High prevalence of ophthalmic disorders, rapid growth in geriatric population, technological advancements, increasing regulatory approvals for ophthalmic lasers, rising prevalence of chronic diseases such as diabetes, and increasing initiatives to control visual impairment are expected to drive the growth of the global ophthalmic lasers market in the coming years.
The Ophthalmic Lasers Market is expected to reach USD 1,245.4 Million by 2021 from USD 970.2 Million in 2016, at a CAGR of 5.1% from 2016 to 2021.
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The global ophthalmic lasers market is segmented on the basis of product types, applications, end users, and regions.
Based on product type, the ophthalmic lasers market is categorized into femtosecond lasers, excimer lasers, Nd:YAG lasers, diode lasers, and others. The femtosecond lasers segment is expected to command the largest share of the global ophthalmic lasers market, by product type and is projected to grow at the highest CAGR during the forecast period.
Based on applications, the ophthalmology lasers market is segmented into refractive error correction, cataract removal, glaucoma treatment, diabetic retinopathy treatment, AMD treatment, and other applications. In 2016, the refractive error correction segment is expected to command the largest share of the global ophthalmic lasers market.
Based on end users, the ophthalmic lasers market is segmented into hospitals and clinics & ambulatory surgery centers (ASCs). The hospitals segment is projected to command the largest share of the global ophthalmic lasers market.
Key Market Drivers:-
1 High Prevalence of Ophthalmic Disorders
2 Rapid Growth in Geriatric Population
3 Technological Advancements and Increasing Regulatory Approvals for Ophthalmic Lasers
4 Rising Prevalence of Chronic Diseases Such as Diabetes
5 Increasing Initiatives to Control Visual Impairment
Based on regions, the ophthalmology lasers market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, North America is expected to account for the largest share of the global ophthalmic lasers market.
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Key Market Players:-
Alcon Laboratories, Inc. (U.S.), Abbott Medical Optics, Inc. (U.S.), Carl Zeiss Meditec AG (Germany), Bausch & Lomb Incorporated (U.S.), Ellex Medical Lasers Limited (Australia), Topcon Corporation (Japan), Ziemer Ophthalmic Systems AG (Switzerland), IRIDEX Corporation (U.S.), NIDEK Co., Ltd. (Japan), and Lumenis Ltd. (Israel) are some of the key players in the ophthalmic lasers market.