LASIK Eye Surgery Market Synopsis
Market Research Future (MRFR) proclaims that the global LASIK eye surgery market is anticipated to register a CAGR of 6.5% during the forecast period (2017-2022). The rapid occurrence of vision problems across the world is estimated to favor the market growth. Also termed as laser eye surgery or laser vision correction, Laser-assisted in situ keratomileusis or LASIK is a kind of refractive surgery which is generally performed to correct myopia, hyperopia, and astigmatism. LASIK is generally performed by an ophthalmologist who uses a laser or microkeratome to reshape the cornea of the eye and also improve the visual acuity.
LASIK Eye Surgery Market Potential and Pitfalls
Vision problems across the globe are increasing at an alarming rate due to excessive work pressure and changing lifestyle where an individual focus more into studies and spent less time outdoors. This is likely to contribute to the LASIK eye surgery market in the future. Several companies are investing in research and development activities in order to introduce better treatment options for vision problems. For instance, Alcon Laboratories Inc. launched the next generation hydrogen peroxide lens care solution, AOSEPT PLUS with HydraGlyde Solution in 2015. Such product launches are estimated to propel the market growth throughout the appraisal period. Moreover, companies are also investing in mergers and acquisitions for entering the new market, which is estimated to influence its growth worldwide.
The surging awareness among the people is considered one main reason for the market’s growth. The rising vision defects due to consistent use of laptops, computers, and mobile phones and increased global pollution are some of the major factors likely to trigger the demand for LASIK eye surgery worldwide. Moreover, the surgery is considered to be effective as it offers fast recovery time, shorter hospital stays, high precision, and less blood loss. With the rising health concern coupled with increasing disposable income, the market is considered to flourish throughout the appraisal period.
On the contrary, LASIK eye surgery costs high and is not affordable by every segment of audiences. This is estimated to deter the market growth across the globe. Moreover, the technical complexities associated with LASIK eye surgeries can damage the vision permanently. Such factors are estimated to vitiate the market growth in the coming years.
Market Research Future (MRFR) collected data on several factors including implications of COVID 19 Impact on LASIK Eye Surgery Market and demographic challenges, showed how it could move forward in the coming years.
Global LASIK Eye Surgery Market: Segmental Analysis
The global LASIK eye surgery market has been segmented on the basis of vision error, types, and end user.
By mode of type, the global LASIK eye surgery market has been segmented into Wavefront-guided, Wavefront optimized, all laser, and topography-guided. Among these, the Wavefront-guided segment is considered to be an advanced technology and utilizes optical aberrations in order to measure and treat high-order aberrations and correct vision.
By mode of vision error, the global LASIK eye surgery market has been segmented into hyperopia, myopia, astigmatism, and others.
By mode of end-users, the global LASIK eye surgery market has been segmented into eye care clinic, hospitals, LASIK centers, and others. Among these, the hospitals are estimated to command a major share owing to the high availability of specialized LASIK treatment packages, the surging prevalence of refractive disorders, and entry of private hospitals.
LASIK Eye Surgery Market Regional Insights
Geographically, the LASIK eye surgery market span across regions namely, the America, Asia Pacific, Europe, and the Middle East & Africa.
Considering the global scenario, the LASIK eye surgery market is dominated by the American regio
Market Research Future (MRFR) collected data on several factors including implications of covid-19 impact on microbiome sequencing services market and demographic challenges, showed how it could move forward in the coming years.
n and is likely to retain its pole position in the global market. The growth is credited to the presence of a well-developed technology, high spending on healthcare, increased population affected by vision issues, and extensive government support for R&D activities. With the high concentration of major market players coupled with increased R&D activities, the market is predicted to propel.
The European region is considered to occupy the second spot in the global market due to extensive support from the government for R&D activities coupled with the high availability of funds for research. For instance, economies such as France and Germany are increasing their investment value in the healthcare sector which is likely to contribute towards its growth.
The Asia Pacific region is estimated to expand at the fastest rate due to the rapidly developing healthcare technology, increased expenditure on healthcare, and the presence of a huge patient population in this region. With the surging demand for new treatment methods, especially in economies like China and India, the market is estimated to flourish at a rapid pace.
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LASIK Eye Surgery Industry Updates
March 28, 2019: A leading comprehensive eye care center in Arizona, Horizon Eye Specialists & LASIK Center has recently announced that they have started to provide custom LASIK surgery, which is exclusively powered by the iDESIGN. The iDESIGN Advanced WaveScan Studio System generates high-definition eye scan which has been proven to be 25 times more precise than any other traditional LASIK procedures.
LASIK Eye Surgery Market Competitive Dashboard
The prominent players operating in the LASIK eye surgery market comprises LaserSight Technologies Inc (U.S.), Alcon Laboratories Inc. (U.S.), Bausch & Lomb Incorporated (U.S.), Abbott Inc. (U.S.), Carl Zeiss Inc. (Germany), AMO Manufacturing USA LLC (U.S.), and Nidek Inc. (Japan).