The global excimer and femtosecond ophthalmic lasers market is poised for significant growth, with recent analyses forecasting a remarkable valuation of USD 2.41 billion by 2032. This marks a substantial increase from USD 1.02 billion in 2021, and projections suggest the market will surpass USD 1.18 billion by the end of 2022, achieving a Compound Annual Growth Rate (CAGR) of 8.0% from 2022 to 2032.
The surge in market value is primarily attributed to the rising incidence of eye diseases globally and the increasing adoption of advanced ophthalmic laser technologies. Excimer and femtosecond lasers have become indispensable tools in ophthalmology, renowned for their precision and effectiveness in treating a variety of eye conditions.
Refractive surgeries have emerged as the leading application segment within the market, capturing nearly 69% of the total market share in 2021. Procedures such as excimer laser photorefractive keratectomy and excimer laser in-situ keratomileusis (LASIK) leverage excimer lasers to correct refractive errors by precisely removing tissue from the anterior cornea, thereby altering the eye’s refractive state.
“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,” said a representative from Future Market Insights. “As the market continues to evolve, we are poised to capitalize on emerging opportunities and innovations, thereby revolutionizing eye care globally.”
The impressive growth of the global market underscores the increasing reliance on advanced laser technologies in ophthalmology, promising a future where precise, minimally invasive eye treatments become the standard of care worldwide.
Explore the Growing Demand for Excimer and Femtosecond Ophthalmic Lasers: Get All the Insights in Our Comprehensive Report!
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.
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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