Ophthalmic Lasers Market Market Trends, Share, Size and Forecast Report 2024-2032

Ophthalmic Lasers Market Valuation – 2024-2031

High prevalence of eye-related disorders including cataracts, glaucoma, and refractive errors among the world’s ageing population is the fueling the growth of the ophthalmic lasers market. According to the analyst from Market Research, the ophthalmic lasers market is estimated to reach a valuation of USD 2.64 Billion over the forecast subjugating around USD 1.64 Billion valued in 2023.

Advancements in laser technology help provide safer, more efficient, and minimally invasive treatment choices for a variety of ocular disorders, contributing considerably to the ophthalmic lasers market. This enables the market to grow at a CAGR of 6.11% from 2024 to 2031.

Ophthalmic Lasers Market: Definition/ Overview

Ophthalmic lasers are medical equipment used in eye operations and treatments. They use precision laser light to perform various corrective and therapeutic procedures on the eye. These lasers work by delivering focused light energy in a way that enables the precise cutting, removal, or reshaping of eye tissue while causing minimal damage to the surrounding areas.

Furthermore, ophthalmic lasers are used to treat refractive errors (such as LASIK surgery for vision correction), cataracts, glaucoma (by increasing aqueous outflow to lower intraocular pressure), and diabetic retinopathy (by sealing leaking blood vessels or reducing retinal swelling). They are also used to restore vision clarity following cataract surgery via posterior capsulotomy operations.

Will Rise in Ocular Diseases Lead to the Expansion of Global Ophthalmic Lasers Market?

The increasing global prevalence of ocular illnesses such as cataracts, glaucoma, refractive errors, and age-related macular degeneration (AMD) is driving demand for ophthalmic lasers. These disorders frequently necessitate laser surgery for treatment, thereby, contributing to the growth of the ophthalmic lasers market.

Continuous advances in laser technology have increased the efficacy, safety, and affordability of ocular laser therapies. Femtosecond lasers and selective laser trabeculoplasty (SLT) have increased the precision and minimal invasiveness of ophthalmic laser surgery procedures. This has resulted in greater acceptance and desire for laser-based operations among ophthalmologists and patients.

Furthermore, patients are increasingly preferring minimally invasive surgeries due to benefits such as faster recovery times, less pain, and a lower chance of problems. Ophthalmic lasers play a critical role in enabling these less invasive procedures, increasing their use in eye care and, as a result, supporting market growth.

How will Concerns Surrounding  Regular Maintenance Impact Ophthalmic Lasers Market?

Ophthalmic lasers are a considerable investment for healthcare providers, as the costs include not only the purchase but also maintenance, training, and other safety precautions. This high cost restricts access, particularly in low- and middle-income nations or rural areas with limited healthcare budgets. Smaller clinics and hospitals could find the required expenditure prohibitive, thus limiting the use of laser technology and its advantages to patients.

Furthermore, the rapid pace of innovation renders existing laser equipment obsolete more quickly, requiring healthcare providers to invest in cutting-edge technologies to deliver the best patient care. This quick obsolescence is resulting in considerable cost pressures and necessitating a continuous learning curve for medical practitioners to understand new technologies.

Category-Wise Acumens

How is the Demand for Femtosecond Lasers Evolving across the Market?

According to analysis, the femtosecond laser segment is estimated to grow at the highest CAGR in the product type segment during the forecast period. Femtosecond lasers are extremely precise and controllable, considerably lowering the chance of tissue injury beyond the targeted area. This precision is essential for delicate eye treatments including cataract removal, corneal transplants, and the development of corneal flaps in LASIK surgery. The ability to generate very exact and consistent incisions improves surgical outcomes, increases patient safety, and lowers complications, making femtosecond lasers a popular choice among ophthalmologists.

Femtosecond lasers are versatile and can be utilized for a variety of ophthalmic operations. This versatility broadens their applicability beyond specific therapies, making them an invaluable asset in any ophthalmic practice. From refractive surgery and cataract extraction to corneal grafting and glaucoma therapy, femtosecond lasers’ capacity to adapt to a variety of surgical needs drives its popularity and market supremacy.

Furthermore, there is an increasing patient demand for less invasive operations with shorter recovery times and better outcomes. Femtosecond lasers meet these expectations, which encourages patients and doctors to choose this technology over traditional surgical approaches or other lasers.

How does Cataract Removal Contribute in the Growth of the Market?

The cataract removal segment is estimated to dominate the ophthalmic lasers market during the forecast period. Cataracts are the most common cause of blindness worldwide, particularly among the older population. As life expectancy climbs, so does the number of people who are at risk of cataracts, driving up demand for cataract surgery. The World Health Organisation (WHO) has classified cataract as a major public health concern, emphasizing the need for effective treatment alternatives such as ophthalmic lasers to improve the quality of life for millions of people.

