The global ophthalmic lasers market is estimated to be valued at USD 976.8 million in 2024 and is expected to experience steady growth, reaching USD 1,561.0 million by 2034. This growth reflects a compound annual growth rate (CAGR) of 4.8% during the forecast period.
The revenue generated by ophthalmic lasers in 2023 was USD 932.1 million, showcasing the growing adoption of these advanced technologies in treating various eye conditions, including cataracts, glaucoma, and refractive errors. The demand for ophthalmic lasers is driven by factors such as the increasing prevalence of vision disorders, rising awareness about eye health, and the development of more efficient and precise laser systems.
Ophthalmic disorders such as cataract, glaucoma, macular degeneration, retinal disorders are on rise across worldwide. This has led to significant inclination towards non-invasive energy based treatment options. Improvement in femtosecond lasers, SLT, or other comparative treatment modalities increases the precision and minimizes invasiveness to treatment, thus possibly superior patient outcomes.
Growing eye diseases are fueling the increased need for sophisticated ophthalmic treatments in high-income areas where healthcare access is strong. Thus, in such conditions, ophthalmic lasers have emerged as a wonderful mode of treatment, providing solutions much safer, faster, and more effective than the conventional methods, thus gaining increasing acceptance in developed countries with health systems in place.
According to the World Health Organization, about 2.2 billion people worldwide suffer from some form of impaired vision or blindness. The companies involved, particularly Alcon and Lumenis, are going to spearhead these short recovery times coupled with greatly enhanced surgical precision, the hallmarks of innovation with laser technology.
Market growth will be driven by trends toward customized care for the eye and much higher levels of laser integration into eye procedures. With these innovations, ophthalmic lasers become a daily driver in future practice, making ophthalmology solutions safer and more efficient for the next decade.
On the other hand, relatively underprivileged areas have fewer quality eye care facilities. The scarcity of trained ophthalmologists, underdeveloped infrastructure, and financial constraints compromise proper treatment.
Now, with portable and more cost-effective ophthalmic laser devices coming into the market, they are filling this gap by increasing access to eye care in underprivileged areas. The practical use of such innovative devices makes them accessible to basic or emergency eye care for remote or low-resource areas.
IAPB has launched “VISION 2030” to eliminate avoidable blindness by expanding eye-care provision in these communities. Apart from health activities, it also emphasizes the affordability of ophthalmic laser systems, particularly within far-off areas and remote territories.
Competitive Landscape
The ophthalmic lasers market is diversified by multiple active game players, and innovators, concerning the emerging demands of healthcare providers and patients. Thus, with the surging demand for more sophisticated eye care treatments, companies are focusing on the intense research and development of laser-based technologies that could be better at delivering positive patient outcomes and more efficient surgeries.
This recent competitive environment has then become their means to expand their portfolios of products and raise their market share through strategic partnerships, mergers, and acquisitions. Emerging new entrants and technological changes in the market are always shaping the market dynamics.
Recent Industry Developments in the Ophthalmic Lasers Market
- In January 2024, Iridex launches next-generation platform Iridex 532 and Iridex 577 lasers in USA market
- In January 2022, Alcon, the global leader in eye care completed the acquisition of Ivantis, Inc. The acquisition will help the company to strengthen its global ophthalmology portfolio.
Key Players of the Ophthalmic Lasers Industry
- Abbott Medical Optics, Inc.
- Alcon Inc. (Novartis AG)
- Bausch & Lomb Incorporated
- LENSAR, LLC
- NIDEK CO., LTD
- iVIS Technologies
- ZEISS International
- Ziemer Ophthalmic Systems AG
- SCHWIND eye-tech-solutions GmbH & Co. KG.
A Detailed Full Report
Key Segments of the Ophthalmic Lasers Industry
By Product:
In terms of product, the industry is divided into excimer lasers and femtosecond laser.
By Application:
In terms of Application, the industry is divided into refractive surgery, cataract surgery, posterior capsulotomy, trabeculoplasty, and diagnostic.
By End User:
In terms of End Users, the industry is divided into hospitals (500 Bedded+, 250-499 Bedded, and Less than 250), ambulatory surgical centers, and ophthalmology clinics.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East and Africa (MEA) have been covered in the report.
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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