global microkeratome market is estimated to be valued at US$ 910.3 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity: The increasing adoption of refractive error correction surgeries offers high growth potential for the microkeratome market. Refractive errors like myopia, hyperopia and presbyopia are leading causes of vision impairment globally. According to WHO, around 2.19 billion people suffer from refractive errors worldwide. Growing awareness about minimally invasive refractive error correction procedures like LASIK and PRK is driving their adoption. These procedures involve use of microkeratome for corneal flap creation which is expected to drive the demand for microkeratome devices. Furthermore, improving standards of living in developing countries is increasing healthcare expenditure on elective surgeries for better quality of life which will further propel the adoption of refractive error correction procedures using microkeratomes over the forecast period. Porter’s Analysis Threat of new entrants: The microkeratome market requires significant R&D investments and regulatory approvals which pose high entry barriers for new players. Bargaining power of buyers: The buyers have moderate bargaining owing to availability of alternative technologies for refractive surgery. Bargaining power of suppliers: A few key players dominate the supply market, giving them significant power over pricing. Threat of new substitutes: Technological advancement have introduced newer LASIK systems as an alternative but microkeratomes still have demand for flap making. Competitive rivalry: The market sees intense competition with major players differentiating through design and technological innovations. SWOT Analysis Strength: Microkeratomes offer precise, smoothly cut flaps with minimal debris compared to other techniques. Advances like single use heads reduce risk of infection. Weakness: Microkeratomes require skilled surgeons and are at risk of complications like irregular flaps. Procedure takes longer compared to newer methods. Opportunity: Growing geriatric population prone to vision disorders and rising cataract cases will boost demand for refractive surgeries using microkeratomes. Threats: Newer femtosecond lasers offer improved outcomes and are adopted faster being fully-automated. Post-Covid slowdown impacted capacity utilization. Key Takeaways The global microkeratome market is expected to witness high growth over the forecast period backed by rising prevalence of ophthalmic conditions. North America dominates the market currently owing to high refractive surgery adoption rates and presence of major companies. Europe follows in terms of revenue share on account of growing geriatric population burdened by cataract, glaucoma and related vision disorders requiring surgical interventions. Asia Pacific exhibits highest growth potential led by countries like China, India and Japan where increasing healthcare expenditure and awareness is boosting the volume of cataract and refractive surgeries. Key players operating in the microkeratome market are EssilorLuxottica, Bausch & Lomb Incorporated or its affiliates, Johnson & Johnson Services, Inc., Carl ZEISS AG, Hoya Corporation, Alcon, Inc., STAAR Surgical, Novartis AG, HAAG-Streit Group, NIDEK CO., LTD, Bausch Health Companies Inc., Sonomed Escalon, Topcon Corporation, and Glaukos Corporation. New product launches, capacity expansions and strategic alliances remain top priorities to strengthen market presence.

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The Ophthalmic Lasers Market is segmented by Product (Diode Lasers, Femtosecond Lasers, Excimer Lasers, Nd:YAG Lasers, and Other Products), Application (Glaucoma, Cataract Removal, Refractive Error Corrections, Diabetic Retinopathy, and Other Applications), End User (Hospitals, Eye Clinics, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America).

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Demand Of Cataract Devices Is Forecasted To Expand At A CAGR Of 3.7% By 2032

The global cataract devices market stands at US$ 13.55 billion in 2022 and is forecasted to expand at a CAGR of 3.7% to reach a market size of US$ 19.49 billion by the end of 2032.

Technical advancements leading to risk-free and easy procedures are transforming the way cataract surgeries are performed. Cataract devices account for close to 10% of the global ophthalmic surgery market and are likely to gain 300 BPS over the span of the next ten years.

The Cataract Devices Market survey report is a comprehensive analysis of arcade structure along with future insights on the various segments in the industry. Additionally, it contains thorough profiles of the principal importers and manufacturers who are impacting the industry. The report’s analysis of a number of important elements will aid the reader in understanding the business. The study includes all of the market shares and strategies of significant market participants. The competitive landscape is analyzed in the global Cataract Devices Market based on the top manufacturers, trends, opportunities, marketing strategies analysis, market effect factor analysis, and consumer needs while taking into account the industry’s past, present, and future conditions.

