The Global Excimer and Femtosecond Ophthalmic Lasers Market is projected to rise at a robust pace of 8.0% CAGR over the assessment years from 2022 to 2032. The global market reached US$ 1.02 Bn in 2021 and is expected to touch a valuation of US$ 1.18 Bn by the end of 2022. The global market is anticipated to exceed a valuation of US$ 2.41 Bn by 2032.
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The growth in the global excimer and femtosecond ophthalmic lasers market is attributed to the increasing prevalence of eye diseases across the world and the surging adoption of ophthalmic lasers, the overall sales of excimer and femtosecond ophthalmic lasers are projected to rise.
An excimer laser is known as a form of ultraviolet laser which is commonly utilized in ophthalmic surgeries. Excimer laser photorefractive keratectomy and excimer laser in-situ keratomileusis (LASIK) are some of the most common procedures conducted using a laser which is used to rectify refractive errors of the eye, as excimer laser alters the refractive state of the eye by removing tissue from the anterior cornea.
On the basis of application, the refractive surgeries segment dominated the global Excimer and Femtosecond Ophthalmic Lasers Market with a total value share of nearly 69% in 2021.
The excimer and femtosecond ophthalmic lasers are prominently used in surgical care for treating numerous eye disorders on account of their safe, precise, and accurate nature. Attributing to such attractive benefits and technological advancements, excimer and femtosecond ophthalmic lasers have the potential to become the gold standard of eye surgeries.
The increasing prevalence of multiple eye disorders such as glaucoma, macular degeneration, and diabetic retinopathy along with a surge in the number of eye surgeries performed worldwide is expected to bolster the growth of the Excimer and Femtosecond Ophthalmic Lasers Market during the assessment period.
- An increase in the opening of ophthalmology clinics and hospitals in many nations all over the world is expected to propel growth in the market. Due to the rise in the number of elderly people visiting ophthalmology clinics and hospitals as well as the large numbers of diabetic people who have eye disease or are at risk of developing it. These aforementioned factors are anticipated to grow femtosecond and excimer ophthalmic laser market growth during the next ten years.
- The government and several other regulatory bodies are meticulously working in order to make eye care services a crucial part of universal health coverage and address the increasing impact of vision loss on sustainable development. This is expected to create lucrative growth prospects within the global excimer and femtosecond laser market.
- In order to provide ophthalmologists with some of the best equipment possible to efficiently perform delicate eye procedures, ophthalmic laser manufacturers are constantly improving their laser systems.
- In comparison to manual surgery, Femtosecond laser cutting is done with greater precision and accuracy. Growth in the global excimer & femtosecond ophthalmic lasers market is mainly driven by the increasing diabetic and aging population globally. This increase is resulting in a rise in the number of common ophthalmic disorders such as cataracts, glaucoma, etc.
- The surge in the prevalence of age-related macular degeneration (AMD), glaucoma, cataract, diabetic retinopathy, and presbyopia require surgical correction to restore normal vision. Therefore, the increased aging and diabetic population is a major factor expected to fuel the growth of the global Excimer and Femtosecond Ophthalmic Lasers Market over the forecast period.
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The prominent market players in the healthcare sector are utilizing FLACS, or femtosecond laser-aided cataract surgery, as a safe and efficient therapy option for elderly patients, which is rapidly gaining ground. Hand-held surgical instruments in several procedures such as cataract fragmentation, anterior capsulotomy, and corneal incision are being drastically replaced by more efficient lasers resulting in increased accuracy and precision.
Key Companies Profiled: –
Medtronic Public Limited Company, Boston Scientific Corp, St Jude Medical LLC and Nevro Corp, Nuvectra Corporation and Stimwave, Neurosigma Inc., Synapse Biomedical Inc., Abbott Laboratories, Beijing PINS Medical Co., Ltd, Cirtec Medical Corporation, Gimer Medical, Bluewind Medical, Bioinduction, Greatbatch, Inc., Saluda Medical Pty Ltd.
Excimer and Femtosecond Ophthalmic Lasers Market Segments
- Excimer Laser
- Femtosecond Laser
- Refractive Surgery
- Cataract Surgery
- Ambulatory Surgical Centers
- Ophthalmology Clinics
More Insights into the Excimer and Femtosecond Ophthalmic Lasers Market
The U.S. is expected to dominate the global excimer and femtosecond ophthalmic lasers market as it accounted for more around 81.8% of the North American Excimer and Femtosecond Ophthalmic Lasers Market in 2021 and it is poised to grow at a robust pace during the next ten years.