OPHTHALMIC LASERS MARKET ANALYSIS

Ophthalmic Lasers MarketSize and Trends

Increasing population suffering from age related macular degeneration are expected to fuel growth of the ophthalmic lasers market

According to World Health Organization (WHO), in 2014, the uncorrected refractive errors was the prominent reason for moderate and severe visual impairment, globally. Cataracts is the main cause of blindness among people in underdeveloped countries and approximately 90% of visually impaired people live in emerging countries, indicating need of ophthalmic treatments. According to an estimation by CDC, the total number of cataract patients is expected to increase to 30.1 million by 2020. 

According to Centers for Disease Control and Prevention (CDC), in 2015, around 11 million people in the U.S., aging 12 years and above, have vision impairment, which could be improved by correcting refractive errors. Moreover, around 3.3 million people in the U.S., aged 40 years and above were estimated as legally blind or with low eye functioning.

Diabetes is a major cause of retinopathy and rising awareness among the population towards solutions for visual impairment, easy procedure of the surgery, increasing government initiatives are some of the factors driving growth of the ophthalmic lasers market. According to World Health Organization (WHO), the number of people with diabetes was estimated to around 422 million in 2014 and is expected to increase in the near future.

Rapid advancement in technology is expected to drive growth of the ophthalmic lasers market

The global ophthalmic lasers market is segmented on the basis of laser type, applications, end user, and geography. New technologies like Lasik and Intra Lasik are expected to drive the growth of the market.

On the basis of laser type, the global ophthalmic lasers market is segmented into:

• Nd: YAG Laser
• Frequency Doubled Green Laser
• SLT Laser
• Excimer Laser
• Femtosecond Laser
• Cyclodiode Laser

On the basis of application, the global ophthalmic lasers market is segmented into:

• Cataracts
• Glaucoma
• Diabetic Retinopathy
• Macular Degeneration (AMD)
• Refractive Corrections

On the basis of end user, the global ophthalmic lasers market is segmented into:

• Hospitals
• Eye Clinics
• Ambulatory Surgical Centers
• Others

Regional segmentation of the ophthalmic lasers market by Coherent Market Insights comprises, North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the global ophthalmic lasers market. This is mainly owing to presence of key players such as Abbott Medical Optics and Iridek Corporation, which are focusing on research and development and availability of adequate number of ophthalmologists. Latin America is expected to witness significant growth in the market, owing to wide adoption of eye care services provided by national security system in the region. Asia Pacific is expected to witness high growth rate in the market due to major investments by companies in the region. For instance, China has invested over 100 million dollars in cataract surgeries since 2009 and continuing to invest in the near future.