This research also pays attention to the classification, engagement, applications, and market trends along with the major growth drivers. Moreover, this research focuses on emerging trends and recognizes challenges and opportunities in the Cataract Devices Market. The detailed evaluation of CAGR, Market size is done by our analysts intended to give a precise picture of the market. This report refers to 2022 as the base year and the forecast window for this research is from 2023 to 2032. Recent developments and the competitive landscape is covered in this report making it further too detailed and useful for maintaining a competitive edge over other.

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Segmentation of Cataract Devices Industry Research

By Product Type:

Phacoemulsification Equipment

Ophthalmic Viscoelastic Devices (OVD)

Cohesive OVD

Dispersive OVD

Femtosecond Lasers

Intraocular Lenses (IOLs)

Standard Monofocal IOLs

Premium IOLs

Toric IOLs

Multifocal IOLs

Accommodative IOLs

By Application:

Posterior Sub-Capsular Cataracts

Cortical Cataracts

Nuclear Sclerotic Cataracts

Congenital Cataracts

Traumatic Cataracts

Others

By End User:

Hospitals

Ophthalmic Clinics

Ambulatory Surgery Centers

By Region:

North America

Latin America

Europe

East Asia

South Asia & Oceania

MEA

The Cataract Devices Market report answers some important questions such as: 

Who are the top players of this market?

Which is the leading segment in this market?

Which region earned the largest share in the Cataract Devices Market and why?

What is the future prospect of this market?

Market Players:

Bausch & Lomb

Carl Zeiss Meditec AG

Alcon

Hoya Corporation

Staar Surgical

NIDEK CO., LTD

Johnson and johnson

Aurolabs

Biotech Healthcare Group

Ophtec BV

VSY Biotechnology

The Cataract Devices Market report will help readers to: 

A clear understanding of the market and its growth trajectories such as drivers, restraints, challenges, and upcoming opportunities.

Study the key regions holding notable shares in the global Cataract Devices Market growth.

Discuss the current trends, revenue generation pattern, detailed segmentation, and names of leading segments with attributed factors.

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ophthalmic femtosecond lasers market share

ophthalmic femtosecond lasers market share

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Ophthalmic Femtosecond Lasers Market to Perceive Substantial Growth During 2018–2026

Femtosecond laser are ultrafast and ultrashort lasers that release optical pulses 10-15/seconds. The generation of short pulses are achieved by using the passive mode locking technique. This technique is used for generating pulses of light in very short duration (such as for picosecond or femtosecond durations). The femtosecond lasers are popular among ophthalmologists, as such devices help in simplifying and avoiding complex processes of open surgeries. Flap creation in laser in situ keratomileusis (LASIK) is the most common use of this type of laser. It can also be used for other corneal refractive procedures, cataract surgery, and lamellar and full thickness corneal transplantation.

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The femtosecond laser allows thin and uniform flaps that improve the stability, safety, and precision of the flaps. Added advantage of the femtosecond laser is that it allows the medical doctor to select the cutting angle, position, and diameter of the hinge, as well as the flap diameter and flap thickness, which may offer better flap stability and reduce clinical epithelial ingrowth.

Factors impeding ophthalmic femtosecond lasers market growth

Major factors which are hindering the growth of this market are shortage of ophthalmologists. Owing to the presence of key players in North America occupied the leading position in this market with largest share. Over the impending years, the strong focus of these players on R & D, the availability of healthcare infrastructure and a well-established regulatory structure for timely approval of the products are likely to support this regional market to retain its position.

Due to large base of the population, China is expected to emerge as the most attractive domestic market for ophthalmic lasers in Asia Pacific. The Middle East and Africa and Latin America are also projected to witness a considerable rise in their respective markets for ophthalmic lasers in the near future, due to the thriving medical tourism and the low cost of laser eye surgeries in these regions.

Key players operating in the global ophthalmic femtosecond lasers market are IMRA America, Inc., Newport Corporation, Abbott Medical Optics, Alcon, Bausch & Lomb, Carl Zeiss Meditec, and Ziemer Ophthalmic Systems. Click To Read More On Ophthalmic Femtosecond Lasers Market

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Ophthalmic Femtosecond Lasers Market Present Chances, Trends, Value Chain And Stakeholder Analysis 2018-2026

Femtosecond laser are ultrafast and ultrashort lasers that release optical pulses 10-15/seconds. The generation of short pulses are achieved by using the passive mode locking technique. This technique is used for generating pulses of light in very short duration (such as for picosecond or femtosecond durations). The femtosecond lasers are popular among ophthalmologists, as such devices help in simplifying and avoiding complex processes of open surgeries. Flap creation in laser in situ keratomileusis (LASIK) is the most common use of this type of laser. It can also be used for other corneal refractive procedures, cataract surgery, and lamellar and full thickness corneal transplantation.

