The global sales of ophthalmic lasers are estimated to be worth USD 976.8 million in 2024 and are anticipated to reach a value of USD 1,561.0 million by 2034. Sales are projected to rise at a CAGR of 4.8% over the forecast period between 2024 and 2034. The revenue generated by ophthalmic lasers in 2023 was USD 932.1 million.
Ophthalmic disorders such as cataract, glaucoma, macular degeneration, retinal disorders are on rise across worldwide. This has led to significant inclination towards non-invasive energy based treatment options. Improvement in femtosecond lasers, SLT, or other comparative treatment modalities increases the precision and minimizes invasiveness to treatment, thus possibly superior patient outcomes.
Growing eye diseases are fueling the increased need for sophisticated ophthalmic treatments in high-income areas where healthcare access is strong. Thus, in such conditions, ophthalmic lasers have emerged as a wonderful mode of treatment, providing solutions much safer, faster, and more effective than the conventional methods, thus gaining increasing acceptance in developed countries with health systems in place.
Global Ophthalmic Lasers Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 932.1 million |
| Estimated Size, 2024 | USD 976.8 million |
| Projected Size, 2034 | USD 1,561.0 million |
| Value-based CAGR (2024 to 2034) | 4.8% |
According to the World Health Organization, about 2.2 billion people worldwide suffer from some form of impaired vision or blindness. The companies involved, particularly Alcon and Lumenis, are going to spearhead these short recovery times coupled with greatly enhanced surgical precision, the hallmarks of innovation with laser technology.
Market growth will be driven by trends toward customized care for the eye and much higher levels of laser integration into eye procedures. With these innovations, ophthalmic lasers become a daily driver in future practice, making ophthalmology solutions safer and more efficient for the next decade.
On the other hand, relatively underprivileged areas have fewer quality eye care facilities. The scarcity of trained ophthalmologists, underdeveloped infrastructure, and financial constraints compromise proper treatment.
Now, with portable and more cost-effective ophthalmic laser devices coming into the market, they are filling this gap by increasing access to eye care in underprivileged areas. The practical use of such innovative devices makes them accessible to basic or emergency eye care for remote or low-resource areas.
IAPB has launched "VISION 2030" to eliminate avoidable blindness by expanding eye-care provision in these communities. Apart from health activities, it also emphasizes the affordability of ophthalmic laser systems, particularly within far-off areas and remote territories.
Thus, on account of this growing concern for enhancing global eye health, it is expected that the ophthalmic lasers market will grow significantly shortly. These technologies will improve treatment outcomes in the developed regions, but an important role for these technologies is in the expansion of access to quality vision care in many parts of the developing world in a bid to prevent and control avoidable blindness.
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The above table presents the expected CAGR for the global ophthalmic lasers market over several semi-annual periods spanning from 2024 to 2034. In the first half (H1) of the decade from 2023 to 2033, the business is predicted to surge at a CAGR of 5.8%, followed by a slightly decline in growth rate of 5.2% in the second half (H2) of the same decade.
| Particular | Value CAGR |
|---|---|
| H1 | 5.8% (2023 to 2033) |
| H2 | 5.2% (2023 to 2033) |
| H1 | 4.8% (2024 to 2034) |
| H2 | 4.4% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to decrease slightly to 4.8% in the first half and decrease moderately at 4.4% in the second half. In the first half (H1) the market witnessed a decrease of 100.0 BPS while in the second half (H2), the market witnessed a decrease of 80.0 BPS.
Rising Adoption of Laser-assisted Eye Surgery Driving Market Demand
The popularity of laser-assisted eye surgeries, that is, LASIK and PRK, mainly drives the ophthalmic lasers market. These have been popularized because they provide higher precision to the procedure, are less invasive compared to earlier methods, and have relatively faster recovery periods, hence better patient outcomes and satisfaction. Ophthalmic lasers are increasingly being used with real-time imaging capability and corneal reshaping through customization.
Femtosecond lasers and excimer lasers that dominate the markets in terms of refractive surgery. These treatments require high-performance lasers for precise ablation and reshaping of the cornea. Lesser are the risks and complications for surgical interventions and higher precision is more appreciated, thereby making patients switch to more laser-assisted treatments.
