Ophthalmic Femtosecond Lasers Market Growth is Increasing Because of Increase in Incidence Rate of Cataract

 

Femtosecond laser is an infrared, ultrafast, ultrashort pulse laser with a wavelength of 1053 nm. Femtosecond lasers produce photoionization/photodisruption of the optically transparent tissue such as cornea. These layers have a wide selection of applications in ophthalmic surgery. Ophthalmic femtosecond lasers are used to correct myopia (a common vision condition). The task involves making two lamellar cuts in the cornea that intersect in the periphery, thus developing a lenticule that's removed. Moreover, Ophthalmic Femtosecond Lasers allows doctor to pick the flap thickness and flap diameter, along with cutting angle, diameter, and position of the hinge.

Market Dynamics:

Increasing incidence rate of cataract and growing geriatric population worldwide is likely to propel the growth of the Ophthalmic Femtosecond Lasers Market. The leading reasons for vision impairment and blindness are refractive errors and cataracts. As an example, worldwide, at least 1 billion folks have a near or distance vision impairment that might have been prevented or has yet to be addressed, based on the World Health Organization (WHO).

Moreover, increasing prevalence of ophthalmic disorders, increasing regulatory approvals for ophthalmic lasers, and technological advancements are likely to aid in the growth of the ophthalmic femtosecond lasers market. As an example, in March 2018, Alcon received 510(k) clearance from the U.S. FDA (Food and Drug Administration) for LenSx Laser (a femtosecond laser) for the indication of intracorneal rings and pockets for presbyopia-correcting inlays.

Increasing prevalence of chronic diseases such as diabetes, especially in North America, and initiatives to control visual impairment will also be likely to fuel the growth of the Ophthalmic Femtosecond Lasers Market. As an example, according to American Diabetes Association, in 2018, around 34.2 million Americans, or 10.5% of the population, had diabetes. However, high cost of equipment and therapy is likely to restrain the marketplace growth.

Competitive Analysis:

Major players operating in the ophthalmic femtosecond lasers market are Ziemer Ophthalmic Systems, Carl Zeiss Meditec, Bausch & Lomb, Alcon, LENSAR, Abbott Medical Optics, Newport Corporation, and IMRA America, Inc.

Major players in the market are adopting various strategies, such as product launch, merger and acquisition, etc. to boost their market share. As an example, in 2019, SCHWIND eye-tech-solutions introduced Schwind ATOS, a fresh femtosecond laser with smartsight procedure.

Moreover, in 2018, LENSAR announced the acquisition of Precision Eye Services. This acquisition consolidates the Company's customer base for greater optimization, efficiency, and speed to market.