Global Ophthalmic
Lasers Market report delivers future
development strategies, key companies, Possibility of competition, major
challenges analysis. The reports elaborate the expansion rate of the Ophthalmic
lasers market supported the highest company profile analysis. This report
providing an in-depth analysis, market size, and evaluation for the developing
segment among the Ophthalmic lasers market. Ophthalmic lasers Market report
will help you take expert decisions, recognize opportunities, plan effective
professional tactics, plan new schemes, analyse drivers and restraints and give
you a vision on the Ophthalmic lasers Market forecast.
Industry Insights
The global ophthalmic lasers market size was worth USD 1.0 billion in
2016, which is anticipated to grow at a CAGR of more than 5.9% during the
forecast period. Increase in incidence of chronic ophthalmic disorders is the
major driving factor contributing to the growth of ophthalmic lasers market.
There is a rise in prevalence of ophthalmic disorders such as glaucoma,
cataract, refractive errors, Age Related Macular Degeneration (AMD), retinal
disorders and diabetic retinopathy. According to American Academy of
Ophthalmology in 2014, 60.5 million people were estimated to be suffering from
glaucoma globally. According to WHO, glaucoma is the second major cause of
blindness in the world.
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Key Questions Answered
·
What are the sales or revenue produced
by Ophthalmic lasers products beyond all sectors during the forecast
period?
·
What are the key trends in the Ophthalmic
lasers market?
·
What are the leading drivers, limitations,
and probabilities in the industry?
·
Which segment will gain the
highest revenue worldwide and which product segment will expand at the fastest
CAGR during the forecast period?
·
In which region the Ophthalmic
lasers market to project lucrative CAGR during the forecast period?
Based on the Journal of Ophthalmology, cataract is the leading cause of
blindness in the world. According to New-Medical .Net, in 2015, 22 million
people aged 40 years and above were affected with cataract. According to
National Eye Institute, by 2050, the number of people in US with cataract is
estimated to double from 24.4 million to around 50 million. Thus, with the rise
in incidence of ophthalmic disorders the market is estimated to witness rapid
growth during the forecast period.
According to a study conducted by PLOS, in UK approximately 54% of the
people aged 40-69 years were affected by refractive error of which 27% of the
people had myopia. Refractive error is a major health issue in UK. It is a
genetic disorder, so the individuals whose parents are suffering from any form
of refractive disorder are likely to be affected by similar disorder. Thus, the
aforementioned factors are supporting the growth of the ophthalmic lasers market.
Increase in geriatric population is another key factor driving the
growth of the market. This group of population is generally affected by various
eye disorders. The most common eye disorders for this group are cataract and
hyperopia.
Application Insights
On the basis of application, refractive error corrections dominate the
market in 2016. Rising incidence of refractive errors in children and geriatric
population has contributed towards the growth of this segment. In addition, use
of femtoseconds lasers in correcting eye disorders have also contributed to the
growth of this segment.
Cataract removal is expected to witness fastest growth over the forecast
period due to the increasing number of cataract removal surgeries taking place
across the globe. Cataract is a common problem in the geriatric population
which is the leading cause of blindness, if not given proper care at the right
time.
Glaucoma is the second leading cause of blindness, if not given proper
medical attention. This has eventually contributed to the increased the demand
for SLT and YAG lasers. Lumenis introduced a product, Smart Select Duet, which
uses the combination of SLT and YAG lasers for treating glaucoma.
Retinal disease such as AMD and diabetic retinopathy are the common
problem of geriatric population. According to the American Academy of
Ophthalmology, 60% of people with diabetes develop diabetic retinopathy. The
major players are focussing on production of products which are helpful in
correcting such eye disorders. For instance, Topcon Corporation manufactured
PASCAL Synthesis System for the treatment diabetic retinopathy and AMD.
End use Insights
On the basis of the end-use, hospital held the largest market share in
2016 due to the large number of ophthalmic lasers being performed in hospitals.
The rising number of hospitals in the developing countries with the support of
the government also contributes to the growth of this segment.
Ambulatory surgical centres are expected to witness significant growth
over the forecast period. The increasing initiatives for awareness undertaken
by the government in the developing countries contributes to the growth of this
segment.
Ophthalmic clinics are expected to show fastest growth over the forecast
period. This is due to the rise in number of speciality clinics which can treat
chronic conditions and the personal care given to the patients. Absence of
trained professional who deal with the complexities arising at or during
ophthalmic lasers is expected to hinder the growth of this market.
Regional Insights
North America dominated the market in 2016 due to the rising healthcare
expenditure and development of healthcare infrastructure in the US. The rising
incidence of diabetes in America also contributes to the growth of ophthalmic
disorders which in turn is anticipated to flourish the regional market.
Europe also contributes to a significant share of the market in 2016,
due to the increase in geriatric population. Increase in ophthalmic disorders
among this population group is expected to support the regional market growth.
Asia Pacific is expected to show an attractive growth over the forecast
period due to increase in healthcare expenditure in developing countries such
as India and China. The increase in prevalence of cataract removal surgeries
boosts the market growth. Moreover, increasing awareness level among people for
prevention of blindness also contributes to the growth of this market.
Competitive Insights
Some of the major players of the market include Alcon Laboratories,
Inc., Carl Zeiss Meditec AG, Ellex Medical Lasers Limited, Abbott Medical
Optics, Inc., Bausch & Lomb Incorporated, Topcon Corporation, IRIDEX
Corporation, Lumenis, Ziemer Ophthalmic Systems AG, and NIDEK Co., Ltd.
The major strategies of the key players include mergers &
acquisitions, new product development, and regional expansions. For instance,
in 2015, Topcon Corporation redesigned Next Generation Pattern Scanning Laser
PASCAL Synthesis with an automatic table, which helps in efficiency and space
savings.
Know
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