The application of lasers is also increasing in the practice of cataract surgery, which also helps break the smaller cuts in cataracts thereby minimizing its use of ultrasonic energy and perfecting it further.
The fact that hospitals and surgical centers continue investing in advanced ophthalmic laser systems will make the trend of laser-assisted techniques pick up significantly during the next decade. It reflects commitment toward the adoption of cutting-edge technology and steadily increasing demand for high-quality eye care.
In the future, it is all set to see the rising adoption of laser-assisted eye surgery bring about vast growth in the ophthalmic laser market, a technology that will eventually be indispensable for the future of ophthalmic treatments.
Rising Focus on Glaucoma and Diabetic Retinopathy Treatments Driving the Demand of the Market.
Effective management options through laser-based therapy also rank high among the most important drivers for growth in the ophthalmic lasers market with the growing prevalence of glaucoma and diabetic retinopathy, especially selective laser trabeculoplasty and pan-retinal photocoagulation, which optimize intraocular pressure and prevent vision loss.
The demand for effective, non-invasive laser treatments for these chronic eye diseases in the aging world and the rising incidence of diabetes will be growing considerably in the years to come.
In comparison to the traditional therapies given to the patients, the treatments using ophthalmic lasers are relatively safe and free of side effects. It is due to these reasons that ophthalmologists have a special interest in such an approach to treating these diseases.
The advantage to the patient care with such modern laser techniques is that they minimize both pain and the recovery period. Advanced laser technology with characteristics such as better precision and automation boosts the appeal of such treatments in the eyes of ophthalmologists because it allows them to administer interventions that are safer and more effective.
With the increasing knowledge of eye health and the broader use of preventive screening programs, patients with these conditions are being diagnosed more frequently, which gives rise to a greater demand for advanced treatment options. Early intervention and disease management, whose effectiveness is gaining more and more importance, call for potent therapies, thus placing ophthalmic lasers at the center of modern ophthalmic care.
With the continuous evolution of market trends, advancements in laser technology will be at the forefront of growth for the treatment of glaucoma and diabetic retinopathy and will contribute significantly to market growth shortly.
The rising prevalence of eye disorders is creating significant opportunities for the ophthalmic lasers market.
High incidence of diseases such as cataracts, glaucoma, and diabetic retinopathy provides a wide scope for the ophthalmic lasers market. An increasing number of patients currently require effective treatment as the prevalence increases among elderly populations and develops among diabetic patients.
Moreover, the growing recognition of modern eye care methodology has further increased the employment of lasers in ophthalmology - these are safe, highly invasive solutions that ensure improved patient outcomes.
The highly accurate laser treatments result in short recovery times that benefit both patients and providers; these facilitate the growth of chronic eye disease management technologies.
At the same time, the growing awareness of ophthalmic disorders is bound to increase both diagnosis of such disorders as well as early onset; thus, this increases demand for ophthalmic lasers even more because the earlier the intervention, the sooner the treatment, which again leads to increased demand. Healthcare providers want to acquire the latest laser systems to be able to treat their patients with the most advanced technologies available.
Overall, the significant increase in the prevalence rate of eye diseases provides an excellent prospect for the market in the application of ophthalmic lasers, challenging invention as well as growth since healthcare systems look to offer high-quality solutions for the care of eyes.
The existence of alternative treatment options may limit the market's growth.
Although ophthalmic lasers have many advantages in the treatment of eye disorders, the availability of alternative treatments considerably slows down market growth.
These mainly include pharmacological therapies in the form of topical drugs applied to the eye for glaucoma management and anti-VEGF injections for the management of retinal diseases. Such interventions usually require less equipment and training and are easier to implement in case the healthcare organization has a limited budget.
Other reasons are the fame of conventional surgical procedures, such as cataracts in the trained surgeons. Awareness of these traditional surgeries and the already set protocols regarding them makes the providers uncomfortable with the new laser technology. The patient may even prefer such established methods especially if more information is received on the older options, which appear safer or more reliable.
More importantly, in areas where proper medical care is scarce, the cost-effective alternatives may outweigh advanced laser systems. Practices are therefore slower to implement ophthalmic lasers and invest instead in pharmacological solutions or conventional surgeries that may only require less investment at the beginning.
