LASIK (Laser-Assisted in Situ Keratomileusis) is a widely performed surgical procedure to correct common vision issues such as nearsightedness, farsightedness, and astigmatism. The procedure involves using a laser to reshape the cornea, allowing proper focusing of light onto the retina. LASIK is known for its quick recovery and the potential for immediate vision improvement. While it offers the convenience of reduced dependence on glasses or contact lenses, suitability for the procedure varies among individuals, and consultation with an eye care professional is crucial to assess candidacy and understand potential risks and benefits.
According to Data Bridge Market Research analyses the Global LASIK Eye Surgery Market which was USD 3360.00 million in 2022, is expected to reach USD 4964.25 million by 2030, and is expected to undergo a CAGR of 5.00% during the forecast period of 2023-2030.
"Improved Lifestyle Factors Boosts the Market Growth"
The global LASIK eye surgery market is growing due to a rise in demand fueled by contemporary lifestyle preferences. As individuals increasingly prioritize convenience, active living, and a reduction in dependency on corrective eyewear, LASIK surgery emerges as a compelling solution. The appeal lies in the convenience of waking up with clear vision, allowing for a more spontaneous and active lifestyle without the encumbrance of glasses or contact lenses. This aligns with the fast-paced nature of modern life, catering to those seeking efficient and hassle-free vision correction. LASIK also addresses the desire for greater flexibility, both in daily activities and professional pursuits, as well as the aesthetic consideration of boosting confidence and self-esteem. As a result, the market is driven by a convergence of lifestyle factors, positioning LASIK surgery as a transformative solution for vision correction on a global scale.
What restraints the growth of global LASIK eye surgery market?
“High Costs Hampers the Market Growth”
The high cost of LASIK surgery serves as a significant restraint in the global LASIK eye surgery market. As an elective or cosmetic procedure, LASIK is often not covered by insurance, placing the entire financial burden on patients. This upfront cost creates a notable barrier for individuals with limited financial resources, deterring them from pursuing LASIK surgery. The classification of LASIK as elective rather than medically necessary further exacerbates the lack of insurance coverage, impacting the procedure's accessibility. This financial constraint not only limits the potential patient pool but also hinders the overall growth of the LASIK surgery market.
Segmentation: Global LASIK Eye Surgery Market
The global LASIK eye surgery market is segmented on the basis of type, vision error, product and end-user.
- On the basis of type, the global LASIK eye surgery market is segmented into wavefront optimized, wavefront-guided, topography guided, and all laser
- On the basis of vision error, the global LASIK eye surgery market is segmented into myopia, hyperopia, astigmatism, and others
- On the basis of end-user, the global LASIK eye surgery market is segmented into hospitals, eye care clinic, LASIK centres, and others
- On the basis of product, the global LASIK eye surgery market is segmented into excimer laser, and femtosecond laser
Regional Insights: North America dominates the Global LASIK Eye Surgery Market
North America dominates the LASIK eye surgery market because of its strong healthcare infrastructure, major industry players, increasing eye disease cases, and proactive research initiatives. The region's accessibility to LASIK procedures, coupled with a high concentration of key players, drives market leadership. The prevalence of eye disorders and a commitment to research place North America at the forefront of LASIK surgery advancements.
The LASIK eye surgery market in the Asia-Pacific region is set for significant growth from 2023 to 2030 due to government initiatives promoting eye health, a surge in medical tourism, increasing research activities, untapped market potential, a large population base, and growing demand for quality healthcare services. Asia-Pacific emerges as a promising and dynamic market for LASIK surgery in the coming years.
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Recent Developments in Global LASIK Eye Surgery Market
- In August 2021, Eye Health America revealed its acquisition of Nielsen Eye Center, marking a strategic move to enhance its patient care continuum in the Tampa Bay Area.
- In June 2021, the Jawaharlal Institute of Postgraduate Medical Education and Research (JIPMER) introduced the launch of Lasik surgery, demonstrating a significant advancement in their medical services.
The Prominent Key Players Operating in The Global LASIK Eye Surgery Market Include:
- Abbott (U.S.)
- Johnson & Johnson Private Limited (U.S.)
- ZEISS international (Germany)
- NIDEK CO., LTD (Japan)
- Ziemer Ophthalmic Systems (U.S.)
- Alcon (Switzerland)
- AMO Manufacturing USA, LLC (U.S.)
- LaserSight Technologies, Inc (U.S.)
- Bausch & Lomb Incorporated (U.S.)
- Alcon Laboratories Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global LASIK eye surgery market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global LASIK Eye Surgery Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
