The 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.
In addition, other factors that predominantly drive the market growth include growing population and urbanization that has introduced many devices like mobile phone and unhealthy lifestyle. Which resultantly has increased prevalence of myopia, hyperopia astigmatism and several other vision problems. To rectify these issues people are increasingly resolving to LASIK Surgery for its advantages.
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Moreover, some LASIK companies work with insurance providers and certain large employers to provide LASIK discounts to their employees and CareCredit (a healthcare credit card) that covers all medical expenses, including LASIK eye surgery. These easy payment plans offered by LASIK companies fosters the market growth making LASIK as the most preferred surgery.
However, this revolutionary technique has a minor downside that is, its technical complexity. Which sometimes presents challenges to the doctors performing this surgery, while creating the flap. This can result in to damaging the vision permanently. But the good news is LASIK can rarely cause loss of “best” vision.
Global LASIK Eye Surgery Market – Segmental Analysis
The global LASIK eye surgery market has been segmented on the basis of vision error, type, end-user, and region.
By mode of type, the global LASIK eye surgery market has been segmented into all laser, wavefront-guided, wavefront optimized, and topography-guided. Among these, the Wavefront-guided LASIK is an advanced technology and uses optical aberrations of the eye to correct vision and measure and treat high-order aberrations. It also uses a sophisticated computer-controlled laser which provides better result when compared to the standard laser.
By mode of vision error, the global LASIK eye surgery market has been segmented into hyperopia, myopia, astigmatism, and others. Myopia is further sub-segmented into simple, nocturnal, induced or acquired, degenerative, pseudomyopia, and others. Astigmatism is also sub-segmented into mixed astigmatism, myopic astigmatism, hyperopic astigmatism, and others.
By mode of end-users, the global LASIK eye surgery market has been segmented into eye care clinic, hospitals, LASIK centers, and others. Hospitals are offering minimally invasive (MI) procedures such as LASIK surgery that is highly profitable for the hospitals. They also have access to technologically advanced equipment and specialized surgeons. Factors such as the availability of specialized LASIK treatment packages, the entry of several private hospitals, and the increasing incidence of refractive disorders are presumed to contribute to the growth of the market.
Key Players for Global LASIK Eye Surgery Market
The market of LASIK Eye Surgery appears to be fiercely competitive & fragmented owing to the presence of numerous matured & small key players accounting for a substantial market share. These market players try to gain competitive advantage through strategic partnership, acquisition, expansion, collaboration, product & technology launch. They invest heavily in the R&D to develop a technology that is completely on a different level compared to their competition.
Nidek, Inc., AMO Manufacturing USA LLC, Abbott Inc., Carl Zeiss, Inc., Alcon Laboratories, Inc., Lasersight Technologies. Inc. and Bausch & Lomb Surgical, Inc. are some of the leaders driving the Global LASIK Eye Surgery Market. Profiling those in its analysis MRFR finds out their strategies placing them at the forefront of completion.
Latest Industry Trends and News:
Prominent eye health specialist Bausch + Lomb reportedly presented over 20 new scientific data presentations at the recently held American Society of Cataract and Refractive Surgery (ASCRS) Annual Meeting. During event the company also provided a number of surgeons an exclusive access to latest Bausch + Lomb eye care technologies.
Johnoson & Johnson Vision has recently unveiled a world-first contact lens “ACUVUE OASYS®” integrated with Transitions® Light Intelligent Technology. Along with vision correction, the lens also provides a dynamic photochromic filter that aids in balancing the intensity of light entering the eye.
February 27, 2018 – The LASIK Vision Institute (US), a leading provider of LASIK surgery, announced opening of a new center in Duluth, Georgia. The new facility will be featuring topography-guided LASIK technology, the latest in FDA-approved technology for this procedure.
February 14, 2018 – The Omaha Eye & Laser Institute (US) a Pioneer in LASIK & other Laser surgeries & of Eye Care announced that now the institute is also specialized in iLASIK (Customized Bladeless) – considered as one of the most advanced forms of fully-customized , Lasik Laser Vision Correction
February 20, 2018 – Lehigh Valley Center (US) one of the leading eye care centre & LASIK Specialists announced the availability of IntraLase/Bladeless LASIK Eye Surgery.
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Regional Analysis for Global LASIK Eye Surgery Market
North America market dominates the global LASIK eye surgery market with the significant market share. The market is further expected to reach astronomical amounts growing at a substantial CAGR throughout the forecast period (2016-2022).
Europe & Asia Pacific is the second & third largest market respectively in the global LASIK eye surgery market. Expected to be a fastest growing market Asia pacific region is estimated to grow rapidly over the projected period.
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