LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global ophthalmic femtosecond lasers market is expected to grow at a CAGR of more than 6% during the forecast period.
This research report titled ‘Global Ophthalmic Femtosecond Lasers Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global ophthalmic femtosecond lasers market into three major end-user segments. They are:
- Eye care centers
Hospitals such as multi-specialty hospitals and hospital groups work under government sponsorship or through private entities. These hospitals have more than 500 hospitals beds and offer many inpatient and outpatient services. They procure medical products and consumables on bulk and engage closely with many suppliers, reimbursement authorities, and government organizations. They also have the state-of-the-art medical infrastructure to cater to the needs of people.
Other smaller hospitals are categorized as mid-sized hospitals. These hospitals often rely on third-party laboratory testing support and medical equipment for their healthcare services. They have a limited budget and have 200-300 hospital beds. Unlike large hospitals, the administration of these hospitals is often decentralized. The number of mid-sized hospitals is higher than large hospitals as they are easily accessible to people.
Eye care centers
Eye care centers are gaining high popularity and are expected to have the maximum eye surgery procedures performed during the forecast period. They can be large, medium, or small-sized eye care centers based on the volume of eye care treatment performed.
The large-sized eye care centers are linked with many hospitals and provide cost-effective treatment with improved patient care. These centers invest in advanced eye care facilities with modernized equipment, which helps to reduce medical expenses and minimizes the duration of result delivery.
“Factors such as an increase in aging population, increase in disposable income, advances in healthcare infrastructure, and increased acceptance of LASIK surgeries is expected to drive the market for ophthalmic femtosecond lasers,” says Barath, a lead analyst at Technavio for medical devices research.
Ambulatory surgical centers (ASCs)
ASCs conduct surgeries in outpatient settings, which help individuals save on cost and duration of the treatment. These centers are equipped with advanced operating equipment, specialist surgeons, and recovery rooms. These clinics are not burdened by administrative procedures, as in the case of large hospitals. Hence, the ASC providers are under pressure to perform services at a lower cost thus reducing the healthcare costs borne by insurance providers and the government.
“The rising patient pool has led governments and most insurance companies worldwide to expand their insurance coverage including vision care. The regularization of reimbursement and insurance coverage to reduce people's out-of-pocket expenditure will likely rise the demand for ophthalmic laser systems,” says Barath.
The top vendors highlighted by Technavio’s healthcare and life sciences market research analysts in this report are:
- Abbott Medical Optics
- Bausch & Lomb
- Carl Zeiss Meditec
- Ziemer Ophthalmic Systems
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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