Global Ophthalmic Lasers Market Report and Forecast 2024-2032

Ophthalmic Lasers Market Size

The global ophthalmic lasers market was valued at USD 1.3 billion in 2023 due to the increasing prevalence of eye disorders across the globe. The market is expected to grow at a CAGR of 6.23% during the forecast period 2024-2032 and attain a market value of USD 2.2 billion by 2032. 

Ophthalmic Lasers Market Outlook

• The market is expected to grow during the forecast period driven by laser technology advancements, and the growing aging population.

• According to the World Health Organization around 2.2 billion people are globally experiencing vision impairment. The increasing prevalence of eye disorders is expected to boost the demand for ophthalmic lasers in the forecast period.

• Increasing awareness regarding eye care and access to medical resources is one of the major trends, influencing the market landscape significantly.

Ophthalmic Lasers Market Overview

Ophthalmic lasers are precise medical instruments used to treat various eye conditions through precise and cautious delivery of laser energy. The utilization of ophthalmic lasers has transformed the delivery of eye care, providing less intrusive therapies for various eye issues. These advanced medical devices use focused light energy to treat and manage eye conditions, offering significant advantages over traditional surgical methods. The primary benefits of ophthalmic lasers include higher precision, faster recovery times, and reduced complications risks.

Various ocular treatments utilize a variety of ophthalmic lasers such as excimer, femtosecond, and diode lasers. Excimer lasers are used in procedures such as laser-assisted in situ keratomileusis (LASIK) and photorefractive keratectomy (PRK) to fix refractive errors with accuracy and minimal harm to tissues. Femtosecond lasers are also helpful in cataract surgery and corneal procedures, while diode lasers are used in treating retinal disorders.

Eye treatments such as fixing refractive errors heavily rely on ophthalmic lasers. These methods effectively modify the shape of the cornea and decrease the need for glasses or contacts. Laser accuracy enables quicker healing and enhanced eyesight. Laser-assisted methods in cataract surgery improve incision safety and post-operative results. Laser treatments such as trabeculoplasty and iridotomy offer minimally invasive alternatives for glaucoma, allowing for rapid recovery. Laser therapy is also used in treating diabetic retinopathy to protect vision in the retinal treatments.

Ophthalmic Lasers Market Growth Drivers

Rising Prevalence of Eye Disorders

The market growth is driven by the rising incidence of eye conditions such as cataracts, glaucoma, and diabetic retinopathy. Ophthalmic lasers provide less invasive and accurate treatment choices, enhancing patient results and decreasing healing durations. LASIK is a commonly used option for vision correction because of its effectiveness and rapid healing process. In 2023, the World Health Organization stated that 2.2 billion individuals globally are experiencing vision impairment. Out of which, around 1 billion cases could have been avoided. The increase in diabetes and hypertension rates, along with the aging population, also play a major role in boosting the market value.

Technological Advancements to Meet Rising Ophthalmic Lasers Market Demand

Advances in technology have revolutionized treatments. It enhances precision, safety, and outcomes for patients. Innovations like femtosecond lasers improve the accuracy and minimally invasive nature of surgeries. Procedures like selective laser trabeculoplasty (SLT) offer non-surgical options for glaucoma treatment, while the pattern scanning laser (PASCAL) improves retinal therapies with precise laser burns. Imaging tools like optical coherence tomography (OCT) are useful to improve visualization during procedures. Portable laser systems offer various qualities in ophthalmology care such as increased accessibility in various settings, meeting the growing demand for effective, precise, and user-friendly solutions. In January 2024, the FDA approved the Teneo Excimer Laser made by Bausch + Lomb. This device can enhance the vision correction for nearsightedness and astigmatism. The device uses cutting-edge software to monitor eye movement at a speed of 500 Hz which is the highest in the United States.

Ophthalmic Lasers Market Trends

The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:

Growing Adoption of Minimally Invasive Procedures

The global market for ophthalmic lasers is experiencing a rising preference for minimally invasive procedures. It provides various advantages such as shorter recovery periods, decreased complications, and better results for patients. It is being used in various treatments such as cataract surgery, glaucoma treatment, and diabetic retinopathy due to its minimally invasive process. An example is Selective Laser Trabeculoplasty (SLT ), which is a minimally invasive procedure that uses laser energy to specifically target certain cells in the eye's drainage system. This method lowers intraocular pressure, aiding in effective glaucoma management for patients.

Rising Geriatric Population

The increasing elderly population has a substantial influence on the global ophthalmic lasers market. They are at higher risk for eye conditions such as age-related macular degeneration (AMD), diabetic retinopathy, and glaucoma. With the help of advanced laser technology, healthcare professionals can more effectively treat age-related eye conditions and enhance vision for elderly individuals. Moreover, the rise in chronic diseases in older people such as diabetes and hypertension, which can damage the eye vision also elevates the demand for specific eye treatments. This is leading to an advancement in eye healthcare services to address the requirements of elderly individuals.

Increasing Awareness and Accessibility

Growing awareness about eye health issues such as glaucoma and diabetic retinopathy has led to a higher request for laser therapies. Health organizations and professionals have a major role in spreading information about the advantages of early intervention using laser technology. The advancement in technology also helps to make the treatment cost-effective which also increases their availability and demand. Enhanced healthcare infrastructure, such as mobile health units and telemedicine, is helping to reach marginalized populations and promote inclusive eye care globally.

