ALBANY, New York, March 2, 2017 /PRNewswire/ --
As per a new research study by Transparency Market Research (TMR), the Global Ophthalmic Lasers Market demonstrates a moderately competitive landscape and is led by Alcon, Carl Zeiss, Lumenis Ltd., Ellex Medical Laser Ltd., and Quantel Group. These players, however, hold only a marginal share of this market. In 2015, they collectively accounted for a share of nearly 35% in the overall market.
Over the forthcoming years, the market is likely to experience intense competition due to the entry of large pharmaceutical drugmakers into the market for surgical devices through strategic acquisitions.
According to the research report, the opportunity in the global market for ophthalmic lasers was worth US$0.97 bn in 2015. Rising at a CAGR of 4.60% during the period from 2016 to 2024, the market is likely to increase to US$1.44 bn by the end of the forecast period. Ophthalmic clinics have surfaced as the key end users of ophthalmic lasers across the world and are likely to remain so over the coming years.
Download PDF Brochure of Research Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=20864
North America to Retain Leadership as Asia Pacific Offers Lucrative Opportunities
In terms of geographies, the research report classifies the worldwide market for ophthalmic lasers is classified into Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. In 2016, North America led this market with a share of more than 40%, where the presence of a large pool of established players played the central role.
Over the next few years, with the help of the increasing research and development activities, availability of a well-established regulatory framework for the timely approval of the products, and the presence of a state-of-art healthcare infrastructure, the North America market for ophthalmic lasers is anticipated to continue its leading streak. Asia Pacific, on the other hand, is projected to surface as the most lucrative market for ophthalmic lasers across the world in the near future. China is expected to lead the Asia Pacific market for ophthalmic lasers in the years to come.
The Middle East and Africa and Latin America are also expected to register steady growth in their respective markets for ophthalmic lasers over the forthcoming years, thanks to the remarkable rise in medical tourism and the cost efficiency of laser eye surgeries in these regions. The Latin America market for ophthalmic lasers is projected to be led by Mexico and Columbia while Turkey will emerge as the key domestic market in the Middle East and Africa over the coming years, states the research report.
Rising Awareness Pertaining to Ophthalmic Lasers to Fuel Demand
"The increasing prevalence of vision impairment has the most significant influence on demand for ophthalmic laser surgeries," states a TMR analysts. The incidence of partial as well as complete blindness across the world has been augmenting substantially and is projected to double up by 2020. Cataract, glaucoma, and diabetic retinopathy are the prime cause of blindness in humans and timely medical intervention can avoid these conditions. As ophthalmic laser surgeries provide effective treatment for these conditions, their popularity is rising substantially with the growing awareness about these surgeries among consumers, reflecting greatly on their demand.
In addition to this, the technological advancements in ophthalmic lasers are likely to propel this market substantially over the next few years. However, the absence of an appropriate reimbursement scenario in many economies, specifically the emerging ones, may hamper the growth of this market.
Get Report Sample and Customization:
The study presented here is based on a report by Transparency Market Research (TMR) titled "Ophthalmic Lasers Market - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2016 - 2024."
The global ophthalmic lasers market has been segmented as follows:
- Diode Lasers
- Femtosecond Lasers
- Excimer Lasers
- Nd:YAG Lasers
- Argon Lasers
- SLT Lasers
- Refractive Error Corrections
- Diabetic Retinopathy
By End User
- Ambulatory Surgical Centers
- Ophthalmic Clinics
- North America
- Rest of Europe
- Latin America
- Rest of Latin America
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Browse Related Research Report:
Ophthalmic Ultrasound Device Market (Product - A-Scan, B-Scan, Pachymeter, Combined Scan, and Ultrasound Bio Microscope (UBM); End User - Hospitals, Ambulatory Surgical Centers, Eye Research Institutes, and Ophthalmic Clinics; Modality - Standalone and Portable) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Glaucoma Therapeutics Market (Drug Class - Prostaglandins, Beta Blockers, Combined Medication, Alpha Agonist, Carbonic Anhydrase Inhibitors, and Cholinergic; End User - Hospitals, Ophthalmic Clinics, and Ambulatory Surgical Centers) - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2016 - 2024
Ophthalmic Devices Market - Global Industry Analysis, Size, Share, Growth, and Forecast 2016 - 2024
Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
SOURCE Transparency Market Research