Ophthalmic Photocoagulator Market Share, and Competitive Landscape Report to 2028

Ophthalmic Photocoagulator Industry Overview

The global ophthalmic photocoagulator market size was valued at USD 150.6 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2021 to 2028.

The rise in the prevalence of ocular disorders, diabetes, and age-related ophthalmic complications and the global impact of COVID-19 on eye health are major contributors to the market growth. Photocoagulation is a preferred therapy above others, such as drugs and surgery, since it is a reasonably safe, quick, and painless process. The expanding geriatric population is driving the demand for ophthalmic lasers as this population is more susceptible to developing age-related ophthalmic complications. According to the National Institute on Aging (NIA), the geriatric population would be about 72 million individuals by 2030. The rising prevalence of diabetes and diabetes-related blindness is expected to drive the market. According to the WHO, the number of people with diabetes increased to 422 million in 2014 from 108 million in 1980.

Gather more insights about the market drivers, restrains and growth of the Global Ophthalmic Photocoagulator Market

COVID-19 has had a profound impact on the healthcare system and has interfered with various routine medical practices, including ophthalmology. This is because ophthalmology requires close contact during an examination and treatment, which, in turn, increases the risk of infection. Additionally, patients visiting the ophthalmology clinics are high-risk individuals and are prone to infections. These factors are expected to restrict the adoption of various ophthalmology procedures, such as photocoagulation, thus expected to hinder the market growth.

Advancements in laser technology such as pattern scanning lasers, color configuration, high contrast, slit lamps, conventional therapy with single pulses and spot sequences, gentle therapy with short pulses, and automated positioning of the scan pattern to the next region to undergo photocoagulation are expected to drive the market. These advancements help in providing faster, safer, more precise, less painful, and customized treatment strategies for optical diseases. Besides this, other factors like intensive R&D in the laser eye-care segment, rising concerns for vision-health management, and an increase in the number of ophthalmic clinics and hospitals, among others, are all contributing to the market expansion.

However, the associated risk of vision loss during photocoagulation, incorrect device handling, the lack of understanding about modern procedures, the lack of enhanced diagnostics in underdeveloped countries, and costly medical equipment maintenance costs are likely to hinder the market growth.

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Key Companies profiled:

Some of the 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

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