Ophthalmic Photocoagulator Market To Reach $244.0 Million By 2030

Ophthalmic Photocoagulator Market Growth & Trends

The global ophthalmic photocoagulator market size is expected to reach USD 244.0 million by 2030, registering to grow at a CAGR of 6.0% from 2024 to 2030 according to a new report by Grand View Research, Inc. The global influence of COVID-19 on eye health and the rise in the incidence of increasing ocular diseases, such as diabetic retinopathy and age-related macular edema, are the key factors fuelling the market growth.

The growing elderly population and the increasing prevalence of diabetes-related blindness are also projected to fuel the market growth. Various eye diseases are quite frequent in the geriatric population. The National Institute on Aging (NIA) estimated that the elderly population would reach 72 million people by 2030. Diabetic retinopathy has become more common as the diabetic epidemic has spread throughout the world. Individuals' average time spent on a digital screen has risen, resulting in a variety of eye-related pain and disorders.

The growing need for ophthalmic photocoagulator, which is cost-effective, painless, and non-invasive, is expected to drive the market. Major market participants are adopting various methods, such as M&A, cooperation, and partnerships, to maintain competitiveness in the industry. For instance, Quantel Medical has acquired Ellex, which includes the company's laser technology solutions. The WHO is currently working on a package of eye care treatments for a variety of eye disorders, with epidemiology and field professionals providing input. Countries will be able to utilize these tools to help them make decisions about service inclusion, delivery methods, and resource implications.

COVID-19 is expected to negatively impact the market growth. This is due to increasing delay in routine ophthalmic procedures due to the growing risk of infection. Additionally, people suffering from ophthalmic disorders are not opting for diagnostic and treatment options to avoid the visit to medical settings due to the spread of the virus. Hence, this is expected to hinder the market growth.

 Request a free sample copy or view report summary: Ophthalmic Photocoagulator Market Report

Ophthalmic Photocoagulator Market Report Highlights

• The diabetic retinopathy segment accounted for the largest share of 28.4% in 2023. For patients with diabetic retinopathy, laser photocoagulation can significantly improve vision.

• The green scan laser photocoagulator segment dominated the market and held a share of 32.5% in 2023. This is attributed to accuracy in retaining the tissues of the retina which results in better treatment of diseases such as diabetic retinopathy and AMD.

• Hospitals held a market share of 36.1% in 2023 due to the extensive use of ophthalmic lasers in hospital settings. This is attributed to the growing need for hospitals to provide effective solutions with the least invasive and high accuracy to treat eye disorders such as diabetic retinopathy and age-related macular degeneration.

• North America dominated the global market accounting for a share of 33.4% in 2023. This is attributed to the high levels of stress and unhealthy lifestyles that are contributing to the rise in chronic eye disorders such as glaucoma.

Ophthalmic Photocoagulator Market Segmentation

Grand View Research has segmented the global ophthalmic photocoagulator market based on application, wavelength, end-use, and region:

Ophthalmic Photocoagulator Application Outlook (Revenue, USD Million, 2018 - 2030)

• Glaucoma

• Diabetic Retinopathy

• Age-related Macular Degeneration

• Macular Edema

• Others

Ophthalmic Photocoagulator Wavelength Outlook (Revenue, USD Million, 2018 - 2030)

• Green Scan Laser Photocoagulator

• Yellow Scan Laser Photocoagulator

• Red Scan Laser Photocoagulator

• Multicolor Scan Laser Photocoagulator

Ophthalmic Photocoagulator End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Ambulatory Surgery Centers

• Ophthalmology Clinics

Ophthalmic Photocoagulator Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in Ophthalmic Photocoagulator Market

• Lumenis Be Ltd.

• IRIDEX Corporation

• Alcon Inc.

• Lumibird Medical

• NIDEK CO., LTD. 

• Johnson & Johnson Vision Care, Inc. 

• TOPCON CORPORATION

• Bausch + Lomb

• Meridian Medical Group