Market Research Report
Global Ophthalmic Lasers Market Research and Forecast, 2019-2025
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|Global Ophthalmic Lasers Market Research and Forecast, 2019-2025|
|Published: February 21, 2019||Content info:||
Ophthalmic Lasers Market Size, Share & Trends Analysis Report, By Type (Excimer Laser, Femtosecond Laser, Cyclodiode Laser, Nd: YAG Laser, SLT Laser and Other), By End-User (Hospital, Clinic, and Ambulatory Surgical Center), and Forecast, 2019-2025.
Laser stands for 'Light Amplification by Stimulated Emission of Radiation". The use of ophthalmic lasers has been gaining wide popularity in the surgical care for treatment of several eye disorders, such as glaucoma, cataract, diabetic retinopathy, and age-related macular degeneration. During the ophthalmic procedure, the lasers are used for various purposes, such as to photocoagulate, cut, remove, shrink, and stretch ocular tissues. This enables precise treatment of eye problems with less risk of infection. Several ophthalmic laser procedures can be performed on an outpatient basis and are relatively pain-free. The combination of significant accuracy and safety make lasers highly useful ophthalmic tools. However, the lasers require to be used accurately and safely during the procedure to prevent hazards and accidental exposure to laser beams. Hence, highly skilled professionals are required who can effectively operate a laser device.
The major factors that are encouraging the adoption of ophthalmic lasers include increasing prevalence of glaucoma and cataract, technological innovations in ophthalmic laser technology and significant growth in the geriatric population base. According to the United Nations (UN), in 2015, 1 in 8 people globally was aged 60 years and older. During the period 2015 and 2030, the people aged 60 years and older is anticipated to grow by 56%, from 901 million to 1.4 billion. Among the elderly population, vision loss is a major healthcare concern. Early detection and treatment play a major role to save the eyesight. This significant prevalence of aging population is propelling the demand for laser procedures and ophthalmic lasers as it offers significant safety and effectiveness, as compared to traditional approaches. For example, the use of femtosecond laser in cataract surgery enables fragment the cataract, open the lens capsule, and make corneal incisions. This requires low phacoemulsification energy and time and thus decreases thermal injury to ocular tissues by corneal edema and ultrasound. However, there are certain factors restraining the growth of the market, such as some risks associated with LASIK surgery and the shortage of skilled professionals.
The global ophthalmic lasers market is segmented on the basis of type, application, and end-user. Based on the type, the market is further classified into SLT laser, Nd: YAG laser, excimer laser, femtosecond laser, cyclodiode laser, and others. There are multiple applications for Nd: YAG lasers and is most commonly used for the treatment of posterior capsular opacification after cataract surgery. Other applications comprise the treatment of recurrent vitreous floaters and corneal erosions. Additionally, based on application, the market is further classified into cataract surgery, refractive surgery, AMD, cornea transplant surgery, glaucoma surgery, diabetic retinopathy, and others. Based on end-user, the market is further classified into hospital, clinic and ambulatory surgical center.
Geographically, the global ophthalmic lasers market is segmented into four major regions, such as North America, Europe, Asia-Pacific, and rest of the world (RoW). The crucial factor that is contributing to the demand for ophthalmic lasers in North America includes increasing cataract and glaucoma patients. Moreover, Asia-Pacific is anticipated to witness significant growth due to increasing awareness regarding ophthalmic disorders and improving healthcare infrastructure.
The major companies in the market include Carl Zeiss Meditec AG, Johnson & Johnson Service, Inc., NIDEK Co., Ltd., and Ziemer Ophthalmic Systems AG. Some key strategies adopted by these companies include merger and acquisitions, product launches and partnerships to attract a large number of customer base and expand share in the market. For instance, in April 2017, NIDEK Co., Ltd. introduced NAVEX Quest M2, an advanced vision excimer laser system. It is a unique combination of technologies, such as incorporating the Quest M2 excimer laser system, corneal topographer, and the OPD-Scan III whole eye aberrometer. In addition, this integrates the Final Fit software that provides advanced technologies, superior clinical outcomes, outstanding workmanship, and better engineering. With the incorporation of all these advanced technologies in a single platform, the NAVEX Quest M2 offers complete tools that are essential for Wavefront-guided/ Topography-guided refractive surgery and therapeutic procedures for optimizing visual outcomes. The system supports precise tracking which is highly useful for surgeons to perform laser procedure.
The market study of the global ophthalmic lasers market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.
The report is intended for government and private companies for overall market analysis and competitive analysis. The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.