{"id":52397,"date":"2022-12-28T16:03:04","date_gmt":"2022-12-28T15:03:04","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/ophthalmic-lasers-global-market-report-2022-increasing-regulatory-approvals-for-ophthalmic-lasers-bolsters-sector-researchandmarkets-com\/"},"modified":"2022-12-28T16:03:04","modified_gmt":"2022-12-28T15:03:04","slug":"ophthalmic-lasers-global-market-report-2022-increasing-regulatory-approvals-for-ophthalmic-lasers-bolsters-sector-researchandmarkets-com","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/ophthalmic-lasers-global-market-report-2022-increasing-regulatory-approvals-for-ophthalmic-lasers-bolsters-sector-researchandmarkets-com\/","title":{"rendered":"Ophthalmic Lasers Global Market Report 2022: Increasing Regulatory Approvals for Ophthalmic Lasers Bolsters Sector – ResearchAndMarkets.com"},"content":{"rendered":"
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DUBLIN–(BUSINESS WIRE)–The “Ophthalmic Lasers Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)”<\/a> report has been added to ResearchAndMarkets.com’s<\/strong> offering.\n<\/p>\n

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\nThe ophthalmic lasers market is estimated to be USD 1,309.2 million in the base year. It is expected to reach USD 1,765.2 million by the end of the forecast period, registering a CAGR of 5.4%.\n<\/p>\n

\nAccording to the WHO 2021, around the world, at least 2.2 billion people have near or distant vision impairment. In at least around 1 billion or almost half of these cases, vision impairment could have been prevented or has yet to be addressed. As per the same source, vision impairment poses a global financial burden associated with vision impairment from uncorrected myopia (USD 244 billion) and presbyopia (USD 25.4 billion). The large prevalence of ophthalmic disorders around the world is adding to the growth of the ophthalmic lasers market.\n<\/p>\n

\nSimilarly, in January 2022, a press release by the World Economic Forum stated that rates of short-sightedness (myopia) are rising dramatically. By 2050, it’s even predicted that half of the world’s population would be short-sighted. These rates alone have risen in the past 50 years in Europe. According to the study, women were 24% more likely than men to develop myopia as children, but they were 12% less likely to do so as adults. It’s unclear why this is the case, but it could be because men and women endure different hormonal shifts or different lifestyles. Thus, the increasing prevalence of myopia is expected to increase market growth during the forecast period as the patient often requires surgical treatments which involve ophthalmic lasers.\n<\/p>\n

\nInitiatives by key market players are further expected to increase market growth during the forecast period. In April 2022, Nova Eye Medical launched its next-generation canaloplasty device, iTrack Advance, in select markets in Europe and Asia-Pacific. The iTrack Advance features include a proprietary illuminated fiber optic tip of the original iTrack device to allow the surgeon to continuously monitor the location of the device in Schlemm’s canal. Thus, such initiatives are expected to increase market growth.\n<\/p>\n

\nHowever, the high cost associated with laser therapies and the low availability of skilled practitioners are expected to restrict the growth of the studied market over the forecast period.\n<\/p>\n

\nKey Market Trends<\/strong>\n<\/p>\n

\nRefractive Error Corrections Segment is Expected to Hold a Significant Market Share in the Ophthalmic Lasers Market<\/strong>\n<\/p>\n

\nThe refractive error corrections segment holds the major share in the ophthalmic lasers market. An article published in the journal of Annals of Medicine and Surgery in December 2021 indicated that refractive errors are the most common vision problem and prove to be a significant health issue. The article aimed to determine the awareness of refractive surgery. As per the article, Laser-assisted In Situ Keratomileusis (LASIK) was the most commonly performed procedure among surgical options. The increasing prevalence of ophthalmic lasers in refractive error corrections is expected to aid the growth of the segment in the ophthalmic lasers market during the forecast period.\n<\/p>\n

\nAn article by Cataract & Refractive Surgery Today in September 2021 discussed the future of refractive correction. The article showed that the development of procedures such as SMILE and technologies such as Contoura Vision and iDesign Refractive Studio increased the number of treatment options and the level of customization that surgeons can offer to patients. The rise in the development of refractive corrective surgeries in recent years is adding to the growth of the ophthalmic lasers market over the forecast period.\n<\/p>\n

\nNorth America is Expected to Hold a Significant Share in the Market Over the Forecast Period<\/strong>\n<\/p>\n

\nThe rise in the adoption of highly advanced techniques and systems in the manufacturing of ophthalmic lasers and the technological advancements made in ophthalmic lasers are expected to boost the growth of the market in the North American region. High awareness of the availability of innovative vision corrective surgeries in the medical field among the population contributes to the high market growth in the region.\n<\/p>\n

\nProduct approvals are another factor in market growth. For instance, in December 2021, LASEROPTEK Co., Ltd. received 510(k) clearance from the US Food and Drug Administration (FDA) for its PicoLO Premium picosecond pulse Nd: YAG laser. The approvals of such innovative products in the United States are expected to boost the growth of the market during the forecast period.\n<\/p>\n

\nThus the increasing necessity for surgeries involving ophthalmic lasers and increasing research and development in the healthcare department are known to propel the growth of the market in this region.\n<\/p>\n

\nMarket Dynamics<\/strong>\n<\/p>\n

\nMarket Drivers\n<\/p>\n