Download the PDF brochure: https://www.coherentmarketinsights.com/insight/request-pdf/385

The femtosecond laser allows thin and uniform flaps that improve the stability, safety, and precision of the flaps. Added advantage of the femtosecond laser is that it allows the medical doctor to select the cutting angle, position, and diameter of the hinge, as well as the flap diameter and flap thickness, which may offer better flap stability and reduce clinical epithelial ingrowth.

According to Centre for Disease Control and Prevention (CDC), cataract is the prominent blinding condition in the 116 countries enclosed by the Blindness Data Bank in the World Health Organization (WHO) Program for the Prevention of Blindness, nearly 42 million people were affected by severe loss of vision, with cataract being the main cause in 17 million of these cases in 2014. Cataract was the prime cause of blindness in 43.6% of country reports in the same year.

Potential target population in the U.S.

According to Centre for Disease Control and Prevention in 2015, approximately 20.5 million people in the U.S. suffered from cataract, mainly those aged 40 years and older. One of the foremost drivers for ophthalmic femtosecond lasers market is an increasing incidence rate of cataract and rising geriatric population. Among emerging economies, cataract is the major cause of severe visual impairment. World Health Organization carried out a population-based prevalence survey for blindness, across various regions in Africa that are not endemic for trachoma or onchocerciasis, and discovered a blindness rate of around 1%, with cataract accounting for 40%-50% of visual loss cases.

Refractive error can include near-sightedness (myopia), astigmatism or presbyopia, farsightedness (hyperopia). There are several surgical actions for correcting or adjusting eye's focusing ability by reshaping the cornea, or clear, round dome at the front of your eye. Other procedures involve implanting a lens inside your eye. According to Centres for Disease Control and Prevention (CDC):

Factors impeding ophthalmic femtosecond lasers market growth

Major factors which are hindering the growth of this market are shortage of ophthalmologists. Owing to the presence of key players in North America occupied the leading position in this market with largest share. Over the impending years, the strong focus of these players on R & D, the availability of healthcare infrastructure and a well-established regulatory structure for timely approval of the products are likely to support this regional market to retain its position.

Due to large base of the population, China is expected to emerge as the most attractive domestic market for ophthalmic lasers in Asia Pacific. The Middle East and Africa and Latin America are also projected to witness a considerable rise in their respective markets for ophthalmic lasers in the near future, due to the thriving medical tourism and the low cost of laser eye surgeries in these regions.

Key players operating in the global ophthalmic femtosecond lasers market are IMRA America, Inc., Newport Corporation, Abbott Medical Optics, Alcon, Bausch & Lomb, Carl Zeiss Meditec, and Ziemer Ophthalmic Systems.

Click To Read More On Ophthalmic Femtosecond Lasers Market

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Ophthalmic Lasers Market Services, Growth and Challenges Till 2027

Market Highlights:

Ophthalmology is a branch of medical science which deals with the diagnosis, treatment, and prevention of eye disorders. Ophthalmic disorders are common in developed countries due to changing lifestyle. The technological advancement, increasing prevalence of ophthalmic disorders, a growing number of chronic diseases, and rising geriatric population are the major factors driving the growth of the global ophthalmic lasers market. Additionally, increasing RD spending and aggressive strategies adopted by the top players, such as new product launches, are contributing to the growth of the market. For instance, in June 2018, Carl Zeiss Meditec AG has launched next-generation VISULAS green photocoagulation laser in the Ophthalmic Lasers Market, this innovative product can be used for the treatment of diabetic retinopathy and age-related macular degeneration disorders.

The high costs associated with ophthalmic procedures, rising prices of ophthalmic lasers products, and scarcity of technicians to handle ophthalmic devices are likely to hinder market growth during the forecast period.

Regional Analysis:

The market in the Americas is expected to dominate the global ophthalmic lasers market during the forecast period owing to the increasing prevalence of chronic diseases, a growing geriatric population which is suffering from ophthalmic disorders, technological advancements in the healthcare sector, and favorable reimbursement policies in the region. The European market is expected to be the second-largest due to the increasing ophthalmic surgeries in the region, the high adoption rate of innovative technology, and development in the healthcare sector. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to the increasing population, the rising prevalence of chronic diseases and rising healthcare investment. The market in the Middle East Africa is likely to account for the smallest share of the global ophthalmic lasers market.

