Global Excimer and Femtosecond Ophthalmic Lasers Market to Reach USD 2.41 Billion by 2032 Amidst Surge in Eye Disease Cases and Technological Advancements

Posted on 2024-09-02 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

The global excimer and femtosecond ophthalmic lasers market is on a trajectory of robust growth, with recent analyses projecting the market to reach an impressive valuation of USD 2.41 billion by 2032. This marks a significant increase from USD 1.02 billion in 2021, with forecasts indicating that the market will exceed USD 1.18 billion by the end of 2022. The market is expected to achieve a Compound Annual Growth Rate (CAGR) of 8.0% from 2022 to 2032.

This surge in market value is largely driven by the rising incidence of eye diseases worldwide, coupled with the growing adoption of advanced ophthalmic laser technologies. These lasers, particularly excimer and femtosecond lasers, are becoming increasingly essential in the field of ophthalmology due to their precision and effectiveness in treating various eye conditions.

Refractive surgeries have emerged as the dominant application segment within the global excimer and femtosecond ophthalmic lasers market, commanding nearly 69% of the total market share in 2021. These surgeries, which include procedures like excimer laser photorefractive keratectomy and excimer laser in-situ keratomileusis (LASIK), utilize excimer lasers to correct refractive errors by removing tissue from the anterior cornea, thereby altering the refractive state of the eye.

“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 representative from Future Market Insights. “As the market continues to evolve, we are poised to capitalize on emerging opportunities and innovations, thereby revolutionizing eye care globally.”

The global market’s impressive growth underscores the increasing reliance on advanced laser technologies in ophthalmology, promising a future where precise, minimally invasive eye treatments become the standard of care worldwide.

Key Trends Driving Market Growth:

Expanding Access to Eye Care:
- An increase in ophthalmology clinics and hospitals caters to the growing elderly population and individuals with diabetes at risk of eye problems.
- Government initiatives promoting eye care as part of healthcare coverage further fuel market growth.
Technological Advancements:
- Continuous improvements in laser systems enhance performance in delicate eye surgeries.
- Femtosecond lasers offer higher precision, accuracy, safety, and flexibility compared to traditional techniques.
Rising Adoption of Bladeless LASIK:
- The combination of excimer and femtosecond lasers for LASIK reduces 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.

Explore the Growing Demand for Excimer and Femtosecond Ophthalmic Lasers: Get All the Insights in Our Comprehensive Report!

Key Companies in the Market:

The market features key players such as Medtronic Public Limited Company, Boston Scientific Corp, St Jude Medical LLC, Nevro Corp, Nuvectra Corporation, Stimwave, Neurosigma Inc., Synapse Biomedical Inc., Abbott Laboratories, Beijing PINS Medical Co., Ltd, Cirtec Medical Corporation, Gimer Medical, Bluewind Medical, Bioinduction, Greatbatch, Inc., and Saluda Medical Pty Ltd.

Market Segmentation:

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)

About Future Market Insights (FMI)

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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