Global LASIK Eye Surgery Market, By Type (Wavefront Optimized, Wavefront-Guided, Topography Guided, All Laser), Vision Error (Myopia, Hyperopia, Astigmatism, Others), End-User (Hospitals, Eye Care Clinic, LASIK Centers, Others), Product (Excimer Laser, Femtosecond Laser) – Industry Trends and Forecast to 2029
LASIK Eye Surgery Market Analysis and Size
The global LASIK eye surgery market is expected to witness significant growth during the forecast period. It reshapes the front surface or cornea to enable light entering the eye and focus on the retina. With more number of people suffering from eye disorders is the major factor leading to the increase in market growth. Rising demands for minimally invasive surgical procedures with technological advancements in ophthalmic surgeries also contribute to the market. COVID-19 also had a major impact on the market growth.
Data Bridge Market Research analyses a growth rate in the global LASIK eye surgery market in the forecast period 2022-2029. The expected CAGR of global LASIK eye surgery market is tend to be around 4.52% in the mentioned forecast period. The market was valued at USD 3.20 billion in 2021, and it would grow upto USD 4.56 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
LASIK is a corrective eye surgery used to treat myopia, hypermetropia, or astigmatism. It is gradually gaining popularity to treat ophthalmic disorders as it is a permanent alternative to opt out of wearing spectacles or lenses. It is a type of refractive surgery in which the curvature of the corneal surface is reshaped or altered to correct the vision.
LASIK Eye Surgery Market Scope and Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Billion, Volumes in Units, Pricing in USD
By Type (Wavefront Optimized, Wavefront-Guided, Topography Guided, All Laser), Vision Error (Myopia, Hyperopia, Astigmatism, Others), End-User (Hospitals, Eye Care Clinic, LASIK Centers, Others), Product (Excimer Laser, Femtosecond Laser)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Abbott (U.S.), Johnson & Johnson Private Limited (U.S.), ZEISS international (Germany), NIDEK CO., LTD (Japan), Ziemer Ophthalmic Systems (U.S.), Alcon (Switzerland), Alcon (Switzerland), AMO Manufacturing USA, LLC (U.S.), LaserSight Technologies, Inc (U.S.), Bausch & Lomb Incorporated (U.S.), Alcon Laboratories Inc. (U.S.)
Global LASIK Eye Surgery Market Dynamics
- Growth in Eye Care Clinics
The growth in eye care clinics is driving the market growth. It can be due to huge growth in the upliftment of special eye care clinics across the world. In addition to this, the standard treatment procedures are attracting the attention of a larger number of patients along with developed ophthalmic surgical equipment, boosting the global LASIK surgery market.
- Reduced Dependency on Traditional Methods
The development of many highly successful treatments that reduce the patient's dependency on contact lenses or glasses is also one of the primary factors for the growing market. In addition, increasing demand for minimally invasive surgical treatments is also expected to boost the market's growth.
- Rising Incidence of Vision Impairment
According to a WHO, approximately 285 million people worldwide have vision impairment, and it states that myopia affects 1.89 billion people worldwide, and if the incidence remains consistent over the years, it will affect 2.56 billion people by 2020. Hence, all these eye disorders are boosting the market growth.
- Increasing Awareness and Technological Advancement
The potential of complications and side effects is there with almost all operations, however LASIK is typically regarded as a safe procedure with a low complication rate. With a complication rate of fewer than 1%, Lasik eye surgery is one of the safest elective surgical procedures currently accessible. According to the most recent studies, LASIK has a success rate of 90% for achieving 20/20 vision and a success rate of 95% for 20/40 vision or superior. One of the most recent developments in Specs Removal via Laser Vision Correction is Contoura Vision.
- Lack of skilled professionals
The lack of qualified personnel who are unable to perform these surgeries could curb the growth of the global LASIK eye surgery market over a forecast period.
- High Cost
The huge expenditure of these surgeries surely hamper the market growth.
This global LASIK eye surgery market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global LASIK eye surgery market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global LASIK Eye Surgery Market
Considering the present scenario, COVID-19 has left a drastic global public health crisis that has impacted practically every business. Its long-term consequences are expected to boost the industry growth in the mentioned period.
COVID-19 pandemic had had a negative impact on the LASIK eye surgery market. But, with the upliftment of several industries and medical practices, the market is again expected to observe positive growth.
- Eye Health America announced accession of Nielsen Eye Center in August 2021. This acquisition will expand Eye Health America’s continuity of patient care in Tampa Bat Area.
- Jawaharlal Institute of Postgraduate Medical Education and Research (Jimper) launched Lasik surgery in June 2021.
Global LASIK Eye Surgery Market Scope
The global LASIK eye surgery market is segmented on the basis of type, vision error, product and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Wavefront Optimized
- Topography Guided
- All Laser
- Excimer Laser
- Femtosecond Laser
- Eye Care Clinic
- LASIK Centers
LASIK Eye Surgery Market Regional Analysis/Insights
The global LASIK eye surgery market is analysed and market size insights and trends are provided by type, vision error, product and end-user as referenced above.
The major countries covered in the global LASIK eye surgery market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
America dominates the market growth due to well-developed technology and an expanding population affected by visual problems.
Asia-Pacific is expected to have highest growth in the LASIK eye surgery market due to increasing number of refractive errors, surging eye care expenditure, rising government initiatives, and rising number of eye care centers.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global LASIK Eye Surgery Market Share Analysis
The global LASIK eye surgery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global LASIK eye surgery market.
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.)