Global revenues for ophthalmic lasers (photocoagulation, photodisruption [YAG], and SLT), along with maintenance, accessories, and endoprobes, will total $422 million in 2017 and grow at a compounded rate of 3.1 percent from 2016 to 2022, according to Market Scope estimates.
Growth is expected due to expanding access to advanced medical treatment (retinal surgery and glaucoma treatment) in the developing world, rapid growth in the segment of the global population over age 65 in which there is a higher prevalence of retinal disease and glaucoma, and new technology that increases the effectiveness and uses of ophthalmic lasers. In addition, new laser features and technology will provide manufacturers an opportunity to increase average prices.
Sales of new lasers are expected to account for the majority of ophthalmic laser revenues, with this source providing an estimated 63 percent of the total in 2017. Modern lasers are very reliable, and service opportunities on each laser are limited. Many ophthalmologists opt to assume the risk of paying out of pocket for repairs rather than pay for extended service plans. Nonetheless, there is a large installed base of ophthalmic lasers, and total maintenance revenues are expected to account for an estimated 22 percent of market revenues. Another area of opportunity is the single-use endoprobes designed for use in retinal surgery. Endoprobes are expected to account for approximately 11 percent of total ophthalmic laser market revenues.
Approximately 18 manufacturers participate in the ophthalmic lasers and accessories market; however, eight manufacturers account for more than 80 percent of estimated revenues. Market leaders include Topcon, Ellex, Lumenis, Iridex, Alcon, Quantel, Nidek, and LightMed.
Market Scope published its 2017 Ophthalmic Laser Report: A Global Analysis for 2016 to 2022 in June 2017. In the report, we cover prevalence and forecasts for retinal disease, glaucoma, and cataracts and their treatment methods. We forecast product demand in units and dollars, and we analyze market shares by product category. This report includes market data for 2016, and we forecast market performance through 2022. Our forecast subdivides the ophthalmic laser market into eight geographic/economic analytic categories: the US, Western Europe, Japan, Other Wealthy Nations, China, India, Latin America, and Rest of World.