The ophthalmic lasers market is projected to reach USD 1.2 billion by 2021 from USD 970.2 million in 2016, at a CAGR of 5.1%.
Increasing prevalence of ophthalmic disorders, increasing prevalence of chronic disorders, rising geriatric population, increasing regulatory approvals, and increasing initiatives to prevent vision impairment are some factors driving the growth of the global ophthalmic lasers market. On the other hand, high cost of the equipment and therapies is expected to restrain the growth of the market. However, increasing number of hospitals and clinics in emerging economies such as China, India, and Pacific countries are providing growth opportunities for the ophthalmic lasers market.
In 2016, North America is expected to account for the largest share of the global ophthalmic lasers market, followed by Europe, Asia-Pacific, and Rest of the World (RoW). North America's large share is attributed to the increasing prevalence of ophthalmic disorders, rising prevalence of chronic diseases, and increasing regulatory approvals.
In the coming years, the ophthalmic lasers market is expected to witness the highest growth in the Asia-Pacific region, with emphasis on India, China, and Japan. This can be attributed to factors such as high prevalence of ophthalmic disorders, introduction of initiatives for prevention of blindness and treatment projects for various ophthalmic disorders, and rising aging population.