Global Ophthalmic Medical Lasers Market Forecast To 2023

The global ophthalmic medical lasers market is expected to decline from $1.15 billion in 2019 to $1.09 billion in 2020 at a compound annual growth rate (CAGR) of -5.44%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.28 billion in 2023 at a CAGR of 5.44%. The rise in the incidence of ocular disease that requires laser treatment contributes to the growth of the ophthalmic medical lasers market. However, the availability of alternative therapies for vision correction is expected to hinder the ophthalmic medical lasers market.

The ophthalmic medical lasers market consists of sales of ophthalmic medical lasers and related services by companies that manufacture them. Ophthalmic medical lasers are used for pain-free treatment of diseases related to the eyes.

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The global ophthalmic medical lasers market is further segmented based on type and geography.
By Product: Diode Lasers, Femtosecond Lasers, Excimer Lasers Aromatherapy, ND:Yag Lasers, Others
By End User: Hospitals, Specialty Clinics and Ambulatory Surgery Centers
By Application: Refractive Error Correction, Cataract Removal, Diabetic Retinopathy, Glaucoma, Age-Related Macular Degeneration, Others.
By Geography: The global ophthalmic medical lasers market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Trends In The Ophthalmic Medical Lasers Market
Companies are investing in manufacturing devices that incorporate next-generation technology to treat ocular diseases. For instance, in Feb 2020, IRIDEX Corporation, an innovative ophthalmic laser-based medical products provider for the treatment of glaucoma and retinal diseases has launched the second generation of the MicroPulse P3® Device that gives greater stability, visualization, coupling, and fit.
Ophthalmic Medical Lasers Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides ophthalmic medical lasers market overviews, analyzes and forecasts ophthalmic medical lasers market size and growth for the global ophthalmic medical lasers market, ophthalmic medical lasers market share, ophthalmic medical lasers market players, ophthalmic medical lasers market size, ophthalmic medical lasers market segments and geographies, ophthalmic medical lasers market trends, ophthalmic medical lasers market drivers and ophthalmic medical lasers market restraints, ophthalmic medical lasers market’s leading competitors’ revenues, profiles and market shares. The ophthalmic medical lasers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.