Government Initiatives and Support

Government support is crucial in the ophthalmic lasers market. Efforts consist of financial support for research, incentives for equipment, and public health promotions to promote awareness of eye health, acknowledging the growing impact of eye diseases.

Ophthalmic Lasers Market Segmentation

Market Breakup by Product

• Excimer Lasers

• Femtosecond Lasers

• Diode Lasers

• Nd:Yag Lasers

• Others

Market Breakup by Application

• Refractive Error Correction

• Diabetic Retinopathy

• Glaucoma Surgery

• Age-Related Macular Degeneration (AMD) Treatment 

• Others

Market Breakup by End User

• Hospitals

• Specialty Clinics

• Ambulatory Surgical Centers

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Ophthalmic Lasers Market Share

Market Segmentation Based on Products to Witness Substantial Growth

The market segmentation based on the product includes excimer lasers, femtosecond lasers, diode lasers, Nd: YAG lasers, and others. Out of these, excimer lasers are expected to lead the market during the forecast period due to their precision in correcting vision problems through surgeries like LASIK and PRK. Excimer lasers can reshape the cornea with minimal invasiveness allowing for personalized treatments based on individual eye measurements, leading to high success rates and quick recovery times. Patients appreciate the minimal discomfort associated with excimer laser surgeries. With a history of safety and efficacy, excimer lasers are highly preferred by ophthalmic surgeons and patients, solidifying their position in the global market.

Ophthalmic Lasers Market Analysis by Region

Based on region, the market report covers North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

North America is expected to dominate the market driven by its robust healthcare system and research and development investments. Demand for innovative laser treatments is fueled by the rising incidence of age-related eye conditions and diabetic retinopathy in the region. The region's substantial market share is the result of technological progress and an emphasis on top-notch eye care. In May 2024, STAAR Surgical and IQ Laser Vision made a strategic deal in the United States. This partnership seeks to establish EVO ICL lenses as a top choice for individuals looking to improve their vision.

Europe is also poised to have a significant market share because of the elderly population and strong healthcare system. Countries like Germany, France, and the UK are at the forefront with an emphasis on minimally invasive procedures and technological advancements. The market is influenced by increased awareness of eye health and advancements in laser technology, as well as by economic disparities and regulations.

The market in the Asia-Pacific region is rapidly expanding due to healthcare funding, urban growth, and increasing incidence of eye conditions. Healthcare access and demand for advanced solutions fuel growth in China, India, and Japan. Expansion is aided by the region's sizable population and enhanced infrastructure, yet challenges arise from disparities and restricted resources in certain areas.

Leading Players in the Global Ophthalmic Lasers Market

The key features of the market report include patent analysis, grant analysis, funding, and investment analysis as well as strategic initiatives including recent partnerships and collaborations by the leading players. The major companies in the market are as follows:

Alcon Laboratories, Inc.

Alcon Inc. is a Swiss-American company that specializes in eye care. It was established in 1945 It is active in the ophthalmic surgery and vision care sectors, ranking as the largest eye care equipment company worldwide. Alcon recently acquired BELKIN Vision to broaden its range of glaucoma products by adding the Direct Selective Laser Trabeculoplasty (DSLT) device, which is also called EagleTM. This equipment employs a Q-switched Nd: YAG laser to address glaucoma without making direct contact with the patient's eye.

Carl Zeiss Meditec AG

The subsidiary Carl Zeiss Meditec AG, established in 2002 in Jena, Germany, manufactures medical instruments for eye examinations, medical lasers, and products for different medical sectors, as part of Carl Zeiss AG. In January 2024, the United States FDA gave the go-ahead for the use of ZEISS' VISUMAX 800 with SMILE pro software to correct nearsightedness. This new femtosecond laser technology provides quicker treatment, decreased procedure duration, and increased versatility for both surgeons and patients.

Bausch & Lomb Incorporated

Bausch & Lomb produces eye health products. It is a top supplier worldwide of contact lenses, lens care products, pharmaceuticals, and eye surgery products. In January 2024, the FDA approved the use of the TENEO Excimer Laser Platform in LASIK surgery for myopia and myopic astigmatism. The platform's sophisticated eye-tracker guarantees accurate results, using a high-speed laser for effective therapy.

Iridex Corporation

IRIDEX Corporation is a global producer of laser medical devices and tools used in the field of ophthalmology. It was established in 1989 and has its headquarters in California, United States. In January 2024, the Iridex 532 and Iridex 577 lasers were launched in the US. It has various qualities such as therapy reports, pre-set filters, a touchscreen interface to improve user interaction, and MicroPulse innovation for treating retinal and glaucoma issues.

Other players in the market include Ellex Medical Lasers Limited, Nidek Co., Limited, Ocular Instruments, Quantel Inc., and Ziemer Ophthalmic Systems AG.

Key Highlights of the Report

Key Questions Answered in the Ophthalmic Lasers Market Report

• What was the global ophthalmic lasers market value in 2023? 
• What is the global ophthalmic lasers market forecast outlook for 2024-2032? 
• What are the regional markets covered in the EMR report?
• What is market segmentation based on product? 
• What is market segmentation based on application? 
• What are the major factors aiding the global ophthalmic lasers market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years? 
• Who are the major end-users in the market?
• What are the major drivers, opportunities, and restraints in the market?  
• What are the major trends influencing the market?  
• Which regional market is expected to dominate the market share in the forecast period?  
• Which country is likely to experience elevated growth during the forecast period?  
• Who are the key players involved in the global ophthalmic lasers market? 
• What are the current unmet needs and challenges in the market? 
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?