How Has the Ophthalmic Lasers Market Size Evolved in Recent Years?
The ophthalmic lasers market has seen considerable growth due to a variety of factors.
• The market for ophthalmic lasers has seen substantial growth in recent years. It's projected to rise from a worth of $1.34 billion in 2024 to $1.43 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.8%.
The historical growth can be credited to factors such as a rise in the occurrence of eye disorders, an aging demographic, an increase in the number of refractive surgeries, heightened awareness and early detection, burgeoning healthcare facilities, and strategic partnerships in the healthcare industry.
What are the Market Size and Expected Growth Rates for the Ophthalmic Lasers Market?
The ophthalmic lasers market is expected to maintain its strong growth trajectory in upcoming years.
• A significant expansion is anticipated in the ophthalmic lasers market in the coming years, with projections indicating it will reach a size of $1.76 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 5.4%.
This growth during the forecast timeframe is expected due to factors such as the increasing geriatric populace globally, the prevalence of eye disorders linked to lifestyle, the prevalence of minimally invasive surgeries, the growing demand for aesthetic eye procedures, the trend towards customized and personalized treatments, and collaborations in research and development. Looking ahead, key trends likely to shape this market include advancements in photocoagulation techniques, an increased focus on pediatric ophthalmic procedures, the advent of portable and handheld lasers, improvements in visualization technologies, a swift expansion in the refractive surgery market, and continued partnerships in research and development.
Which Key Drivers Are Propelling The Ophthalmic Lasers Market's Growth?
The increasing occurrence of eye diseases is anticipated to fuel the growth of the market for ophthalmic lasers. Illnesses or conditions perturbing the tissues and other components of the eyes cause various symptoms and may lead to potential vision loss. Primary factors contributing to the surge in demand for ophthalmic lasers, which are used for specific and targeted applications within the eye, include the growing cases of eye conditions such as glaucoma and diabetic retinopathy. The Centers for Disease Control and Prevention reported in November 2022 that over 3 million Americans suffered from glaucoma, and this figure is projected to rise to 6.3 million by 2050. Therefore, the growth of the ophthalmic laser market is likely to be driven by the increasing rate of eye diseases and glaucoma. The growth of healthcare expenditures is also another factor that is poised to accelerate the growth of the ophthalmic lasers market. The term 'healthcare expenditure' refers to the funds allocated to healthcare services, including their administration, public health activities, and medical goods and services. Factors that drive the growth of healthcare expenditure include aging populations, advancements in medical technology, increasing prices of pharmaceuticals, and a higher prevalence of chronic diseases. Such expenditure aids the ophthalmic laser industry by making it possible to invest more in sophisticated laser technologies and extending the availability of precision eye care treatments to a larger patient base. According to an article published in June 2024 by Health Affairs, a US-based scholarly journal, the national healthcare expenditure in the U.S. will augment from $4,799.3 billion in 2023 to $5,048.8 billion in 2024 — a jump of approximately $249.5 billion. Therefore, the upward trend in healthcare expenditure can be seen as a driver for the growth of the ophthalmic laser market.
What Are The Key Segments Within The Global Ophthalmic Lasers Market?
The ophthalmic lasers market covered in this report is segmented –
1) By Product Type: Femtosecond Lasers, Excimer Lasers, Neodymium-Doped Yttrium Aluminum Garnet (Nd:YAG) Laser, Diode Lasers, Other Products
2) By Application: Refractive Errors Treatment, Cataract Treatment, Glaucoma Treatment, Diabetic Retinopathy Treatment, Age-Related Macular Degeneration (AMD) Treatment, Other Applications
3) By End-User: Hospitals, Ambulatory Service Centers, Ophthalmic Clinics
Subsegments:
1) By Femtosecond Lasers: Laser Systems For Cataract Surgery, Laser Systems For Refractive Surgery, Laser Systems For Corneal Flap Creation
2) By Excimer Lasers: LASIK Laser Systems, PRK (Photorefractive Keratectomy) Laser Systems, Corneal Reshaping Systems
3) By Neodymium-Doped Yttrium Aluminum Garnet (Nd) Laser: Nd Laser Systems For Capsulotomy, Nd Laser Systems For Retinal Disorders, Nd Laser Systems For Glaucoma Treatment
4) By Diode Lasers: Diode Laser Systems For Retinal Photocoagulation, Diode Laser Systems For Glaucoma Treatment, Diode Laser Systems For Pterygium Surgery
5) By Other Products: Argon Lasers, KTP Lasers (Potassium Titanyl Phosphate), Holmium Lasers
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How Are New Trends Impacting The Size Of The Ophthalmic Lasers Market?
Leading firms in the ophthalmic laser market are concentrating their efforts on creating advanced laser technologies, such as the Capsulo Nd:YAG laser device, aiming at improving vision correction processes and enhancing their market position. The Capsulo Nd:YAG laser stands as a highly versatile, user-friendly, and effectively integrated laser platform, allowing for precise and efficient capsulotomy and iridotomy procedures. For instance, in April 2022, Lumibird Medical Nordics AB, a medical equipment manufacturing company based in France, introduced the Capsulo Nd:YAG laser device. This device is constructed with superior quality optics, providing unparalleled view clarity into the anterior and posterior eye segments, coupled with advanced variable-height light tower illumination offering dual illumination angles of 16° and 7.5° for anterior and posterior laser applications in capsulotomy and iridotomy therapies.
Who Are the Key Players In The Ophthalmic Lasers Market?
Major companies operating in the ophthalmic lasers market report are:
• Abbott Laboratories
• Alcon Laboratories Inc.
• Bausch & Lomb Incorporated
• Coherent Inc.
• Carl Zeiss Meditec AG
• Topcon Corporation
• Lumenis Ltd.
• Johnson & Johnson Surgical Vision Inc.
• LUMIBIRD
• Optos PLC
• Lutronic Corporation
• Quantel Medical SAS
• NIDEK CO. Ltd.
• IRIDEX Corporation
• Ellex Inc.
• Technolas Perfect Vision GmbH
• LENSAR LLC
• Lightmed GmbH
• Ziemer Ophthalmic Systems AG
• Ocular Instruments
• SCHWIND eye-tech-solutions GmbH & Co. KG
• NoIR Laser Company LLC
• ASICO LLC.
• DEKA Laser
• AcuFocus Inc.
• A.R.C. Laser GmbH
• ATL Lasertechnik GmbH
• Norlase
• Alna-Medicalsystem GmbH
• Luxium Solutions LLC
What Are The Regional Insights Into The Ophthalmic Lasers Market?
North America was the largest region in the ophthalmic lasers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ophthalmic lasers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
