The global Excimer and Femtosecond Ophthalmic Lasers Market size reached USD 1.02 billion in 2021 and is expected to touch a valuation of USD 1.18 billion by the end of 2022. Furthermore, with the increasing prevalence of eye diseases across the world and growing adoption of ophthalmic lasers, the overall sales of excimer and femtosecond ophthalmic lasers are projected to rise at 8.0% CAGR over the forecast period (2022 to 2032), totaling a market valuation of USD 2.41 billion by 2032.
By application, the refractive surgeries segment dominated the global Excimer and Femtosecond Ophthalmic Lasers Market with a total value share of nearly 69% in 2021.
An excimer laser is a form of ultraviolet laser, commonly used in ophthalmic surgeries. The most common procedures conducted using this laser are excimer laser photorefractive keratectomy and excimer laser in-situ keratomileusis (LASIK), which can be used to correct refractive errors of the eye, as excimer laser alters the refractive state of the eye by removing tissue from the anterior cornea.
| Attribute | Key Statistics |
|---|---|
| Excimer and Femtosecond Ophthalmic Lasers Market Base Value (2021) | USD 1.02 billion |
| Estimated Market Value (2022) | USD 1.18 billion |
| Projected Market Value (2032) | USD 2.41 billion |
| Value-based CAGR of (2022 to 2032) | 8.0% |
| Market share of Top 5 countries | 56.5% |
The femtosecond (FS) laser is an infrared laser with a wavelength of 1053nm. These lasers fall under the category of ultrafast lasers or ultra-short pulse lasers. Shortened pulse duration reduces the amount of collateral tissue damage, which makes FS laser safe for use in corneal surgeries owing to the need for higher precision. Both these lasers play a significant role in refractive, cataract surgeries, and other ophthalmic surgeries.
Excimer and femtosecond ophthalmic lasers have become highly sought-after products used in surgical care for treating numerous eye disorders on account of their safe, precise, and accurate nature. With these attractive benefits and advancements in their technologies, excimer and femtosecond ophthalmic lasers have the potential to become the gold standard of eye surgeries.
Rise prevalence of various 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 forecast period.
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The global Excimer and Femtosecond Ophthalmic Lasers Market is expected to expand at 8.0% CAGR in terms of revenue over the forecast period (2022 to 2032), in comparison to the 7.5% CAGR registered from 2014 to 2021.
The growth of 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.
Other prominent growth factors include an increasing number of refractive errors such as myopia (moderate to high myopia) seen in younger persons and an increasing inclination towards LVC (Laser Vision Correction) procedures.
As per the Centers for Disease Control and Prevention (CDC), around 12 million people aged 40 years and older in the United States have vision impairment and this number is expected to further surge during the forthcoming years.
The increasing prevalence of age-related macular degeneration (AMD), glaucoma, cataract, diabetic retinopathy, and presbyopia require surgical correction to restore normal vision. Thus, the increasing 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.
Similarly, patients’ rising awareness of curative ophthalmic health is creating sustainable demand for ophthalmic treatments globally. Patients particularly in countries such as India, The United Kingdom, Canada, and The USA tend to search for adequate ophthalmic treatments over the internet.
This along with the development in ophthalmic surgical infrastructure has thus led to an increasing number of ophthalmic surgeries in emerging economies, involving advanced technologies such as femtosecond lasers and excimer lasers over the last few years and the trend is likely to continue during the forecast period.
Improving Access to Eye Care Services Due to Rise in the Number of Ophthalmology Hospitals and Clinics Bolstering Market Growth
More ophthalmology clinics and hospitals are being established in many nations throughout the world. This is due to the large numbers of older 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. This is anticipated to support femtosecond and excimer ophthalmic laser market growth during the next ten years.
The government and other regulatory bodies are putting greater efforts to make eye care services an integral part of universal health coverage and address the rising impact of vision loss on sustainable development. This will create lucrative growth prospects within the global excimer and femtosecond laser market.
