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What is the Anticipated CAGR of the Ophthalmic Medical Lasers Market, and What Factors Will Drive It?

The market size of ophthalmic medical lasers has seen significant expansion in previous years. The market’s valuation is predicted to escalate from $1.26 billion in 2024 to $1.34 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%. The historic growth can be ascribed to factors such as an aging populace, the need for less invasive eye procedures, an increase in disposable incomes, heightened awareness of ophthalmic medical lasers, and a surge in instances of myopia.

The market size for ophthalmic medical lasers is projected to witness robust expansion in the coming years, reaching $1.8 billion in 2029 with a compound annual growth rate (CAGR) of 7.6%. The projected growth during the forecast period can be ascribed to the increasing prevalence of eye ailments, escalating diabetes cases, regenerative medicine, a rising emphasis on preventive eye care, and government initiatives. Key trends expected during the forecast period incorporate advancements in laser technology, the development of ophthalmic medical lasers, the integration of gene therapy and lasers, plus the incorporation of optical coherence tomography (oct).

Which Drivers Are Expected to Have the Greatest Impact on the Ophthalmic Medical Lasers Market’s Growth?

The demand for the ophthalmic medical lasers market is being fueled by the increasing prevalence of ocular disorders. These disorders, which can affect the vision and overall eye health of individuals across all age groups, can be treated with lasers which help to restructure the cornea of the eye, leading to enhanced focus and improved vision. For example, in December 2022, the Centers for Disease Control and Prevention, a government agency in the U.S., stated that about 20.5 million Americans above the age of 40 have at least one eye with a cataract, representing 17.2% of the population. It is estimated that this number will rise to approximately 30 million people by 2028. This increase in ocular diseases needing laser treatment is contributing to the growth of the ophthalmic medical lasers market.

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Who Are the Top Companies Contributing to the Growth of the Ophthalmic Medical Lasers Market?

Major companies operating in the ophthalmic medical lasers market include 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., Johnson & Johnson Surgical Vision Inc., Lumibird Medical, Quantel Inc., Coherent Inc., Ocular Instruments Inc., Ellex Medical Lasers Limited, LENSAR LLC, LIGHTMED Corporation, Menicon Co. Ltd., Novartis AG, Omeros Corporation, Oxurion NV, Pfizer Inc., Recipharm AB, Regeneron Pharmaceuticals Inc., Roche Holding AG, Rohto Pharmaceutical Co. Ltd., Santen Pharmaceuticals, SCHWIND eye-tech-solutions GmbH & Co. KG, Staar Surgical Company, Teva Pharmaceutical Industries Ltd., ThromboGenics NV, Veeva Systems Inc.

How Are Market Trends Revolutionizing the Ophthalmic Medical Lasers Industry in Recent Times?

In the ophthalmic medical lasers market, leading firms are emphasizing the creation of groundbreaking products like Xipere to supply dependable services to their clientele. Xipere, an injected suprachoroidal corticosteroid (triamcinolone acetonide), is employed in addressing macular oedema caused by inflammation of the eye. For example, Clearside Biomedical Inc., a US biopharmaceutical industry player known for pioneering unique drug delivery methodologies for treating various eye diseases, received its first FDA endorsement for managing uveitis-induced macular oedema in January 2022. Xipere integrates triamcinolone acetonide, a corticosteroid drug aimed at treating uveitis-related macular oedema. Xipere is sterile, absence of any preservatives, and specifically formulated for suprachoroidal introduction using Clearside’s patented microinjector for the suprachoroidal space (SCS).

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What Are the Core Categories and Segments in the Ophthalmic Medical Lasers Market Driving Demand and Growth?

The ophthalmic medical lasers market covered in this report is segmented –

1) By Product: Diode Lasers, Femtosecond Lasers, Excimer Lasers Aromatherapy, ND:Yag Lasers, Other Products

2) By Application: Refractive Error Correction, Cataract Removal, Diabetic Retinopathy, Glaucoma, Age-Related Macular Degeneration, Other Applications

3) By End User: Hospitals, Specialty Clinics and Ambulatory Surgery Centres

Subsegments:

1) By Diode Lasers: Laser For Retinal Surgery, Laser For Cataract Surgery

2) By Femtosecond Lasers: Laser For Cataract Surgery, Laser For LASIK Surgery

3) By Excimer Lasers: Laser For Refractive Surgeries (LASIK, PRK), Laser For Corneal Surgery

4) By Aromatherapy: Lasers For Photodynamic Therapy, Laser For Tissue Treatment

5) By ND:YAG Lasers: Laser For Posterior Capsulotomy, Laser For Iridotomy

6) By Other Products: Laser For Glaucoma Treatment, Laser For Retinal Photocoagulation

What Are the Key Regions Powering Growth in the Ophthalmic Medical Lasers Market?

North America was the largest region in the ophthalmic medical lasers market in 2023. Asia-Pacific was the second-largest region in the ophthalmic medical lasers market report. The regions covered in the smart watch market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Are the Defining Features of the Ophthalmic Medical Lasers Market?

Ophthalmic medical lasers are used in the treatment of diseases related to the eye. These lasers offer precision and minimally invasive treatment options, enhancing patient outcomes and recovery times in various ophthalmic procedures.

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