Valley Cottage, NY -- (SBWire) -- 10/25/2017 --Future Market Insights provides a detailed analysis of the global ophthalmic lasers market in a new report titled "Ophthalmic Lasers Market: Global Industry Analysis and Opportunity Assessment, 2016–2026". The global ophthalmic lasers market was valued at US$ 421.5 Mn in 2015 and is estimated to reach US$ 437.2 Mn by 2016 end, with a Y-o-Y growth rate of 3.7%.
Market dynamics
Factors such as rising prevalence of ophthalmic diseases leading to laser ophthalmic procedures and a growing elderly population susceptible to ophthalmic diseases such as cataract and glaucoma is anticipated to fuel the revenue growth of the global ophthalmic lasers market over the forecast period. Factors such as growing ophthalmic care expenditure, rising government provision in developed economies, constructive reimbursement policies, and increasing disposable income per capita are anticipated to enhance the growth of the global ophthalmic lasers market over the forecast period. However, high costs associated with ophthalmic lasers and replacement of current ophthalmic laser technology with advanced technologies might hinder the growth of the global ophthalmic lasers market over the forecast period.
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Segmentation highlights
The global ophthalmic lasers market is segmented on the basis of Product Type (Photo-coagulation Lasers, Photo-disruption Lasers, Selective Laser Trabeculoplasty); Disease Type (Diabetic Retinopathy, Glaucoma Surgery, Cataract Surgery, Others); and End User (Hospitals, Ambulatory Surgical Centres, Ophthalmic Clinics).
The Selective Laser Trabeculoplasty product type segment is estimated to reflect a Y-o-Y growth rate of 4.3%. The Photo-coagulation Lasers segment is anticipated to register a CAGR of 4.6% over the forecast period.
The Glaucoma Surgery disease type segment is estimated to account for the highest market revenue share of the global ophthalmic lasers market by 2016 end. The Diabetic Retinopathy segment is estimated to account for the second highest market share of the global ophthalmic lasers market by 2016.
The Ophthalmic Clinics end user segment is anticipated to account for the highest market share of 45.1% of the global ophthalmic lasers market by 2016 end and register a CAGR of 5.6% over the forecast period. The Ambulatory Surgical Centres segment is estimated to reflect a Y-o-Y growth of 3.9% in 2016 over 2015.
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Regional forecast
The global ophthalmic lasers market is segmented into the seven key regions of North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA. North America is expected to dominate the global ophthalmic lasers market in terms of revenue and is estimated to be valued at US$ 242.4 Mn by the end of 2026. North America is anticipated to account for the highest market share of 31.8% of the global ophthalmic lasers market by the end of 2016 while Western Europe is estimated to hold the second highest market share of 33.9% of the global ophthalmic lasers market by the end of 2016. The North America, Western Europe, and APEJ markets represent the highest growth opportunities in the global ophthalmic lasers market owing to a large patient population and more demand for laser technologies in diabetic retinopathy and glaucoma surgeries.
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Vendor insights
The global ophthalmic lasers market report profiles some of the top companies operating in the global ophthalmic lasers market. Leading market players featured in the report are Ellex Medical PTY Ltd., Lumenis Ltd., IRIDEX Corporation, ZEISS International, NIDEK CO. LTD., Novartis AG, Topcon Corporation, and Quantel SA. These companies are focussing on developing new technologies to aid in seamless ophthalmic surgeries and are looking to penetrate new and emerging markets through strategic acquisitions.
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Ophthalmic Lasers Market to Rear Excessive Growth During 2016-2026
Future Market Insights has announced the addition of the “Ophthalmic Lasers Market: Global Industry Analysis and Opportunity Assessment, 2016-2026"report to their offering.