The size of the Ophthalmic Lasers Market in the Middle East & Africa was worth USD 88.49 million in 2022. It is estimated to grow at a CAGR of 2.9% and be worth USD 102.09 million by 2027.
The MEA ophthalmic lasers market is expected to be driven by the proliferation of ophthalmic diseases, growing prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, and other illness among the people. The geriatric population in the region is significantly contributing to the ophthalmic lasers market; this is because the senior population is more prone to various eye-related problems, which is influencing the market for ophthalmic lasers.
In addition, according to the reports, more than 26.4 million people in Africa suffer from visual impairment due to the increase in the changes happening around us, such as eating, habits, overweight, and other causes that are driving the growth of the market.
Furthermore, innovations and advancements in laser technology as in ophthalmology, various types of laser treatments are used, such as excimer laser, femtosecond laser, cyclodiode laser, and many others, are expected to propel the market growth. Moreover, due to the advantages and applications for the corneal refractive procedure excimer laser treatment, market growth is projected to increase during the forecast period.
Other factors such as the growing medical and healthcare expenditure are the factors. Rising awareness in developing countries such as UAE, South Africa, and Saudi Arabia are expected to favour the market’s growth rate. Growing competition between the market players and the increasing regulatory approvals for ophthalmic lasers in the market due to raising awareness about its safety and effectiveness, which is necessary to state the power output of the product are the other factors driving the market growth.
However, an increase in the high costs of the treatment related to laser therapies is the primary factor affecting the market growth. Also, the increase in the competition between the market players and introducing various substitute therapies and devices in the market with the lack of skilled and trained individuals for operating are limiting the market growth. Furthermore, as well as due to access to medical and healthcare systems are the other factors that are affecting the market growth of the MEA ophthalmic lasers market.
This research report on the MEA ophthalmic lasers market has been segmented and sub-segmented into the following categories:
The Middle East and Africa market is expected to show an increase in the market share in the forecasted year due to an increase in the prevalence of the growing chronic diseases such as cancer, diabetes, and other illness in this region with the rise in the high prevalence of the ophthalmic diseases.
UAE is expected to grow at a healthy CAGR due to the increase in the presence of various advancements and innovations in the technology with the increase in competition in the market among players.
South Africa is estimated to have 15.3 percent of the world's blind population, of which 20.4 million people have impaired eyesight and 5.9 million people are blind in this region. As well with the increasing regulatory approvals for ophthalmic lasers are driving the market.
Saudi Arabia is most likely to account for a considerable share in the market ophthalmic lasers market. The market growth is supported owing to the increased investments and initiatives from government and non-government firms in the research activities, with the increase in the growth of raising awareness about visual impairment in treatment and therapies.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the Middle East & Africa ophthalmic lasers market profiled in the report are Ellex Medical Lasers Limited (Australia), Topcon Corporation (Japan), Ziemer Ophthalmic Systems AG (Switzerland), IRIDEX Corporation (U.S.), NIDEK Co., Ltd. (Japan), Alcon Laboratories, Inc. (U.S.), Abbott Medical Optics, Inc. (U.S.), Carl Zeiss Meditec AG (Germany), Bausch & Lomb Incorporated (U.S.), and Lumenis Ltd. (Israel).
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