The Ophthalmic Lasers Market size in the Asia Pacific was valued at USD 234.78 million in 2022. This value is estimated to grow at a CAGR of 4.9% to reach USD 298.22 Million by 2027. Increasing awareness levels among the people living in developing countries regarding different types of treatments available for eye-relevant disorders favors the market in this region.
Factors such as the rising older people population, increasing government initiatives, and rising removal of cataract surgeries are majorly driving the ophthalmic lasers market growth in the Asia Pacific. Growing incidence of chronic diseases such as diabetes, which may cause blindness, increasing demand for economical, harmless, and pain-free ophthalmic laser therapies, further fuel the market growth in this region. Moreover, technology developments, high success rates of ophthalmic laser surgeries, a growing number of ophthalmic hospitals and clinics are directing high growth for the market during the forecast period. In addition, the introduction of new healthcare equipment required in ophthalmic laser treatments helps the market grow further.
However, high costs associated with laser treatments, risks related to the Lasik treatment like itching, redness, the shortage of skilled professionals are predicted to hamper the APAC ophthalmic lasers market growth to a small extent. In addition, lack of awareness in the people living in rural areas and poor reimbursement policies impedes the market.
This research report on the APAC ophthalmic lasers market has been segmented and sub-segmented into the following categories:
Based on the region, China and India are expected to account for the most significant share in the APAC market during the forecast period due to their large population base. The Chinese ophthalmic lasers market is estimated to showcase a CAGR of 7.0% from 2022 to 2027 due to the growing population suffering from obesity and glaucoma deficiency. The Indian ophthalmic lasers market is expected to grow at a 7.5% CAGR during the forecast period and is driven by factors such as increasing cases of cataracts. In India, cataract accounts for 62% of the blindness. During the 2016-17 period, 6.48 million cataract surgeries were performed in India. According to the Asia-Pacific Council of Optometry, nearly 15 million people were blind in India in 2018, out of which 75% are avoidable causes of blindness. The Japanese ophthalmic lasers market is projected to have notable growth during the forecast period. The rise in well-established healthcare facilities with the latest equipment required for surgeries like cataracts and the number of FDA approvals towards the new devices coming into the market by the key players is likely to boost the market.
KEY MARKET PLAYERS:
Ellex Medical Lasers Limited, Topcon Corporation, Ziemer Ophthalmic Systems AG, IRIDEX Corporation, NIDEK Co., Ltd., Alcon Laboratories, Inc., Abbott Medical Optics, Inc., Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, and Lumenis Ltd are some of the noteworthy companies operating in the APAC ophthalmic lasers market.
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