Segmentation:

The global Ophthalmic Lasers has been segmented on the basis of product, application, and end-user.

The market, by product, has been classified as excimer lasers, femtosecond lasers, diode lasers, SLT laser, ND:Yag lasers, and others

On the basis of application, the market has been segregated into refractive error correction, cataract surgery, diabetic retinopathy, glaucoma surgery, age-related macular degeneration (AMD)treatment, and others.

The end-user segment has been segmented into hospitals, specialty clinics, ambulatory surgical centers, and others.

Key Players:

Some of the key players in the global ophthalmic lasers market are Carl Zeiss Meditec AG, Alcon Laboratories, Inc., Abbott Medical Optics, Inc., Bausch Lomb Incorporated, Ocular Instruments, Quantel Inc., Ellex Medical Lasers Limited, Topcon Corporation, Ziemer Ophthalmic Systems AG, Iridex Corporation, Nidek Co., Limited, Lightmed USA, and Lumenis Ltd.

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Middle East and Africa Ophthalmology Devices Market Challenges and Opportunities, Market size and share-Till the revenue period 2021-2028

Middle East and Africa Ophthalmology Devices Market is grow at a CAGR 4.3% in the forecast 2021 to 2028.

Middle East and Africa Ophthalmology Devices Market Scope and Size

·       On the basis of product type, the market is segmented into diagnostic and monitoring devices, surgery devices and vision care devices. The diagnostic and monitoring devices segment is sub- segmented into optical coherence therapy, ophthalmology ultrasound imaging system, fundus cameras, ophthalmoscopes, retinoscopes, wavefront abberrometers, corneal topography, autorefractors, keratometers, specular microscopes, visual field analyzers, tonometers and slit lamps. The ophthalmology ultrasound imaging system is further sub-sub- segmented into A-scan biometers, B-scan ultrasounds, UBM ultrasounds and pachymeters. The surgery devices segment is sub segmented into cataract surgery devices, glaucoma surgery devices, refractive surgery devices and vitreoretinal surgery devices. The cataract surgery devices segment is sub-sub segmented into intraocular lenses, ophthalmic viscoelasticity devices, phacoemulsification devices and retinoscopes. The glaucoma surgery devices segment is further sub-sub-segmented into glaucoma drainage devices, stents and implants and lasers. The refractive surgery devices segment is sub-sub-segmented into excimer lasers, microkeratomes and femtosecond lasers. The vitreoretinal surgery devices segment is further sub-sub-segmented into vitrectomy machines and packs, photocoagulation lasers, illumination devices and vetrioretinal accessories.

·       On the basis of application, the market is segmented into cataract surgery, vision care, ophthalmic wound care, oculoplastics and others.

·       On the basis of vision care devices, the market is segmented into contact lenses and spectacles.

·       On the basis of end user, the market is segmented into hospitals, academics, eye research institutes, research laboratories, diagnosis clinics, franchise optical stores and government agencies.

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 Middle East and Africa Ophthalmology Devices Market Country Level Analysis

Ophthalmology devices market is analyzed and market size insights and trends are provided by product type, application, vision care devices and end user as referenced above.

 The countries covered in the ophthalmology devices market report are Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

Competitive Landscape and Middle East and Africa Ophthalmology Devices Market Share Analysis

Ophthalmology devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Middle East and Africa presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to ophthalmology devices market.

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The major players covered in the ophthalmology devices market report are Essilor, Marco, Heidelberg Engineering GmbH, HAAG-STREIT GROUP, Johnson & Johnson Surgical Vision., HOYA Corporation., Alcon Management S. A., NIDEK CO. LTD., TOPCON CORPORATION, ZEISS International, Canon Inc., CooperVision, Bausch & Lomb Incorporated., STAAR SURGICAL, Glaukos, EssilorLuxottica, AcuFocus, Inc., Ziemer Ophthalmic Systems, HOYA Corporation among other. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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The Global Ophthalmic Lasers Market, which is anticipated to reach a value of US$ 1.3 Billion by 2030.

Technological advancements have deeply penetrated every facet of the healthcare industry, and the ophthalmic lasers market is no exception. Over the years, ophthalmic disorders such as diabetic retinopathy, refractive errors, glaucoma, cataract and age related macular degeneration (AMD) have surged exponentially. This has accelerated demand for advanced surgical procedures.

