Ophthalmic Laser Market Size, Share Global Analysis Report, 2024 – 2032

Industry Insights

[220+ Pages Report] According to Facts and Factors, the global ophthalmic laser market size was valued at USD 1,358.79 million in 2023 and is predicted to surpass USD 2,126.07 million by the end of 2032. The ophthalmic laser industry is expected to grow by a CAGR of 5.76% between 2024 to 2032.

Market Overview

Ophthalmic lasers refer to the medical devices that are used for the diagnosis of eye-related issues. Ophthalmic lasers are widely used to treat various eye disorders like glaucoma, cataracts, refractive errors, diabetic retinopathy, and renal disorders. Ophthalmic lasers offer many advantages to patients, such as fast recovery time and improved outcomes.

Furthermore, it is a minimally invasive procedure, and therefore, it is in high demand in the global market. However, the choice of the kind of laser to be used on one patient entirely depends upon the particular eye condition and the desired outcome.

Key Insights

• As per the analysis shared by our research analyst, the global ophthalmic laser market size is estimated to grow annually at a CAGR of around 5.76% over the forecast period (2024-2032).
• In terms of revenue, the global ophthalmic laser market size was valued at around USD 1,358.79 million in 2023 and is projected to reach USD 2,126.07 million by 2032.
• The growing prevalence of eye disorders is driving the growth of the global ophthalmic laser market.
• Based on the end-users, the hospital segment is growing at a high rate and is projected to dominate the global market.
• Based on the applications, the glaucoma surgery segment is projected to swipe the largest market share.
• Based on the product, the Nd: YAG lasers segment is projected to witness a high CAGR during the forecast period.
• Based on region, North America is expected to dominate the global market during the forecast period.

Growth Drivers

• Growing prevalence of eye disorders is driving the growth of the global market.

The rising incidences of eye disorders like renal diseases, glaucoma, and cataracts are posing a high demand for ophthalmic laser treatment. Continuous innovation in laser technology enhances the effectiveness, safety, and precision of treatment.

These advancements are likely to gain traction in the market among consumers in the coming years. Furthermore, the growing aging population is another major factor propelling the growth of the global ophthalmic laser market.

For instance, Lumenis Ltd. collaborated with Advent Health Nicholson Center in March 2021. This collaboration aims to emerge as a center of excellence in medical training programs.

Restraints

• High cost of equipment is expected to hamper the growth of the global market.

Ophthalmic laser systems require technologically advanced machinery, which poses a high upfront cost. Therefore, it is expected to hamper the growth of the global ophthalmic laser market in the forthcoming years.

Opportunities

• Surging trend of minimally invasive procedures is expected to foster growth opportunities in the global market.

The growing preference for minimally invasive procedures among consumers is expected to widen the scope of the ophthalmic laser industry. Healthcare professionals and patients are looking forward to advanced procedures that offer a shorter recovery time with fewer side effects. However, the rising incidences of diabetes all across the globe are also contributing to the high demand for ophthalmic laser treatments in the market.

For instance, Lumibird Group came up with the Capsule Nd - YAG laser in April 2022. The device is claimed to be the most versatile laser platform offering iridotomy treatments.

Challenges

• Lack of reimbursement policies is a big challenge in the global market.

Reimbursement policies do not cover all the costs associated with ophthalmic laser procedures, which restricts people from adopting these treatments. The high cost and lack of accessibility to this treatment everywhere across the globe are also expected to slow down the growth of the ophthalmic laser industry during the forecast period.

Segmentation Analysis

The global ophthalmic laser market can be segmented into end-users, applications, products, types, and regions.

On the basis of end-users, the market can be segmented into eye clinics, ambulatory service centers, hospitals, and others. The hospital segment accounts for the largest share of the global market. Hospitals are well equipped with advanced medical facilities and equipment, which is ideal for ophthalmic laser surgeries.

Therefore, it attracts a huge customer base. Also, hospitals are a primary point of contact for any eye problems, including ophthalmic eye conditions, which in turn is another major reason for the high growth of the segment. Hospitals offer a multidisciplinary approach. Additionally, hospitals hold a team of experts, including diagnostics professionals, which makes treatment easier for the patients.

On the basis of application, the market can be segmented into glaucoma surgery, cataract surgery, refractive error, and others. The glaucoma surgery segment is poised to witness significant developments in the coming years. Glaucoma surgery is minimally invasive in nature and is an ideal alternative to traditional eye surgeries. These aim to lower the intraocular pressure, which facilitates minimum trauma to the eyes. The emerging laser technologies like laser peripheral iridotomy and trabeculoplasty are expected to favor the growth of the segment in glaucoma management.

