Global Photocoagulator Devices Market, By Clinical Condition (Diabetic Retinopathy, Age Related Macular Degeneration), Application (Retinal Laser Photocoagulation, Iridotomy, Laser Trabeculoplasty, Iridoplasty), End Use (Hospitals, Clinics, Others) – Industry Trends and Forecast to 2029.
Photocoagulator Devices Market Analysis and Size
The market for photocoagulator devices is anticipated to grow during forecast period. Major factors in the market expansion include the global influence of COVID-19 on eye health as well as the rise in the prevalence of ocular illnesses, diabetes, and age-related ophthalmic issues. A photocoagulator is a surgical instrument containing a laser which is used to coagulate and seal leaky eye tissue to prevent seepage from a damaged macular or ruptured vessel.
Data Bridge Market Research analyses that the photocoagulator devices market which was USD 216.5 million in 2021, would rocket up to USD 289.06 million by 2029, and is expected to undergo a CAGR of 3.7% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Photocoagulator Devices Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Clinical Condition (Diabetic Retinopathy, Age Related Macular Degeneration), Application (Retinal Laser Photocoagulation, Iridotomy, Laser Trabeculoplasty, Iridoplasty), End Use (Hospitals, Clinics, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Quantel Medical (France), Meridian Group International (U.S.), SIGM Solutions ERP (U.S.), Lumenis Be Ltd. (Israel), Ellex (Australia), IRIDEX Corporation (U.S.), NIDEK CO., LTD. (Japan), and Alma (U.S.)
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Market Opportunities
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Market Definition
Photocoagulator is a type of semi-automatic pattern scan laser photocoagulation system designed to treat ocular diseases with the help of a single shot or predetermined pattern array. The device is for ophthalmologists, chiefly those that focus in vitreo-retinal surgery, which is an eye surgery. Photocoagulation is not used for tumours that involve the optic disc or fovea, as this technique would result in loss of central vision. In such cases, external beam radiation or chemoreduction are typically used.
Photocoagulator Devices Market Dynamics
Drivers
- Developments in laser technology
The market is anticipated to be driven by developments in laser technology, including pattern scanning lasers, colour configuration, high contrast, slit lamps, conventional therapy using single pulses and spot sequences, gentle therapy using short pulses, and automated positioning of the scan pattern to the following area to undergo photocoagulation. This will boost the market growth.
- Technological developments
The market for photocoagulator devices is anticipated to be significantly affected by the technological development of the laser. A laser photocoagulator for treating a patient's eye is made up of a laser, optical equipment for sending the laser's output beam to the patient's eye, and a laser that can work in more than one mode.
Some of the factors that will drive the growth of the photocoagulator devices market in the forecast period of 2022 to 2029 are an increasing geriatric population, shorter treatment times, improved medical diagnostic facilities in developing countries, and decreased discomfort.
On the other hand, the market for photocoagulator devices will rise during forecast period due to numerous prospects being further boosted by rising technical advancements.
Opportunities
The photocoagulator devices market's growth is fuelled by high prevalence of diabetic retinopathy and its expected increase during the forecast period. This will provide beneficial opportunities for the photocoagulator devices market growth.
Moreover, increase in the number of emerging markets and new product launches will further provide beneficial opportunities for the photocoagulator devices market growth during the forecast period.
Restraints/Challenges
- Stringent regulations
On the other hand, the stringent government regulations along with inadequate awareness about highly advanced techniques and insufficient reimbursement will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the photocoagulator devices market.
This photocoagulator devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the photocoagulator devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Photocoagulator Devices Market
The COVID-19 virus has significantly impacted the healthcare system and interfered with a number of standard medical procedures, including ophthalmology. This is due to the intimate contact necessary for an examination and treatment in ophthalmology, which raises the danger of infection. Additionally, patients who frequent ophthalmology clinics are at a high risk of contracting infections. These issues are predicted to limit the use of certain ophthalmic techniques such as photocoagulation, which is predicted to impede market expansion.
Global Photocoagulator Devices Market Scope
The photocoagulator devices market is segmented on the basis of clinical condition, application and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Clinical Condition
- Diabetic Retinopathy
- Age Related Macular Degeneration
Application
- Retinal Laser Photocoagulation
- Iridotomy
- Laser Trabeculoplasty
- Iridoplasty
End Use
- Hospitals
- Clinics
- Others
Photocoagulator Devices Market Regional Analysis/Insights
The photocoagulator devices market is analysed and market size insights and trends are provided by country, clinical condition, application and end use as referenced above.
The countries covered in the photocoagulator devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the photocoagulator devices market due to the growing number of geriatric population along with adoption of innovative medical technology.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising health awareness among the people and growing demand of advanced medical technology.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The photocoagulator devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for photocoagulator devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the photocoagulator devices market. The data is available for historic period 2010-2020.
Competitive Landscape and Photocoagulator Devices Market Share Analysis
The photocoagulator devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to photocoagulator devices market.
Some of the major players operating in the photocoagulator devices market are:
- Quantel Medical (France)
- Meridian Group International (U.S.)
- SIGM Solutions ERP (U.S.)
- Lumenis Be Ltd. (Israel)
- Ellex (Australia)
- IRIDEX Corporation (U.S.)
- NIDEK CO., LTD. (Japan)
- Alma (U.S.)
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