Ophthalmic Photocoagulator Market Size, Share & Trends Analysis Report By Application (Diabetic Retinopathy, Glaucoma, Macular Edema), By Wavelength (Green Scan, Multicolor Scan), By End Use- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Ophthalmic Photocoagulator market gathered revenue around USD 180 Million in 2020 and market is set to grow USD 230 Million by the end of 2027 and is estimated to expand at a modest CAGR of 5.0% during the prediction period 2021 to 2027.

Growth Factors:

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.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Ophthalmic Photocoagulator market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Ophthalmic Photocoagulator market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Ophthalmic Photocoagulator market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Regional analysis:

North America dominated the market by capturing a share of 35.0% in 2020. Chronic eye illnesses such as age-related macular edema, diabetic retinopathy, and glaucoma are becoming more common as a result of high stress and unhealthy lifestyles, which are high-impact key drivers for the North American market. According to the International Diabetes Federation (IDF), the U.S. has the highest diabetes rate among 38 developed countries, with approximately 30 million people suffering from the disease. Moreover, the rapidly expanding elderly population base in North America is expected to contribute to the market growth in the region. By 2015, there were more than 46 million older individuals aged 65 and more; by 2050, that number is anticipated to rise to over 90 million.

Asia Pacific is expected to grow at the fastest rate of 7.0% during the forecast period. The increasing incidence of optical diseases, which includes glaucoma, age-related macular degeneration, and diabetic retinopathy, is creating a demand for photocoagulation in this region. The WHO South-East Asia Region has in recent years made significant efforts to increase access to quality eye health services to achieve universal health coverage and ensure no one is left behind. Therefore, the presence of a large patient pool and the growing adoption of ophthalmic procedures, such as photocoagulation for the treatment of optical disorders, are expected to boost the market growth in the APAC region.

Rapidly growing European countries such as the U.K., France, and Germany that have a high per capita income and well-defined healthcare policies are showing increased demand for advanced ophthalmic photocoagulators. This is particularly due to the rise in diabetes-related ocular disorders and glaucoma and the growth of the elderly population. According to the World Health Organization, the European Region has around 60 million individuals with diabetes. As per the NCBI, the number of people with early and late AMD in Europe will be between 14.9-21.5 million and 3.9-4.8 million by 2040. Technological advancements in the region, along with large investments made in healthcare research, are expected to propel the market growth.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Some of the prominent players in the Ophthalmic Photocoagulator Market include:  Lumenis; IRIDEX Corporation; Alcon Inc.; Quantel Medical; NIDEK CO., LTD.; Johnson & Johnson Vision Care, Inc.; TOPCON CORPORATION; Bausch & Lomb Incorporated; Meridian Medical Group

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

• By Application
• Glaucoma
• Diabetic Retinopathy
• Age-related Macular Degeneration
• Macular Edema
• Others
• By Wavelength
• Green Scan Laser Photocoagulator
• Yellow Scan Laser Photocoagulator
• Red Scan Laser Photocoagulator
• Multicolor Scan Laser Photocoagulator
• By End-use
• Hospitals
• Ambulatory Surgery Centers
• Ophthalmology Clinics

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Highlights of the Report:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Ophthalmic Photocoagulator market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Ophthalmic Photocoagulator market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Ophthalmic Photocoagulator markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

• Governmental bodies, and organizations creating economic policies
• National and international social welfare institutions
• Company websites, financial reports and SEC filings, broker and investor reports
• Related patent and regulatory databases
• Statistical databases and market reports
• Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

• Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
• In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

• CEOs, VPs, market intelligence managers
• Procuring and national sales managers technical personnel, distributors and resellers
• Research analysts and key opinion leaders from various domains

Key Points Covered in Ophthalmic Photocoagulator market Study:

• Growth of Ophthalmic Photocoagulator in 2021
• Market Estimates and Forecasts (2017-2027)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Ophthalmic Photocoagulator and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Ophthalmic Photocoagulator Consumption Analysis
•  Ophthalmic Photocoagulator Production Analysis
•  Ophthalmic Photocoagulator and Management