Ophthalmic laser technology has advanced tremendously, improving the safety, accuracy, and outcomes of cataract surgery. Laser-assisted in situ keratomileusis (LASIK) and photorefractive keratectomy (PRK) procedures have improved in reliability and efficiency, resulting in increased success rates and patient satisfaction. These advancements have made laser-based therapies more appealing to doctors and patients, hence driving the cataract removal market.

Furthermore, there has been a huge increase in understanding regarding the importance of eye health and cataract treatment choices. Government initiatives and health campaigns worldwide try to educate the public about cataract risks and treatments, resulting in increased demand for procedures. Furthermore, advances in healthcare infrastructure and rising healthcare spending have made cataract removal more accessible to a larger population, fueling the growth of this market segment.

Gain Access into Ophthalmic Lasers Market Report Methodology

Country/Region-wise Acumens

How is the Rapid Advancements in North America Impacting the Market?

According to analyst, North America is estimated to dominate the ophthalmic lasers market during the forecast period. North America has a well-developed healthcare system and enormous healthcare spending, including investments in cutting-edge medical technologies and treatments. The region’s hospitals and clinics are frequently outfitted with cutting-edge ophthalmic technology, such as lasers for eye procedures, to ensure that patients receive advanced care. This investment in healthcare infrastructure promotes the acceptance and integration of innovative ophthalmic laser technologies, hence boosting market growth.

Furthermore, cataracts, glaucoma, diabetic retinopathy, and age-related macular degeneration (AMD) are common eye disorders in North America. This is largely attributable to the ageing population, as these disorders are more prevalent among older persons. As the older population expands, so does the demand for ophthalmic laser treatments, which drives the market. The increased awareness of eye health and the availability of therapies for these disorders all contribute to the growing demand for ophthalmic laser procedures.

Will High Incidences of Diabetic Retinopathy in Asia Pacific Drive the Ophthalmic Lasers Market?

Asia Pacific region is estimated to grow at the highest CAGR within the ophthalmic lasers market during the forecast period. Diabetes prevalence is increasing in the Asia Pacific region, which can be ascribed to changes in lifestyle, urbanization, and nutritional patterns. Diabetic retinopathy, a diabetes condition that affects the eyes, is becoming more widespread. Ophthalmic lasers serve an important role in the treatment of diabetic retinopathy, preserving vision. The increased incidence of diabetes and associated consequences is consequently a crucial driver of regional ophthalmic lasers market expansion.

Furthermore, many Asia Pacific countries, including Japan, China, and South Korea, have fast ageing populations. Older people are more likely to acquire ocular disorders such as cataracts, glaucoma, and age-related macular degeneration (AMD). This demographic transition is raising demand for ophthalmic laser treatments, propelling market growth as healthcare systems adapt to meet the needs of an ageing population.

Competitive Landscape

The competitive landscape of the ophthalmic lasers market is characterized by fierce rivalry and innovation, with multiple firms trying to provide innovative eye care solutions. Also, market players frequently use strategic partnerships, mergers, and acquisitions to broaden their worldwide footprint and product portfolio, thereby strengthening their market position.

Some of the prominent players operating in the ophthalmic lasers market include:

• Alcon Laboratories
• Johnson & Johnson Surgical Vision Inc.
• Bausch & Lomb Incorporated
• NIDEK Co.
• Ziemer Ophthalmic Systems AG
• Topcon Corporation
• Lumenis Ltd.
• Carl Zeiss Meditec AG
• IRIDEX Corporation
• Ellex Medical Lasers Limited
• LightMed Corporation
• SCHWIND eye-tech-solutions GmbH
• Lumibird Group
• Technolas Perfect Vision GmbH
• Transcend Medical Inc.

Latest Developments

• In February 2024, Alcon Laboratories received FDA approval for their LenSx Laser System, which corrects astigmatism during LASIK treatments. This broadens the use of the laser technology beyond normal LASIK operations.
• In February 2024, Johnson & Johnson Surgical Vision collaborated with Aerie Pharmaceuticals to create a gene therapy treatment for glaucoma that utilises J&J’s laser delivery technology. This partnership focuses on the development of novel applications for ophthalmic lasers outside typical operations.
• In February 2024, Bausch & Lomb received CE Mark clearance for its VICTORY Femtosecond Laser Platform for cataract surgery. This clearance widens the platform’s availability in Europe.

Report Scope

Ophthalmic Lasers Market, By Category

Product Type:

• Femtosecond Lasers
• Excimer Lasers
• Nd: YAG Lasers
• Diode Lasers
• Others

Application:

• Refractive Error Correction
• Cataract Removal
• Glaucoma Treatment
• Diabetic Retinopathy Treatment
• AMD Treatment
• Others

End User:

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers

Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Market Research:

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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