Ophthalmic lasers: Key market research findings
- Advancements in laser technology drive market growth
- Photocoagulating laser systems are the dominant shareholders in the market
- Key vendors – Alcon, Ellex Medical Lasers, Lumenis, IRIDEX, and Topcon
Technavio’s market research analysts predict the global ophthalmic lasers market to grow at a CAGR of almost 5% between 2016 and 2020. The recent advances in laser technology is the primary driving force behind growth in this market. Advances in medical technology have led healthcare facilities to opt for minimally invasive surgeries that reduces the duration of recovery, hospital stay, risks of infections, and minimizes pain and scarring. Manufacturers have developed lasers systems for correcting the vision of people with myopia and hyperopia as well as femtosecond laser systems that help treat cataracts in older people. During 2015, the Americas dominated the global ophthalmic lasers market by occupying almost 49% of the market space, with US being the major revenue generator. Concentration of prominent vendors in this region, increasing awareness about ophthalmic disorders and associated surgical treatments such as refractive laser surgeries and laser vitreolysis technology-based laser procedures, and a growing population of people aged 60 and above are some of the factors that will propel growth in the ophthalmic lasers market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the ophthalmic lasers segments based on the product.
“The increase in the popularity of femtosecond laser systems for high-precision ocular microsurgeries is the latest trend in the market. These systems help assist or replace various aspects of a manual cataract surgery such as the primary and side port surgical incisions in the cornea, the anterior capsulotomy, and the initial fragmentation of the lens. Vendors are focusing on the development of innovative femtosecond laser systems for cataract surgeries. For instance, Alcon‘s LenSx Laser system helps increase the performance of refractive cataract surgery with free-floating capsulotomies and pristine capsulotomy edges,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
The photocoagulating ophthalmic lasers segment dominated the global ophthalmic lasers market in 2015 by holding almost a 76% of the market. Photocoagulating ophthalmic lasers convert radiant energy to heat to destroy abnormal tissues during the treatment of diabetic retinopathy and age-related macular degeneration (AMD). These devices cauterize ocular blood vessels, lowering the risks of vision loss. Photocoagulating lasers can be classified into focal photocoagulation ophthalmic lasers that help treat retinal blood leakage, and scatter and pan-retinal photocoagulation ophthalmic lasers that help treat extensive retinal damage. The rising population of people aged 60 years and above globally is expected to fuel the growth of this segment further over the next four years.
The key vendors in the market include Alcon, Ellex Medical Lasers, Lumenis, IRIDEX, and Topcon. This market is intensely competitive, where the key vendors occupy the dominant positions through constant product innovations. To gain a competitive edge over others, several vendors are making investments in research activities and are using advanced technologies to manufacture innovative products. Most of the small and regional providers are forming strategic alliances with global players to gain market shares.
A more detailed analysis is available in the Technavio report, Global Ophthalmic Lasers Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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