Global Refractive Laser Devices Market: By Product Type (Ophthalmic Lasers, Microkeratome), By Application (Refractive Error Corrections, Cataract Removal, Diabetic Retinopathy, Others), By Distribution Channel (Hospitals, Ophthalmic Clinics), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2017 and Forecast 2018 to 2024
Global refractive laser devices market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over the 2018 to 2024.
Market Outline: Refractive Laser Devices Market
Refractive surgery is the method used for correcting or improving the vision. It involves various surgical procedures for correcting or improving the eye’s ability of focusing by reshaping the cornea. The most widely used procedure for refractive surgery is LASIK (laser-assisted in suit kerotomileusis), where a laser is used in order to reshape the cornea. The nearsighted people, certain refractive surgery techniques reduce the curvature of the cornea which is steep so that the focusing power of the eye is lessened. There are certain refractive surgery procedures farsighted people where the steeper cornea will increase the eye’s focusing power. Astigmatism can also be corrected using the refractive surgery techniques.
Market Dynamics: Refractive Laser Devices Market
Increase in the prevalence of refractive disorders is the major factor driving the refractive laser devices market. The technological advancements is expected to boost the growth of refractive laser devices market. The elimination of dependency on glasses and contact lenses is anticipated to attract the patient pool which is expected to enhance the growth of refractive laser devices market. The increasing healthcare facilities is allowing the patients in adaptation of treatment is expected to increase the growth of refractive laser devices market. However, the high cost involved in the treatment procedures coupled with availability of limited pool of qualified refractive surgeons are major restrains of refractive laser devices market.
Market Scope: Refractive Laser Devices Market
Refractive laser devices market is segmented based on the product type, technology, disease indication, and distribution channel
Based on the product type, the market is segmented into the following:
- Ophthalmic Lasers
- Femtosecond Lasers
- Eximer Lasers
Based on the application, the market is segmented into the following:
- Refractive Error Corrections
- Cataract Removal
- Diabetic Retinopathy
Based on the distribution channel, the market is segmented into the following:
- Ophthalmic Clinics
Regional Analysis: Refractive Laser Devices Market
Geographically, global refractive laser devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America refractive laser devices market is expected to account for dominate revenue share due to increase in the eye disorders, deep-rooted healthcare infrastructure. The awareness about the advanced treatment procedures among the patient pool is expected to create demand for refractive laser devices market. Europe refractive laser devices market is expected to grow at notable CAGR due to high adoption of advanced technologies. The Asia Pacific refractive laser devices market is anticipated to show a lucrative growth due to its increasing number of optical surgeries.
Competition Assessment: Refractive Laser Devices Market
Some of the players in the global refractive laser devices market include:
- Bausch & Lomb Incorporated (U.S.)
- Ziemer Ophthalmic Systems AG (Switzerland)
- Alcon Laboratories, Inc. (U.S.)
- Carl Zeiss Meditec AG (Germany)
- Ellex Medical Lasers Limited (Australia)
- Lumenis Ltd. (Israel)
- Topcon Corporation (Japan)
- NIDEK Co., Ltd. (Japan)
Notable Market Developments: Refractive Laser Devices Market
- In October 2017, opcon Medical Systems, Inc. announced that its PASCAL Synthesis TwinStar laser (combined 577Nm and 638Nm) has received FDA 510(k) clearance.
Key Features of the Report:
- The report covers exhaustive regional information, that includes North America (the USA and Canada), Europe (Germany, France, Italy, UK, Spain, Russia, Poland and Rest of Europe), Asia-Pacific (Japan, China, India, Australia & New Zealand, ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others), South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentian, Venezula, and Rest of Latin America), and Middle East and Africa (Gulf Cooperation Council (GCC) Countries, Israel, South Africa, and Rest of Middle East and Africa)
- The report provides granular level information about the market size, regional market share, historic market (2013-2017) and forecast (2018-2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market