Ophthalmic Photocoagulator Industry Overview
The global ophthalmic photocoagulator market size is expected to reach USD 213.2 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.7% from 2021 to 2028. The global influence of COVID-19 on eye health and the rise in the incidence of increasing ocular diseases, such as diabetic retinopathy and age-related macular edema, are the key factors fuelling the market growth.
Ophthalmic Photocoagulator Market Segmentation
Grand View Research has segmented the global ophthalmic photocoagulator market based on application, wavelength, end use, and region:
Based on the Application Insights, the market is segmented into Glaucoma, Diabetic Retinopathy, Age-related Macular Degeneration, Macular Edema, Others.
- The diabetic retinopathy segment held the largest share of 28.2% in 2020 and is expected to grow at the fastest rate over the forecast period. The prevalence rate as per the American Academy of Ophthalmology, 2019 for retinopathy for all adults with diabetes aged 40 worldwide has been estimated at 34.6% (93 million people).
- Age-related macular degeneration (AMD) held a significant share in 2020. The rising prevalence of retinal problems, the growing elderly population, and increased research and development spending are all expected to drive the macular degeneration therapy market.
- Glaucoma is another important application segment, which occurs when the nerve connecting the eye and the brain is injured, usually as a result of excessive eye pressure. According to the WHO, glaucoma accounts for 4.5 million cases of blindness globally.
- The build-up of fluid in the macula, which is located in the center of the retina, is known as macular edema. The macula swells and thickens as a result of fluid build-up, causing vision distortion. One out of every fourteen people with diabetes suffers from diabetes-related macular edema.
Based on the Wavelength Insights, the market is segmented into Green Scan Laser Photocoagulator, Yellow Scan Laser Photocoagulator, Red Scan Laser Photocoagulator, Multicolor Scan Laser Photocoagulator.
- The green scan laser photocoagulator segment dominated the market and held a share of 33.4% in 2020. The green laser wavelength (532 nm) is considered to be a standard laser as it offers versatile applications and excellent absorption.
- The multicolor scan laser photocoagulator segment is expected to grow at the fastest rate of 5.3% during the forecast period. The multicolor scan laser allows the selection of multiple wavelengths in one versatile machine, making it easier for the surgeons.
- The yellow scan laser photocoagulator (577 nm) is considered to be the safest. The yellow laser marks a turning point in the treatment of diabetic retinopathy since it has proven to be far more successful and safe than traditional green lasers.
Based on the End-use Insights, the market is segmented into Hospitals, Ambulatory Surgery Centres, Ophthalmology Clinics.
- Hospitals held the largest share of 36.4% in 2020 due to the extensive use of ophthalmic lasers in hospital settings. Furthermore, the growing number of hospitals in emerging countries, the improvement of existing eye care infrastructure at government medical colleges and district hospitals, and the construction of new eye care infrastructure are expected to aid the segment growth.
- Ambulatory surgical centers are anticipated to grow at the fastest rate during the forecast period. Ambulatory surgical centers are expected to gain popularity in the years to come due to the convenience, closeness, and reduced costs for patients and insurance.
- The ophthalmic clinics segment is projected to witness considerable growth over the forecast period. The key drivers of the segment include the rising incidence of eye disorders and diabetes and the increasing number of geriatric patients.
Ophthalmic Photocoagulator Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
The market is fragmented with several large and small companies contending. The key players are developing photocoagulators with more choices like color configuration, laser consoles, dual-mode laser cavity, slit lamp optics, and automated positioning of the scan pattern to the next region to undergo photocoagulation to maximize treatment accuracy and efficiency.
Some prominent players in the global ophthalmic photocoagulator market include
- Lumenis
- IRIDEX Corporation
- Alcon Inc.
- Quantel Medical
- NIDEK CO., LTD.
- Johnson Johnson Vision Care, Inc.
- TOPCON CORPORATION
- Bausch Lomb Incorporated
- Meridian Medical Group
Order a free sample PDF of the Ophthalmic Photocoagulator Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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