Femtosecond Laser Segment to Dominate North America Excimer & Femtosecond Ophthalmic Lasers Market during 2020–2028
According to The Insight Partners market research study on “North America Excimer & Femtosecond Ophthalmic Lasers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Application, and End User” is expected to reach US$ 435.71 million by 2028 from 302.66 US$ million in 2021. The market is estimated to grow at a CAGR of 5.3% from 2021 to 2028. The report provides trends prevailing in the North America excimer & femtosecond ophthalmic lasers market along with the drivers and restraints pertaining to the market growth. Growing number of cataract and refractive surgeries is the major factor driving the growth of the North America excimer & femtosecond ophthalmic lasers market. However, issues associated with expensive ophthalmology surgeries and devices hinders the growth of North America excimer & femtosecond ophthalmic lasers market.
North America excimer & femtosecond ophthalmic lasers market is segmented into product type, application, end user, and country. North America excimer & femtosecond ophthalmic lasers market, based on the product type was segmented into excimer laser, and femtosecond laser. In 2021, the femtosecond laser segment held the largest share of the market. North America excimer & femtosecond ophthalmic lasers market, based on the application was segmented into refractive surgery, cataract surgery, capsulotomy, trabeculoplasty, and diagnostics. In 2021, the refractive surgery segment held the largest share of the market. Based on technique, the North America excimer & femtosecond ophthalmic lasers market is segmented into hospitals, ophthalmic clinics, and ambulatory surgical centers. The hospitals segment held the largest share of the market in 2021. Based on country, the North America excimer & femtosecond ophthalmic lasers market is segmented into US, Canada, and Mexico. US held the largest market share in 2021.
During the initial surge in the 2019 coronavirus disease (COVID-19) pandemic, healthcare systems in the US quickly adapted to reduce disease transmission and reserve capacity for the infected. Although elective and non-urgent procedures were initially required to be delayed, prolonged delays or cancellations could lead to other public health crises due to preventable and chronic diseases. The disease was increasingly becoming a cause for concern throughout the healthcare field, including the ophthalmology community. According to the National Eye Institute, more than 150 million Americans have a refractive error, the most common type of vision problem. According to NVISION Eye Centers, as of June 2018, about 9.5 million Americans had undergone the surgery. The Centers for Disease Control and Prevention (CDC) has issued mitigation plans, including a recommendation for the cancellation or reduction of elective procedures. Ophthalmologists had to seriously consider both the intensity of clinic scheduling and the issue of elective surgeries, particularly in elderly patients and those with chronic medical conditions.
During the initial surge in the COVID-19 spread, healthcare systems in the US quickly adapted to reduce disease transmission and reserve capacity for the infected. Although elective and non-urgent procedures were initially required to be delayed, prolonged delays or cancellations could lead to other public health crises due to preventable and chronic diseases. The disease was increasingly becoming a cause for concern throughout the healthcare field, including the ophthalmology community. According to the National Eye Institute, more than 150 million Americans have a refractive error, the most common type of vision problem. According to NVISION Eye Centers, as of June 2018, about 9.5 million Americans had undergone eye surgery. The Centers for Disease Control and Prevention (CDC) has issued mitigation plans, including a recommendation to cancel or reduce elective procedures. Ophthalmologists had to seriously consider both the intensity of clinic scheduling and the issue of elective surgeries, particularly in elderly patients and those with chronic medical conditions.
As ophthalmologists resumed the full spectrum of surgical practices, the medical institutes offered guidance on how the COVID-19 pandemic would affect surgical decision-making, particularly regarding the indications for preoperative testing of patients and personal protective equipment (PPE) by surgeons and personnel during surgical interventions. In general, the scientific basis for assessing the risk of SARS-CoV-2 infection in most ophthalmic surgeries is early and evolving. The observations and guidance would expand and change as science progresses. Even after the easing of the restrictions, the fear of COVID-19 infection led many patients to cancel or postpone appointments for examinations with physical visits. Refractive surgery has indeed proven to be an exception and, at this moment, appears to have benefited from a kickstart during the COVID-19 era. Laser vision correction (LVC) procedures have been put on hold, including LASIK, SMILE, and PRK. More than 17 months after the wake of the pandemic, the US refractive sector is thriving.
Alcon Inc.; Bausch Health Companies Inc.; iVIS; LENSAR, Inc.; NKT Photonics A/S; SCHWIND eye-tech-solutions; ZEISS International; and Ziemer Ophthalmic Systems are among the leading companies in the North America excimer & femtosecond ophthalmic lasers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, LENSAR, Inc. acquired the laser business unit of Bloomington, MN-based Precision Eye Services, Inc. (PES). This acquisition consolidates the Company’s customer base for more excellent optimization, efficiency, and speed to market.
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