Ophthalmic Femtosecond Lasers Market Size to Grow by $ 170.80 mn through 2020-2024
The ophthalmic femtosecond lasers market is expected to grow by $ 170.80 mn, accelerating at a CAGR of almost 6% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. View Free Sample Report
Ophthalmic Femtosecond Lasers Market: Segmentation by Product
This report provides a detailed analysis of the market by Product (Consumables and accessories and Equipment) and Geography (North America, Europe, Asia, and ROW). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.
Ophthalmic Femtosecond Lasers Market: Vendor Analysis
The market is concentrated. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Alcon Inc., Bausch Health Companies Inc., Carl Zeiss AG, Johnson & Johnson, KMLabs Inc., LENSAR Inc., Menlo Systems GmbH, NKT Photonics AS, SCHWIND eye-tech-solutions GmbH, and Ziemer Ophthalmic Systems AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Technavio has been monitoring the global ophthalmic femtosecond lasers market and it is expected to grow by USD 170.80 million accelerating at a CAGR of over 6% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report
Ophthalmic Femtosecond Lasers Market: Segmentation by Product
During 2019, the consumables and accessories segment accounted for the major share of the Ophthalmic Femtosecond Lasers Market. Consumables and accessories consist of a wide range of products such as amplifiers, light conversion units, generators, ultrafast mirrors, non-polarizing plates, laser safety glasses, wave plates, ND filters, and lenses with different focal length lenses. Consumables and accessories are used in a large volumes due to the high adoption of ophthalmology laser procedures, thereby making a strong financial purchase in the femtosecond lasers market. Market growth in the consumables and accessories segment will be faster than the growth of the market in the equipment segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the ophthalmic femtosecond lasers market size. One of the primary growth drivers for this market is the rise in the incidences of cataract and the growing geriatric population.
Ophthalmic Femtosecond Lasers Market: Segmentation by Geography
North America was the largest Ophthalmic Femtosecond Lasers Market market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising geriatric population, the availability of reimbursement by Medicare, and the growing number of ASCs will significantly drive ophthalmic femtosecond lasers market growth in this region over the forecast period. 35% of the market growth will originate from North America during the forecast period with the US and Canada being the key markets for ophthalmic femtosecond lasers. However, market growth in this region will be slower than the growth of the market in Asia and Europe.
Ophthalmic Femtosecond Lasers Market: Vendor Analysis
The market is concentrated. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Alcon Inc., Bausch Health Companies Inc. and Carl Zeiss AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
