Ophthalmic Lasers Market Report

Ophthalmic Lasers Market Analysis By Product (Diode, Femtosecond, Excimer, Nd:YAG, SLT), By Application (Glaucoma, Cataract Removal, Diabetic Retinopathy, AMD), By End-use, And Segment Forecasts, 2014 - 2025

Published: April 2017  |  90 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-810-7

Industry Insights

The global ophthalmic lasers market size was valued at over USD 1.0 billion in 2016 and is projected to witness lucrative growth over the forecast period. Rising prevalence of different types of chronic ophthalmic disorders is driving the growth of ophthalmic lasers market.

There is a growing prevalence of ophthalmic disorders such as cataract, glaucoma, refractive errors, Age-Related Macular Degeneration (AMD), diabetic retinopathy, and retinal disorders. National Center for Biotechnology Information (NCBI) stated that in 2013, the number of people suffering from glaucoma was estimated to be 64.3 million worldwide. Such huge number of people with glaucoma throughout the world has resulted in an extensive demand for these devices.

U.S. ophthalmic lasers market, by product, 2014 - 2025 (USD Million)

U.S. ophthalmic lasers market

Based on a Journal of Ophthalmology, cataract is considered as one of the major causes of visual impairment and blindness across the globe. According to News-Medical.Net, in 2015, 22 million people aged 40 years and above got affected with cataract. Cataract removal surgeries are very common among the aging population. Hence, due to the aforementioned factors, the growth of the market is anticipated to propel in the near future.

According to a study conducted by PLOS, a non-profit corporation in the UK, 54% of people were affected by refractive error. The majority of the global population including both children and adults are expected to have some kind of refractive error. Individuals with their parents suffering from refractive error are likely to get affected with the similar disorder. Thus, with such vast number of people suffering from refractive errors, the demand for ophthalmic lasers is expected to grow.

The increase in geriatric population is also driving the growth of the market. This group of population is commonly affected with various eye disorders. Most of them tend to develop cataract and hyperopia. Hence, geriatric population is considered as a lucrative target customer base for the market.

Product Insights

Among the product segment, femtosecond lasers held the largest revenue share in 2016. This is due to the rising number of people affected by refractive errors. These devices are also increasingly used during cataract surgeries. Thus, due to the aforementioned factors, this product segment generated huge revenue in the market.

Growing technological advancements in the field of femtosecond lasers for cataract and refractive error surgeries have led to huge development of these products. Thus, newer technologies are motivating this segment to contribute the immense market share.

Excimer lasers are also being highly adopted by healthcare facilities for the treatment of refractive errors. For instance, Carl Zeiss Meditec AG introduced MEL 80 Excimer for refractive laser surgery. This device in combination with femtosecond laser provides effective solution pertaining to refractive error corrections.

SLT and YAG lasers are also expected to witness significant growth over the forecast period. These products are effectively used for the treatment of glaucoma, retina, and corneal surgery. Ellex Medical Lasers Limited, one of the leaders in ophthalmic lasers industry, constitutes a broad portfolio of SLT and YAG for the treatment of such eye disorders.

Application Insights

On the basis of application, refractive error corrections dominated the market in 2016 owing to the rising prevalence of refractive errors among both children and adult population. Moreover, increase in the application of femtosecond lasers in refractive error surgeries also supported the growth of the segment.

Cataract removal segment is expected to exhibit the fastest growth over the forecast period due to the growing number of cataract removal surgeries taking place across the globe. Cataract is a common problem among the geriatric population and might lead to blindness, if not given immediate medical attention.

Glaucoma is another important application segment, which is expected to generate significant demand for some ophthalmic laser types such as SLT and YAG. Lumenis launched a product, Smart Selecta Duet, which involves a combination of both of these laser technologies and is used for glaucoma treatment.

Retinal diseases such as diabetic retinopathy and AMD are a common concern for the geriatric population. The key players are focusing on the extensive production of ophthalmic products for the treatment of such kind of disorders. For instance, Topcon Corporation manufactured PASCAL Synthesis System for the treatment of patients with diabetic retinopathy and AMD.

End-use Insights

On the basis of end-use, hospitals contributed towards the largest market share in 2016 due to the wide usage of ophthalmic lasers in hospital settings. Moreover, the rising number of hospitals in emerging countries are further supporting the growth of this segment.

Ambulatory surgical centers are anticipated to grow at a significant growth over the forecast period. This is due to the growing number of government initiatives undertaken in order to raise the awareness levels for ambulatory surgical centers in developing countries.

Ophthalmic clinics are also projected to show in growth over the forecast period due to increase in a number of specialty clinics for the treatment of chronic diseases. However, lack of availability of trained professionals for dealing with the complexities involved in the usage of ophthalmic lasers are expected to impede the market growth.

U.S. ophthalmic lasers market share, by end-use, 2016 (%)

U.S. ophthalmic lasers market

Regional Insights

In 2016, North America dominated the market owing to rising healthcare expenditure in the U.S. and the development of sophisticated healthcare infrastructure in the country. Moreover, rising prevalence of ophthalmic disorders are also expected to support the high demand for these products.

Europe also contributed towards significant shares in 2016 owing to the increasing geriatric population base in this region. Ophthalmic disorders are highly prevalent among this group of the population. As a result of these factors, Europe is expected to drive the market demand for the devices during the study period.

Asia Pacific is anticipated to show lucrative growth over the forecast period. This is due to the rising prevalence of cataract removal surgeries in the developing countries such as India. In addition, increasing awareness levels for the prevention of blindness is also motivating the high growth of the market.

Competitive Insights

Some of the major players of the market include Alcon Laboratories, Inc., Carl Zeiss Meditec AG, Ellex Medical Lasers Limited, Abbott Medical Optics, Inc., Bausch & Lomb Incorporated, Topcon Corporation, IRIDEX Corporation, Lumenis, Ziemer Ophthalmic Systems AG, and NIDEK Co., Ltd.

The major strategies of the key players include mergers & acquisitions, new product development, and regional expansions. For instance, in 2015, Topcon Corporation redesigned Next Generation Pattern Scanning Laser PASCAL Synthesis with an automatic table, which helps in efficiency and space savings.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America & MEA

Country scope

U.S., Canada, UK, Germany, Japan, India, China, Brazil, Mexico, South Africa

Report coverage        

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the ophthalmic lasers market on the basis of product, application, end-use, and region:

  • Product Outlook (Revenue, USD Million; 2014 - 2025)

    • Diode

    • Femtosecond

    • Excimer

    • Nd:YAG 

    • SLT

    • Others

  • Application Outlook (Revenue, USD Million; 2014 - 2025)

    • Glaucoma

    • Cataract Removal

    • Refractive Error Corrections

    • Diabetic Retinopathy

    • AMD

    • Others

  • End-Use Outlook (Revenue, USD Million; 2014 - 2025)

    • Hospitals

    • Ambulatory Surgical Centers

    • Ophthalmic Clinics

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

Key questions answered by the report
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