LASIK Eye Surgery Market – Summary
LASIK stands for laser assisted in situ keratomileusis. In layman terms it is known as a laser eye therapy. This procedure is used to cure optical disorders like astigmatism, hyperopia & myophia. Owing to the recent developments in the healthcare sector, the Global LASIK Eye Surgery Market is gaining momentum. Commonly, this therapy is performed by an ophthalmologist. For the procedure a laser ray which is known as microkeratome medically is employed. The laser beam then adjusts the eye’s cornea to treat whatever defect the eye has. Majority of the people who undergo this therapy do not require to use spectacles of contact lenses after it.
From the time of its inception, this innovative and beneficial therapy has only attained appreciation. More and more people have started realizing its unparalleled effects. Owing to this fact it can be safely said that development is on the horizon.
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The worldwide LASIK eye surgery market is expected to improve massively over the projection period of 2018-2022. Experts believe that the market will grow at a CAGR of around 5.9%. At present this industry is valued at a staggering USD 1.4 billion and is projected for growth in near future.
The high growth rate of this market can be attributed to a number of drivers. The rising figures of people getting affected with eye diseases are a major growth factor amongst others. If reports are to be trusted, it is said that above 284.6 million people across the globe suffer from optical disorders. These people get eye diseases due to constant computer exposure, atmosphere changes & modern lifestyle.
Additional factors that fuel the development of the market include higher expenditure on R&D, government assistance & support. But the expensiveness of this treatment may act as an obstacle for the market. Although, over the years once enough research has been made, this problem can be overcome.
The global LASIK eye surgery industry is divided into four portions end users, vision errors, types & geographies.
On the basis of end users, the market is segmented into eye care clinics, LASIK centers & hospitals.
The vision errors section comprises of astigmatism, myopia & hyperopia. Astigmatism is further bifurcated into mixed astigmatism & hyperopic astigmatism. The myopia segment is separated into degenerative, acquired, psuedomyopia & nocturnal. Whereas, pathologic hyperopia & physiologic hyperopia form the sub segments of hyperopia.
On account of types the market is fragmented into all laser, wave front boosted, topography-guided & wave front guided.
Regionally the market for LASIK eye surgery spans across many countries. Some of the major ones include America, Europe, Asia Pacific, Middle East & Africa & Rest of the World. Amongst these, Americas is at the forefront in terms of market share. It is because of heightened use of technology, higher number of eye-disease sufferers & better healthcare set ups. After this region, Europe is second in command. Furthermore, the Asia Pacific region is also expected to grow steadily in the coming years.
The worldwide LASIK eye surgery market is not new to innovations and product launches. One of the most useful products that this industry has seen is the VISX Star S4. It boasts of an iris intralase blade-free laser and Iris registration. It has proven its worth in treating a number of eye disorders. Its biggest achievement till date is that after its usage patients do not experience any post-surgery side effects.
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Market Players & Strategies
This market is full of intelligent and affluent market layers. Some of the big names in this industry include, Carl Zeiss, Alcon Laboratories Inc, Abbott Inc., & Carl Zeiss. The key strategies used by these brands include strategic acquisitions and investment on research and development.
Major TOC LASIK Eye Surgery Market:
- Report Prologue
2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
3. Research Methodology
3.2 Primary Research
3.3 Secondary research
3.4 Market Size Estimation
4. Market Dynamics
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