Ophthalmic Lasers Market

Major Market Share Held by Global Manufacturers

Ophthalmic lasers market is largely dominated by multinational manufactures who are competing on the basis of product development strategies such as increased functionality, multiple frequency selection and others in the ophthalmic lasers market. The consolidated nature of the ophthalmic lasers market increases the price and the profitability of the business. The limited competition in the global ophthalmic lasers market has hampered the volume growth of the ophthalmic lasers market. Global companies are fetching benefits from their specialized supply chain and large marketing platform over the ophthalmic lasers products manufactured by smaller regional companies, which have increased the revenue opportunities for global manufacturers. Companies such as Lumenis Ltd., IRIDEX Corporation, Novartis AG, Topcon Corporation, Quantel SA, hold a major revenue share in the global ophthalmic lasers market.

Product Development a Key to Market Dominance

Companies are continuously making efforts to launch novel product lines for ophthalmic lasers. The major focus is seen on functionality with latest products incorporating multi-frequency selection mode and shorter exposure to intense laser bursts to reduce the heating effect. Future products are expected to be armed with Internet of Things (IoT). Further, the companies operating in ophthalmic lasers market are collaborating with distributors and other companies to increase the penetration of their products in the ophthalmic lasers market. A growing product complexity coupled with shortened development times is the most consistent trend in the global ophthalmic lasers market. The dynamics of these two contradictory trends is imposing a 'make or buy' decision on the manufacturers. Thus, outsourcing of production is expected to be the major market trend taking advantage of economies of labor and global supply chains.

More than 90% of optics and photonics companies are small enterprises serving the demands of larger players. The large global vendors earn over 80% of the revenue and market fragmentation due to outsourcing.

Collaboration Seen as an Important Element in the Low Volume–High Value Market

The low volume–high value nature of the ophthalmic lasers market has negated the production location of the product as a factor in the final price of product owing to the negligible share of the shipping cost relative to the final product. Players of ophthalmic lasers market are focusing on collaboration and marketing to improve distribution efficiencies. Allergan announced a strategic partnership with Allegiance Santé, a subsidiary of Cardinal Health, in Europe, Africa and the Middle East. The agreement outsources the marketing of its products in these regions to Allegiance Santé, where it has a strong marketing presence.

Strong Sales Channel and Brand Equity in Europe

European ophthalmic lasers market is expected to be the immediate larger market owing to ageing of the population and the larger hospitalization rates in Europe. Bausch & Lomb acquired Chauvin a major French ophthalmic company owing to its strong cataract product line and presence in Europe. The strategic nature of the market, its cross functionality and the growing production capacity is the prime factor behind the acquisitions in Europe. The poor outlook of the semiconductor fabrication sector in the U.S. in the last few years with negative growth is another factor for the acquisitions in Europe.

Entry of New Players with Complimentary Technology and Skills

There was a considerable slowdown in the defense electronics industry owing to defense spending cuts by the U.S. during recession. However, the impressive performance of medical electronics drew the attention of larger players who began to understand the importance of diversification to improve the resilience of business to economic downturns. Thus, influx of companies from the defense sector is expected drive the growth of the global ophthalmic lasers market. There was an impressive sales of ophthalmic lasers in 2016. For example, Lumenis one of the world's largest energy-based medical device companies for surgical, aesthetic, and ophthalmic applications, which registered its 8th consecutive quarter of year-over-year revenue growth of 9.3% in 2016. Lumenis was acquired in 2015 by investment firm XIO Group for an estimated US$ 510 million. Lumenis also possessed an impressive intellectual property in form of intense pulsed light (IPL) technology for dry eye and rosacea, OtoLase for middle-ear surgery, and fractional CO₂ lasers for dermatitis and ENT conditions.

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Competitive Landscape

The competition section of the ophthalmic lasers market features profiles of the key players operating in the industry based on their ophthalmic lasers market shares, differential strategies, product offerings, marketing approach and company dashboard. Some of the key players featured in this report include Ellex Medical PTY Ltd., Lumenis Ltd., IRIDEX Corporation, NIDEK CO., LTD., Novartis AG, Topcon Corporation, and Quantel SA, among others.

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Definition

Ophthalmic Lasers are devices used to treat several ophthalmic disorders including diabetic retinopathy, glaucoma, cataract and several other diseases. This report analyses the total revenue generated through sales of ophthalmic lasers, which includes photo-coagulation, photo-disruption and SLT lasers. The report also analyses the trends in the ophthalmic lasers market over the forecast period. The lasers that are not to be considered into the report are aesthetic lasers, femtosecond laser and excimer lasers.

About the Report

FMI conducted a research study on ophthalmic lasers market for the forecast period 2018 to 2022. The ophthalmic lasers market report offers a comprehensive evaluation of the business opportunities prevailing in the ophthalmic lasers market along with insights on the ophthalmic lasers sales trend, disease incidences, and awareness level for ophthalmic lasers market competition. The report elaborates on the macroeconomic factors influencing the dynamics of ophthalmic lasers market and its futuristic potential.

Segmentation

The report offers a comprehensive taxonomy of ophthalmic lasers market based on product type, disease type, end user, and region. The ophthalmic lasers by product type include the segments Photo-coagulation, Photo-disruption and SLT. Based on the disease type, the global ophthalmic lasers market is segmented into diabetic retinopathy, glaucoma surgery, cataract surgery and others. Based on the end user, the ophthalmic lasers market is segmented into hospitals, ambulatory and surgical centers and ophthalmic clinics.

The ophthalmic lasers market has been analyzed across regions of North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan, Japan and MEA.

Additional Questions Answered

Some of the additional questions addressed in this report on ophthalmic lasers market-

• What is the revenue potential of ophthalmic lasers across regions of North America and Europe?
• Who are the key competitors and what are their portfolios in ophthalmic lasers market?
• What are major challenges influencing the growth of ophthalmic lasers market?
• How intervention from regulatory authority is shaping the ophthalmic lasers market growth?

For answers of all the possible questions required for gauging performance of ophthalmic lasers market, get in touch with our expert analyst.

Research Methodology

FMI has utilized a triangulation methodology that is primarily based on experimental techniques such as patient-level data, number of procedures and capital equipment install base to obtain precise market estimations and insights on various medical devices and medical technology. Bottom-up approach is always used to obtain insightful data for the specific country/regions. The country specific data is again analysed to derive data at a global level. This methodology ensures high quality and accuracy of information. Secondary research is used at the initial phase to identify the feasibility of the target products/technology categories and its respective segments, product offerings, usage pattern as per disease indications, product installed base in target healthcare facilities, life span of a device, reimbursement scenario, adoption rate and future impact of new technologies.