#Ophthalmic Femtosecond Lasers Market Size

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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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Laser Vision Correction Market is Estimated to Witness High Growth Owing to Opportunity of Increased Adoption of Refractive Procedures

Laser vision correction techniques such as LASIK and PRK have made it possible for many people to become free from spectacles or contact lenses. Laser vision correction involves using ultra-precise lasers to reshape the cornea and correct vision. It provides improved outcomes for conditions like myopia, hyperopia, and astigmatism. The demand for laser eye surgeries is growing owing to the advantages they offer over wearing contact lenses or spectacles such as better vision quality and independence from glasses. The global Laser Vision Correction Market is estimated to be valued at US$ 1832.7 Million in 2023 and is expected to exhibit a CAGR of 5.50% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity: The increasing adoption of refractive procedures is estimated to provide high growth prospects for the laser vision correction market. Refractive errors are among the most common vision conditions requiring corrections. The prevalence of myopia and hyperopia has been increasing globally. As per recent estimates, nearly 30% of the global population is expected to be affected by myopia by 2050. Moreover, awareness about laser vision correction treatments is growing significantly. This is prompting more people to opt for laser eye surgeries for refractive error corrections instead of wearing spectacles or contact lenses on a regular basis. The non-invasive nature and technological advancements in laser vision correction procedures are supporting their increased adoption globally. Porter’s Analysis Threat of new entrants: The threat of new entrants is moderate as establishing a laser eye surgery center requires high initial capital investment for specialized lasers, operating room equipment and trained staff. However, existing players have well established brand names.

Bargaining power of buyers: The bargaining power of buyers is high as there are many options available for laser vision correction and customers can easily switch between providers based on price and quality of service.

Bargaining power of suppliers: A few global players dominate the supply of excimer and femtosecond lasers used for laser eye surgeries. This gives them significant bargaining power over clinics and hospitals.

Threat of new substitutes: Threat from new substitutes is low as corrective lenses and glasses provide an alternative but laser vision correction offers a permanent solution without the hassles of using contact lenses or glasses.

Competitive rivalry: The market is highly competitive with major players constantly upgrading their laser technology and offering different treatments. SWOT Analysis Strengths: Non-invasive procedure, quick recovery time, permanent results without dependence on lenses or glasses.

Weaknesses: High costs, risks of complications, not suitable for all patients.

Opportunities: Growing geriatric population impacted by presbyopia and myopia. Rising disposable incomes in developing nations. Threats: Strict regulatory framework. Side effects and risks associated may impact demand. Key Takeaways The global Laser Vision Correction Market is expected to witness high growth. The market size is projected to reach US$ 3569.7 Million by 2030 from US$ 1832.7 Million in 2023, growing at a CAGR of 5.50% during 2023-2030. North America dominates the market currently due to growing prevalence of eye disorders and availability of advanced laser vision correction facilities. Asia Pacific is expected to grow at the fastest pace owing to rising medical tourism and increasing focus of global players on emerging countries in the region. Key players operating in the Laser Vision Correction market are Johnson & Johnson Private Limited, Alcon Management S. A., NIDEK CO., LTD., Bausch Health Companies Inc., Ziemer Ophthalmic Systems AG, SCHWIND eye-tech-solutions, and Coherent Corp. These players are involved in new product launches, partnerships and expansion strategies to strengthen their 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 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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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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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.

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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 Lasers Market Top Companies, Business Growth, Size and Forecast till 2025

September 01, 2021: The global ophthalmic lasers market size was worth USD 1.0 billion in 2016, which is anticipated to grow at a CAGR of more than 5.9% during the forecast period. Increase in incidence of chronic ophthalmic disorders is the major driving factor contributing to the growth of ophthalmic lasers market.

There is a rise in prevalence of ophthalmic disorders such as glaucoma, cataract, refractive errors, Age Related Macular Degeneration (AMD), retinal disorders and diabetic retinopathy. According to American Academy of Ophthalmology in 2014, 60.5 million people were estimated to be suffering from glaucoma globally. According to WHO, glaucoma is the second major cause of blindness in the world.

Based on the Journal of Ophthalmology, cataract is the leading cause of blindness in the world. According to New-Medical .Net, in 2015, 22 million people aged 40 years and above were affected with cataract. According to National Eye Institute, by 2050, the number of people in US with cataract is estimated to double from 24.4 million to around 50 million. Thus, with the rise in incidence of ophthalmic disorders the market is estimated to witness rapid growth during the forecast period.

According to a study conducted by PLOS, in UK approximately 54% of the people aged 40-69 years were affected by refractive error of which 27% of the people had myopia. Refractive error is a major health issue in UK. It is a genetic disorder, so the individuals whose parents are suffering from any form of refractive disorder are likely to be affected by similar disorder. Thus, the aforementioned factors are supporting the growth of the ophthalmic lasers market.

Increase in geriatric population is another key factor driving the growth of the market. This group of population is generally affected by various eye disorders. The most common eye disorders for this group are cataract and hyperopia.

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Product Insights

In the product segment, femtosecond lasers held the largest revenue share in 2016. The rising number of people affected by refractive disorders along with its use during cataract surgeries has led to the growth of the market.

Rise in technological advancements, versatility, predictability, and the unique properties offered by the femtoseconds lasers has increased its demand. Thus, newer technologies are contributing to the growth of the market.

Excimer laser is a form of ultraviolet laser, which is used for the treatment of refractive errors. For instance, Carl Zeiss Meditec AG launched MEL 80 Excimer for refractive laser surgery. This devices in combination with femtosecond laser helps in correcting refractive errors. These lasers account for a considerable share owing to its increased usage in healthcare facilities.

