Major players in the ophthalmic medical lasers market are Alcon Laboratories Inc, Abbott Medical Optics Inc, Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Topcon Corporation, Ziemer Ophthalmic Systems AG, IRIDEX Corporation, NIDEK Co Ltd, Lumenis Ltd, and Johnson & Johnson.
New York, May 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ophthalmic Medical Lasers Global Market Report 2022" - https://www.reportlinker.com/p06280900/?utm_source=GNW
The global ophthalmic medical lasers market is expected to grow from $1.04 billion in 2021 to $1.12 billion in 2022 at a compound annual growth rate (CAGR) of 7.6%. The market is expected to grow to $1.46 billion in 2026 at a compound annual growth rate (CAGR) of 6.8%.
The ophthalmic medical lasers market consists of sales of ophthalmic medical lasers and related services by companies that manufacture them. Ophthalmic medical lasers are used for the pain-free treatment of diseases related to the eyes.
The main products of the ophthalmic medical lasers are diode lasers, femtosecond lasers, excimer lasers aromatherapy, ND:YAG lasers, and others.A diode laser is a semiconductor that uses a p-n junction for producing coherent radiation with the same frequency and phase which is either in the visible or infrared spectrum.
The various applications include refractive error correction, cataract removal, diabetic retinopathy, glaucoma, age-related macular degeneration, and others. The various end-users are hospitals, specialty clinics, and ambulatory surgery centers.
North America was the largest region in the ophthalmic medical lasers market in 2021.Asia Pacific was the second largest region in the ophthalmic medical lasers market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The rising incidence of ocular disorders is driving the demand for the ophthalmic medical lasers market.Ocular disorders are the ones that affect vision and eye health in patients of all ages and treatment with lasers helps reshape the eye cornea for better focus, which contributes to an improved vision.
According to a publication by the World Health Organization (WHO) in October 2019, 1 billion people have lost the vision that could have been kept in check, including those with mild to extreme distance vision deficiency to blindness due to untreated refractive error (123.7 million), cataract (65.2 million), glaucoma (6.9 million), corneal distortion (4.2 million), diabetic retinopathy (3 million), and trachoma (2 million) as well as close vision loss (826 million) induced by unaddressed presbyopia. The rise in the incidence of ocular disease that requires laser treatment contributes to the growth of the ophthalmic medical lasers market.
The availability of alternative therapies for vision correction is expected to hinder the ophthalmic medical lasers market.The alternatives for lasers in ophthalmology include using a lens for correcting the vision using techniques such as Phakic Intraocular Lens Implants, and Refractive Lens Exchange Surgery.
According to the statistics by the American Society of Cataract and Refractive Surgery (ASCRS), 95% of patients who choose to have a standard IOL procedure, which is considered safe for cataract surgery, experience fully restored vision. Therefore, the availability of alternative therapies to correct vision is expected to hamper the ophthalmic medical lasers market.
Companies are investing in manufacturing devices that incorporate next-generation technology to treat ocular diseases.Following the trend, in October 2019, Norlase had entered the ophthalmic market with a new single spot laser called LEAF, which is an ultra-compact green laser photocoagulator.
In Feb 2020, IRIDEX Corporation, an innovative ophthalmic laser-based medical products provider for the treatment of glaucoma and retinal diseases has launched the second generation of the MicroPulse P3® Device that gives greater stability, visualization, coupling, and fit.
In June 2020, Lumibird, a leading France-based laser technologies specialist acquired all of Ellex’s laser and ultrasound activities for $70 million.Through this acquisition, the Lumibird group aimed to strengthen its current product portfolio with complimentary high-quality products, and extend its geographical presence, particularly in the US and Japan, as the acquisition included Ellex’s R&D and production site in Adelaide and the commercial subsidiaries based in Australia, Japan, the US, France, and Germany.
Ellex is a leading Australia-based ophthalmic equipment manufacturer.
The countries covered in the ophthalmic medical lasers market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06280900/?utm_source=GNW
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