Excimer & Femtosecond Ophthalmic Lasers Market Key Players and Forecast by 2028

The excimer & femtosecond ophthalmic lasers market is expected to reach US$ 1,118.64 million by 2028 from US$ 795.68 million in 2021; it is estimated to grow at a CAGR of 5.0% during 2021 to 2028.

The laser technology is used in many medical disciplines and specialties, and it plays an important role in promoting ophthalmology advancement, especially corneal refractive surgery. Ophthalmology laser is of two types such as excimer laser, photorefractive keratectomy (PRK), laser epithelial keratomileusis (LASEK), epipolis laser in situ keratomileusis (Epi-LASIK), and transepithelial photorefractive keratectomy (Trans-PRK) and presbyopia surgery) and femtosecond laser such as femtosecond laser in situ keratomileusis (FS-LASIK), insertion of intracorneal ring segments, small-incision lenticule extraction (SMILE), and femtosecond lenticule extraction (Flex).

Report Coverage

The growth of the excimer & femtosecond ophthalmic lasers market is attributed to the factors such as a rise in elderly population, and increase in the number of cataract and refractive surgeries. However, the high cost of ophthalmology surgeries and devices hampers the growth of the market.

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Excimer & Femtosecond Ophthalmic Lasers Market: Strategic Insights

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Market Insights

Significant Rise in Elderly Population

Rise in geriatric population in countries such as the US, the UK, Canada, Japan, China, India, and South Korea is driven by the modernization of healthcare facilities and improvements in healthcare services, which boosts the life expectancy in these countries. According to the data by the WHO in February 2018, the geriatric population is estimated to rise from 12% in 2015 to 22% by 2050. According to the US Census Bureau, the number of people in the US with age 65 and above is anticipated to grow from 46 million in 2016 to more than 98 million by 2060, while their population share would grow from ~15% to ~24% during this period. As per the United Nation’s World Population Ageing 2017 report, in 2017, Europe had the world’s highest percentage (i.e., 25%) of people aged more than 60 years. Further, by 2050, all regions of the world, except Africa, would have ~25% or more of their populations aged 60 and above, and underdeveloped and developing countries would account for ~80% of this growth.

The loss of vision is a major health problem among the elderlies. Age-related macular degeneration, glaucoma, cataracts, and diabetic retinopathy are among the most common causes of vision loss among people from this age group. Age-related macular degeneration results in the loss of central vision. Optic nerve injury and visual field loss can occur as a result of primary open-angle glaucoma. As this ailment can be asymptomatic at first, elderly people need regular check-ups. Although cataracts are the common source of visual issues in these people. However, cataracts can usually be removed through surgical procedures. Diabetic retinopathy is also common among older people during the early stages of diabetes or at the time of diagnosis. A mydriatic examination is recommended when a patient is diagnosed with diabetes, followed by once a year visit thereafter.

According to the American Institute of Ophthalmology, ~24.4 million people of age below 40 undergo cataract surgery, and ~5% of all Americans undergo cataract surgery by the age of 75. Furthermore, glaucoma cases are on the rise, and the condition affects over 2.7 million Americans of age 40 and above. New eye diseases, such as age-related macular degeneration, which affects over 2.1 million Americans of age 50 and above, can cause serious vision loss. Thus there is a significantly high adoption of new technologies, such as femtosecond lasers, in cataract surgery, which involves a large upfront investment but promises improvements in patient outcomes. Thus, the rise in geriatric population fuels the growth of the excimer & femtosecond ophthalmic lasers market.

Product Type -Based Insights

Based on product type, the excimer & femtosecond ophthalmic lasers market is segmented into excimer laser and femtosecond laser. The femtosecond laser segment is expected to lead the market in 2021, and it is expected to retain its dominance during 2021–2028. In addition, the same segment is also expected to grow at the fastest rate during the coming years.

Application-Based Insights

Based on application, the excimer & femtosecond ophthalmic lasers market is segmented into refractive surgery, cataract surgery, capsulotomy, trabeculoplasty, and diagnostics. The refractive surgery segment is projected to hold the largest share of the market in 2021, whereas the cataract surgery segment is estimated to register the highest CAGR in the market during the forecast period.

End User-Based Insights

Based on end user, the excimer & femtosecond ophthalmic lasers market is segmented into hospitals, ophthalmic clinics, and ambulatory surgical centers. The hospitals segment is estimated to hold the largest share of the market in 2021. However, the ophthalmic clinics segment is estimated to register the highest CAGR in the market during the forecast period.  

 

Product launches and approvals are the commonly adopted strategies by companies to expand their global footprints and product portfolios. Companies in the excimer & femtosecond ophthalmic lasers market focus on the collaboration strategy to enlarge their clientele, which, in turn, permits them to maintain their brand name across the world.

Excimer & Femtosecond Ophthalmic Lasers

Excimer & Femtosecond Ophthalmic Lasers Market Regional Insights

The regional trends and factors influencing the Excimer & Femtosecond Ophthalmic Lasers Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Excimer & Femtosecond Ophthalmic Lasers Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Excimer & Femtosecond Ophthalmic Lasers Market Report Scope

Excimer & Femtosecond Ophthalmic Lasers Market Players Density: Understanding Its Impact on Business Dynamics

The Excimer & Femtosecond Ophthalmic Lasers Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Excimer & Femtosecond Ophthalmic Lasers Market are:

1. Bausch Health Companies Inc.
2. Alcon Inc.
3. ZEISS International
4. NIDEK CO., LTD
5. IVIS TECHNOLOGIES

Disclaimer: The companies listed above are not ranked in any particular order.

 

Excimer & Femtosecond Ophthalmic Lasers Market – by Product Type

• Femtosecond Laser
• Excimer Laser

Excimer & Femtosecond Ophthalmic Lasers Market – by Application  

• Refractive Surgery
• Cataract Surgery
• Capsulotomy
• Trabeculoplasty
• Diagnostics

Excimer & Femtosecond Ophthalmic Lasers Market – by End User    

• Hospitals
• Ophthalmic Clinics
• Ambulatory Surgical Centers

Excimer & Femtosecond Ophthalmic Lasers Market – by Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of Asia Pacific
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
• South and Central America (SCAM)
  • Brazil
  • Argentina
  • Rest of South and Central America

Company Profiles

• Bausch Health Companies Inc.
• Alcon Inc.
• ZEISS International
• NIDEK CO., LTD
• IVIS TECHNOLOGIES
• EXCELSIUS MEDICAL GMBH
• Ziemer Ophthalmic Systems
• SCHWIND EYE-TECH-SOLUTIONS
• LENSAR, Inc.
• NKT Photonics A/S