Major key market players operating in the global ophthalmic laser market include: Carl Zeiss Meditec AG, Topcon Corporation, Nidek Co. Ltd, Qauntel Medical, Alcon, Iridex Corportaion, Lumenis, Aurolab, Katalyst Surgical, OD-OS GmbH

Pune, India, Nov. 26, 2021 (GLOBE NEWSWIRE) -- The global ophthalmic lasers market was valued at USD 1,947.8 million in 2020 and grows at a CAGR of 1.6% during the forecast period, according to a recent report by Quince Market Insights. Common ophthalmic disorders include refractive errors, age-related macular degeneration, cataracts, diabetic retinopathy, glaucoma, amblyopia, and strabismus. According to a world report on vision 2019 by the World Health Organization (WHO), 2,200 million people suffer from vision impairment or blindness globally. The number is expected to increase drastically during the forecast period due to urbanization and changing lifestyles. Other significant factors like smoking, nutrient deficiency, near-sight activity work, and sports injuries contribute to the development of ophthalmic disorders. Moreover, certain health conditions like diabetes, multiple sclerosis, pre-term birth, and rheumatoid arthritis can lead to ocular manifestations. Genetics also play role in the development of glaucoma, refractive error, and retinal degenerations.

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Diabetic retinopathy cases are expected to increase significantly during the forecast period due to rising cases of high hemoglobin, diabetes, and high blood pressure. Environmental conditions also considerably contribute to the high cases of ophthalmic diseases like myopia which is caused due to intensive near vision activities. Refractive errors, cataracts, droopy eyelid, and strabismus can also cause amblyopia which occurs in children aged between 6 and 9.

Aging is a primary risk factor for eye diseases. According to a world population aging 2019 report by the United Nations (UN), about 698 million people aged 65 and above. And the number is expected to reach over 1,500 million by 2050. However, the current COVID-19 pandemic situation can affect the population figures which are uncertain. With increasing age, the prevalence of cataracts, glaucoma, presbyopia, and age-related macular degeneration sharply increases. Chronic disease like diabetes is common among the geriatric population which can contribute to retinopathy cases. According to the WHO, diabetes is a major cause of blindness and its prevalence has been rising rapidly in developing countries than developed countries. Cataract is another common disease among the geriatric population, which also contributes to rising demand for ophthalmic surgeries.

The ophthalmic laser market is segmented based on application, product type, end user, and region.

Global Ophthalmic Lasers Market, by Product type

Based on product type, the global ophthalmic lasers market is segmented as femtosecond lasers, excimer lasers, ND: Yag lasers, diode lasers, and others. The ND: Yag lasers segment is the fastest growing segment during the forecast period. The Nd: Yag laser refers to neodymium-doped yttrium-aluminum garnet lasers. They are mainly used in treating glaucoma and cataract. Diabetic macular edema, proliferative diabetic retinopathy, vein occlusion are other diseases treated using Nd: Yag lasers.

The most common application of this laser is photocoagulation, in which the laser beam is absorbed by the target tissue, which results in a rise of temperature that causes protein denaturation, also known as photothermal interaction. The ability of the laser to give more regular spots on the retina with less duration is expected to contribute to the Nd: Yag lasers segment growth.

Global Ophthalmic Lasers Market, by Application

Based on application, the global ophthalmic lasers market is segmented as cataract removal, glaucoma treatment, diabetic retinopathy treatment, AMD treatment, refractive error correction, and others. The cataract removal segment is expected to be the fastest-growing segment in the global ophthalmic laser market during the forecast period. The factors contributing to the cataract removal segment growth during the forecast period include growing number of cataract-removal surgeries across the globe. Cataract is a common problem among the geriatric population and it might lead to blindness if not provided with immediate medical attention.

Femtosecond lasers are utilized in the cataract cure that uses extremely high peak power densities to accurately disrupt tissue with minimal thermal damage to the surrounding area. Such advantages associated with ophthalmic lasers are estimated to augment the demand for femtosecond lasers in cataract removal. According to the World Health Organization (WHO), currently around 94 million people worldwide have impaired visual impairment due to cataracts, with a vision of 3/60 or less.

Global Ophthalmic Lasers Market, by End User

Based on end users, the global ophthalmic lasers market is segmented as hospitals, clinics, and ambulatory service centers. The clinics segment is expected to be the fastest-growing segment in the global ophthalmic laser market during the forecast period. The eye surgery clinics industry has developed due to the introduction of new technologies that have resulted in improved patient outcomes for corrective eye surgery.

