Yahoo Finance Ophthalmic Medical Lasers Global Market Report 2023
Major players in the ophthalmic medical lasers market are Alcon Laboratories Inc, Abbott Medical Optics Inc, Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Topcon Corporation, Ziemer Ophthalmic Systems AG, IRIDEX Corporation, NIDEK Co Ltd, Lumenis Ltd, and Johnson & Johnson.
New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ophthalmic Medical Lasers Global Market Report 2023" - https://www.reportlinker.com/p06280900/?utm_source=GNW
The global ophthalmic medical lasers market is expected to grow from $1.04 billion in 2021 to $1.12 billion in 2022 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The ophthalmic medical lasers market is expected to grow to $1.46 billion in 2026 at a CAGR of 6.8%.
The ophthalmic medical lasers market consists of sales of instruments such as SLT laser, excimer laser, cyclodiode laser, and femtosecond laser.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Ophthalmic medical lasers are used in the treatment of diseases related to the eye.
North America was the largest region in the ophthalmic medical lasers market in 2022.Asia Pacific was the second largest region in the ophthalmic medical lasers market.
The regions covered in the ophthalmic medical lasers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main products of the ophthalmic medical lasers are diode lasers, femtosecond lasers, excimer lasers aromatherapy, ND:YAG lasers, and others.A diode laser is a semiconductor that uses a p-n junction for producing coherent radiation with the same frequency and phase which is either in the visible or infrared spectrum.
The various applications include refractive error correction, cataract removal, diabetic retinopathy, glaucoma, age-related macular degeneration, and others. The various end-users are hospitals, specialty clinics, and ambulatory surgery centres.
The rising incidence of ocular disorders is driving the demand for the ophthalmic medical lasers market.Ocular disorders are the ones that affect vision and eye health in patients of all ages and treatment with lasers helps reshape the eye cornea for better focus, which contributes to an improved vision.
According to a study by the lancet, in 2020, 43.3 million people were blind. 295 million people had moderate to severe vision impairment, 258 million had mild vision impairment. The rise in the incidence of ocular disease that requires laser treatment contributes to the growth of the ophthalmic medical lasers market.
The availability of alternative therapies for vision correction is expected to hinder the ophthalmic medical lasers market.The alternatives for lasers in ophthalmology include using a lens for correcting the vision using techniques such as Phakic Intraocular Lens Implants, and Refractive Lens Exchange Surgery.
According to the statistics by the American Society of Cataract and Refractive Surgery (ASCRS), 95% of patients who choose to have a standard IOL procedure, which is considered safe for cataract surgery, experience fully restored vision. Therefore, the availability of alternative therapies to correct vision is expected to hamper the ophthalmic medical lasers market.
Companies are investing in manufacturing devices that incorporate next-generation technology to treat ocular diseases. Following the trend, In Feb 2020, IRIDEX Corporation, an innovative ophthalmic laser-based medical products provider for the treatment of glaucoma and retinal diseases has launched the second generation of the MicroPulse P3® Device that gives greater stability, visualization, coupling, and fit.
In June 2020, Lumibird, a leading France-based laser technologies specialist acquired all of Ellex’s laser and ultrasound activities for $70 million.Through this acquisition, the Lumibird group aimed to strengthen its current product portfolio with complimentary high-quality products, and extend its geographical presence, particularly in the US and Japan, as the acquisition included Ellex’s R&D and production site in Adelaide and the commercial subsidiaries based in Australia, Japan, the US, France, and Germany.
Ellex is a leading Australia-based ophthalmic equipment manufacturer.
The countries covered in the ophthalmic medical lasers market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The ophthalmic medical lasers market research report is one of a series of new reports that provides ophthalmic medical lasers market statistics, including ophthalmic medical lasers industry global market size, regional shares, competitors with a ophthalmic medical lasers market share, detailed ophthalmic medical lasers market segments, market trends and opportunities, and any further data you may need to thrive in the ophthalmic medical lasers industry. This ophthalmic medical lasers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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