GOOG - Ophthalmic Lasers Market by Applications Types Demand New Technology – Opportunity Analysis and Forecast to 2024
The players in the ophthalmic lasers market offer products such as; femtosecond lasers, excimer lasers, nd: yag lasers, diode lasers, SLT lasers and other lasers. Among these, femtosecond lasers are expected to hold the largest share in 2017, due to increasing prevalence of refractive errors in aging and young population.
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Increasing prevalence of eye diseases, growing aging population, and rising awareness about the technologically advanced laser operations are the major factors driving the growth of the ophthalmic lasers market. According to the World Health Organization (WHO), people aged 50 years or above are more likely to be affected by moderate and severe vision impairment. Chronic eye diseases, un-operated cataract, and uncorrected refractive errors are the major cause of vision impairment.
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Increasing prevalence of cataract, rising number of hospitals, increasing government initiatives, and rising awareness about the advanced laser technologies in developing countries create ample opportunities for the market players to introduce novel ophthalmic laser therapies. According to International Diabetes Federation (IDB) report in 2016, around 80% of the world’s diabetes retinopathy patients resides in developing countries.
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North America is expected to hold the largest share of the ophthalmic lasers market in 2017, followed by the Europe. The growth in the North American ophthalmic lasers market is mainly attributed to the increasing chronic eye diseases, rising aging population, and developed healthcare reimbursement structure in the region. Asia-Pacific is expected to showcase the fastest growth in demand in the ophthalmic lasers market during the forecast period. This growth can be attributed to the increasing healthcare expenditure, growing medical tourism, and rising awareness about technologically advanced laser treatments.
Some of the other players in the ophthalmic lasers industry include, Novartis AG, Topcon Corporations, Ellex Medical Lasers Ltd, QUANTEL SA, IRIDEX Corporation, NIDEK CO Ltd., LMENIS LTD, Abbott Laboratories and Ziemer Ophthalmic Systems AG.