The global excimer and femtosecond ophthalmic lasers market is experiencing a significant surge, with recent market analysis forecasting a valuation of USD 2.41 billion by 2032. This marks a remarkable increase from USD 1.02 billion in 2021, with projections indicating that the market will exceed USD 1.18 billion by the end of 2022. The market’s impressive expansion is attributed to the rising incidence of eye diseases worldwide and the growing adoption of advanced ophthalmic laser technologies, leading to a projected Compound Annual Growth Rate (CAGR) of 8.0% from 2022 to 2032.
Key insights reveal that refractive surgeries represent the dominant application segment within the global excimer and femtosecond ophthalmic lasers market, commanding nearly 69% of the total value share in 2021. These surgeries leverage excimer lasers, a type of ultraviolet laser widely utilized in ophthalmic procedures. Excimer lasers play a critical role in procedures such as excimer laser photorefractive keratectomy and excimer laser in-situ keratomileusis (LASIK), effectively correcting refractive errors by altering the refractive state of the eye through tissue removal from the anterior cornea.
“The Excimer and Femtosecond Ophthalmic Lasers Market is witnessing a paradigm shift driven by technological advancements and increasing patient demand for precise, minimally invasive eye treatments,” stated a representative from FMI. “As the market continues to evolve, are poised to capitalize on emerging opportunities and innovations, thereby revolutionizing eye care globally.”
Key Trends Driving Market Growth:
- Expanding Access to Eye Care:
- An increase in ophthalmology clinics and hospitals caters to the growing elderly population and individuals with diabetes at risk of eye problems.
- Government initiatives promoting eye care as part of healthcare coverage further fuel market growth.
- Technological Advancements:
- Continuous improvements in laser systems enhance performance in delicate eye surgeries.
- Femtosecond lasers offer higher precision, accuracy, safety, and flexibility compared to traditional techniques.
- Rising Adoption of Bladeless LASIK:
- The combination of excimer and femtosecond lasers for LASIK reduces risks associated with manual procedures.
- Growing patent activity in femtosecond technology suggests an increase in market players.
- Success of Laser Eye Surgeries:
- High success rates and safety features of LASIK, PRK, and LASEK surgeries create significant potential for market growth.
Key Companies in the Market:
The market features key players such as Medtronic Public Limited Company, Boston Scientific Corp, St Jude Medical LLC, Nevro Corp, Nuvectra Corporation, Stimwave, Neurosigma Inc., Synapse Biomedical Inc., Abbott Laboratories, Beijing PINS Medical Co., Ltd, Cirtec Medical Corporation, Gimer Medical, Bluewind Medical, Bioinduction, Greatbatch, Inc., and Saluda Medical Pty Ltd.
Get All the Details: Find the Complete Excimer and Femtosecond Ophthalmic Lasers Market Report
Market Segmentation:
- Product:
- Excimer Laser
- Femtosecond Laser
- Application:
- Refractive Surgery
- Cataract Surgery
- Capsulotomy
- Trabeculoplasty
- Diagnosis
- End User:
- Hospitals
- Ambulatory Surgical Centers
- Ophthalmology Clinics
- Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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