The global ophthalmic laser market is set to experience steady growth, with sales estimated to increase from USD 976.8 million in 2024 to USD 1,561.0 million by 2034, representing a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period. The market revenue in 2023 stood at USD 932.1 million, underscoring the growing adoption of advanced ophthalmic laser technologies.
This growth is attributed to the rising prevalence of ophthalmic disorders, including cataracts, glaucoma, macular degeneration, and retinal diseases. These conditions are driving demand for non-invasive, energy-based treatment options that offer enhanced precision and reduced recovery times. Advances in laser technologies, such as femtosecond lasers and Selective Laser Trabeculoplasty (SLT), are contributing to improved patient outcomes by minimizing invasiveness and increasing treatment accuracy.
As healthcare providers and patients prioritize safe, effective, and non-invasive treatment modalities, ophthalmic lasers are becoming a cornerstone of modern ophthalmology. The increasing emphasis on early diagnosis and intervention for eye disorders further bolsters market expansion.
Full Report Revealed – https://www.futuremarketinsights.com/reports/ophthalmic-lasers-therapeutic-market
Key Takeaways:
- The global ophthalmic laser market is projected to grow from USD 976.8 million in 2024 to USD 1,561.0 million by 2034 at a CAGR of 4.8%.
- Rising incidences of eye disorders such as cataracts, glaucoma, and retinal diseases are key market drivers.
- Non-invasive laser treatments like femtosecond lasers and SLT are enhancing treatment precision and improving patient outcomes.
- Growing global awareness of the importance of early diagnosis and minimally invasive treatments is fueling market demand.
With ongoing advancements in laser technologies and increasing global demand for effective ophthalmic treatments, the ophthalmic laser market is set to play a vital role in addressing the challenges posed by rising vision disorders worldwide.
Key Market Drivers
- Increasing Prevalence of Ophthalmic Disorders: The rise in conditions such as cataracts, glaucoma, macular degeneration, and retinal disorders is driving demand for ophthalmic lasers. As these disorders become more common, the need for effective treatment options increases.
- Preference for Non-Invasive Treatments: There is a significant shift towards non-invasive energy-based treatment options, which are less traumatic for patients and often result in quicker recovery times.
- Technological Advancements: Improvements in laser technology, including femtosecond lasers and selective laser trabeculoplasty (SLT), enhance precision and minimize invasiveness, leading to better patient outcomes.
- Growing Awareness and Accessibility: Increased awareness about eye health and advancements in healthcare infrastructure are making ophthalmic treatments more accessible to a broader population.
- Rising Geriatric Population: An aging population is more susceptible to vision-related disorders, further driving the demand for ophthalmic laser treatments.
Market Insights
- The revenue generated by ophthalmic lasers in 2023 was approximately USD 932.1 million, indicating solid growth momentum leading into the forecast period.
- The market is characterized by a variety of applications including refractive error correction, cataract surgery, diabetic retinopathy treatment, and glaucoma management.
Regional Insights
- North America is expected to dominate the market due to advanced healthcare systems and high adoption rates of new technologies.
- Emerging markets in Asia-Pacific are anticipated to experience significant growth due to increasing healthcare investments and rising awareness about eye care.
Competitive Landscape
The ophthalmic lasers market is diversified by multiple active game players, and innovators, concerning the emerging demands of healthcare providers and patients. Thus, with the surging demand for more sophisticated eye care treatments, companies are focusing on the intense research and development of laser-based technologies that could be better at delivering positive patient outcomes and more efficient surgeries.
This recent competitive environment has then become their means to expand their portfolios of products and raise their market share through strategic partnerships, mergers, and acquisitions. Emerging new entrants and technological changes in the market are always shaping the market dynamics.
Recent Industry Developments in the Ophthalmic Lasers Market
- In January 2024, Iridex launches next-generation platform Iridex 532 and Iridex 577 lasers in USA market
- In January 2022, Alcon, the global leader in eye care completed the acquisition of Ivantis, Inc. The acquisition will help the company to strengthen its global ophthalmology portfolio.
Key Players of the Ophthalmic Lasers Industry
- Abbott Medical Optics, Inc.
- Alcon Inc. (Novartis AG)
- Bausch & Lomb Incorporated
- LENSAR, LLC
- NIDEK CO., LTD
- iVIS Technologies
- ZEISS International
- Ziemer Ophthalmic Systems AG
- SCHWIND eye-tech-solutions GmbH & Co. KG.
Key Segments of the Ophthalmic Lasers Industry
By Product:
In terms of product, the industry is divided into excimer lasers and femtosecond laser.
By Application:
In terms of Application, the industry is divided into refractive surgery, cataract surgery, posterior capsulotomy, trabeculoplasty, and diagnostic.
By End User:
In terms of End Users, the industry is divided into hospitals (500 Bedded+, 250-499 Bedded, and Less than 250), ambulatory surgical centers, and ophthalmology clinics.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East and Africa (MEA) have been covered in the report.
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube