Global Ophthalmic Photocoagulator Market by Wavelength (Multicolor Scan, Green Scan), by Application (Macular Edema, Diabetic Retinopathy, Glaucoma) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global ophthalmic-photocoagulator market was valued at USD 150.6 Million in 2020. It is expected to grow at a compound annual rate (CAGR of 4.7%) between 2021 and 2028. Major contributors to market growth are the rising prevalence of ocular diseases, diabetes, age-related complications, and COVID-19's global impact on eye health. Because it is painless, safe, and quick, photocoagulation is preferred over other therapies such as surgery and drugs. Because of the increasing number of geriatric patients, there is a growing demand for Ophthalmic Lasers. This population is more likely to develop age-related ophthalmic problems. The National Institute on Aging (NIA) estimates that the geriatric population will reach 72 million by 2030. Market growth is expected to be driven by rising diabetes prevalence and diabetic-related blindness. The WHO reports that the number of people living with diabetes has increased from 108 million to 422 millions in 1980 to 422 million in 2014.

COVID-19 has had a significant impact on healthcare and has impacted many routine medical practices including ophthalmology. Because ophthalmology involves close contact during treatment and examinations, this increases the chance of infection. Patients who visit ophthalmology clinics have a high risk of infection and are at higher risk. These factors will likely limit the use of certain ophthalmology procedures such as photocoagulation and thus hinder market growth.

The market will be driven by advances in laser technology, such as color configuration, high contrast, color configuration lasers, spot sequences, conventional therapy with single pulses or spot sequences, gentle treatment with short pulses, gentle therapy using short pulses, and automated scanning of the scan pattern to the next area to undergo photocoagulation. These advances allow for faster, safer and more precise treatment of optical diseases. Other factors, such as intensive R&D in laser eye-care, growing concerns about vision-health management and an increase number of ophthalmic hospitals and clinics, all contribute to the market's expansion. The market growth will be slowed by the risks of vision loss from photocoagulation, improper device handling, a lack of knowledge about modern procedures, a lack of improved diagnostics in developing countries, and high medical equipment maintenance costs.

Application Insights

The segment of diabetic retinopathy held the largest share at 28.2% in 2020. It is expected to grow the fastest over the forecast period. According to the American Academy of Ophthalmology 2019, the prevalence rate for retinopathy in adults with diabetes over 40 years old has been calculated at 34.6% (93,000,000 people). As the Indian Institute of Public Health-Hyderabad(IIPH-Hyderabad) reports, owing to lifestyle changes, more young adults and adolescents are developing diabetes. These people are at high risk for developing diabetic complications such as diabetic macular edema and diabetic retinopathy. Laser photocoagulation has been shown to improve the visual outcomes in diabetic retinopathy patients. Advanced photocoagulators are needed to treat diabetic retinopathy because of its high prevalence and expected rise during the forecast period.

A significant portion of 2020's market was held by age-related macular disease (AMD). Market growth is expected to be driven by the increasing prevalence of retinal issues, growing older population, and increased research-and-development spending. There are two types of AMD: dry AMD and wet AMD. Only the wet form has abnormal blood vessel growth. Only certain individuals with wet AMD can opt for laser photocoagulation. It can also cause total blindness in rare cases. This could slow down the growth of the segment during the forecast period.

Glaucoma, also known as excessive eye pressure, is another important segment. It is a condition in which the nerve connecting the eyes and the brain gets damaged. Globally, glaucoma is responsible for approximately 4.5 million cases. Glaucoma prevalence is strongly linked to age. The second leading cause of blindness in the United States is glaucoma. It is also known as "Silent Thief Of Sight" (behind macular damage). Lasers can be used to increase slow blood flow, reduce glaucoma patient's slow blood production, and treat obstructions in internal aqueous flow. This will drive the segment's growth.

Macular edema is the accumulation of fluid in the macula. It is located at the center of the retina. Fluid buildup causes macular edema, which results in vision distortion. The macula thickens and swells. Diabetes-related macular swelling affects one in fourteen diabetics. The International Diabetes Federation estimates that diabetes macular edema is affecting more than 28 million people worldwide. Market growth is expected to be aided by the increasing use of photocoagulation to treat macular edema.

Wavelength Insights

In 2020, the market was dominated by the green scan laser photocoagulator segment. It held 33.4% of the market share. The standard wavelength of the green laser (532nm) is considered a standard laser because it has many applications and good absorption. The green light is absorbed by the pigmented tissues of the eyes, which can be used to treat many ophthalmic conditions such as glaucoma, diabetic retinopathy, and age-related macular damage. The green laser is often used to treat these conditions.

The fastest growth rate for the multicolor scan laser photocoagulator segment will be 5.3% over the forecast period. Multicolor scan lasers allow surgeons to select multiple wavelengths from one machine. The most commonly used wavelengths are 577 nm Yellow, 647 nm Red, and 532 nm Green. You can also combine any two or all three of these wavelengths. Market players are also developing multicolor scan laser photocoagulators for treating retinal disease. This segment is expected to grow.

The yellow scan laser photocoagulator (577nm) has been deemed the most safe. Since it is far safer and more effective than traditional green lasers, the yellow laser represents a significant breakthrough in diabetic retinopathy treatment. Because the yellow wavelength is much less visible than the green laser, the macula pigment absorbs a small amount of the yellow wavelength. This will allow for segment growth. The yellow scan photocoagulator's advantages and lack of awareness may prevent it from being adopted during the forecast period.

End-use Insights

Due to the widespread use of ophthalmic lasers in hospitals, the 36.4% share held by hospitals was the highest in 2020. The segment's growth is expected to be supported by the increasing number of hospitals in emerging nations, the improvement and construction of new infrastructure for eye care, as well as the increase in the number of eye care facilities at district and government hospitals.

The forecast period will see the fastest growth in the number of ambulatory surgical centers. Because of their convenience, accessibility, and lower costs for patients and insurers, ambulatory surgical centers will continue to grow in popularity. Patients may find it easier to use ambulatory surgical centers than OPDs at hospitals, as they can schedule their surgery faster.

Over the forecast period, there will be significant growth in the ophthalmic clinics sector. This segment is driven by the growing incidence of eye diseases and diabetes, as well as the increasing number of elderly patients. The market's expansion will be limited by the lack of qualified specialists to handle the complex use of ophthalmic Lasers.

Regional Insights

North America was the dominant market, capturing 34.0% of the 2020 share. High stress levels and unhealthy lifestyles are key drivers of the North American market. This is why chronic eye diseases such as diabetic retinopathy and age-related macular swelling are increasing in number. The International Diabetes Federation (IDF) estimates that the United States has the highest prevalence of diabetes among all 38 developed countries. It is home to approximately 30 million people. The market growth is expected to be aided by the rapid increase in North American seniors. In 2015, more than 46 million people aged 65 or older lived in the United States. By 2050, this number will be more than 90 million.

Asia Pacific is forecast to grow at 6.9%, the fastest pace in the forecast period. This region is experiencing an increase in the incidence of eye diseases such as glaucoma and age-related macular disease. In recent years, the WHO South-East Asia Region made great efforts to improve access to high-quality eye health services in order to ensure universal health coverage. The APAC region is expected to see a significant increase in market growth due to the large patient base and increasing use of ophthalmic procedures such as photocoagulation for treatment of optical disorders.

European countries with high per capita incomes and defined healthcare policies, such as Germany, France and the U.K. are experiencing a rapid increase in demand for advanced ophthalmic photoscopators. This is due in part to an increase in diabetes-related eye disorders and glaucoma, and an increase in the number of elderly people. The European Region is home to approximately 60 million people with diabetes, according to the World Health Organization. According to the NCBI, Europe's population with early and later AMD will range from 14.9-21.5million to 3.9-4.8million by 2040. The market will grow due to technological advancements and large investments in healthcare research.

Market Share Insights & Key Companies

There are many small and large companies competing in this market. To maximize treatment efficiency and accuracy, the key players in the market are creating photocoagulators that offer more options, such as color configuration, laser consoles and dual-mode laser cavities, slit lamps optics and automated positioning of the scan pattern to the next area to be photocoagulated.

Key market players have different strategies to stay competitive in this market. These include mergers and acquisitions as well as collaborations and partnerships. Quantel Medical has acquired Ellex, which includes its laser technology solutions. They have a long history of working together in the development and implementation of advanced technologies to treat glaucoma and other eye diseases, such as AMD, glaucoma, diabetic retinopathy, and cataracts. These are the most common causes of blindness worldwide. The following are some of the major players in the global market for ophthalmic photoscoagulators:

• Lumenis

• IRIDEX Corporation

• Alcon Inc.

• Quantel Medical

• NIDEK CO. LTD.

• Johnson & Johnson Vision Care, Inc.

• TOPCON CORPORATION

• Bausch & Lomb Incorporated

• Meridian Medical Group

Up Market Research published a new report titled “Ophthalmic Photocoagulator Market research report which is segmented by Wavelength (Multicolor Scan, Green Scan), by Application (Macular Edema, Diabetic Retinopathy, Glaucoma), By Players/Companies Alcon Inc, Quantel Medical, Meridian Medical Group, Lumenis, Johnson & Johnson Vision Care Inc , TOPCON CORPORATION, IRIDEX Corporation, NIDEK CO LTD , Bausch & Lomb Incorporated”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Ophthalmic Photocoagulator Market Report Segments:

The market is segmented by Wavelength (Multicolor Scan, Green Scan), by Application (Macular Edema, Diabetic Retinopathy, Glaucoma).

Ophthalmic Photocoagulator Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Ophthalmic Photocoagulator Market

Overview of the regional outlook of the Ophthalmic Photocoagulator Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Ophthalmic Photocoagulator Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Ophthalmic Photocoagulator Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Multicolor Scan

                2. Green Scan

                1. Macular Edema

                2. Diabetic Retinopathy

                3. Glaucoma

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Ophthalmic Photocoagulator Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Ophthalmic Photocoagulator Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.