To provide ophthalmologists with the best tools possible for performing delicate eye procedures, ophthalmic laser manufacturers are constantly improving their laser systems.
Femtosecond laser cutting is done with greater precision and accuracy when compared to manual surgery. Femto laser cutting provides more safety, consistency, predictability, and flexibility for LASIK surgery.
Bladeless LASIK using excimer and femtosecond lasers reduces the risk of incomplete or irregular cutting as well as the possibility of free caps. Since more businesses are obtaining patents for their technological advancements, it is projected that greater acceptance of femtosecond technology in ophthalmology will lead to an increase in the number of players in the worldwide femtosecond lasers market.
Additionally, LASIK and other laser eyes surgeries, such as PRK and LASEK, have very high success rates and outstanding safety features, creating tremendous potential for ophthalmic laser producers during the projected period.
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Femto-LASIK surgery includes certain complications, such as drying of the eyes because some nerves may get injured, affecting tear production.
Additionally, in some cases of flap margin necrosis, a patient may experience a stinging sensation in the eyes. Opacified bubble layer, extreme light sensitivity, partial flaps, rainbow glare, torn flap, corneal perforation, incomplete flap, decentred flaps, small flaps, slipped flaps, flap-folds, traumatic flap dislocation, optic nerve damage, flap tears, haze, macular hemorrhage, infection, stromal cell necrosis, inflammation, and corneal nerve damage are additional uncommon complications.
Furthermore, the high price of femtosecond laser systems hinders their use in developing nations. A femtosecond laser system typically costs approximately USD 500,000, with service fees of about 10% annually and a per-use fee of about USD 350 to USD 450 per eye.
The expense of refractive and femtosecond refractive surgeries rises as a result of the femtosecond surgical method, which is ultimately reflected in the expensive pricing. As a result, the majority of people in emerging nations who have refractive defects prefer traditional Lasik treatments, such as LASIK with microkeratomes, for refractive surgery.
Thus, the high cost of these systems and such common and uncommon complications related to the treatments are anticipated to restrain the growth of the worldwide Excimer and Femtosecond Ophthalmic Lasers Market during the forecast period.
Increase in Minimally Invasive Eye Surgeries Driving Market in The USA
The USA held the largest market share of about 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.
Excimer and Femtosecond Ophthalmic Lasers Market expansion is anticipated to be fuelled by FDA clearance for femtosecond lasers in the USA, increasing spending on eye care, and the presence of well-established ophthalmic laser manufacturers in the nation.
Similarly, the growing popularity of minimally invasive glaucoma surgery and the availability of advanced technologies are playing crucial roles in expanding the USA Excimer and Femtosecond Ophthalmic Lasers Market.
Additionally, growing cases of cataract patients and a preference for high-end products with reduced risk factors post-surgery amongst the American population are further expected to boost this market growth over the forecast duration.
According to the Centers for Disease Control and Prevention (CDC), over one million cataract surgeries are performed each year in The USA and more than half of Americans over the age of 80 are living with cataracts. This will continue to push the demand for excimer and femtosecond ophthalmic lasers in The USA during the forecast period.
Rise in Eye Diseases Boosting Sales of Ophthalmic Lasers in Spain
As per FMI, Spain accounted for around 22.3% share of the European Excimer and Femtosecond Ophthalmic Lasers Market in 2021 and is expected to generate revenue worth USD 40.5 Million in 2022. Growth in Spain’s Excimer and Femtosecond Ophthalmic Lasers Market is driven by the rising prevalence of eye disorders such as myopia in children, especially between the age group 5-7 years, expansion of the healthcare industry, and favorable government support.
The surge in Geriatric Population and Growing preference for laser Operations Pushing Demand in Japan
As of 2021, the excimer and femtosecond lasers market in Japan reached a valuation of USD 56.8 Million and it is expected to witness a healthy growth rate during the next ten years. Given that laser operations and ophthalmic lasers offer far greater safety and effectiveness than conventional methods, the significant prevalence of an aging population in the nation is driving up demand for these procedures and devices.
