The ophthalmic lasers market is projected to reach USD 1,245.4 million by 2021 from USD 970.2 million in 2016, at a CAGR of 5.1%.
Increasing prevalence of ophthalmic disorders, increasing prevalence of chronic disorders, rising geriatric population, increasing regulatory approvals, and increasing initiatives to prevent vision impairment are some factors driving the growth of the global ophthalmic lasers market. On the other hand, high cost of the equipment and therapies is expected to restrain the growth of the market. However, increasing number of hospitals and clinics in emerging economies such as China, India, and Pacific countries are providing growth opportunities for the ophthalmic lasers market.
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Femtosecond lasers have automatized many steps performed manually during laser vision correction and cataract surgery. These lasers have increased the precision and safety of the both vision correct and cataract surgeries. Thus, this segment is expected to grow at the highest CAGR during the forecast period and is projected to have largest market size in 2016.
The cataract removal segment is expected to grow at the highest CAGR during forecast period, due to increasing prevalence of cataract resulting from the rising geriatric population. Furthermore, refractive error correction segment will have largest market size in 2016, due to the factors such as high patient pool and technical advancements resulting in better clinical outcomes when compared to use of visual aids such as spectacles and contact lens.
In 2016, North America is expected to account for the largest share of the global ophthalmic lasers market, followed by Europe, Asia-Pacific, and Rest of the World (RoW). North America’s large share is attributed to the increasing prevalence of ophthalmic disorders, rising prevalence of chronic diseases, and increasing regulatory approvals. In the coming years, the ophthalmic lasers market is expected to witness the highest growth in the Asia-Pacific region, with emphasis on India, China, and Japan. This can be attributed to factors such as high prevalence of ophthalmic disorders, introduction of initiatives for prevention of blindness and treatment projects for various ophthalmic disorders, and rising aging population.
The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (expansions; new product launches; marketing and promotion; agreements, collaborations, contracts, partnerships, and joint ventures; funding; acquisitions; patent grants, website launches, and product enhancement) to increase their market shares and establish a strong foothold in the global ophthalmic lasers market.
In-depth interviews were conducted with CEOs, Sales and Marketing Directors, other innovation and technology directors, and executives from various key organizations operating in the ophthalmic lasers market.
By Company Type: Tier 1: 50%, Tier 2: 42%, Tier 3: 8%
By Designation: Director-level: 58%, C-level: 25%, Others: 17%
By Region: North America: 46%, Europe: 31%, APAC: 15%, RoW: 8%
The report includes the study of key players offering ophthalmic lasers such as Alcon Laboratories, Inc. (U.S.), Abbott Medical Optics, Inc. (U.S.), Carl Zeiss Meditec AG (Germany), Bausch & Lomb Incorporated (U.S.), Ellex Medical Lasers Limited (Australia), Topcon Corporation (Japan), Ziemer Ophthalmic Systems AG (Switzerland), IRIDEX Corporation (U.S.), NIDEK Co., Ltd. (Japan), and Lumenis Ltd. (Israel).
Related Report:
Global Ophthalmic Lasers Industry Market Research Report
The Ophthalmic Lasers market revenue was xx.xx Million USD in 2013, grew to xx.xx Million USD in 2017, and will reach xx.xx Million USD in 2023, with a CAGR of x.x% during 2018-2023. Based on the Ophthalmic Lasers industrial chain, this report mainly elaborate the definition, types, applications and major players of Ophthalmic Lasers market in details. Deep analysis about market status (2013-2018), enterprise competition pattern, advantages and disadvantages of enterprise Products, industry development trends (2018-2023), regional industrial layout characteristics and macroeconomic policies, industrial policy has also be included. From raw materials to downstream buyers of this industry will be analyzed scientifically, the feature of product circulation and sales channel will be presented as well. In a word, this report will help you to establish a panorama of industrial development and characteristics of the Ophthalmic Lasers market.
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