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The ophthalmic medical lasers market has witnessed robust growth in recent years, with the market size reaching $1.2 billion in 2023. This growth trajectory is set to continue, projecting an increase to $1.29 billion in 2024 at a commendable compound annual growth rate (CAGR) of 7.6%. The historic period’s growth is attributed to factors such as the aging population, demand for minimally invasive eye surgeries, rising disposable incomes, increased awareness of ophthalmic medical lasers, and a surge in myopia cases.

Anticipated Strong Growth and Key Drivers
The ophthalmic medical lasers market is poised for strong growth in the coming years, reaching $1.69 billion in 2028 at a CAGR of 7.0%. The anticipated expansion is driven by factors including the continued growth in the prevalence of eye diseases, rising incidence of diabetes, advancements in regenerative medicine, a growing focus on preventive eye care, and government initiatives. Major trends in this period encompass advancements in laser technology, innovations in ophthalmic medical lasers, the intersection of gene therapy and lasers, and the integration of optical coherence tomography (OCT).

Rising Incidence of Ocular Disorders: A Market Catalyst

Driving Forces
The escalating incidence of ocular disorders is a key driver for the ophthalmic medical lasers market. Laser treatment proves instrumental in reshaping the cornea, thereby improving vision and eye health. For example, the Centers for Disease Control and Prevention reported that about 20.5 million Americans over the age of 40 have a cataract in at least one eye, and it is estimated that around 30 million people will develop cataracts by 2028.

Market Impact

• The demand for laser treatments is fueled by the rise in ocular diseases, contributing to the growth of the ophthalmic medical lasers market.
• Major companies contributing to this growth include Alcon Laboratories Inc., Abbott Medical Optics Inc., Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, and others.

Read More On The Ophthalmic Medical Lasers Market Report 2023 – https://www.thebusinessresearchcompany.com/report/ophthalmic-medical-lasers-global-market-report

Technological Advancements: Lumibird Medical’s Next-Generation ND with YAG Laser Capsulo

Advancing Ocular Disease Treatment
Innovation in manufacturing devices plays a pivotal role in the ophthalmic medical lasers market. Lumibird Medical, a France-based company, launched the Nd:YAG Laser Capsulo in April 2022. This next-generation system is designed for precise capsulotomy and iridotomy treatments, featuring high-quality optics for clear visibility into the anterior and posterior eye segments.

Strategic Acquisition: Boston Scientific Corporation Acquires Lumenis Ltd.

Portfolio Expansion and Global Reach
In September 2021, Boston Scientific Corporation, a US-based medical device and biotechnology company, acquired Lumenis Ltd., an Israel-based manufacturer of ophthalmic medical lasers. This strategic move enhances Boston Scientific’s laser portfolio, incorporating unique technologies such as MOSES™ for kidney stone management and benign prostatic hyperplasia, and expands its global reach for accelerated growth.

Market Segmentation
The ophthalmic medical lasers market is segmented based on:

1. Product:
   • Diode Lasers
   • Femtosecond Lasers
   • Excimer Lasers
   • ND:YAG Lasers
   • Other Products
2. Application:
   • Refractive Error Correction
   • Cataract Removal
   • Diabetic Retinopathy
   • Glaucoma
   • Age-Related Macular Degeneration
   • Other Applications
3. End User:
   • Hospitals
   • Specialty Clinics and Ambulatory Surgery Centers

Regional Dominance: North America Takes the Lead
North America emerged as the largest region in the global ophthalmic medical lasers market in 2023, underlining its significance in steering market dynamics.

In conclusion, the ophthalmic medical lasers market is poised for sustained growth, driven by technological innovations, rising incidences of ocular disorders, and strategic acquisitions. As advancements in laser technology and gene therapies continue to reshape the landscape, stakeholders can anticipate a future marked by improved treatments, enhanced patient outcomes, and a broader focus on preventive eye care.

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