Principal Consultant
The global ophthalmic lasers industry recorded a CAGR of 3.6% during the historical period between 2019 and 2023. The growth of the ophthalmic lasers industry was positive as it reached a value of USD 1,561.0 million in 2034 from USD 976.8 million in 2024.
Between 2019 and 2023, the market for global ophthalmic lasers is anticipated to witness a high growth rate due to the augmented prevalence of ophthalmic disorders like cataracts, glaucoma, and diabetic retinopathy. Enhanced awareness about eye health and a desire for sophisticated, minimally invasive treatments have motivated the acceptance of ophthalmic lasers by healthcare institutions.
Further laser technologies developed, such as femtosecond lasers and selective laser treatments, allowed surgeons to conduct highly precise surgery that significantly improved patients' recovery results and thereby pushed the market sales upward.
The demand for ophthalmic lasers will also increase further between 2024 and 2034 in the forecast period. The increase in the prevalence of chronic diseases of the eye among the geriatric populace would be another factor with a trend that shifts towards noninvasive surgical interventions.
Increased automation and scope for personalized treatment using laser technology are already in the pipeline and will lead to further market growth. Improved access to eye care, in the form of programs implemented to bring more care services to underdeveloped regions, is likely to fuel demand for more portable and cost-effective laser solutions.
Laser-assisted procedures starting from routine and moving towards complex ones are likely to make ophthalmic lasers indispensable instruments in contemporary eye care and thus shape the market for the next ten years to be rather strong.
Tier 1 companies hold the largest market share in ophthalmic lasers with wide portfolios and powerful technological competencies. The largest firms in this industry include Abbott Medical Optics, Inc., Alcon Inc. (Novartis AG), and Bausch & Lomb Incorporated, holding an overall market share of 56.5%.
Their range of advanced ophthalmic lasers and sizeable investments in research and development make them industry leaders. These companies, as well, have a strong global presence and meet stringent regulatory standards that help to provide more holistic solutions for the treatment of multiple eye problems.
Tier 2 comprises NIDEK CO., LTD, and LENSAR, LLC. They have revenues between USD 80 million and USD 100 million. Their business is rooted in very narrow niches in the ophthalmic lasers segment. They provide unique laser systems or features in specific domains.
The other major, niche players of Tier 3 include iVIS Technologies, ZEISS International, Ziemer Ophthalmic Systems AG, and SCHWIND eye-tech-solutions GmbH & Co. KG. As a collective share, they accounted for less than 12.9% of the market share. They tend to provide niche formulations or niche-specific treatment areas within ophthalmic lasers and epitomize the diversity and innovation in the market.
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The section below covers the industry analysis for the ophthalmic laser market for different countries. Market demand analysis on key countries in several regions of the globe, including North America, Asia Pacific, Europe, and others, is provided. The United States is anticipated to remain at the forefront in North America, with a CAGR of 1.5% through 2034. In Asia Pacific, China is projected to witness a CAGR of 4.8% by 2034.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| USA | 1.5% |
| Germany | 1.7% |
| France | 2.4% |
| UK | 1.7% |
| China | 4.8% |
| India | 5.4% |
| South Korea | 3.8% |
Germany’s ophthalmic lasers market is expected to exhibit a CAGR of 1.7% between 2024 and 2034. The Germany holds highest market share in European market.
Increased adoption of advanced laser technology in clinical applications has mainly affected the ophthalmic lasers market in Germany. This is due to the well-known healthcare infrastructure as well as patient awareness about eye health within the country. One of the main trends observed is the growing demand for femtosecond lasers, which have been growing over the past few years for surgical procedures such as LASIK and cataract extraction.
Precision and better patient results due to advanced systems make the German clinics hugely invest in it. The improvement of access and funding to health care by the German government, especially concerning ophthalmic care, will push the growth of laser technologies during the near term with advancement for treatment widening scopes in every age group.
The USA market is anticipated to grow at a CAGR of 1.5% throughout the forecast period. The refractive surgery sector is the big winner in the USA Ophthalmic lasers market. A huge population wants treatment for their vision, and hence, LASIK and PRK, laser-assisted surgeries, are witnessing a rise in this region.
Strong insurance coverage in the USA markets also aids in the chances of more patients opting for laser treatment. Innovative laser technologies are developed by the USA companies leading the pack and are regularly introduced to enhance procedure efficiency and safety.
