Global Ophthalmic Femtosecond Lasers Market - 2021-2028

Global Ophthalmic Femtosecond Lasers Market - 2021-2028

Ophthalmic Femtosecond Lasers Market.Overview The ophthalmic femtosecond lasers market. The size was valued at US$ YY billion in 2020 and is estimated to reach US$ YY billion by 2028, growing at a CAGR of YY % during the forecast period (2021-2028). The FS laser employs near-infrared pulses to cut tissue with minimal collateral tissue damage. However, its major use at present is in the cutting of laser in situ keratomileusis flaps. Opthalmic Femtosecond laser (FSL) is an infrared laser with a wavelength of 1053 nm. The laser works producing photodisruption or photoionization of the optically transparent tissue such as the cornea. Currently, femtosecond lasers have a wide range of applications in ophthalmic surgery. Ophthalmic Femtosecond Lasers Market.Dynamics The increasing prevalence of ophthalmic disorders and rising geriatric population is expected to drive the ophthalmic femtosecond lasers market in the forecast period. The increasing prevalence of ophthalmic disorders is expected to drive the market Retinal disorders are problems with the nerve layer at the back of the eye. Macular degeneration is a disease that destroys sharp, central vision and diabetic eye problems. Conjunctivitis is an infection also known as pink eye. Most of the people have eye problems at one time or another in their life . Some may be minor and is expected to go away on their own or are easy to treat at home, others need a specialist's care. Around 12 million people who are 40 years and over in the U.S have vision impairment, 1 million are blind, 3 million have vision impairment after correction, and 8 million have vision impairment due to uncorrected refractive error. The rising geriatric population is expected to drive the ophthalmic femtosecond lasers market in the forecast period The prevalence of these eye diseases increases above 75 years of age. The world estimates around 285 million people with some visual impairment; around 256 million with low vision, and about 40 million people who are blind or have significant visual impairment.65% of those with visual impairment and 82% of those who are blind are over 50 years of age. The impact of aging changes in the eye has a significant effect on the quality of life in the elderly. Older people must adapt to problems, e.g., reduced visual field, decreased visual acuity, delayed dark adaptation, reduced colour perception, and decreased power of accommodation resulting in presbyopia. Taken together, these different visual problems all lead to impairment of visual function. Around 5.5% of Americans of 18 to 44 years of age reported have vision loss, 12.0% of Americans of 45 to 64 years of age reported having vision loss. Lack of awareness is expected to hamper the ophthalmic femtosecond lasers market While diabetic retinopathy was reported by 40.9% of patients with type 1 diabetes and 9.8% of patients with type 2 diabetes, 35.8% and 12.6% of all participants reported cataracts and glaucoma, respectively. Almost all participants reported awareness that diabetes could damage the eyes; the majority was also aware of the importance of glycaemic control and regular eye examination in preventing eye diseases. In contrast, only 70.5% of participants underwent an eye examination by an ophthalmologist during the past year. Eye examination was associated with better patients awareness. Barriers mentioned by patients revealed a lack of knowledge about screening guidelines, in particular regarding the preventive nature of eye examinations. Strategic healthcare efforts targeting the promotion of regular eye examination and initiatives aiming to improve knowledge of screening guidelines should be encouraged. COVID-19 Impact Analysis COVID-19 has affected the healthcare industry. To curb its growth government completes a lockdown that stopped all industrial activities, hospital visits, and surgeries. It also affected the ophthalmic femtosecond lasers market as the healthcare system focussed much on COVID-19 cases. Ophthalmic Femtosecond Lasers Market. Segment Analysis Equipment type is expected to dominate the ophthalmic femtosecond lasers market Laser technology is used in many primary, clinical disciplines and specialties. It plays an important role in promoting the development of ophthalmology, especially corneal refractive surgery. The femtosecond laser is available for LASIK flap formation. It reduces the risk of the complications. With the presence of mechanical microkeratome in the femtosecond laser, the flap is thicker peripherally (meniscus-shaped flap) and is thinner centrally which increases the incidence of buttonhole perforation. The laser allows thin and uniform flaps, which improves the stability, safety, and precision of the flaps. It can also create thinner flaps with minimum effects on stromal architecture. In femtosecond-created flaps flap centration, diameter, and thickness are more precise.One more advantage of the femtosecond laser is that it allows the surgeon to select the cutting angle, position,diameter of the hinge, the flap diameter and flap thickness, which may provide better flap stability and reduce clinical epithelial ingrowth. Warsaw-based laser manufacturer and micromachining firm Fluence recently unveiled its new Jasper Flex femto laser, which has applications in ophthalmology. A new femtosecond laser Schwind ATOS was introduced by Schwind eye-tech-solutions, which features an advanced minimally invasive lenticule extraction