Global Femtosecond Lasers Market: By Product Type (Consumables and reagents, Equipment), By Application (Refractive Surgery, Cataract Surgery), By End User (Hospitals, Clinics, Ambulatory Surgical centers), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global femtosecond lasers market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2018 to 2024.
Market Outline: Global Femtosecond Lasers Market
Femtosecond lasers are the infrared lasers with wavelength of 1053nm. These lasers work by producing the photoionization or photodisruption of optically transparent tissues such as cornea. Femtosecond lasers has the pulse duration of femtosecond range (10-15 second). Reduce in the pulse duration leads to decrease in amount of collateral tissue damage. Femtosecond lasers are help to simplify the complex open surgeries of eye such as LASIK flap creation, cataract surgery, lamellar and full thickness corneal transplantation, and other corneal refractive procedures.
Market Dynamics: Global Femtosecond Lasers Market
Rise in number of persons with blindness is a key factor drives the growth of global femtosecond lasers market. According to WHO 2014, approximately 42 Mn people affected by severe blindness, in which cataract is the major reason for 17 Mn patients. Moreover, increase in the R&D activities, various advantages with femtosecond layers compared with others, rise in deployment of ultrafast lasers in biomedical and biological applications, and sophisticated healthcare infrastructure in developed and developing countries are boost the global femtoseconds market over the forecast years. However, lack of well-trained professionals in underdeveloped countries, potential risk of complications, and poor healthcare infrastructure in developing countries are hinder the growth of femtosecond lasers market.
Market Scope: Global Femtosecond Lasers Market
Global femtosecond lasers market is segmented based on product type, application, and end user
Based on product type, market is segmented into the following:
- Consumables and reagents
Based on the Application, the market is segmented into the following:
- Refractive Surgery
- Cataract Surgery
Based on the end users, the market is segmented into the following:
- Ambulatory Surgical centers
Regional Analysis: Global Femtosecond Lasers Market
Geographically, global femtosecond lasers market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America femtosecond lasers market is poised to grow due to increase in the prevalence of cataract disease (according to Centers for Disease Control and Prevention 2015, approximately 20.5 Mn people are suffering from cataract), rise in focus on the R&D by market players, presence of skilled professions in U.S and Canada are bolster the market. Europe femtosecond lasers market is driving by high adoption of advanced technologies in healthcare sector, well established healthcare infrastructure in Germany, France, and UK, and increase in healthcare expenditure are surge the market. Asia Pacific femtosecond lasers market has prominent share attributed to large patient pool in India, China, and Japan, grow in medical tourism due to low cost of surgeries, and entry of market players into Asia Pacific region are propel the market.
Competition Assessment: Global Femtosecond Lasers Market
Some of the players in the global femtosecond lasers market include:
- IMRA America (U.S.)
- Coherent Inc. (U.S.)
- JENOPTIK Laser GmbH (Germany)
- Lumentum Operations LLC (U.S.)
- Laser Quantum (U.K)
- Amplitude Systemes (France)
- Spectra-Physics (U.S.)
- IPG Photonics (U.S.)
- Bausch & Lomb Incorporated (U.S.)
- Alcon (Novartis AG) (U.S.)
- Newport Corporation (U.S.)
Notable Market Developments: Global Femtosecond Lasers Market
- In April 2018, Alcon launched new technological enhancements to the LenSx Laser, a femtosecond laser system in U.S.