Ophthalmic Lasers Market - Forecast(2021 - 2026)

Report Code: HCR 0524 Report Format: PDF + Excel (Delivery in 48 Hrs)

Ophthalmic Lasers Market Overview

The ophthalmic lasers have contributed $1,178 million in the year 2020 and is projected to grow at a CAGR of 4.9 % over the forecast period of 2021-2026. Laser treatments have been used for the last three decades across the regions. Photocoagulations as a procedure is used by the ophthalmologist to shrink or destroy the abnormality in the retinal structure. Vein Occlusions, a condition in which the blood flow from the retina is blocked or damaged. Lasers can be used to treat such incidents as well. Diode laser is the most common type of laser used across the globe, owing to its energy efficiency and high output powers- the diode laser acts as a perfect machine to cure various eye-related ailments. Apart from the listed application, it is also used to treat glaucoma, refractive errors, and diabetic retinopathy. The industry is supported by hospitals and dedicated eye clinics, the latter has gained popularity amongst the patients due to exclusivity in the service offered.

Owing to technological inventions, the high number of common vision problems along various regulatory approvals, the ophthalmic laser industry is bound to grow at an optimistic pace.

Report Coverage

The report: Ophthalmic Lasers Market Forecast (2021-2026)”, by Industry ARC covers an in-depth analysis of the following segments of the Ophthalmic Lasers Market.
By Products: Diode Lasers, Femtosecond Lasers, Excimer Lasers, Nd: Yag Lasers and Others
By Application: Glaucoma, Cataract Removal, Refractive error corrections, Diabetic Retinopathy
By End Use: Hospitals, Eye Clinics, and others
By Geography- - North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (the Middle East, and Africa)

Key Takeaways

  • North America constitutes the maximum share for the year 2020, owing to the rising number of eye impairments. Diabetic Retinopathy has seen a recent surge, due to a multifold increase in diabetes.
  • Asia-Pacific regions such as China and India is poised to grow at a speed faster than North America, owing to the rising disposable income and other eye-related ailments.
  • Strengths, Weaknesses, Opportunities and Threats will be provided in the premium report.
  • A major hurdle for the industry to grow is the associated fear the population has for laser surgery.

Ophthalmic Lasers Surgery market by Geography 2020 (%)

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Ophthalmic Lasers Surgery Segment Analysis- By Application

The ophthalmic lasers surgery market is subjugated into four elements namely- Glaucoma, Cataract Removal, Refractive Error correction and Diabetic Retinopathy. Dominant demand in the year 2020 was contributed by cataract removal. A cataract is a medical condition that causes cloudy vision in the affected eyes, and if the said eye is left unattended, a patient might completely lose his eyesight. Age and inherited genes are the primary reason for developing cataracts. The cost for cataract laser surgeries has reduced multifold over the years that have been a primary driver for the ophthalmic laser industry.

The segment demand is shifting towards the use of lasers to treat diabetic retinopathy, and the segment is poised to grow at the fastest CAGR of 5.4% over the forecast period of 2021-2026. The reason for the sustained demand is the gradual increase of the diabetic population in the majority of the regions worldwide. Diabetes can cause a patient to lose his vision or see flashes of dark color. If the condition is left undiagnosed or untreated, it has the potential to cause permanent vision loss.

Ophthalmic Lasers Surgery Segment Analysis- By End Use

The ophthalmic lasers market can be distinguished into sub-categories namely- Hospitals and other Eye Clinics. The former segment, that is the Eye Hospitals dominated the market in the year 2020. The associated reason for the demand in the given segment is owing to the fact that hospitals provide better medical attention, along with qualified doctors at their disposal. By opting for government hospitals, the patient can save thousands of dollars.

The latter segment, Eye Clinics, are set to dominate the ophthalmic lasers market and grow at the swiftest CAGR of 5.3% over the forecast period of 2021-2026. The associated factor leading to the shift is primarily because of increasing eye-clinics set up across the regions. Owing to the large competition, the costs have been kept low, and the in-care facilities have ramped up from the previous decade. Owing to the rapid adoption of modern technology, the eye clinic segment will maintain an optimal growth rate.

Ophthalmic Lasers Surgery Segment Analysis- By Geography

Amongst all the regions, North America constituted the maximum share of ophthalmic lasers surgery with a share of 37.1% in the year 2020. The reason associated with the use of laser surgery is attributed to the growing cases of eye ailments that are spread across all age groups. Refractive Error correction surgeries through laser have become a trend amongst the youth, and the rising cases of diabetes are further leading to the increase in cases of diabetic retinopathy. Owing to the following considerations, the market will continue to grow.

Ophthalmic Lasers Surgery Drivers

Prevalence of eye-ailments across the age groups

An increase in the number of eye-ailments has been prevalent across regions. Owing to this, the ophthalmic lasers surgery market will get momentum. For example, Glaucoma is affecting 4 million people in the North American region. 9-12% of the blindness associated in the Unites States are owed to Glaucoma. Glaucoma is prevalently treated by the use of ophthalmic lasers hence it will act as a driver.

Decrease in costs for treatment

The average cost of a laser machine has significantly lowered down, which in turn has reduced the cost of treatment. The following reason will give the market a vital push. The average costs have been reduced effectively by up to 15% from the year 2018. It is owing to a shift in the manufacturing plants, and has, in turn, reduced the per eye cost of treatment.