called the SmartSight procedure. Its features include intelligent eye tracking with pupil recognition and cyclotorsion compensation, the laser system provides precise centering of the patient's eye along the visual axis. SmartSight is suitable for the treatment of myopia and astigmatism up to 5 diopters. In addition, Schwind ATOS offers high-precision flaps for FemtoLASIK. Cataract Surgery is expected to dominate the market The femtosecond laser due to its ultrafast pulses in the range of 10 seconds is useful in ocular surgeries and its decreased energy requirements for tissue destruction, reducing unintended damage to surrounding tissues. The overall laser time is reduced, and the surgical results have significantly improved using the Soft-fit PI. With the femtosecond laser, precision can be achieved at the level of capsulotomy, lens fragmentation, corneal incisions, and relaxing incisions to correct astigmatism. Standard pre-operative dilating drops and NSAIDs are administered for routine cataract surgery. Surgery is done under topical anesthesia (if peribulbar block is required for cataract surgery, it is given after femtolaser assisted steps are done). Femto Laser-Assisted Cataract Surgery, or FLACS, replaces many steps during cataract surgery that require a blade and softens the cataract, allowing for easier and smoother removal. A small ultrasound probe is expected to break up, remove cataracts. And a new lens is expected to be placed in eye By the age of 75, half of Americans develop cataracts. By age 80, that percentage rises to 70.Hence, this segment is expected to dominate the ophthalmic femtosecond lasers market. Ophthalmic Femtosecond Lasers Market. Geographical Analysis North America is expected to dominate the ophthalmic femtosecond lasers market The strong focus of this region on its R&D, the availability of good healthcare infrastructure, increased eye disorders, and timely approval of new products is expected to increase its market. Americans, who account more than 4.2 million who are aged 40 years and older are either legally blind (having best-corrected visual acuity of 6/60 or worse (=20/200) in the better-seeing eye) or are with low vision (having best-corrected visual acuity less than 6/12 (<20/40) in the better-seeing eye, excluding those who were categorized as being blind). In the U.S, the leading causes of blindness and low vision are age-related eye diseases such as macular degeneration, cataract, diabetic retinopathy, and glaucoma. LENSAR (Orlando, FL), which develops femtosecond laser technology for refractive surgery, has received U.S. FDA clearance for its LENSAR laser system with Streamline IV, expanding the platform's capabilities to include the creation of micro radial incisions that allow surgeons to treat additional corneal conditions post-cataract surgery. Ophthalmic Femtosecond Lasers Market. Competitive Landscape Major key players in the ophthalmic femtosecond lasers market are IMRA America, Inc., Newport Corporation, Abbott Medical Optics, Alcon, Bausch & Lomb, Carl Zeiss Meditec, Ziemer Ophthalmic Systems, Tianjin JingMing New Tech. Devp. Co., Ltd, HANSON MEDITEC CO., LTD and Huaian Meide Medical Instrument Co., Ltd. Ophthalmic Femtosecond Lasers Market. Key Companies to Watch Alcon Alcon helps people see brilliantly. Alcon one of the global leader in eye care with a heritage spanning more than seven decades,they offer the broadest product portfolio to enhance sight and improve people's lives. Their Vision Care, Surgical products touch the lives of more than 260 million people all around 140 countries each year facing the conditions like cataracts, glaucoma, retinal diseases, and refractive errors. They have more than 20,000 associates who enhance the quality of life with their innovative products, partnerships with eye care professionals, and programs that have advance access to quality eye care. Product Portfolio: The company offers products to enhance sight and improve people's lives. It is a medical company specializing in eye care products. Key Development: Geneva, On August 27, 2019, the global leader in eye care, announced the Food and Drug Administration (FDA) approval and its initial commercial launch of AcrySof®IQ PanOptix®Trifocal Intraocular Lens (IOL), the first and only trifocal lens for U.S. patients undergoing cataract surgery. Why Purchase the Report? • Visualize the composition of the ophthalmic femtosecond lasers market Segmentation By Product and By Application facility highlighting the key commercial assets and players. • Identify commercial opportunities in ophthalmic femtosecond lasers market by analyzing trends and co-development deals. • Excel data sheet with thousands of data points of ophthalmic femtosecond lasers market- level 4/5 segmentation. • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study. • Product mapping in excel for the key product of all major market players The ophthalmic femtosecond lasers market report would provide an access to an approx. 52 market data table, 39 figures and 180 pages. Target Audience • Service Providers/ Buyers • Industry Investors/Investment Bankers • Education & Research Institutes • Research Professionals • Emerging Companies • Manufacturers Market Segmentation Ophthalmic Femtosecond Lasers Market- By Product: • Equipment • Consumables and accessories Ophthalmic Femtosecond Lasers Market- By Application: • Cataract Surgery • Refractive Surgery Ophthalmic Femtosecond Lasers Market- By Region • North America • Europe • South America • Asia Pacific • Middle East and Africa