Ophthalmic Lasers Market Research Report Forecast to 2024

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Ophthalmic Lasers Market - Global Industry Analysis, Size,
Share, Volume, Growth, Trends, and Forecast 2016 2024
As per a new research study by Transparency Market Research (TMR), the
global ophthalmic lasers market demonstrates a moderately competitive
landscape and is led by Alcon, Carl Zeiss, Lumenis Ltd., Ellex Medical Laser
Ltd., and Quantel Group. These players, however, hold only a marginal share
of this market. In 2015, they collectively accounted for a share o f nearly 35%
in the overall market.
Over the forthcoming years, the market is likely to experience intense
competition due to the entry of large pharmaceutical drugmakers into the
market for surgical devices through strategic acquisitions.
According to the research report, the opportunity in the global market for
ophthalmic lasers was worth US$0.97 bn in 2015. Rising at a CAGR of 4.60%
during the period from 2016 to 2024, the market is likely to increase to
US$1.44 bn by the end of the forecast period. Ophthalmic clinics have surfaced
as the key end users of ophthalmic lasers across the wor ld and are likely to
remain so over the coming years.
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In terms of geographies, the research report classifies the worldwide market
for ophthalmic lasers is classified into Europe, Asia Pacific, North America,
Latin America, and the Middle East and Africa. In 2016, North America led
this market with a share of more than 40%, where the presence of a large pool
of established players played the central role.
Over the next few years, with the help of the increasing research and
development activities, availability of a well-established regulatory framework
for the timely approval of the products, and the presence of a state -of-art
healthcare infrastructure, the North America market for ophthalmic lasers is
anticipated to continue its leading streak. Asia Pacific, on the other hand, is
projected to surface as the most lucrative market for ophthalmic lasers across
the world in the near future. China is expected to lead the Asia Pacific market
for ophthalmic lasers in the years to come.
The Middle East and Africa and Latin America are also expected to register
steady growth in their respective markets for ophthalmic lasers over the
forthcoming years, th anks to the remarkable rise in medical tourism and the
cost efficiency of laser eye surg eries in these regions. The Latin America
market for ophthalmic lasers is projected to be led by Mexico and Columbia
while Turkey will emerge as the key domestic market in the Middle East and
Africa over the coming years, states the research report.
“The increasing p revalence of vision impairment has the most significant
influence on demand for ophthalmic laser surgeries,” states a TMR analysts.
The incidence of partial as well as complete blindness across the world has
been augmenting substantially and is projected to double up by 2020. Cataract,
glaucoma, and diabetic retinopathy are the prime cause of blindness in humans
and timely medical in tervention can avoid these conditions. As ophthalmic
laser surgeries provide effective treatment for these conditions, their popularity
is rising substantially with the growing awareness about these surgeries among
consumers, reflecting greatly on their demand.
In addition to this, th e technological advancements in ophthalmic lasers are
likely to propel this market substantially over the next few years. However, the
absence of an appropriate reimbursement scenario in many economies,
specifically the emerging ones, may hamper the growth of this market.
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