The introduction of ophthalmic laser surgery has revolutionized ophthalmic care in unprecedented ways. Majority of these technologies are being deployed in cataract surgeries, attributed to the disorder’s widespread prevalence across all continents. Advancements such femtosecond laser surgeries have proven highly instrumental in streamlining ophthalmic procedures, offering lightning speed detection of faulty tissues.

Such reduced detection and treatment timeframes act as major growth catalysts for the global ophthalmic lasers market, which is anticipated to reach a value of US$ 1.3 Bn by 2030.

Ophthalmic Lasers Market- Key Highlights

Ophthalmic lasers market shall expand steadily at a CAGR of 5% from 2020-2030

Cataract surgeries shall account for the majority share of the global ophthalmic lasers market

Femtosecond laser surgery to hold maximum sway throughout the forecast period

North America shall retain market hegemony, owing to increasing regulatory approvals for laser surgeries by authorities

Asia & Europe to contribute nearly identical revenue shares due to rise in surgeries amidst their geriatric population

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COVID-19 Impact Analysis

The novel coronavirus pandemic will have a significantly high impact on the ophthalmic lasers market. As lockdowns and curbs continue to remain enforced, the number of footfalls across ophthalmology clinics and hospitals have declined considerably. Patient care has diminished by nearly 60%, with only emergency surgeries being permitted.

With in-patient visits becoming next to impossible, ophthalmologists are resorting to telemedicine with regards to consultation and advice to patients. A slump is anticipated in refractive and premium lens surgeries across developing economies in the long-run, attributed to cash crunches experienced by individual households due to the prolonged lockdowns.

At the same time, several countries are enforcing strict social distancing protocols and hygiene practices, keeping demand for ophthalmic laser surgeries sustained. For instance, ophthalmologists in Germany have made it a protocol to test patients requiring intravitreal injections and other procedures for COVID-19. If positive, they are redirected to emergency departments, reducing chances of infection.

“Vendors in the ophthalmic lasers landscape are striving to introduce novel product lines, equipped with multi-frequency selection modes to reduce exposure to intense laser bursts, preventing healthy tissue damage,” infers the FMI analyst.

Competition Dashboard

Prominent vendors in the ophthalmic lasers market include are ZEISS International, Nidek Inc., Bausch & Lomb Inc., Abbot Laboratories Inc., SCHWIND Eye-Tech Solutions, Ziemer Ophthalmic Systems AG, Novartis AG (Alcon), LENSAR LLC., iVIS Technologies and NKT Photonics A/S. New product launches and collaborations have helped these players acquire firm footing.

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In 2018, ZEISS International rolled out its VISUFIT 1000 digital 3D centration data determination and consultation platform, offering a three-dimensional facial reconstruction which enables ophthalmologists perform precise centration processes on patients.

In July 2020, SCHWIND Eye-Tech acquired CE approval for its SCHWIND ATOS femtosecond laser, permitting eye surgeons to incorporate the technology in their SmartSight refractive surgery procedures.

More Insights on the Ophthalmic Lasers Market

A recent market study published by FMI on the ophthalmic lasers market includes the global industry analysis of 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. The report provides a balanced, unbiased analysis of the overall market scenario based on product type (excimer lasers and femtosecond lasers), application (refractive surgery, cataract surgery, capsulotomy, trabeculoplasty and diagnostics), end-user (hospitals, ophthalmology clinics and ambulatory surgical centers) and region (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).

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Ophthalmic Lasers Market Key Manufacturers, Development Trends and Competitive Analysis

The ophthalmic lasers market reached an evaluation of $0.97 bn in 2015. According to a newly released TMR report, the market promises further growth at 4.60% CAGR during 2016-2024, and reach US$1.44 bn in evaluation by 2024 end. According to TMR report, the growth of retinal photocoagulation is one of the most promising application on the horizon for players in the ophthalmic lasers market.

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Among various distribution segments in the market, the specialty clinics remain prominent in their use of ophthalmic laser solutions. The specialty clinics have become the go-to option in key markets like North America region. Their relatively inexpensive and specialised procedures, their direct financial accountability to patients, and their ease of accessibility remains a key to their growth.

North America is expected to register highest revenues during the 2016-2024 period, thanks to widespread adoption of the ophthalmic laser technology. Moreover, the rising cases of diabetics, advancements in the laser technology will likely drive further growth in the market during the forecast period.

