In 2014, the global market for personalized LASIK was worth USD 1.43 billion. Market growth is expected to be supported by the growing popularity of corrective and laser eye surgery. Market growth is expected to be driven by technologically advanced tools, an increasing number of LASIK centers offering personalized LASIK surgery, and rising awareness regarding safety and efficacy.
Refractive impairments like myopia (nearsightedness), hyperopia, presbyopia, astigmatism and hyperopia (farsightedness) can cause difficulties in daily activities and increase the need to wear glasses. According to the American Academy of Ophthalmology, 35% of Americans wear glasses because of eye problems. Around 25% of people around the world opt for laser eye sight correction surgery as a lifetime option to using glasses or lenses.
U.S. personal LASIK market by type 2012-2022 (USD Million).
The development of highly-technical instruments that are sensitive, fast, and user-friendly has led to a rising demand for minimally invasive surgery. This is due to the associated benefits, such as shorter hospital stays and low blood loss. Personalized LASIK surgery will be more popular if they are available. The iLASIK platform, which includes IntraLase FS lasers, was developed by AMO and is widely favored.
Patients with vision problems are being helped by many organizations and government institutions. This is expected to increase market demand. The National Eye Institute, for example, supports research and product development in the area of eye care. BlueCross BlueSheld QualSight offers Federal Employees discounts on LASIK surgeries.
Personalized LASIK procedures can be segmented into Topography-guided, Wavefront optimized and Wavefront-optimized surgeries.
Wavefront-based procedures measure the cornea of patients based on the light's path through the eyes and falls upon the retina. This laser procedure can be customized to the patient's specific eye anatomy. Topography-based methods measure the eye surface based on the anatomy of the patient's eyes.
In 2014, the wavefront-guided LASIK segment accounted for 39% of the total market. Wavefront-guided systems currently available include iDesign Advanced CustomVue LASIK System and WaveScan System. CustomVue is offered by Abbott Medical Optics (AMO) and Technolas Zyoptix System by Bausch &Lomb.
Over the forecast period, topography-guided LASIK systems will experience lucrative growth. This growth is due to the ease of procedure, speed and regulatory approval of key instruments. There are also fewer side effects.
WaveLight EX500 Excimer laser system by Alcon is a commercially available tool for topography-guided procedure.
North America dominated the customized LASIK market in 2014. It generated a total revenue of more than USD 630.0 millions. This region's market position is due to the presence of key players, growing awareness levels and established healthcare infrastructure.
The U.S. FDA approved LASIK surgery in 1999. The North American Lasik and Eye Surgery Centre, (NALESE), is an organization that provides advanced technologies and support services in vision care.
China and India hold a significant market share in Asia Pacific. Regional market growth is expected to be boosted by rising awareness, increased economic stability, and market players addressing unmet clinical need pertaining to vision correction.
Alcon Laboratories, Inc., Abbott Medical Optics, Bausch & Lomb, Carl Zeiss, Inc., Nidek, Inc. are key players in the personalized LASIK market.
Market players are heavily involved in mergers, acquisitions and other activities to maintain competition. Bausch and Lomb bought Technolas Perfect Vision GmbH in January 2013. The collaboration led to the addition of femtosecond Lasers from Technolas Perfect Vision GmbH to Bausch and Lomb's product range.
This market will benefit from the introduction of new technologies like refractive lenticule extract (ReLEx), and small incision lenticule extraction (SMILE) using the VisuMax laser by Carl Zeiss.
Nidek and Abbott Molecular Optics introduced products that are both fast and easy to use. AMO's iDesign is a next-generation wavefront method that is said to deliver precise results with high resolution. The U.S. FDA approved the CATz program from Nidek in 2013 for use with the Nidek NAVEX Quest system to treat refractive errors due to myopia or astigmatism.
Up Market Research published a new report titled “Personalized LASIK Surgery Market research report which is segmented by Type (Wavefront Guided LASIK, Wavefront Optimized LASIK, Topography Guided LASIK), By Players/Companies Inc, Inc, Carl Zeiss, Inc, Bausch & Lomb, Abbott Medical Optics (AMO), Alcon Laboratories, Nidek”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Personalized LASIK Surgery Market Research Report |
By Type | Wavefront Guided LASIK, Wavefront Optimized LASIK, Topography Guided LASIK |
By Companies | Inc, Inc, Carl Zeiss, Inc, Bausch & Lomb, Abbott Medical Optics (AMO), Alcon Laboratories, Nidek |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 248 |
Number of Tables & Figures | 174 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type (Wavefront Guided LASIK, Wavefront Optimized LASIK, Topography Guided LASIK).
Personalized LASIK Surgery Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Personalized LASIK Surgery Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the Personalized LASIK Surgery Market Report:
Some other reports from this category!