Market Introduction
The European excimer and femtosecond ophthalmic lasers market is further segmented into Germany, UK, France, Italy, Spain, and rest of Europe. The market growth in the region is expected due to current demographic trend such as increasing prevalence of age-related retinal diseases and increasing use of electronic devices. The rest of Europe includes countries like Russia, Sweden, Denmark, and Norway, among others. Factors such as the aging population, and unhealthy diet, increase the risk of vision disorders. The aging population in the region is driving the growth of the market. For instance, as per the Swedish Institute, around 5.2 percent of Sweden’s population is 80 or older. In Norway, the aging population is estimated to be 5.35 million. The healthcare expenditure in these countries is higher, which is boosting the growth of the market. For instance, current health expenditure amounts to 9.2% of GDP in Norway. Also, countries in the region spend heavily on elderly care, which supports the growth of the market. Increasing product launches is a prime driver for market growth. For instance, in October 2018, Alcon unveiled software and hardware enhancements to the WaveLight Refractive Suite designed to provide surgeons and patients a more comfortable and efficient LASIK experience.
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%).
Market Overview and Dynamics
The excimer & femtosecond ophthalmic lasers market in Europe is expected to grow from US$ 243.14 million in 2021 to US$ 332.12 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The excimer & femtosecond ophthalmic lasers market is characterized by the presence of small and big companies. The market players are adopting various strategies such as new product launches, regional expansion, and technological advancements to increase their market share. Rising demand for eye surgeries, such as cataracts and refractive surgeries, is encouraging the new product launches in excimer & femtosecond ophthalmic lasers market. The high prevalence of refractive errors and the relative safety and effectiveness of modern laser vision correction have grabbed the world's attention. The foremost corrective procedures are generally straightforward, and the results are often instantly visible, making refractive surgery extremely popular. Moreover, the demand for laser cataract surgery and other technology is growing. Cataract treatments are safer and more effective than ever, which is driving product innovations in the market. Market players are investing in R&D to develop advanced technologies and gain more revenue share.
Key Market Segments
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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the excimer & femtosecond ophthalmic lasers market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Alcon Inc.; Bausch Health Companies Inc.; Carl Zeiss AG; iVIS; NKT Photonics A/S; SCHWIND eye-tech-solutions; and Ziemer Ophthalmic Systems.
Reasons to buy report
Europe Excimer & Femtosecond Ophthalmic Lasers Market Segmentation
Europe Excimer & Femtosecond Ophthalmic Lasers Market - By Product Type
Europe Excimer & Femtosecond Ophthalmic Lasers Market - By Application
Europe Excimer & Femtosecond Ophthalmic Lasers Market - By End User
Europe Excimer & Femtosecond Ophthalmic Lasers Market - By Country
Europe Excimer & Femtosecond Ophthalmic Lasers Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 243.14 Million |
| Market Size by 2028 | US$ 332.12 Million |
| CAGR (2021 - 2028) | 4.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Excimer and Femtosecond Ophthalmic Lasers Market is valued at US$ 243.14 Million in 2021, it is projected to reach US$ 332.12 Million by 2028.
As per our report Europe Excimer and Femtosecond Ophthalmic Lasers Market, the market size is valued at US$ 243.14 Million in 2021, projecting it to reach US$ 332.12 Million by 2028. This translates to a CAGR of approximately 4.6% during the forecast period.
The Europe Excimer and Femtosecond Ophthalmic Lasers Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Excimer and Femtosecond Ophthalmic Lasers Market report:
The Europe Excimer and Femtosecond Ophthalmic Lasers Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Excimer and Femtosecond Ophthalmic Lasers Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Excimer and Femtosecond Ophthalmic Lasers Market value chain can benefit from the information contained in a comprehensive market report.
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