The global ophthalmic laser market is projected to be worth more than $2 billion by 2030 with a compound annual growth rate of 5.5 percent, a study by Growth Plus Reports said.
Two main reasons for growth are the prevalence of ocular disease and advancement in ophthalmology, particularly with laser procedures, according to the report.
The study covered market leaders in product, application and end users. It also noted the most prominent regions for the ophthalmic laser market.
For products, laser technology and procedures are leading the market. Excimer lasers, femtosecond lasers, Nd: YAG lasers, diode lasers were studied for the report, with femtosecond lasers having the largest market share for product.
The four areas of application identified by the study are cataract removal, glaucoma treatment, diabetic retinopathy treatment and refractive error correction, with the latter having the largest market share prominence because of an increase in cases. Glaucoma is expected to increase during the forecast period.
End users were divided into three categories: hospitals, ambulatory surgery centers and eye clinics. Hospitals have remained the dominant market share group, according to the study.
The study divided the market for ophthalmic lasers into four regions: North America, Europe, Asia Pacific and the rest of the world. North America topped the market in terms of regions because of aging population, robust healthcare infrastructure and high prevalence of eye disease.