Refractive Surgery Segment to Dominate Europe Excimer & Femtosecond Ophthalmic Lasers Market during 2020–2028       

According to a new market research study on “Europe Excimer & Femtosecond Ophthalmic Lasers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Application, and End User” is expected to reach US$ 332.12 million by 2028 from 243.14 US$ million in 2021. The market is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The report provides trends prevailing in the Europe excimer & femtosecond ophthalmic lasers market along with the drivers and restraints pertaining to the market growth. Surge in elderly population is the major factor driving the growth of the Europe excimer & femtosecond ophthalmic lasers market. However, issues associated with costly ophthalmology surgeries and devices hinders the growth of Europe excimer & femtosecond ophthalmic lasers market.

Europe excimer & femtosecond ophthalmic lasers market is segmented into product type, application, end user, and country. Europe excimer & femtosecond ophthalmic lasers market, based on the product type was segmented into excimer laser, and femtosecond laser. In 2021, the femtosecond laser segment held the largest share of the market. Europe excimer & femtosecond ophthalmic lasers market, based on the application was segmented into refractive surgery, cataract surgery, capsulotomy, trabeculoplasty, and diagnostics. In 2021, the refractive surgery segment held the largest share of the market. Based on technique, the Europe excimer & femtosecond ophthalmic lasers market is segmented into hospitals, ophthalmic clinics, and ambulatory surgical centers. The hospitals segment held the largest share of the market in 2021. Based on country, the Europe excimer & femtosecond ophthalmic lasers market is segmented into France, Germany, Italy, Spain, UK, and rest of Europe. Germany held the largest market share in 2021.

As the world engages with COVID-19, every type of technological discovery and capacity provided to fight this pandemic brings one step closer to overcoming it. Considering that the COVID-19 cases are rising in the region, several nations are fighting to control the disease's spread. The European economy is adversely affected due to the exponential increase of COVID-19 cases in the region. Most of the region's sectors are massively hit by the pandemic's spread, with most nations being in lockdown. Routine healthcare services were canceled, and patients were recommended to avoid hospital visits unless any medical emergency to minimize the risk of COVID-19 transmission, leading to significant disruption in the provision of healthcare service and patient care. Ophthalmology represents one of the busiest and heavily outpatient-oriented specialties, with around 7.5 million outpatient appointments and over 500,000 surgical procedures being conducted every year in the UK. The lockdown has resulted in the cancellation of thousands of ophthalmic visits and surgeries. This has potentially led to permanent and significant harm to patients' vision. Additionally, the recent survey – "Psychosocial impact of COVID-19 pandemic lockdown on people living with eye diseases in the UK," which was conducted among the public with eye diseases, highlighted a noteworthy negative psychosocial impact of lockdown on patients with visual impairment, with approximately 50% of the patients expressing fear of sight loss due to delayed review or treatment. Furthermore, as per the study conducted on ophthalmology services in Queen's Medical Centre, the UK, cataract surgery (53%) formed the major surgical backlog during the COVID-19 pandemic, followed by YAG laser procedures (24%) and oculoplastic surgeries (8%).

Alcon Inc.; Bausch Health Companies Inc.; Carl Zeiss AG; iVIS; NKT Photonics A/S; SCHWIND eye-tech-solutions; and Ziemer Ophthalmic Systems are among the leading companies in the Europe excimer & femtosecond ophthalmic lasers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Alcon unveiled software and hardware enhancements to the WaveLight Refractive Suite designed to provide surgeons and patients a more comfortable and efficient LASIK experience.     

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