The introduction of new technologies like customized or wave front-guided lasers and bladeless LASIK procedures is gaining traction and is expected to increase the demand for LASIK procedures during the forecast period. Entry of several private hospitals and ophthalmology clinics is also providing significant traction for LASIK procedures, moreover several clinics are using social media and other advertising medium to promote and create awareness about the benefits of LASIK treatments which in turn is expected to increase the number of people opting for LASIK treatment procedures. The manufacturers and clinicians are constantly trying to improve cost effectiveness of the LASIK procedure and trying to reduce prices of the procedures which is expected to provide significant opportunities in near future, however high price of the treatment procedure still remains a hurdle for LASIK treatment market. Also, presence of several manufacturers in LASIK treatment market is expected to create fierce competition in the market during the forecast period.
The North America and Europe are expected to be the dominant regions in the LASIK treatment market due to high adoption of the LASIK procedures in these regions. The demand for LASIK treatment procedures is highest in the U.S. followed by Europe. The increasing demand for cosmetic surgery among the younger generation in these regions is expected to create high demand in the market. Asia Pacific is expected to witness highest growth in the LASIK treatment market owing to high population between the age group of 18-35 years and due to increasing adoption of the LASIK treatment procedure. Asia Pacific is expected to witness highest growth in terms of CAGR during the forecast period followed by Latin America owing to favorable policies like tax holidays in some countries along with increasing per capita healthcare expenditure. MEA region is expected to witness sluggish growth in terms of revenue however increasing socio-economic stability in this region may promote growth of the LASIK treatment market.
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Some key participants in the LASIK treatment market are Carl Zeiss, Inc., Alcon Laboratories, Inc., Wavelight AG, VISX, Inc., Bausch & Lomb Surgical, Inc., AMO Manufacturing USA LLC, Nidek, Inc., Lasersight Technologies, Inc. and Summit Automonous, Inc. among others.
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