Global LASIK Eye Surgery Market will expand at 6.5% CAGR between 2018 and 2022, projects Market Research Future (MRFR) in its latest report. LASIK stand for Laser-Assisted in Situ Keratomileusis (LASIK) and is one of the most commonly used surgical procedures for treating vision disorders such as hyperopia, astigmatism and myopia among others. The global prevalence of vision disorders has increased significantly in recent years. In 2015, close to 285 million people were diagnosed with vision impairment issues and number has continued to grow. Meanwhile, manufacturers of LASIK eye surgery devices are ramping up investments in research and development activities in order to improve their product portfolio and provide better treatment options.
In addition, many of the companies operating in the market are actively implementing merger and acquisition strategies to expand their operations to new markets and create stronger synergies. Over the years, government funding and support in R&D has also increased in the field of ophthalmology, hence creating greater possibilities of providing cost-effective eye care. The aforementioned factors are expected to influence the market throughout the forecast period. On the other hand, reducing the cost of vision correction treatments remains a formidable challenge for market players.
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The improved sending potential of patients is an important factor that is expected to guide the advance of the LASIK eye surgery market. Moreover, the recovery time following a LASIK eye surgery is considerably reduced, which is increasing the number of patients who are voluntarily opting for this surgery. The presence of skilled professionals who can effectively conduct LASIK surgeries is expected to enhance the market growth in the coming years.
Worldwide LASIK Eye Surgery Market – Competitive Landscape
The demographics present in the market present a favorable outlook in terms of product expansion and future growth potential. The strategies in the market are being aimed at improving the overall progress of the market, with the business models taking into account all contingencies that may arise in the coming years. The profitability in the market is enhanced significantly by the existence of strong strategies deployed by market players. The market is ushering in a phase of development that is expected to be motivated by the positive factors in the market. The identification and use of apposite media channels are expected to transform the market development in the coming years. The pull created by the businesses in the market by positioning marketing policies and events is additionally growing the development of the market. The improvement of production resources is likely to stimulate the market’s improvement in the forecast period.
- Alcon Laboratories Inc. (U.S.),
- AMO Manufacturing USA, LLC (U.S.),
- Abbott Inc. (U.S.),
- Carl Zeiss, Inc. (Germany),
- LaserSight Technologies, Inc (U.S.),
- Bausch & Lomb Incorporated (U.S.),
- Nidek Inc. (Japan)
Industry, Innovation & Related News
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 – Segmental Analysis
The segmental evaluation of the LASIK Eye Surgery market is conducted on the basis of vision error, region, types, and end-user. Based on the type, LASIK Eye Surgery is segmented into wavefront-optimized, topography-guided, wavefront-guided, and all laser. Based on the vision error, LASIK Eye Surgery is segmented into hyperopia, astigmatism, myopia, and others. Furthermore, the myopia segment is sub-segmented into induced, simple, or acquired, nocturnal, pseudomyopia, degenerative, and others. The Hyperopia segment is also sub-segmented into pathologic hyperopia, physiologic hyperopia, and others. The astigmatism is sub-segmented into hyperopic astigmatism, myopic astigmatism, mixed astigmatism, and others. Based on the end-user, the LASIK eye surgery is segmented into LASIK centers, hospitals, eye care clinic, and others. By regions, the LASIK eye surgery market comprises of Asia Pacific, Europe, North America, the Middle East, and Europe.
Regional Analysis – LASIK Eye Surgery Market
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 region 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.
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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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