Laser Vision Correction Market Size, Trends, SWOT Analysis, Strategies, and Forecast to 2027
The Global Laser Vision Correction Market report, at first, has given a brief understanding of the industry through basic overview. This overview includes the market definition, key applications of the product, and the recent manufacturing technology employed for such production. The Global Laser Vision Correction Market has been analyzed in detail to gain an understanding of the competitive landscape, key regional status, and recent trends noted in the relevant industry.
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Laser vision correction is carried out for treatment of patients suffering from myopia. Rise in demand for minimally invasive therapies as well as increase in prevalence of refractive disorders are expected to fuel the market growth. Moreover, increase in research and development activities to treat refractive impairments will drive the market growth during this forecast period.
Market Drivers
Rise in number of product launches by key players in market is considered as key driving factor which is expected to boost the global laser vision correction market growth. For instance, in November 2015, Alcon which is division of Novartis AG had launched Contoura vision, first personalized LASIK procedure at the AAO (American Academy of Ophthalmology’s annual meeting in U.S. Contoura vision is a type of topography-guided LASIK treatment which developed to help surgeons or healthcare professionals who perform personalized laser procedures on patients. Also, in October 2018, Alcon had launched advanced WaveLight Refractive Suite which can be used with Contoura Vision to guide healthcare professionals and surgeons in detection of abnormality of eyes.
Market Restraints
However, product recall is the major challenging factor for market which is expected to hinder the global laser vision correction market growth. LASIK (Laser Assisted In-Situ Keratomileusis) surgery devices are highly computerized devices which can experience technical issues. Due to these technical issues the U.S. FDA had recalled LASIK surgery devices which expected to obstruct the market growth. For instance, in March2018, SIE AG’s FEMTO LDV(TM) Z8 Femtosecond Surgical Laser, a product is recalled by US FDA due to customer complaint received on NOV 2017, about a complication with cataract procedure.
Market Key Players
Various key players are discussed in this report such as Carl Zeiss Meditec AG, Johnson & Johnson, Ziemer Group AG, Bausch Health Companies Inc, Schwind Eye-tech-solutions, SIE AG, Noavartis AG, Nidek co., Ltd, and Alcon.
Market Taxonomy
By Type
- Excimer Laser
- Femtosecond Laser
By Procedure
- LASIK (Laser Assisted In-Situ Keratomileusis)
- PRK (Photo Refractive Keratectomy)
- SMILE (Small Incision Lenticule Extraction)
- Others
By Therapeutic Application
- Cataract
- Astigmatism
- Presbyopia
- Hyperopia
- Myopia
By End User
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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