For instance, using a femtosecond laser during cataract surgery enables the surgeon to cut the cornea and open the lens capsule in addition to fragmenting the cataract. This reduces heat harm to ocular tissues caused by ultrasound and corneal oedema and low-energy phacoemulsification.
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Excimer Laser Remains the Highly Sought-After Product in the Market
Based on product, the excimer lasers segment dominated the global excimer and femtosecond ophthalmic lasers market with a total market share of about 60.3% in 2021 and it is likely to grow at a higher CAGR during the forecast period.
This can be attributed to the rising usage of excimer lasers in ophthalmic surgery on account of their safe and highly effective nature. These lasers have ultraviolet wavelengths that are used for the photodecomposition of tissue and ablation.
Excimer laser treatment methods include excimer laser in situ keratomileusis and photorefractive keratectomy for the correction of ocular refractive defects.
Although they can also be used to treat astigmatism and hyperopia (farsightedness), myopia (near-sightedness) is the condition they are most frequently used.
Demand for Ophthalmic Lasers Remains High in Refractive Surgeries
The refractive surgery segment held the largest revenue share of around 69.7% in 2021 and it is likely to remain the most lucrative application for excimer and femtosecond ophthalmic lasers during the forecast period.
Increasing incidence of refractive errors along with the rise in the number of refractive surgeries to eliminate or reduce the dependence on glasses and contact lenses are driving the growth of this segment.
According to the World Health Organisation (WHO), an estimated 153 million people get visually impaired due to uncorrected refractive error worldwide. The rising prevalence of far-sightedness & near-sightedness and awareness campaigns for visual abnormalities are some major factors leading to the demand for refractive surgeries that will eventually boost the market growth.
Most of the Demand arises from Ophthalmic Clinics
By end user, ophthalmology clinics dominated the global excimer and femtosecond lasers market with a share of about 44.7% in 2021 and the trend is likely to continue during the forecast period.
The lower cost of excimer laser treatment in ophthalmology clinics and increasing preference amongst patients for visual abnormalities treatment in the ophthalmology clinics are driving the growth of this segment.
Similarly, a rise in the number of ophthalmic clinics across the world will further boost the growth of this segment during the assessment period.
The use of FLACS, or femtosecond laser-aided cataract surgery, as a safe and efficient therapy option for elderly patients, is rapidly gaining ground. Femtosecond lasers are replacing hand-held surgical instruments in procedures like cataract fragmentation, anterior capsulotomy, and corneal incision as a result of increased accuracy and precision.
Flapless treatments, like Small Incision Lenticule Extraction (SMILE), is being developed by major players in the excimer and femtosecond laser markets to treat refractive defects like myopia, hyper myopia, presbyopia, and astigmatism.
Similarly, various leading players are launching new products and using merger and acquisition strategies to gain a competitive edge in the global Excimer and Femtosecond Ophthalmic Lasers Market. For instance,
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 1.18 billion |
| Projected Market Size (2032) | USD 2.41 billion |
| Anticipated Growth Rate (2022 to 2032) | 8.0% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and Middle East & Africa (MEA). |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Argentina, The Rest of Latin America, The United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, The Rest of Europe, Japan, China, South Korea, India, Thailand, Indonesia, Malaysia, Vietnam, Philippines, Australia, New Zealand, Turkey, GCC, South Africa, Israel, North Africa and Rest of MEA. |
| Key Market Segments Covered | Product, application, end user, region |
| 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. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global Excimer and Femtosecond Ophthalmic Lasers Market is expected to reach USD 1.18 billion in 2022.
The global sales of excimer and femtosecond ophthalmic lasers are anticipated to grow at 8% CAGR through 2032.
FMI predicts the global Excimer and Femtosecond Ophthalmic Lasers Market to reach a valuation of USD 2.41 billion by 2032.
