The global excimer and femtosecond ophthalmic lasers market is on a trajectory of robust growth, with a forecasted valuation of US$ 2.41 billion by 2032. According to recent market analysis, the sector witnessed a significant uptick in 2021, reaching US$ 1.02 billion, and is expected to exceed US$ 1.18 billion by the end of 2022.
This remarkable expansion is primarily fueled by the escalating prevalence of eye diseases worldwide and the increasing adoption of ophthalmic lasers. With an anticipated Compound Annual Growth Rate (CAGR) of 8.0% over the forecast period (2022 to 2032), the market is poised for substantial development.
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Key insights reveal that refractive surgeries represent the dominant application segment within the global Excimer and Femtosecond Ophthalmic Lasers Market, commanding nearly 69% of the total value share in 2021. These surgeries leverage excimer lasers, a type of ultraviolet laser widely utilized in ophthalmic procedures.
Excimer lasers are instrumental in procedures such as excimer laser photorefractive keratectomy and excimer laser in-situ keratomileusis (LASIK). By altering the refractive state of the eye through tissue removal from the anterior cornea, excimer lasers offer effective solutions for correcting refractive errors.
“The Excimer and Femtosecond Ophthalmic Lasers Market is witnessing a paradigm shift driven by technological advancements and increasing patient demand for precise, minimally invasive eye treatments,” stated a FMI. “As the market continues to evolve, stakeholders are poised to capitalize on emerging opportunities and innovations, thereby revolutionizing eye care globally.”
With a promising outlook and sustained innovation, the Excimer and Femtosecond Ophthalmic Lasers Market is positioned to play a pivotal role in enhancing vision outcomes and addressing the evolving needs of patients worldwide.
Key Trends Driving the Excimer and Femtosecond Ophthalmic Lasers Market:
- Expanding Access to Eye Care:
- Increase in ophthalmology clinics and hospitals caters to a growing elderly population and diabetics at risk of eye problems.
- Government initiatives promoting eye care as part of healthcare coverage further fuels market growth.
- Technological Advancements:
- Manufacturers are continuously improving laser systems for better performance in delicate eye surgeries.
- Femtosecond lasers offer higher precision, accuracy, safety, and flexibility compared to traditional techniques.
- Rising Adoption of Bladeless LASIK:
- Excimer and femtosecond lasers combined for LASIK reduce risks associated with manual procedures.
- Growing patent activity in femtosecond technology suggests an increase in market players.
- Success of Laser Eye Surgeries:
- High success rates and safety features of LASIK, PRK, and LASEK surgeries create significant potential for market growth.
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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
Product:
- Excimer Laser
- Femtosecond Laser
Application:
- Refractive Surgery
- Cataract Surgery
- Capsulotomy
- Trabeculoplasty
- Diagnosis
End User:
- Hospitals
- Ambulatory Surgical Centers
- Ophthalmology Clinics
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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