Furthermore, innovations and advancements in implantable devices like microstates and drainage implants also foster developments in the segment. The introduction of AI applications in glaucoma management is also likely to widen the scope of the segment during the forecast period. Research in gene therapy is a major factor expected to pave the path for several new growth opportunities in the segment.

On the basis of product, the market can be segmented into diode lasers, Nd: YAG lasers, excimer lasers, femtosecond lasers, and others. Nd: YAG lasers are the fastest-growing segment in the ophthalmic laser industry during the anticipated period. Nd: YAG is the acronym for Neodymium-doped Yttrium Aluminum Garnet. These are versatile lasers that assist healthcare professionals in posterior capsulotomy.

These lasers are widely used in the treatment of narrow-angle glaucoma. Also, these lasers offer enhanced safety for many ophthalmic applications, which in turn is also likely to foster growth opportunities in the segment during the anticipated period.

On the basis of type, the market can be segmented into photocoagulation lasers, selective laser trabeculoplasty, photocoagulation lasers, and others. The photocoagulation lasers segment is expected to swipe the largest market share of the global ophthalmic laser market during the forecast period. The rising incidences of retinal diseases like diabetic retinopathy and age degenerative eye disorder are a major reason for the high growth rate of the segment.

Photocoagulation is an effective treatment for many retinal conditions. It is an ideal method and is gaining immense popularity among patients and healthcare professionals. Also, the growing incidences of diabetes are demanding photocoagulation laser technology for safety, applicability, and effectiveness.

Report Scope

Regional Analysis

• North America to dominate the global market.

North America accounts for the largest share of the global ophthalmic laser market during the forecast period. The increasing adoption of technology is the major reason for the high growth rate of the regional market. Also, the increasing incidences of eye-associated problems like macular generation and cataracts are contributing to the growth of the regional market during the forecast period.

Also, the increasing aging population in the region is posing a high demand for ophthalmic laser procedures. The surging preferences for minimally invasive procedures are also boosting the demand for laser-based treatment for retinal disorders, which in turn will also positively impact the growth trajectory of the regional market.

Moreover, the reimbursement policies are also anticipated to help the regional market to grow rapidly in the coming years. Reimbursement policies cover the patient’s access to these procedures, which promotes the adoption of ophthalmic laser technologies.

Asia Pacific is also likely to grow significantly during the forecast period. Several countries in the region are expected to see increased healthcare spending which is a major reason for the high growth rate of the region.

Moreover, economic growth, a higher urbanization rate, and an increasing aging population are some of the factors accentuating the growth of the regional market. The high prevalence of diabetes is another major factor boosting the growth of the regional market. Diabetes is a critical disorder that causes diabetic retinopathy, and the only minimally invasive path to this is ophthalmic laser treatment.

Furthermore, the ongoing technological advancements also support the growth trajectory of the regional market, and the growing adoption rate of the latest laser system for eye disorders like retina diseases or refractive disorders is also likely to positively impact the growth of the regional market. Government initiatives and healthcare policy are also positively shaping the ophthalmic laser market in the region.

For instance, Iridex Corporation unveiled its agreement with Topcon Corporation in March 2021. The major aim of this collaboration is to assist companies to expand its distribution network in the APAC region.

Competitive Analysis

The key players in the global ophthalmic laser market include:

• Ziemer Ophthalmic Systems AG
• Topcon Corporation
• Novartis International AG
• NIDEK CO. LTD
• Lumibird Group
• Lumenis Be Ltd.
• LightMed Corporation
• JOHNSON & JOHNSON
• Iridex Corporation
• Carl-Zeiss-Stiftung

For instance, NIDEK CO. said to come up with the Mirante SLO model in November 2020 to extend the portfolio of the company under the umbrella of diagnostic multimodal imaging devices.

The global ophthalmic laser market is segmented as follows:

By End-Users Segment Analysis

• Eye Clinics
• Ambulatory Service Centers
• Hospitals
• Others

By Applications Segment Analysis

• Glaucoma Surgery
• Cataract Surgery
• Refractive Error
• Others

By Products Segment Analysis

• Diode Lasers
• Nd: YAG Lasers
• Excimer Lasers
• Femtosecond Lasers
• Others

By Types Segment Analysis

• Photocoagulation Lasers
• Selective Laser Trabeculoplasty
• Photocoagulation Lasers
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America