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Retinal Laser Photocoagulation Promises New Opportunities

Retinal laser photocoagulation is a new method for vision impairment which provides protection for vulnerable patients of diabetic retinopathy and macular edema from possible vision loss. The procedure is safe and promises major growth due to its minimal-invasive nature, and rising cases of diabetic retinopathy. According to the American National Eye Institute, diabetic retinopathy is the most common diabetic eye disease. Additionally, it is one the leading cause of blindness among Americans. The disease affects nearly 80% of the people with diabetes, and 90% of these patients can be treated with the advanced methods. The growing cases of diabetes is a major challenge in the healthcare sector. This remains a key opportunity for players in the ophthalmic lasers market.

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Rising Cases of Eye Illnesses and Elderly Population to Fuel Growth

According to the American Institute of Ophthalmology, nearly 24.4 million under the 40, and nearly half of all Americans by age 75 undergo cataract surgeries. Moreover, the cases of glaucoma are also on the rise. It affects more than 2.7 million Americans over the age of 40. New eye-related illnesses like age-related macular degeneration can also lead to severe vision impairments and impacts nearly 2.1 million Americans over the age of 50. By Age 80, the number rises to in in ten Americans. Increasing health concerns among the elderly population, the rise of geriatric population globally in China, US, Europe, among others will drive significant opportunities for growth for the ophthalmic lasers market. Moreover, increasing urbanization, pollution, and increasing expansion of healthcare access in emerging nations will also create significant new opportunities for growth for players in the ophthalmic lasers market.

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The study presented here is based on a report by Transparency market research titled “Ophthalmic Lasers Market (Product - Diode Lasers, Femtosecond Lasers, Excimer Lasers, Nd:YAG Lasers, Argon Lasers, and SLT Lasers; Application - Glaucoma, Cataract, Refractive Error Corrections, Diabetic Retinopathy, and AMD; End User - Hospitals, Ambulatory Surgical Centers, and Ophthalmic Clinics) - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2016 – 2024”.

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Ophthalmic Lasers Market Expected To Cross $1.6 Billion By 2025

The global ophthalmic lasers market size is anticipated to reach USD 1.6 billion by 2025, according to a new report by Grand View Research, Inc. Ophthalmic disorders are rising significantly on a global level. This rise in the prevalence rate has led to high growth of ophthalmic lasers market.

According to American Academy of Ophthalmology 2014 statistics, nearly 4.2 million people in the U.S. are visually impaired. Huge number of people suffering from visual impairment are likely to heighten the demand for ophthalmic lasers in the coming years.

Vision loss is a serious problem among people suffering from glaucoma, cataract, age-related macular degeneration (AMD), and diabetic retinopathy. This commonly occurs among the geriatric population. American Academy of Ophthalmology stated that, around 1.3 million U.S. population are blind. Hence, in order to minimize such huge rate of vision loss, there is a high need for the application of ophthalmic laser technology.

Geriatric population are the primary target for the market. Majority of the chronic ophthalmic disorders, for instance, cataract and AMD occur among this group of population. However, refractive errors are also very common among the young people. Thus, growing number of victims of chronic eye diseases has led to an expected growth of the market.

U.S. ophthalmic lasers market, by product, 2014 - 2025 (USD Million)

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Ophthalmic Lasers Market Report Highlights

In 2016, femtosecond lasers dominated the market due to rising prevalence of refractive errors among both geriatric and young population

Amongst the application segment, refractive error corrections held the largest market share in 2016 due to large number of surgeries conducted for refractive errors

Cataract removal is anticipated to show lucrative growth over the forecast period owing to the rising prevalence of cataract removal surgeries among the geriatric people

In 2016, hospitals contributed towards the largest revenue share owing to the emergence of large number of hospitals in developing economies

North America dominated the ophthalmic lasers market in 2016 due to rising prevalence of ophthalmic disorders in this region

Asia Pacific is expected to show lucrative growth over the forecast period owing to the increase in awareness levels among people in developing countries about various treatments for chronic eye disorders

Few major companies include Carl Zeiss Meditec AG, Abbott Medical Optics, Inc., Alcon Laboratories, Inc., Ellex Medical Lasers Limited, Lumenis, and Bausch & Lomb Incorporated.

