Ophthalmic Lasers Market By Top Players, Regions, Trends, Opportunity And Forecast 2015 - 2025

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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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.

Product Insights

In the product segment, femtosecond lasers held the largest revenue share in 2016. The rising number of people affected by refractive disorders along with its use during cataract surgeries has led to the growth of the market.

Rise in technological advancements, versatility, predictability, and the unique properties offered by the femtoseconds lasers has increased its demand. Thus, newer technologies are contributing to the growth of the market.

Excimer laser is a form of ultraviolet laser, which is used for the treatment of refractive errors. For instance, Carl Zeiss Meditec AG launched MEL 80 Excimer for refractive laser surgery. This devices in combination with femtosecond laser helps in correcting refractive errors. These lasers account for a considerable share owing to its increased usage in healthcare facilities.

SLT and YAG lasers are used for the treatment of anterior segment of the eye. It helps in treatment of glaucoma, retina and corneal surgery by reducing the intra ocular pressure. Ellex Medical Lasers Limited has a wide range of SLT and YAg lasers for the treatment of eye disorders. These lasers are anticipated to grow at significant rate over the forecast period.