SLT and YAG lasers are used for the treatment of anterior segment of the eye. It helps in treatment of glaucoma, retina and corneal surgery by reducing the intra ocular pressure. Ellex Medical Lasers Limited has a wide range of SLT and YAg lasers for the treatment of eye disorders. These lasers are anticipated to grow at significant rate over the forecast period.

Application Insights

On the basis of application, refractive error corrections dominate the market in 2016. Rising incidence of refractive errors in children and geriatric population has contributed towards the growth of this segment. In addition, use of femtoseconds lasers in correcting eye disorders have also contributed to the growth of this segment.

Cataract removal is expected to witness fastest growth over the forecast period due to the increasing number of cataract removal surgeries taking place across the globe. Cataract is a common problem in the geriatric population which is the leading cause of blindness, if not given proper care at the right time.

Glaucoma is the second leading cause of blindness, if not given proper medical attention. This has eventually contributed to the increased the demand for SLT and YAG lasers. Lumenis introduced a product, Smart Select Duet, which uses the combination of SLT and YAG lasers for treating glaucoma.

Retinal disease such as AMD and diabetic retinopathy are the common problem of geriatric population. According to the American Academy of Ophthalmology, 60% of people with diabetes develop diabetic retinopathy. The major players are focussing on production of products which are helpful in correcting such eye disorders. For instance, Topcon Corporation manufactured PASCAL Synthesis System for the treatment diabetic retinopathy and AMD.

End use Insights

On the basis of the end-use, hospital held the largest market share in 2016 due to the large number of ophthalmic lasers being performed in hospitals. The rising number of hospitals in the developing countries with the support of the government also contributes to the growth of this segment.

Ambulatory surgical centres are expected to witness significant growth over the forecast period. The increasing initiatives for awareness undertaken by the government in the developing countries contributes to the growth of this segment.

Ophthalmic clinics are expected to show fastest growth over the forecast period. This is due to the rise in number of speciality clinics which can treat chronic conditions and the personal care given to the patients. Absence of trained professional who deal with the complexities arising at or during ophthalmic lasers is expected to hinder the growth of this market.

Regional Insights

North America dominated the market in 2016 due to the rising healthcare expenditure and development of healthcare infrastructure in the US. The rising incidence of diabetes in America also contributes to the growth of ophthalmic disorders which in turn is anticipated to flourish the regional market.

Europe also contributes to a significant share of the market in 2016, due to the increase in geriatric population. Increase in ophthalmic disorders among this population group is expected to support the regional market growth.

Asia Pacific is expected to show an attractive growth over the forecast period due to increase in healthcare expenditure in developing countries such as India and China. The increase in prevalence of cataract removal surgeries boosts the market growth. Moreover, increasing awareness level among people for prevention of blindness also contributes to the growth of this market.

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Competitive Insights

Some of the major players of the market include Alcon Laboratories, Inc., Carl Zeiss Meditec AG, Ellex Medical Lasers Limited, Abbott Medical Optics, Inc., Bausch & Lomb Incorporated, Topcon Corporation, IRIDEX Corporation, Lumenis, Ziemer Ophthalmic Systems AG, and NIDEK Co., Ltd.

The major strategies of the key players include mergers & acquisitions, new product development, and regional expansions. For instance, in 2015, Topcon Corporation redesigned Next Generation Pattern Scanning Laser PASCAL Synthesis with an automatic table, which helps in efficiency and space savings.

Market Segment:

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

• U.S.

• Canada

• Europe

• Germany

• UK

• Asia Pacific

• Japan

• China

• India

• Latin America

• Brazil

• Mexico

• MEA

• South Africa

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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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Ophthalmic Lasers Market Size, Share, Development by 2025

Ophthalmic Lasers Market is expected to reach USD 1505.5 Million by 2025, from USD 1018.92 Million growing at a CAGR of 5.0% during the forecast period of 2020 to 2025. Ophthalmic lasers are devices which use precise source of light to treat ophthalmic ailments.

Major Market competitors/players: Global Ophthalmic Lasers Market

Some of the major players operating in the ophthalmic lasers market are Alcon Laboratories, Inc., Carl Zeiss Meditec AG, Ellex Medical Lasers Limited, Abbott Medical Optics, Inc., Bausch & Lomb Incorporated, Topcon Corporation, IRIDEX Corporation, Lumenis, Ziemer Ophthalmic Systems AG, and NIDEK Co., Ltd among others.

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Lasers lights are divided into coherent, monochromatic and collimated. Using the laser-based microscopic techniques with adaptive optics helps ophthalmologist to detect glaucoma and other devastating eye problems. In diabetic retinopathy argon lasers are generally used. Krypton lasers are used in macular degeneration.

Market Segmentation: Global Ophthalmic Lasers Market

The ophthalmic lasers market is segmented into product, application, end users and geography.

·         Based on product, the market is segmented into femtosecond laser, excimer lasers, ND:YAG laser, diode lasers and others.

·         Based on application, the market is segmented into refractive error correction, cataract removal, diabetic retinopathy, glaucoma, age-related macular degeneration and other.

·         Based on the end-users, the market is segmented into hospital, ambulatory surgical centers and others

Competitive Analysis: Global Ophthalmic Lasers Market

The global ophthalmic lasers market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions and others to increase their footprints in this market. The report includes market shares of ophthalmic lasers market for global, Europe, North America, Asia Pacific and South America.

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Major Market Drivers and Restraints:

·         Increased in prevalence of ophthalmic ailments

·         Increase in geriatric population

·         Increase in prevalence of chronic diseases like diabetes

·         Advancement in technology in laser based devices

·         High cost of equipment and therapy

·         Availability of alternative therapies

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Ophthalmic Lasers Market is Expected to Expand at an Impressive Rate by 2024

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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