Raul Bennet, Doctors of optometry, EssilorLuxottica
The report provides insights on how new innovations in lasers aids the growth of the ophthalmic laser market.
A laser is a light-emitting device that operates on the optical amplification principle based on the stimulated emission of electromagnetic radiation. Currently, lasers are widely used in medicine to treat various diseases; and, as a result of their positive results during eye surgery, lasers are being rapidly adopted in ophthalmology procedures.
Healthcare spending in the United States increased by 4.6 percent in 2019 to 3.8 trillion dollars. That is roughly 11,582 dollars per person, accounting for 17.7 percent of G.D.P. Furthermore, the federal government accounted for 29 percent of total health expenditures, with households coming in second (28.4 percent). Both state and local governments accounted for 16.1 percent of total healthcare expenditures, with other private revenues accounting for the remaining 7.5 percent.
This study aims to define market sizes and forecast values for various segments and countries over the next eight years. The study intends to include qualitative and quantitative perspectives on the industry within the report's regions and countries. The report also discusses the driving factors and challenges that will shape the market's future growth.
The healthcare industry expects the ophthalmic laser to undergo a significant transformation during the forecast period due to increased eye-related diseases, such as glaucoma, cataract, refractive errors, and diabetic retinopathy. Furthermore, advancements in laser technology and increased awareness of laser applications in ophthalmology are boosting the growth of the market. However, strict safety regulations and high failure rates are expected to limit growth. Fast-developing nations in the L.A.M.E.A. and Asia-Pacific regions are expected to provide significant opportunities to the manufacturers.
The study conducts in-depth market analysis, including current trends and future projections, in order to identify potential investment opportunities. The report analyzes the market from 2016 to 2023, allowing stakeholders to capitalize on current market opportunities.