Femtosecond laser is a type of ophthalmic laser that works by generating photodisruption or photoionization of the optically transparent tissue such as the cornea. It emits pulses with durations between a few femtoseconds and hundreds of femtoseconds, and is also known as ultrafast laser. Femtosecond laser eliminates the need for bladed surgical tools for creating corneal flap. It also offers reduced amount of collateral damage making it safe for usage in corneal surgeries that require precision. This type of ophthalmic laser has applications in corneal refractive surgery including LASIK flap creation, astigmatic keratotomy (AK), channel creation for implantation of intrastromal corneal ring segments (ICRS), femtosecond lenticule extraction (FLEx), presbyopia correction, small-incision lenticule extraction (SMILE), and intrastromal presbyopia correction (INTRACOR). The FDA approval for a number of femtosecond lasers boosts market growth.

Global Ophthalmic Femtosecond Market: Dynamics

Technological Advancements in Ophthalmic Femtosecond Laser Boost Market Growth

Eye-related disorders have emerged as potential threats to the populations in all middle-income and industrialized countries. Leading causes of vision impairment include uncorrected refractive errors, cataract, age-related macular degeneration, glaucoma, diabetic retinopathy, corneal opacity, and trachoma. Femtosecond laser technology has been widely adopted by ophthalmic surgeons for cataract surgery, corneal surgery, refractive surgery, and other applications due to several advantages over traditional manual techniques. It offers numerous applications and various new treatment possibilities in many fields of ophthalmic anterior segment surgery.

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The global ophthalmic femtosecond market is moderately competitive and consists of several major players. Responding to increase in patient demand for treatment beyond cataract and refractive surgeries, femtosecond manufacturing companies are continuously investing in research and development for inventing new technology and devices. At the 2018 American Society of Cataract and Refractive Surgery meeting, three manufacturers announced 510(k) clearances from the FDA for three femtosecond lasers for new indications. These systems will support presbyopia-correcting procedures, facilitate keratoconus treatments, and address astigmatism. In 2016, Carl Zeiss Meditec AG received the FDA approval for its VisuMax Femtosecond Laser device, which helps in small incision lenticule extraction (SMILE) procedure to eliminate or reduce nearsightedness in certain patients 22 years of age or older.

Hence, continuous invention and technologically advanced product launch are projected to drive the global ophthalmic femtosecond market during the forecast period.

High Cost Associated with Ophthalmic Laser Procedures Hampers Market Growth

Laser surgery usually costs more than traditional surgery, and the extra cost associated with laser surgery are not covered by medical or health insurance. More than 80% of surgeons charge US$ 1,000 per eye for femtosecond laser assisted cataract surgery. Whereas 15.0% to 17.0% surgeons charge US$ 1,000 to US$ 1,500 per eye for the cataract surgery. According to an article, in 2017, average premium for laser arcuate incisions for astigmatism correction was US$ 1,188 per eye. People in developing and underdeveloped countries cannot afford such high treatment costs. This is likely to restrain the global market.

Global Ophthalmic Femtosecond Market - Competitive Landscape

Major players operating in the global ophthalmic femtosecond market include Bausch + Lomb Incorporated, Alcon (Novartis AG), Johnson & Johnson Services, Inc., Femtoblanc, Inc., ROWIAK GmbH, Ziemer USA, Inc., and Carl Zeiss Meditec AG.

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Johnson & Johnson Services, Inc.

Johnson & Johnson Services, Inc. is the world’s largest and most broadly based health care company, providing services for more than 130 years to keep people well at every age and stage of life. The company operates through three business segments: consumer products, medical devices, and pharmaceutical products. Vision care products including disposable contact lenses and ophthalmic products related to cataract and laser refractive surgery are offered under the medical devices segment. The company invented many of the treatments changing the trajectory of eye health, including extended depth of focus intraocular lenses for cataract patients with TECNIS Symfony, excimer, and femtosecond lasers, and soft disposable contact lenses. In September 2018, Johnson & Johnson Vision launched iDESIGN Refractive Studio for Next Generation of Personalized LASIK Treatment.

Bausch + Lomb Incorporated

Bausch Health Companies Inc., formerly known as Valeant Pharmaceuticals International, Inc., completed the acquisition of Bausch + Lomb Incorporated in 2013. The three reportable segments of Bausch Health Companies, Inc. are Bausch + Lomb/International, Branded Rx, and U.S. Diversified Products. Among these, Bausch + Lomb/International accounts for more than 50% of the revenue of Bausch Health Companies, Inc. Bausch + Lomb/International has a diversified product line. VICTUS femtosecond laser offered by Bausch + Lomb Incorporated delivers multi-mode versatility for cataract and corneal procedures on a single platform.

Global Ophthalmic Femtosecond Market: Segmentation

The global ophthalmic femtosecond market can be segmented based on:

  • Configuration
  • Application
  • End-user
  • Distribution Channel
  • Region

In terms of configuration, the global ophthalmic femtosecond market can be bifurcated into:

  • Trolley Mounted
  • Floor Standing

Based on application, the global ophthalmic femtosecond market can be classified into:

  • Refractive Surgery
  • Incision for ICRs
  • Corneal Surgery
  • Cataract Surgery
  • Presbyopia Correction
  • Others

In terms of end-user, the global ophthalmic femtosecond market can be categorized into:

  • Hospitals
  • Clinics
  • Specialty Eye Institutes
  • Ambulatory Surgical Centers

Based on distribution channel, the global ophthalmic femtosecond market can be divided into:

  • Direct Tender
  • Retail

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
  • Europe
  • 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.

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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.

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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.

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