Ophthalmic Lasers Market Expected To Trigger A Revenue Increase To USD 1.6 Billion By 2025:Key Participant Carl Zeiss Meditec AG, Abbott Medical Optics, Inc.

San Francisco, 13 December 2018, Ophthalmic Lasers Market Analysis By Product (Diode, Femtosecond, Excimer, Nd:YAG, SLT), By Application (Glaucoma, Cataract Removal, Diabetic Retinopathy, AMD), By End-use, And Segment Forecasts, 2018 - 2025

The global ophthalmic lasers market is anticipated to reach USD 1.6 billion by 2025, according to a new report by Grand View Research, Inc. Ophthalmic disorders are rising significantly on a global level. This rise in the prevalence rate has led to high growth of ophthalmic lasers market.

According to American Academy of Ophthalmology 2014 statistics, nearly 4.2 million people in the U.S. are visually impaired. Huge number of people suffering from visual impairment are likely to heighten the demand for ophthalmic lasers in the coming years.

Vision loss is a serious problem among people suffering from glaucoma, cataract, age-related macular degeneration (AMD), and diabetic retinopathy. This commonly occurs among the geriatric population. American Academy of Ophthalmology stated that, around 1.3 million U.S. population are blind. Hence, in order to minimize such huge rate of vision loss, there is a high need for the application of ophthalmic laser technology.

Geriatric population are the primary target for the market. Majority of the chronic ophthalmic disorders, for instance, cataract and AMD occur among this group of population. However, refractive errors are also very common among the young people. Thus, growing number of victims of chronic eye diseases has led to an expected growth of the market.

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Further key findings from the study suggest:

·         In 2016, femtosecond lasers dominated the market due to rising prevalence of refractive errors among both geriatric and young population

·         Amongst the application segment, refractive error corrections held the largest market share in 2016 due to large number of surgeries conducted for refractive errors

·         Cataract removal is anticipated to show lucrative growth over the forecast period owing to the rising prevalence of cataract removal surgeries among the geriatric people

·         In 2016, hospitals contributed towards the largest revenue share owing to the emergence of large number of hospitals in developing economies

·         North America dominated the market in 2016 due to rising prevalence of ophthalmic disorders in this region

·         Asia Pacific is expected to show lucrative growth over the forecast period owing to the increase in awareness levels among people in developing countries about various treatments for chronic eye disorders

·         Few major companies include Carl Zeiss Meditec AG, Abbott Medical Optics, Inc., Alcon Laboratories, Inc., Ellex Medical Lasers Limited, Lumenis, and Bausch & Lomb Incorporated.

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Grand View Research has segmented the ophthalmic lasers market on the basis of product, application, end-use, and region:

Ophthalmic Lasers Product Outlook (Revenue, USD Million, 2014 - 2025)

·         Diode Lasers

·         Femtosecond Lasers

·         Excimer Lasers

·         Nd:YAG lasers 

·         SLT Lasers

·         Others      

Ophthalmic Lasers Application Outlook (Revenue, USD Million, 2014 - 2025)

·         Glaucoma

·         Cataract Removal

·         Refractive Error Corrections

·         Diabetic Retinopathy

·         AMD

·         Others

Ophthalmic Lasers End-use Outlook (Revenue, USD Million, 2014 - 2025)

·         Hospitals

·         Ambulatory Surgical Centers

·         Ophthalmic Clinics

Ophthalmic Lasers Regional Outlook (Revenue, USD Million, 2014 - 2025)

·         North America

o    U.S.

o    Canada

·         Europe

o    Germany

o    UK

·         Asia Pacific

o    Japan

o    China

o    India

·         Latin America

o    Brazil

o    Mexico

·         MEA

o    South Africa

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com/

Aesthetic Medicine Market Size To Reach $11.9 Billion By 2022: Grand View Research, Inc.

The global aesthetic medicine market is expected to reach USD 11.9 billion by 2022, according to a new report by Grand View Research, Inc. Some key drivers of the market include growth in aging population, increasing disposable income, and increasing awareness about the efficacy of aesthetic treatments. 

People aged between 25 to 65 years have prominent aging signs such as wrinkles, fine lines, and dark spots. For instance, according to the CIA World Fact Book, approximately 47.2% of the total population of China was aged between 25 to 54 years in 2014. Growth in geriatric population is likely to boost demand via widening the consumer base. 

Moreover, the need for improved aesthetics in the growing working class population is likely to boost usage rates over the forecast period. For instance, according to sources, the U.S. alone had a working population of 139.206 million in 2011. With improving employment rates especially in the emerging markets, the demand for aesthetic medicine is going to advance over the forecast period. 

However, the presence of stringent regulatory framework to ensure product safety and efficacy is one of the prime factors limiting the growth of the global aesthetic medicine market. Moreover, surgical and minimally invasive procedures require skilled professionals. This coupled with the growing overall treatment cost, is expected to restraint market growth.

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Further key findings from the study suggest:

·         Anti-wrinkle products accounted for the largest market share of 50.2% in 2014 owing to high consumer awareness levels regarding product availability, affordable cost, and high efficacy rates

·         The segment is expected to maintain its dominance throughout the forecast period. Minimally invasive technique, lesser side effects, and better results are some factors that are expected to drive the anti-wrinkle market towards expedited growth

·         Botulinum toxin is one of the oldest anti-wrinkle products available in the market. Therefore, awareness about the effectiveness of this product is high as compared to other products, resulting in the segment dominating in terms of revenue share.

·         Hyaluronic acid owing to, low side effects and high efficacy rates also accounted for a large market share in 2014

·         Clinics and beauty centers, was the largest end-use segment in 2014 as majority of the techniques demand skilled professionals to perform the procedure. Moreover, stringent regulatory guidelines limit the use of high-risk devices and treatments to professionals. As a result, the clinics and beauty center segment is expected to maintain its market position throughout the forecast period.

·         Asia pacific accounted for the largest market share of around 32.5% in 2014. Growing penetration of the technologically advanced products, cheaper treatment cost, and presence of skilled professionals are some factors driving regional growth. Moreover, growing popularity of the emerging Asia Pacific countries as medical tourism hubs will boost demand over the forecast period.

·         The presence of a large target population pool in China and India between 25 to 65 years coupled with rapidly increasing disposable income and improving standards of living is spurring the demand for aesthetic medicine in this region.

·         Some key players operating in the global market include Allergan, Inc., Alma Laser, Cynosure, Galderma S.A., Lumenis, Johnson and Johnson, Solta Medical, Inc. and Syneron Medical Ltd. 

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.

For more information: www.grandviewresearch.com