Laser Probe Market 2019 Analysis by Novartis AG, Bausch & Lomb Incorporated

Posted by Andre on November 5th, 2019

This market insights covered in report simplifies managing marketing of goods and services effectively. All the data and statistics given in this market report are backed up by latest and proven tools and techniques such as SWOT analysis and Porter’s Five Forces Analysis. In the report, market overview is given in terms of drivers, restraints, opportunities and challenges where each of this parameter is studied scrupulously. With the latest and updated market insights mentioned in the report, businesses can concentrate to enhance their marketing, promotional and sales strategies. This report is a wonderful guide for an actionable ideas, enhanced decision-making and better business strategies.

Global laser probe market is expected to rise to an estimated value of USD 2024.77 million by 2026 registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the increased focus on advancing the technologies associated with laser probes which has been affected by an increased investment expenditure on research & development.

Top Manufacturers Covered in the Report:

Few of the major competitors currently working in the global laser probe market are Novartis AG, Bausch & Lomb Incorporated, FCI, REIMERS & JANSSEN GmbH, ADInstruments, Transonic, Lumenis, OphthalMed LLC, Vitreq, IRIDEX Corporation, Quantel Medical, Katalyst Surgical, LLC, Vortex Surgical, D.O.R.C. Dutch Ophthalmic Research Center (International) B.V., Monteris, Oertli Instrumente AG, among others.

Key Developments in the Market:

•          In October 2018, Monteris announced that they had received the U.S. FDA clearance for their “NeuroBlate Optic Laser Probe”. The product is designed to use in “NeuroBlate System” which is a MRI-guided laser thermotherapy in treatment of brain tumors and epileptic foci. The product is a metal-thermocouple equipped with fiber optic controlled cooling capability providing better levels of safety in treatment.
•          In March 2018, IRIDEX Corporation announced that the “G-Probe Illuminate” product is ready for commercialization in the European region after they received CE marking. The product is designed for targeted transscleral cyclophotocoagulation (CPC). The probe offers combined transillumination and is the third laser probe by the company equipped with company’s “CYCLO G6 Glaucoma Laser System”. Due to its transillumination, the physicians/surgeons can provide better placement of probes resulting in better therapies.

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Market Drivers

•          Growth in geriatric population resulting in greater occurrence of ophthalmic disorders, is expected to drive the growth of the market
•          Increasing prevalence of ophthalmic diseases/disorders due to the increased prevalence of diabetic patients, this factor is expected to drive the growth of the market
•          Increased applications of these devices for more than just diagnostic usage, is expected to positively affect the growth of the market
•          Rising incidences of cases where the usage of probes are necessary, is expected to have a positive effect on the market

Market Restraints

•          Absence of knowledge and technically skilled professionals required for usage of these devices, is expected to act as a hindrance to the market growth
•          Presence of technologies and devices as an alternative to laser probes, are expected to restrain the growth of the market

Competitive Analysis:

Global laser probe market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of laser probe market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Reasons to Purchase this Report

•          Current and future of global laser probe market outlook in the developed and emerging markets
•          The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
•          Regions/Countries that are expected to witness the fastest growth rates during the forecast period
•          The latest developments, market shares, and strategies that are employed by the major market players