Ophthalmic Lasers Surgery Market Challenges

Incessant Fear of treating eyes for surgery is affecting the patients and thus it is restraining the ophthalmic laser surgery demand

A majority of the population affected by the listed eye-ailments avoid any laser surgery, owing to the fear of losing sight of suffering from a new ailment. Patients face worries owing to their eyes being touched, and blindness which leads to fear of losing their sight. In Canada, almost 90% of adults aged who aged above 60+ who undergo cataract surgery realized that their worries about recovery from the surgery are unfounded. Laser Eye Surgery is not something that was built-in isolation in some labs and designed for inanimate objects; it was designed by and with humans well and truly in mind. And so, from the skill of the surgeon to the technology that’s used, everything is specifically created to deal with movement and any potentiality that could arise. This, in turn, is set to restrain the growth of the market

Ophthalmic Lasers Surgery Market Landscape

The companies operating in this industry use mergers, acquisitions and product launches to gain dominance. The top 10 companies for ophthalmic lasers surgery include:

  • Abbott Medical Optics, Inc.
  • Alcon Laboratories Inc.
  • Bausch & Lomb Incorporated.
  • Carl Zeiss Meditec AG.
  • Ellex Medical Lasers Limited.
  • IRIDEX Corporation.
  • Lumenis Ltd.
  • NIDEK Co. Ltd.
  • Topcon Corporation.
  • Ziemer Ophthalmic Systems AG.

Product Development

In September 2019, SCHWIND, an eye tech solution company launched a new product. The solution is known as “Atos Femtosecond Laser”, which will, in turn, give the company an edge- as it works efficiently with both Femto-LASIK and innovative lenticular extraction, and also Smart Sight Technology.

Relevant Titles

Diabetic Neuropathy Market
Report Code: HCR 0245

Ambulatory Surgery Centre
Report Code- HCR 0114

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1. Ophthalmic Lasers Market - Market Overview
    1.1 Definitions and Scope
2. Ophthalmic Lasers Market - Executive Summary
    2.1 Market Revenues and Key Trends by Company
    2.2 Key Trends by Products
    2.3 Key Trends by Application
    2.4 Key Trends by End Users
    2.5 Key Trends by Geography
3. Ophthalmic Lasers Market - Comparative Analysis
    3.1 Product Benchmarking- Key Companies
    3.2 Financial Analysis- Key Companies
    3.3 Market Share Analysis- Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Ophthalmic Lasers Market - Startup Companies Scenario
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Application Analysis
        4.1.4 Venture Capital and Funding Scenario
5. Ophthalmic Lasers Market - Industry Market Entry Scenario Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Ophthalmic Lasers Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter Five Forces Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Power of Customers
        6.3.3 Threat of New Entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of Substitutes
7. Ophthalmic Lasers Market - Strategic Analysis
    7.1 Value- Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Ophthalmic Lasers Market -By Products (Market Size- $Million/$Billion)
    8.1 Diode Lasers
    8.2 Femtosecond Lasers
    8.3 Excimer Lasers
    8.4 Nd: Yag Lasers
    8.5 Others
9. Ophthalmic Lasers Market - By End User (Market Size- $Million/$Billion)
    9.1 Hospitals
    9.2 Eye Clinics
    9.3 Others
10. Ophthalmic Lasers Market - By Application (Market Size- $Million/$Billion)
    10.1 Glaucoma
    10.2 Cataract Removal
    10.3 Refractive Error Corrections
    10.4 Diabetic Retinopathy
    10.5 Others 
11. Ophthalmic Lasers Market - By Geography (Market Size- $Million/$Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Mexico
        11.1.3 Canada
    11.2 Europe
        11.2.4 U.K.
        11.2.5 France
        11.2.6 Germany
        11.2.7 Italy
        11.2.8 Spain
        11.2.9 Russia
        11.2.10 Rest of Europe
    11.3 Asia Pacific
        11.3.11 China
        11.3.12 India
        11.3.13 Japan
        11.3.14 South Korea
        11.3.15 Australia & New Zealand
        11.3.16 Rest of Asia Pacific
    11.4 South America
        11.4.17 Brazil
        11.4.18 Argentina
        11.4.19 Rest of South America
    11.5 Rest of the World
        11.5.20 Middle East
        11.5.21 Africa
12. Ophthalmic Lasers Market Entropy
13. Ophthalmic Lasers Market - Industry/ Segment Competition Landscape Premium
    13.1 Market Share Analysis
        13.1.1 Global Market Share- Key Companies
        13.1.2 Market Share by Region- Key Companies
        13.1.3 Market Share by Country- Key Companies
        13.1.4 Best Practices for Companies
14. Ophthalmic Lasers Market - Key Company List by Country Premium (Premium)
15. Ophthalmic Lasers Market -Company Analysis
    15.1 Company Revenue, Products, M&A, Developments
    15.2 Company 1
    15.3 Company 2
    15.4 Company 3
    15.5 Company 4
    15.6 Company 5
    15.7 Company 6
    15.8 Company 7
    15.9 Company 8
    15.10 Company 9
    15.11 Company 10 and more
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