In recent research report by QY Research, titled, “Global (United States, European Union, and China) Ophthalmic Femtosecond Lasers Market Research Report 2019-2025”, analysts have focused on the several areas of the global ophthalmic femtosecond lasers market. They have studied geographical outlook, market size, segment analysis, key players, drivers and restraints, and the competitive landscape. Researchers have used secondary and primary data to analyze the market. The report also includes Porter’s five force model and SWOT analysis to understand market dynamics.
According to the report, the global ophthalmic femtosecond lasers market is predicted to reach US$418.74 mn by 2025 from US$260.37 mn in 2018. The market will register a CAGR of 6.91% by 2025.
Adoption of Femtosecond Lasers in Cataract Surgeries Drives Demand for Global Market
The global ophthalmic femtosecond lasers market is expanding due to technological advancements in laser-based devices. The growing elderly population will influence the demand for cataract devices, which will drive the growth of the market. The rising popularity of femtosecond laser aided cataract surgery is the key trend in this market. Femtosecond laser technology has been broadly been used by ophthalmic surgeons for refractive surgeries, cataract surgeries, and corneal surgeries due to various advantages over conventional techniques.
In recent years, femtosecond laser techniques have gained popularity for cataract surgeries. The use of laser-based microscopic techniques with adaptive optics helps ophthalmologist in detecting glaucoma and other eye problems with efficiency. These factors are expected to augment the demand for ophthalmic femtosecond lasers in the coming years.
Global Ophthalmic Femtosecond Lasers Market: Segment Analysis
The global market for ophthalmic femtosecond lasers is segmented into product type and application. The product type segment includes half femtosecond and full femtosecond. The application segment includes ophthalmology clinics, hospitals, and ambulatory surgical centers.
Global Ophthalmic Femtosecond Lasers Market: Regional Outlook
North America holds the largest share over the forecast period due to high prevalence of cataract. To treat the growing geriatric population, manufacturers are developing technologically advanced and innovative products, which is expected to propel the growth of the ophthalmic femtosecond lasers market in the near future. Asia Pacific is also expected to grow due to expanding healthcare industry and the rising research and development activities in this region.
Global Ophthalmic Femtosecond Lasers Market: Key Players
The major players that are operating in the global market for ophthalmic femtosecond lasers are Lensar, Carl Zeiss Meditec, Bausch and Lomb (Valeant), Alcon (Novartis), Ziemer Ophthalmic, and J &J
Global Ophthalmic Femtosecond Lasers Market: Competitive Landscape
Johnson & Johnson is one of the largest health care company across the world. The company operates into three segments such as consumer products, pharmaceutical products, and medical devices. In September 2018, the company launched iDESIGN Refractive Studio for the next generation of the personalized LASIK treatment.