The latest market report published by Credence Research, Inc. “Ophthalmic Lasers Market – Market Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global ophthalmic lasers market was valued at US$ 854$ Mn in 2016, and is expected to reach US$ 1520 Mn by 2025 expanding at a CAGR of 6.36 % from 2017 to 2025.
Browse the full report Global Ophthalmic Lasers Market – Market Growth, Future Prospects and Competitive Analysis, 2017 – 2025 at http://www.credenceresearch.com/report/ophthalmic-lasers-market
Ophthalmic lasers are having a huge demand in the eye care market due to factors such as better patient suitability, painless, minimal invasive surgery, and negligible chances of corneal infection after surgery, and early visual recovery. Ophthalmic lasers are further segmented into product types, namely femtosecond lasers, excimer lasers, Nd:YAG lasers, diode lasers and others; and applications refractive error correction, cataract removal, glaucoma treatment, diabetic retinopathy treatment and AMD treatment. Femtosecond lasers is leading the product segment due to enhanced safety and ease of use, lesser thermal damage to corneal tissues and regulatory approval. Additionally, excimer lasers will be the fastest growing market in the product segment throughout the forecast period due to increasing prevalence of corneal diseases, relatively cold laser technique finding diverse application in ophthalmic treatment and upgrade in its products such as faster pixel switching rates, reduced power consumption.
Refractive error correction leads the application segment due to rise in eyesight complications, aging population and high public awareness. Diabetic retinopathy treatment will register the fastest growth among the application segments due to increase in number of diabetic patients, early disease diagnosis, and government and non-government initiative to promote the treatment.
The ophthalmic lasers market is technologically driven where IRIDEX Corporation, Bausch and Lomb Incorporated, Abbott Medical Optics, Inc., NIDEK Co. Ltd., etc. are few market leaders in ophthalmic lasers market and compete to augment their foothold in the market.
Key Market Movements:
– Higher prevalence of ophthalmic diseases and aging population
– Technological advances in femtosecond and excimer laser manufacture and software
– Government and non-government initiatives to promote ophthalmic disease treatment
– Affordable reimbursement policies