Ophthalmic Lasers Market Segmentation

Grand View Research has segmented the ophthalmic lasers market on the basis of product, application, end-use, and region:

Ophthalmic Lasers Product Outlook (Revenue, USD Million, 2014 - 2025)

Diode Lasers

Femtosecond Lasers

Excimer Lasers

Nd:YAG lasers

SLT Lasers

Others

Ophthalmic Lasers Application Outlook (Revenue, USD Million, 2014 - 2025)

Glaucoma

Cataract Removal

Refractive Error Corrections

Diabetic Retinopathy

AMD

Others

Ophthalmic Lasers End-use Outlook (Revenue, USD Million, 2014 - 2025)

Hospitals

Ambulatory Surgical Centers

Ophthalmic Clinics

Ophthalmic Lasers Regional Outlook (Revenue, USD Million, 2014 - 2025)

North America

Europe

Asia Pacific

Latin America

MEA

U.S.

Canada

Germany

UK

Japan

China

India

Brazil

Mexico

South Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Advanced Ophthalmology Technologies Market: Industry Overview, Trends and Growth Opportunities Forecasted Till 2026

The global advanced ophthalmology technologies market size is expected to reach USD 9.6 billion by 2026, expanding at a CAGR of 6.5%, as per a new report by Grand View Research Inc. Frequent introduction of advanced ophthalmology technologies incorporated in various ophthalmic devices such as optical coherence tomography scanner, specular microscopes, excimer lasers, and femtosecond lasers is expected to drive the overall market growth.

Rising geriatric population is contributing toward the growing prevalence of age-related ophthalmic disorders such as cataract, diabetic retinopathy, and myopia. This growing prevalence of ophthalmic disorders is boosting the adoption of ophthalmic treatments, and thus, advanced ophthalmic devices. Major players in the market are focusing on adopting advanced technologies such as SWEPT Source OCT, Partial coherence interferometry (PCI), and Polatest technology. These technologies will help in developing effective ophthalmic devices for efficient diagnosis and treatment of ophthalmic disorders.

Ophthalmic ultrasound imaging systems are one of the most preferred advanced ophthalmic diagnostic device and is expected to grow at a significant pace. The optical biometry systems segment is also expected to grow at steady rate during the forecast period in comparison to the ophthalmic ultrasound imaging systems segment. This is because optical biometry provides more accurate data in comparison to ultrasound as the refinements in its technology help in measuring lens thickness, anterior chamber depth, and other axial length parameters.

Surgical devices held the largest share among advanced ophthalmic therapeutic devices in 2018. This is because of the increasing number of ophthalmic surgeries. Major ophthalmic surgical devices are microkeratome and Vitreo retinal surgery devices. Microkeratome is largely preferred for LASIK and ALK surgery. Excimer lasers are also preferred as one of the advanced ophthalmic lasers because these lasers produce very small and precise spots at a very low wavelength.

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Advanced Ophthalmology Technologies Market Report Highlights

• North America captured the largest market share in 2018 owing to factors such as presence of major market players, growing prevalence of age-related ophthalmic disorders, and frequent approvals of advanced ophthalmic devices in the U.S.

• The diagnostic segment held the dominant market share in 2018 and is expected to witness the fastest growth rate. This is because of the growing need for early diagnosis of ophthalmic disorders

• Optical coherence tomography scanners are highly preferred products under advanced diagnostic ophthalmic devices as these scanners provide accurate results via high resolution images

• The therapeutic segment is expected to showcase a lucrative growth rate. Ophthalmic lasers are expected to grow at a significant pace during the forecast period. These lasers are safe and effective in the treatment of ophthalmic disorders

• Ambulatory surgery centers are expected to exhibit the fastest growth rate owing to favorable reimbursement provided by these centers for ophthalmology procedures

• Key players in the market include Johnson & Johnson Services, Novartis AG, Alimera Sciences, Teva Pharmaceuticals, Bausch & Lomb Incorporated, CooperVision, Alcon Vision LLC, Carl Zeiss Meditec AG, Essilor International S.A., Ziemer Ophthalmic Systems Ltd., Nidek Co. Ltd., and Topcon Corporation.

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Cataract Surgical Devices Market Growth, Size, Demand, Trends, Share and Forecast 2027

The global cataract surgical devices market size is projected to reach USD 9.98 billion by the end of 2026. The high prevalence of cataract disorders will open up a huge potential for market growth. According to a report published by Fortune Business Insights, titled “Cataract Surgical Devices Market Size, Share & Industry Analysis, By Product Type (Phacoemulsification Systems, Femtosecond Laser, Intraocular Lenses, Ophthalmic Viscoelastic Devices & Other Consumables), By End-user (Hospitals, Ophthalmic Clinics, Others), and Regional Forecast, 2019-2026,” the market was worth USD 6.56 billion in 2018 and will exhibit a CAGR of 5.4% during the forecast period, 2019-2026.

