How Will The Ophthalmic Medical Lasers Market Grow In 2022?
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The ophthalmic medical lasers market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 6%, as per The Business Research Company’s market report!
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The Ophthalmic Medical Lasers Market Size In 2022 And Forecast
The global ophthalmic medical lasers market is expected to grow from $1.04 billion in 2021 to $1.12 billion in 2022 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The ophthalmic medical lasers market is expected to grow to $1.46 billion in 2026 at a CAGR of 6.8%.
The ophthalmic medical lasers market consists of sales of ophthalmic medical lasers and related services by companies that manufacture them.
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Rise In Incidence Of Ocular Disorders Is Driving The Growth Of The Ophthalmic Medical Lasers Market
According to a publication by the World Health Organization (WHO) in October 2019, 1 billion people have lost the vision that could have been kept in check, including those with mild to extreme distance vision deficiency to blindness due to untreated refractive error (123.7 million), cataract (65.2 million), glaucoma (6.9 million), corneal distortion (4.2 million), diabetic retinopathy (3 million), and trachoma (2 million) as well as close vision loss (826 million) induced by unaddressed presbyopia. The rise in the incidence of ocular disease that requires laser treatment contributes to the growth of the ophthalmic medical lasers market.
Competitive Landscape And The Regional Analysis Of The Ophthalmic Medical Lasers Market
Major players in the ophthalmic medical lasers market are 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, and Johnson & Johnson.
Additionally, as per TBRC’s research – North America was the largest region in the ophthalmic medical lasers market in 2021 holding the largest market share and Asia Pacific was the second largest region in the forecast period.
The Ophthalmic Medical Lasers Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the ophthalmic medical lasers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the ophthalmic medical lasers market.
Alternative Therapies – A Key Trend In The Ophthalmic Medical Lasers Market
The alternatives for lasers in ophthalmology include using a lens for correcting the vision using techniques such as Phakic Intraocular Lens Implants, and Refractive Lens Exchange Surgery.
Ophthalmic Medical Lasers Market Segmentation By The Business Research Company
1) By Product: Diode Lasers, Femtosecond Lasers, Excimer Lasers Aromatherapy, ND:Yag Lasers, Other Products
2) By End User: Hospitals, Specialty Clinics and Ambulatory Surgery Centres
3) By Application: Refractive Error Correction, Cataract Removal, Diabetic Retinopathy, Glaucoma, Age-Related Macular Degeneration, Other Applications
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