The increasing aging and diabetic population, rising number of people with refractive errors, and increasing number of ophthalmology clinics & hospitals are some of the factors driving demand for excimer and femtosecond ophthalmic lasers.
Refractive surgery application dominates the global Excimer and Femtosecond Ophthalmic Lasers Market with a total share of about 69.7%.
With around 32.2% market share in 2021, North America will continue to remain the most lucrative market for excimer and femtosecond ophthalmic lasers during the forecast period.
Abbott Medical Optics, Inc, Alcon Inc. (Novartis AG), Bausch Health Companies, ZEISS International NIDEK CO. LTD., are some of the leading companies in excimer and fetosecond ophthalmic laser market.
The USA., China, Canada, Japan, and India are the top 5 countries driving demand for excimer and femtosecond ophthalmic lasers.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Market Background 6. Global Excimer and Femtosecond Ophthalmic Lasers Market Volume (Units) Analysis 2014 to 2021 and Forecast, 2022 to 2032 7. Global Excimer and Femtosecond Ophthalmic Lasers Market - Pricing Analysis 8. Global Excimer and Femtosecond Ophthalmic Lasers Market Demand (in Value or in USD Million) Analysis 2014 to 2021 and Forecast, 2022 to 2032 9. Global Excimer and Femtosecond Ophthalmic Lasers Market Analysis 2014 to 2021 and Forecast 2022 to 2032, By Product 9.1. Excimer Lasers 9.2. Femtosecond Lasers 10. Global Excimer and Femtosecond Ophthalmic Lasers Market Analysis 2014 to 2021 and Forecast 2022 to 2032, By Application 10.1. Refractive Surgery 10.2. Cataract Surgery 10.3. Capsulotomy 10.4. Trabeculoplasty 10.5. Diagnostic 11. Global Excimer and Femtosecond Ophthalmic Lasers Market Analysis 2014 to 2021 and Forecast 2022 to 2032, By End User 11.1. Hospitals 11.2. Ambulatory Surgical Centers 11.3. Ophthalmology Clinics 12. Global Excimer and Femtosecond Ophthalmic Lasers Market Analysis 2014 to 2021 and Forecast 2022 to 2032, By Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. East Asia 12.5. South Asia 12.6. Oceania 12.7. The Middle East and Africa (MEA) 13. North America Excimer and Femtosecond Ophthalmic Lasers Market Analysis 2014 to 2021 and Forecast 2022 to 2032 14. Latin America Excimer and Femtosecond Ophthalmic Lasers Market Analysis 2014 to 2021 and Forecast 2022 to 2032 15. Europe Excimer and Femtosecond Ophthalmic Lasers Market Analysis 2014 to 2021 and Forecast 2022 to 2032 16. East Asia Excimer and Femtosecond Ophthalmic Lasers Market Analysis 2014 to 2021 and Forecast 2022 to 2032 17. South Asia Excimer and Femtosecond Ophthalmic Lasers Market Analysis 2014 to 2021 and Forecast 2022 to 2032 18. Oceania Excimer and Femtosecond Ophthalmic Lasers Market Analysis 2014 to 2021 and Forecast 2022 to 2032 19. Middle East and Africa (MEA) Excimer and Femtosecond Ophthalmic Lasers Market Analysis 2014 to 2021 and Forecast 2022 to 2032 20. Market Structure Analysis 21. Competition Analysis 21.1. Bausch Health Company 21.2. Abbott Medical Optics, Inc 21.3. Alcon Inc. (Novartis AG) 21.4. Bausch Health Companies 21.5. ZEISS International NIDEK CO. LTD. 21.6. SCHWIND eye-tech-solutions GmbH & Co. 21.7. IVIS TECHNOLOGIES EXCELSIUS MEDICAL GMBH Ziemer Ophthalmic Systems 21.8. Ellex Medical Lasers Limited 21.9. Topcon Corporation 22. Assumptions and Acronyms Used 23. Research Methodology
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Excimer and Femtosecond Ophthalmic Lasers Market
