Light amplification by stimulated emission radiation is abbreviated as LASER. Laser absorbs energy and emits another form of light energy which is used in semiconductors, laser printers etc. Lasers are monochromatic lights that can be focused on a small spot. Different types of laser are used in ophthalmology such as argon, excimer, CO2, YAG, etc. The term Excimer comprises of ‘excited and dimer’ and was coined by a Russian. Optical amplification of excimer occurs in dimer stage, and hence they are called excimer. These lasers are mostly operated in UV light spectrum. Excimers are used in ophthalmology in refractive surgery, photoablation of cornea, etc.
The global ophthalmic excimer laser system market is expected to expand at a robust CAGR during the forecast period. Rise in prevalence of ophthalmological diseases such as glaucoma, retinal vascular disease, myopia, etc. is an important driver of the global ophthalmic excimer laser system market from 2017 to 2025. According to the American Academy of Ophthalmology, around 2.7 million United States above the 40 years of age are affected with glaucoma. Surge in prevalence of chronic diseases such as diabetes mellitus and hypertension, which can lead to retinopathy, is another key factor driving the growth of the global ophthalmic excimer laser system market during the forecast period. Furthermore, increase in the number of refractive laser surgeries, technological advancement, rise in health care expenditure, awareness regarding eye care, growth in geriatric population, surge in cases of myopia, etc. are the other factors boosting the growth of the global ophthalmic excimer laser systems market during the forecast period. However, lack of awareness regarding ophthalmic disorders in developing countries is a major restraint of the global ophthalmic excimer laser system market during the forecast period.
The global ophthalmic excimer laser system market can be segmented into type of noble gas, application, end-user, and region. On the basis of type of noble gas, the global excimer laser system market can be divided into argon, xenon, krypton, and others. Based on application, the global ophthalmic market can be classified into refractive surgery, cataract surgery, trabeculoplasty, and others. The refractive surgery segment is expected to account for a major share of the global ophthalmic excimer laser system market during the forecast period due to rise in the number of surgeries for myopia. The global ophthalmic excimer laser market, on the basis of end-user, can be categorized into private eye clinics, eye hospitals, and outpatient retinal clinics.
In terms of region, the global ophthalmic excimer laser market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to dominate the ophthalmic excimer laser market during the forecast period. Increase in prevalence of myopia and rise in demand for refractive surgeries are the key drivers of the ophthalmic excimer laser system market in the region. Furthermore, advancement in technology, rise in awareness regarding diagnosis of eye diseases, high health care expenditure, etc. are the other factors contributing to the growth of the ophthalmic excimer laser systems market in North America. Europe is anticipated to constitute a significant share of the global ophthalmic excimer laser system market followed by North America due to growth in geriatric population. The ophthalmic excimer laser system market in Asia Pacific is anticipated to register a rapid growth rate during the forecast period. The region is highly lucrative for the ophthalmic excimer laser system market due to growth in aging population, adoption of health care solutions, rise in awareness regarding health care, prevalence of lifestyle related diseases, etc. Furthermore, prevalence in childhood blindness and high incidence of cataract and glaucoma are driving the growth of the ophthalmic excimer laser system market in Asia Pacific.
In order to maintain a significant position in the market, key players in the ophthalmic excimer laser system market are adopting strategies such as mergers and acquisitions, cost effectiveness, collaborative partnerships, etc. Prominent players operating in the global ophthalmic excimer laser system market include Novartis AG, Alma Lasers, Carl Zeiss Meditec AG, and Johnson & Johnson Vision Care, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.