Overview of the global ophthalmic lasers market
Technavio’s market research analyst predicts the global ophthalmic lasers market to grow at a CAGR of more than 4% by 2020. One of the primary growth drivers for this market is several technological advancements in the laser technology. Manufacturers have come up with developed lasers systems for correcting the vision of people with myopia and hyperopia. Advanced diagnostic technologies such as optical coherence tomography help medical personnel to perform ophthalmic laser surgeries with utmost accuracy. Similarly, optical coherence tomography assists in analysing the quantitative progression of these diseases and assess retinal abnormalities. Such advancements have developed laser systems that generate high-efficiency beams, thereby offering high success rates and effective vision correction.
An interesting trend gaining momentum in this market is the growing popularity of femtosecond laser systems. Ophthalmologists prefer these systems for high-precision ocular microsurgeries and surgical removal of cataracts. Vendors are coming up with innovative femtosecond laser systems for efficient cataract surgeries. For instance, Alcon's LenSx Laser system helps increase the performance of refractive cataract surgery with free-floating capsulotomies and pristine capsulotomy edges, and reduces the use of laser energy by 66% and lowers intraocular pressure. The growing popularity of these devices has augmented their demand in hospitals, ambulatory surgical centers, and eye clinics across the globe.
Segmentation by product and analysis of the ophthalmic lasers market
- Photocoagulating ophthalmic lasers
- Photodisruption ophthalmic lasers
- SLT ophthalmic lasers
The photocoagulating ophthalmic lasers occupied around 75% of the total market share in 2015 and is expected to continue its dominance during the forecast period. Photocoagulation ophthalmic lasers are the most preferred devices for the treatment of retinal vascular disorders and myriad retinal conditions such as retinal tears. Rise in the aging population will boost the sales of these devices as they are more susceptible to vision deterioration such as age-related macular degeneration (AMD).
Geographical segmentation and analysis of the ophthalmic lasers market
- Americas
- APAC
- EMEA
The Americas dominated the ophthalmic lasers market in 2015 and accounted for more than 48% of the total market share. Much of this region’s growth can be attributed to the rising number of senior citizens who are more vulnerable to ophthalmic disorders. Factors such as awareness of ophthalmic conditions and associated surgical treatments such as refractive laser surgeries and laser vitreolysis technology-based laser procedures will contribute to the growth of the market in this region.
Competitive landscape and key vendors
This market is intensely competitive, where the key vendors occupy the dominant positions through constant product innovations. To gain a competitive edge over others, several vendors are making investments in research activities and are using advanced technologies to manufacture innovative products. Most of the small and regional providers are forming strategic alliances with global players to gain market shares
Key vendors in the market include -
- Alcon
- Ellex Medical Lasers
- Lumenis
- IRIDEX
- Topcon
Other prominent vendors in the ophthalmic lasers market are A.R.C. Laser, Abbott Medical Optics, Bausch & Lomb, Calmar Laser, Carl Zeiss Meditec, Meridian, Nidek, Optos, Quantel, Synergetics, and Ziemer Ophthalmic Systems.
Key questions answered in the report include
- What will the ophthalmic lasers market size and the growth rate be in 2020?
- What are the key factors driving the global ophthalmic lasers market?
- What are the key ophthalmic lasers market trends impacting the growth of the market?
- What are the challenges to market growth?
- Who are the key vendors in the global ophthalmic lasers market?
- What are the market opportunities and threats faced by the vendors in the global ophthalmic lasers market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global ophthalmic lasers market?
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