Furthermore, the extensive well-established network of specialized eye care providers accelerates market growth as the facilities purchase the latest technologies to meet patients' demands for minimally invasive options.
China is expected to hold dominating position in the East Asia market of ophthalmic lasers and is anticipated to grow at a CAGR of 4.8% throughout the forecast period.
The Chinese ophthalmic laser market is increasing very rapidly, especially with the advent of mobile and portable laser systems. This is important in bridging the gap between urban and rural areas concerning access to eye care. A vast population and the increasing number of eye disorders are driving demand for ophthalmic lasers.
Companies are developing low-cost portable laser devices that can be deployed in remote settings, thereby reaching out to more people for quality eye care. Chinese government initiatives toward better healthcare infrastructure and access have also played a significant role in this trend. It spreads not just in the urban centers but also infiltrates the rural communities, hence very beneficial for the general enhancement of eye health in the country.
The section contains information about the leading segments in the industry. Based on the product, Excimer Lasers is expected to account for 60.4% of the global market share in 2024.
| Product | Excimer Lasers |
|---|---|
| Value Share (2024) | 60.4% |
The leader in the market is excimer lasers, with more than 60% market share. This is primarily because excimer lasers are used most extensively in refractive surgeries like LASIK and PRK due to their particular ability to ablate corneal tissue with precise control. Increasing demand for vision correction procedures provides the key driver for this product category.
Excimer lasers rank amongst the most precise, thus limiting the potential for complications and ensuring the patient leaves satisfied. Moreover, excimer laser technology, in general, like wavefront-guided treatments, has improved the outcome with the personalization of laser corrections based on a specific eye profile of the patient, thus supporting this trend-there is a growing prevalence of refractive errors within all populations, especially within the developed countries.
| Application | Refractive Surgery |
|---|---|
| Value Share (2024) | 69.7% |
Ophthalmic lasers have their biggest application area in refractive surgery, with 69.7% share in the market. The laser vision correction procedures have gained much acceptance and awareness that drove growth in the refractive surgery market. Refractive surgeries, like LASIK and SMILE (Small Incision Lenticule Extraction), are preferred because their recovery times are very quick, and also they do not bring about much pain.
Some of these procedures are increasingly in vogue, driven by the advancement in laser technology that purportedly enhances the safety and efficacy of the treatment process. Marketing efforts by clinics also inform patients about the benefits of refractive surgery, thereby increasing demand. The use of ophthalmic lasers in refractive surgery is expected to grow steadily upward.
The ophthalmic lasers market is diversified by multiple active game players, and innovators, concerning the emerging demands of healthcare providers and patients. Thus, with the surging demand for more sophisticated eye care treatments, companies are focusing on the intense research and development of laser-based technologies that could be better at delivering positive patient outcomes and more efficient surgeries.
This recent competitive environment has then become their means to expand their portfolios of products and raise their market share through strategic partnerships, mergers, and acquisitions. Emerging new entrants and technological changes in the market are always shaping the market dynamics.
Recent Industry Developments in the Ophthalmic Lasers Market
In terms of product, the industry is divided into excimer lasers and femtosecond laser.
In terms of Application, the industry is divided into refractive surgery, cataract surgery, posterior capsulotomy, trabeculoplasty, and diagnostic.
In terms of End Users, the industry is divided into hospitals (500 Bedded+, 250-499 Bedded, and Less than 250), ambulatory surgical centers, and ophthalmology clinics.
Key countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East and Africa (MEA) have been covered in the report.
The global ophthalmic lasers industry is projected to witness CAGR of 4.8% between 2024 and 2034.
The global ophthalmic lasers industry stood at USD 932.1 million in 2023.
The global ophthalmic lasers industry is anticipated to reach USD 1,561.0 million by 2034 end.
Japan is expected to show a CAGR of 2.0% in the assessment period.
The key players operating in the global ophthalmic lasers industry are Abbott Medical Optics, Inc., Alcon Inc. (Novartis AG), Bausch & Lomb Incorporated, LENSAR, LLC, NIDEK CO. LTD, iVIS Technologies, ZEISS International, Ziemer Ophthalmic Systems AG, and SCHWIND eye-tech-solutions GmbH & Co. KG.
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