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/cataract-surgical-devices-market-101957

The increasing prevalence of cataract surgeries has opened up a huge potential for the growth of the companies operating in the market. Recent technological advances in these devices have allowed for improved surgical procedures. The improved efficacies of these devices has in turn led to an increased adoption of cataract surgeries. In addition to this, the favourable health reimbursement policies have contributed to the growing adoption of cataract surgeries and subsequent rise in the demand for cataract surgical devices. The growing demand will have a direct impact on the growth of the market in the coming years.

The report provides an in-depth analysis of the global cataract surgical devices market. It highlights the latest product launches and recent innovations in the market and states their impact on the growth of the market. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years. Forecast values have been provided for the market for the period of 2019-2026. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals.

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Ophthalmic Femtosecond Lasers Market Size by 2018 Opportunities | Vendors | Drivers| Challenges | Developments | Forecast

Femtosecond laser are ultrafast and ultrashort lasers that release optical pulses 10-15/seconds. The generation of short pulses are achieved by using the passive mode locking technique. This technique is used for generating pulses of light in very short duration (such as for picosecond or femtosecond durations). The femtosecond lasers are popular among ophthalmologists, as such devices help in simplifying and avoiding complex processes of open surgeries. Flap creation in laser in situ keratomileusis (LASIK) is the most common use of this type of laser. It can also be used for other corneal refractive procedures, cataract surgery, and lamellar and full thickness corneal transplantation.

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The femtosecond laser allows thin and uniform flaps that improve the stability, safety, and precision of the flaps. Added advantage of the femtosecond laser is that it allows the medical doctor to select the cutting angle, position, and diameter of the hinge, as well as the flap diameter and flap thickness, which may offer better flap stability and reduce clinical epithelial ingrowth.

According to Centre for Disease Control and Prevention (CDC), cataract is the prominent blinding condition in the 116 countries enclosed by the Blindness Data Bank in the World Health Organization (WHO) Program for the Prevention of Blindness, nearly 42 million people were affected by severe loss of vision, with cataract being the main cause in 17 million of these cases in 2014. Cataract was the prime cause of blindness in 43.6% of country reports in the same year.

Potential target population in the U.S.

According to Centre for Disease Control and Prevention in 2015, approximately 20.5 million people in the U.S. suffered from cataract, mainly those aged 40 years and older. One of the foremost drivers for ophthalmic femtosecond lasers market is an increasing incidence rate of cataract and rising geriatric population. Among emerging economies, cataract is the major cause of severe visual impairment. World Health Organization carried out a population-based prevalence survey for blindness, across various regions in Africa that are not endemic for trachoma or onchocerciasis, and discovered a blindness rate of around 1%, with cataract accounting for 40%-50% of visual loss cases.

Refractive error can include near-sightedness (myopia), astigmatism or presbyopia, farsightedness (hyperopia). There are several surgical actions for correcting or adjusting eye's focusing ability by reshaping the cornea, or clear, round dome at the front of your eye. Other procedures involve implanting a lens inside your eye. According to Centres for Disease Control and Prevention (CDC):

Factors impeding ophthalmic femtosecond lasers market growth

Major factors which are hindering the growth of this market are shortage of ophthalmologists. Owing to the presence of key players in North America occupied the leading position in this market with largest share. Over the impending years, the strong focus of these players on R & D, the availability of healthcare infrastructure and a well-established regulatory Ophthalmic Femtosecond Lasers Market Growth,structure for timely approval of the products are likely to support this regional market to retain its position.

Due to large base of the population, China is expected to emerge as the most attractive domestic market for ophthalmic lasers in Asia Pacific. The Middle East and Africa and Latin America are also projected to witness a considerable rise in their respective markets for ophthalmic lasers in the near future, due to the thriving medical tourism and the low cost of laser eye surgeries in these regions.

Key players operating in the global ophthalmic femtosecond lasers market are IMRA America, Inc., Newport Corporation, Abbott Medical Optics, Alcon, Bausch & Lomb, Carl Zeiss Meditec, and Ziemer Ophthalmic Systems.

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The report proposed for titled Excimer & Femtosecond Ophthalmic Lasers, by supply demand Market Research consultant for year 2022-2027 is designed in a manner that allows our client to analyze and compare the Excimer & Femtosecond Ophthalmic Lasers. The report includes various aspects relati