Improving patient mobility through the eye programs include making the patient's path easier by making the best use of time and money at the eye clinic. It entails eliminating unnecessary measures and procedures to provide efficient and friendly service. Eye clinics offer the best services to patients and advise on corrective treatment for eye surgeries; as a result of these factors, the clinic segment is expected to grow at a significant rate during the forecasting year.

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Global Ophthalmic Lasers Market, by Region

Based on the region, the ophthalmic lasers market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America. Europe is expected to be the fastest growing region in the ophthalmic lasers market during the forecast period. The demand for ophthalmic lasers in Europe is driven by increasing ophthalmic disorders, such as cataracts, glaucoma, age-related macular degeneration (AMD), diabetic eye disease (DED), and retinal vein occlusions (RVO).

According to data provided by the European Society of Retina Specialists, in 2017, around 34 million people in the European Union (EU) and 22 million people in the five most populous European countries alone: Germany, France, the U.K., Italy, and Spain were affected by age-related macular degeneration (AMD). Due to this, the demand for ophthalmic lasers is increasing in this region.

Some Noted Developments Considered in the Report:

• September 2020- Aquariuz, a new lightweight solid-state ablation laser for refractive surgery from Ziemer Ophthalmic Systems, has achieved CE Mark clearance. The ablation laser, based on the most recent technical advancements, works at wavelengths that are less absorbed by water molecules. This allows the ablation process to be substantially less influenced by temperature or humidity in the OR, resulting in more stable surgical outcomes.

• April 2020- The Company has developed a Navigate App for retinal laser treatment. The application is a free and interactive tool for ophthalmologists and the education team in online and offline mode. The application helps doctors to develop laser treatment strategies based on diagnostic images.

• July 2019- Johnson & Johnson Vision company launched a surgical vision experience center at Johnson & Johnson Institute in Jacksonville, FL. The center offers laboratory settings and physical training for ophthalmic surgeons, optometrists and ophthalmology residents.

• June 2018 - Quantel Medical opened a Polish subsidiary Quantel Medical Polska. The Quantel Medical Company had commercialized the total range of ultrasound, laser, and dry eye diagnostics products.

COVID-19 Impact on the Market

The QMI team has closely monitored the impact of COVID-19 on the global ophthalmic laser market and has observed the heavy impact of COVID-19 outbreak. The coronavirus outbreak in 2019 resulted in unprecedented strict lockdowns with restrictions on operational activities globally. The Centers for Medicare & Medicaid Services (CMS) proposed cancelling elective surgery in March 2020 as part of a nationwide response that included self-isolation and social distancing to help reduce viral transmission to communities across the United States. Soon after, on March 18, 2020, the American Academy of Ophthalmology (AAO) issued practice guidelines urging ophthalmologists to discontinue all treatment except for urgent and emergent care.

The COVID-19 pandemic had a major effect on medical care delivery in the U.S. Despite a large number of COVID-19 cases, clinics have seen a significant drop in outpatient visits and procedures, and hospitals observed a significant drop in income. While the initial wave of the pandemic seemed to be subsiding in certain parts of the world, a subsequent rise in cases suggests that COVID-19 would have a long-term impact on medical practices in the United States nation.

Major Findings of the Global Ophthalmic Laser Market Report Include:

• An in-depth global ophthalmic laser analysis by the segments, along with an analysis of trend-based insights and factors

• Profiles of the major key market players operating in the global ophthalmic laser market include: Carl Zeiss Meditec AG, Topcon Corporation, Nidek Co. Ltd, Qauntel Medical, Alcon, Iridex Corportaion, Lumenis, Aurolab, Katalyst Surgical, OD-OS GmbH, and Others.

• Competitive benchmarking, product offering details, growth strategies adopted by the leading market players, along with their major investments in the last five years

• Key impact factor analysis across regions includes analysis, along with drivers, restraints, opportunities, and challenges that are prevailing in the global ophthalmic lasers market

Browse key industry insights spread across 155 pages with 85 market data tables and 41 figures & charts from the report, “Global Ophthalmic Lasers Market, by Product Type (Femtosecond Lasers, Excimer Lasers, ND: Yag Lasers, Diode Lasers, Others), Applications (Refractive Error Correction, Cataract Removal, Diabetic Retinopathy Treatment, Glaucoma Treatment, AMD Treatment, Others), End User (Hospitals, Clinics, and Ambulatory Service Centers), Region (North America, Europe, Asia Pacific, Middle East, and Africa, South America) — Industry Trends and Forecast to 2028” in-depth analysis along with the table of contents (ToC).
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