Dublin, Dec. 16, 2024 (GLOBE NEWSWIRE) -- The "Ophthalmic Lasers - Market Insights, Competitive Landscape, and Market Forecast - 2030" report has been added to ResearchAndMarkets.com's offering.
The global ophthalmic laser devices market was valued at USD 1.25 billion in 2023, growing at a CAGR of 6.11% during the forecast period from 2024 to 2030, to reach USD 1.78 billion by 2030.
The rising prevalence of ophthalmic diseases such as glaucoma, diabetic retinopathy, age-related macular degeneration (AMD), and cataracts are the major drivers for the ophthalmic lasers market. Additionally, a strong preference among patients and healthcare providers for minimally invasive procedures due to their benefits, including shorter recovery times, reduced risk of complications, and less pain. Furthermore, key market players continuously investing in research and development to introduce innovative ophthalmic lasers, increased partnerships and collaborations, product launches and approvals are some of the key factors boosting the market for ophthalmic lasers, during the forecast period from 2024 to 2030.
Ophthalmic Lasers Market Dynamics:
According to the recent data and stats provided by the World Health Organization (2023), globally, at least 2.2 billion people experienced near or distance vision impairment. Of these, approximately 1 billion cases remained unaddressed. Among this group, the leading causes of distance vision impairment or blindness included cataracts, affecting 94 million people; refractive errors, impacting 88.4 million; age-related macular degeneration, which affected 8 million; glaucoma, with 7.7 million cases; and diabetic retinopathy, affected 3.9 million. Presbyopia was the primary condition causing near vision impairment, affecting 826 million people.
Thus, as the incidence of conditions like diabetic retinopathy, glaucoma, and age-related macular degeneration rises, there is a growing demand for effective, minimally invasive treatments. Ophthalmic lasers offer precise, targeted therapies that can manage these disorders more efficiently than traditional methods. For instance, laser treatments for diabetic retinopathy and retinal vein occlusions can prevent vision loss and improve outcomes. The advancement of laser technology, with innovations such as femtosecond and YAG lasers, expanded the range of treatable conditions and enhanced procedural efficacy, driving further adoption in clinical settings and hence driving the market growth of ophthalmic laser across the globe.
Additionally, the increase in product development activities across the globe is further boosting the overall market of ophthalmic lasers. For instance, in January 2024, IRIDEX Corporation, a leading provider of laser-based medical equipment, unveiled its next-generation platform featuring the IRIDEX 532 and IRIDEX 577 lasers in the United States. These advanced lasers were designed for the treatment of retinal diseases and glaucoma, offering a range of treatment modes, including continuous-wave and IRIDEX's exclusive MicroPulse technology. The platform also boasts an intuitive touchscreen interface that provided the access to various clinical control features and settings, enhancing ease of use and precision in treatment.
However, the risk of developing infection after the use of an ophthalmic laser device and stringent regulatory concerns for product approval may hinder the future market of ophthalmic lasers.
Ophthalmic Lasers Market Key Players:
Some of the key market players operating in the ophthalmic lasers market include Alcon, IRIDEX, Alna-Medicalsystem, BAUSCH + LOMB, Lumenis Be Ltd., Abbott, NIDEK, MERIDIAN, Johnson & Johnson Vision, LIGHTMED, ZEISS, Navilas Academy, Aeon Meditec, Quantel Medical, Lumibird Medical, Ziemer Ophthalmic Systems, Novartis, Lumenis, Canon Medical Systems, Optovue, and others.
Recent Developmental Activities in the Ophthalmic Lasers Market:
- In January 2024, MERIDIAN received the U.S. Food and Drug Administration (FDA) approval for their MR Q series, this product provided a high-quality and inventive healthcare solution that required the needs of patients and physicians around the world.
Key Takeaways From the Ophthalmic Lasers Market Report Study:
- Market size analysis for current ophthalmic lasers size and market forecast for 6 years (2024 to 2030)
- Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
- Key companies dominating the ophthalmic lasers market.
- Various opportunities available for the other competitors in the ophthalmic lasers market space.
- What are the top-performing segments in 2023? How these segments will perform in 2030?
- Which are the top-performing regions and countries in the current ophthalmic lasers market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for ophthalmic lasers market growth in the coming future?
Key Topics Covered:
1. Ophthalmic Lasers Market Report Introduction
1.1. Scope of the Study
1.2. Market Segmentation
1.3. Market Assumption
2. Ophthalmic Lasers Market Executive Summary
2.1. Market at Glance
3. Competitive Landscape
4. Regulatory Analysis
4.1. The United States
4.2. Europe
4.3. Japan
4.4. China
5. Ophthalmic Lasers Market Key Factors Analysis
5.1. Ophthalmic Lasers Market Drivers
5.1.1. Growing prevalence of ophthalmic diseases such as glaucoma, diabetic retinopathy, and others
5.1.2. Growing preference for minimally invasive procedures
5.1.3. Increase in product launches and approvals by key market players across the globe.
5.2. Ophthalmic Lasers Market Restraints and Challenges
5.2.1. Risk of developing infection after the use of ophthalmic lasers
5.2.2. Stringent regulatory concerns for product approval
5.3. Ophthalmic Lasers Market Opportunities
5.3.1. Integration of artificial intelligence in the field of ophthalmology lasers
6. Ophthalmic Lasers Market Porter's Five Forces Analysis
7. Ophthalmic Lasers Market Assessment
7.1. By Product Type
7.1.1. Argon blue-green laser
7.1.2. ND: YAG Laser
7.1.3. Femtosecond Lasers
7.1.4. Krypton Red lasers
7.1.5. Others
7.2. By Application
7.2.1. Glaucoma
7.2.2. Diabetic Retinopathy
7.2.3. Cataracts
7.2.4. Others
7.3. By End-User
7.3.1. Hospitals
7.3.2. Ophthalmic Clinics
7.3.3. Ambulatory Surgical Centers
7.3.4. Others
7.4. By Geography
8. Ophthalmic Lasers Market Company and Product Profiles
- Alcon
- IRIDEX
- Alna-Medicalsystem
- BAUSCH + LOMB
- Lumenis Be Ltd
- Abbott
- NIDEK
- MERIDIAN
- Johnson & Johnson Vision
- LIGHTMED
- ZEISS
- Navilas Academy
- Aeon Meditec
- Quantel Medical
- Lumibird Medical
- Ziemer Ophthalmic Systems
- Novartis
- Lumenis
- Canon Medical Systems
- Optovue
For more information about this report visit https://www.researchandmarkets.com/r/4zilye
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