The Global Excimer and Femtosecond Ophthalmic Lasers Market is expected to grow at an impressive 8.0% CAGR from 2022 to 2032. The global market reached $1.02 billion in 2021 and is expected to reach $1.18 billion by the end of 2022. By 2032, the global market is expected to be worth more than $2.41 billion USD.
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The increasing prevalence of eye diseases worldwide, as well as the increasing adoption of ophthalmic lasers, are driving growth in the global excimer and femtosecond ophthalmic lasers market. Overall sales of excimer and femtosecond ophthalmic lasers are expected to rise.
An excimer laser is a type of ultraviolet laser that is commonly used in ophthalmic surgeries. Excimer laser photorefractive keratectomy and excimer laser in-situ keratomileusis (LASIK) are two of the most common procedures that use a laser to correct refractive errors in the eye, as the excimer laser changes the refractive state of the eye by removing tissue from the anterior cornea.
On the basis of application, the refractive surgeries segment dominated the global Excimer and Femtosecond Ophthalmic Lasers Market with a total value share of nearly 69% in 2021.
Because of their safety, precision, and accuracy, excimer and femtosecond ophthalmic lasers are widely used in surgical care to treat a wide range of eye disorders. Excimer and femtosecond ophthalmic lasers have the potential to become the gold standard of eye surgery due to their appealing benefits and technological advancements.
The rising prevalence of eye disorders such as glaucoma, macular degeneration, and diabetic retinopathy, as well as an increase in the number of eye surgeries performed globally, are expected to drive the Excimer and Femtosecond Ophthalmic Lasers Market during the assessment period.
Key Takeaways
- The expansion of ophthalmology clinics and hospitals in many countries around the world is expected to drive market growth. Because of the increased number of elderly people visiting ophthalmology clinics and hospitals, as well as the large number of diabetics who have or are at risk of developing eye disease. These factors are expected to drive femtosecond and excimer ophthalmic laser market growth over the next ten years.
- The government and several other regulatory bodies are working hard to make eye care a critical component of universal health coverage and to address the growing impact of vision loss on sustainable development. This is expected to create lucrative growth prospects within the global excimer and femtosecond laser market.
- In order to provide ophthalmologists with some of the best equipment possible to efficiently perform delicate eye procedures, ophthalmic laser manufacturers are constantly improving their laser systems.
- In comparison to manual surgery, Femtosecond laser cutting is done with greater precision and accuracy. Growth in the global excimer & femtosecond ophthalmic lasers market is mainly driven by the increasing diabetic and aging population globally. This increase is resulting in a rise in the number of common ophthalmic disorders such as cataracts, glaucoma, etc.
- The surge in the prevalence of age-related macular degeneration (AMD), glaucoma, cataract, diabetic retinopathy, and presbyopia require surgical correction to restore normal vision. Therefore, the increased aging and diabetic population is a major factor expected to fuel the growth of the global Excimer and Femtosecond Ophthalmic Lasers Market over the forecast period.
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Competitive Landscape
The prominent market players in the healthcare sector are utilizing FLACS, or femtosecond laser-aided cataract surgery, as a safe and efficient therapy option for elderly patients, which is rapidly gaining ground. Hand-held surgical instruments in several procedures such as cataract fragmentation, anterior capsulotomy, and corneal incision are being drastically replaced by more efficient lasers resulting in increased accuracy and precision.
Key Companies Profiled: –
Medtronic Public Limited Company, Boston Scientific Corp, St Jude Medical LLC and Nevro Corp, Nuvectra Corporation and Stimwave, Neurosigma Inc., Synapse Biomedical Inc., Abbott Laboratories, Beijing PINS Medical Co., Ltd, Cirtec Medical Corporation, Gimer Medical, Bluewind Medical, Bioinduction, Greatbatch, Inc., Saluda Medical Pty Ltd.
Excimer and Femtosecond Ophthalmic Lasers Market Segments
Product:
- Excimer Laser
- Femtosecond Laser
Application:
- Refractive Surgery
- Cataract Surgery
- Capsulotomy
- Trabeculoplasty
- Diagnosis
End User:
- Hospitals
- Ambulatory Surgical Centers
- Ophthalmology Clinics
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More Insights into the Excimer and Femtosecond Ophthalmic Lasers Market
The U.S. is expected to dominate the global excimer and femtosecond ophthalmic lasers market as it accounted for more around 81.8% of the North American Excimer and Femtosecond Ophthalmic Lasers Market in 2021 and it is poised to grow at a robust pace during the next ten years.
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