Global Ophthalmic Lasers Market Set for Remarkable Growth, Projected to Reach USD 1,561.0 Million by 2034, Driven by Rising Eye Disorders and Demand for Non-Invasive Treatments | FMI

The global ophthalmic lasers market is poised for significant growth in the coming decade, with sales expected to rise steadily at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2034. According to a recent market analysis, the global sales of ophthalmic lasers are estimated to be valued at USD 976.8 million in 2024, with expectations to reach an impressive USD 1,561.0 million by 2034.

The market has already shown strong performance, generating a revenue of USD 932.1 million in 2023. The consistent upward trajectory of the ophthalmic lasers market is being driven by several key factors, including advancements in laser technology, a growing demand for precise and minimally invasive eye surgeries, and a rising global prevalence of vision disorders such as glaucoma, cataracts, and retinal diseases.

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Technological Innovations Fuel Growth

The continued evolution of laser technology plays a pivotal role in the growth of the ophthalmic lasers market. Innovations are enhancing treatment precision, reducing recovery times, and improving patient outcomes. This has led to increased adoption of ophthalmic laser treatments by healthcare professionals worldwide. As technology continues to advance, ophthalmic lasers are becoming essential tools for treating a wide range of eye conditions, offering patients improved safety and faster recovery.

Growing Demand for Eye Disorder Treatments

The rising incidence of vision-related disorders, including glaucoma, cataracts, and age-related macular degeneration (AMD), is significantly driving the demand for ophthalmic lasers. These lasers are increasingly recognized for their ability to deliver highly accurate and effective treatments for patients with chronic eye diseases. As the global population ages and the prevalence of eye conditions continues to rise, ophthalmic lasers are set to become indispensable in the management and treatment of various vision disorders.

Healthcare Investments Driving Market Expansion

Both public and private sectors are making substantial investments in healthcare infrastructure, particularly in ophthalmology. These investments are not only enhancing access to advanced ophthalmic treatments but are also accelerating the adoption of cutting-edge laser technologies across the globe. As healthcare providers continue to prioritize patient-centered treatments, the demand for ophthalmic lasers is expected to expand rapidly.

“The ophthalmic lasers market is entering a promising phase as technological innovations and expanding clinical applications enhance treatment efficacy and patient outcomes,” says opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI). “The rising prevalence of conditions such as glaucoma, diabetic retinopathy, and age-related macular degeneration is expected to fuel demand for these devices, positioning the market for sustainable growth over the next decade.”

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Key Takeaways: Ophthalmic Lasers Market Outlook (2024–2034)

• India: Leading the growth with a projected CAGR of 5.4%, driven by increasing healthcare access and rising awareness of vision correction.
• China: Close behind at 4.8% CAGR, with expanding adoption of mobile and portable laser systems enhancing rural access to eye care.
• South Korea: Notably strong at 3.8% CAGR, reflecting high healthcare standards and technological adoption.
• Germany, France, UK: Each at 1.7% CAGR, indicating steady demand in mature markets.
• USA: At 1.5% CAGR, showing stable but slower growth compared to emerging markets.​

Market Leadership: Excimer Lasers

• Dominance: Excimer lasers hold over 60% of the global market share in 2024.
• Applications: Predominantly used in refractive surgeries like LASIK and PRK, excimer lasers offer precise corneal tissue ablation, enabling rapid recovery and minimal discomfort.
• Technological Advancements: Innovations such as wavefront-guided treatments allow for personalized laser corrections, enhancing surgical outcomes.​

Refractive Surgery: Primary Application Area

• Market Share: Refractive surgery accounts for 69.7% of the ophthalmic lasers market.
• Procedures: Techniques like LASIK and SMILE are preferred due to their quick recovery times and minimal pain, contributing to their widespread acceptance.
• Patient Preference: The demand for vision correction procedures is a key driver for the excimer laser segment.​

Competitive Landscape:

The ophthalmic lasers market features a diverse range of active players and innovators responding to the evolving needs of healthcare providers and patients. As demand for advanced eye care treatments rises, companies are intensifying their research and development efforts to create laser-based technologies that promise improved patient outcomes and more efficient surgical procedures.

This competitive landscape has become a catalyst for companies to expand their product portfolios and increase market share through strategic partnerships, mergers, and acquisitions. Additionally, the entry of new players and ongoing technological advancements continuously shape market dynamics.

Recent Industry Developments in the Ophthalmic Lasers Market

• In January 2024, Iridex launched its next-generation platforms, Iridex 532 and Iridex 577 lasers, in the U.S. market.
• In January 2022, Alcon, a global leader in eye care, completed its acquisition of Ivantis, Inc., a move aimed at bolstering its global ophthalmology portfolio.

Key Players of the Ophthalmic Lasers Industry:

• Abbott Medical Optics, Inc.
• Alcon Inc. (Novartis AG)
• Bausch & Lomb Incorporated
• LENSAR, LLC
• NIDEK CO., LTD
• iVIS Technologies
• ZEISS International
• Ziemer Ophthalmic Systems AG
• SCHWIND eye-tech-solutions GmbH & Co. KG.

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Key Segments of the Ophthalmic Lasers Industry:

By Product:

In terms of product, the industry is divided into excimer lasers and femtosecond laser.

By Application:

In terms of Application, the industry is divided into refractive surgery, cataract surgery, posterior capsulotomy, trabeculoplasty, and diagnostic.

By End User:

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.

By Region:

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 Future of Vision Care

The projected growth of the ophthalmic lasers market is expected to transform the landscape of vision care, providing healthcare professionals with state-of-the-art tools to deliver more effective and personalized treatments. With technological advancements, the market is well-positioned to enhance the quality of life for patients worldwide while improving treatment outcomes and recovery times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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