Global revenue for ophthalmic lasers—photocoagulation, photodisruption (YAG), and SLT—along with maintenance, accessories, and endoprobes, will total nearly $406 million in 2019 and grow at a compound annual rate of 1.6 percent from 2019 to 2024, according to Market Scope estimates.
Factors expected to drive growth include expanding access to advanced medical treatment in the developing world, rapid growth in the segment of the global population over age 65, and new technologies that increase the effectiveness and uses of ophthalmic lasers.
These trends will be offset by an increasingly competitive global market for ophthalmic lasers, resulting in lower average selling prices for basic models, and by shifting treatment paradigms away from laser photocoagulation for retinal disease.
Lasers are an integral part of standard therapy, and ophthalmologists view these lasers as a minimally invasive treatment option. Many ophthalmic subspecialists, including those focused on the treatment of glaucoma, retinal conditions, and cataracts, view the devices as indispensable to their treatment armamentarium.
Demand for new lasers is strongly driven by the number of locations and doctors providing laser services. However, some of these procedures require specialty use probes, and revenue for these devices is directly related to the number of procedures.
Sales of new lasers account for most ophthalmic laser revenue, an estimated 61 percent of the total. Modern lasers are very reliable, and service opportunities on each laser are limited. Many ophthalmologists opt to assume the risk of paying out of pocket for repairs rather than paying for extended service plans. However, there is a large installed base of ophthalmic lasers, and total maintenance revenue accounts for an estimated 23 percent of market revenue.
Another area of opportunity is the use of endoprobes in retinal and glaucoma surgery. These account for approximately 15 percent of total ophthalmic laser market revenue.
Market Scope has identified 18 manufacturers of ophthalmic lasers and accessories, but just eight manufacturers account for almost 74 percent of estimated revenue. Market leaders include Topcon, Ellex, Lumenis, and Iridex.
The market analysis does not include lasers for refractive surgery or femtosecond cataract surgery systems (these are covered in Market Scope’s reports on cataract and refractive surgery).
Market Scope’s “2019 Ophthalmic Laser Market Report: A Global Analysis for 2018 to 2024” was published in November.