Global LASIK Eye Surgery Market Research and Forecast 2022-2028

Description

List of Tables

Global LASIK Eye Surgery Market Size, Share & Trends Analysis Report By Vision Error (Myopia, Hyperopia, and Astigmatism), By Type (Wavefront Optimized, Wavefront-Guided, and Topography Guided), End-User (Hospitals, Eye Care Clinic and Lasik Centers), and Forecast 2021-2027

Global LASIK eye surgery market is anticipated to grow at a CAGR of 7.3% during the forecast period. LASIK is Laser-assisted in situ keratomileusis is one of the most common eye surgeries that is used to correct vision errors including Hyperopia, Myopia, and Astigmatism. The factors attributing to the growth of the market include increasing prevenances of vision problems such as Myopia and others. For instance, according to World Health Organization in 2019, there were almost 2.2 billion people who had vision impairment, out of which 1 billion with vision impairment that could have been prevented or is yet to be addressed. Further, the development of highly successful treatments that reduce the dependency of the patient on contact lenses or glasses is also one of the major factors for the growing market. Additionally, increasing demand for minimally invasive surgical treatments is also expected to propel the growth of the market.

However, the unfavorable reimbursement policies and high prices of treatment further projected to hamper the growth of the market. Some of the common side effects such as dry eyes, under corrections, overcorrections, regressions, vision loss associated with the treatment may also hinder the market growth. Since many government institutes and organizations are supporting patients with vision issues is creating opportunities for the market. For instance, National Eye Institute performs and supports vision research and education programs that support protecting prolong vision.

Segmental Outlook

The global LASIK eye surgery market is segmented based on vision error, type, and end-user. Based on vision error, the market is segmented into myopia, hyperopia, and astigmatism. On the basis of type, the market is segregated into wavefront-optimized, wavefront-guided, and topography-guided. Further, based on end-users the market is classified into hospitals, and eye care clinic & LASIK centers.

Global LASIK Eye Surgery Market Share by Type, 2020 (%)

Global LASIK Eye Surgery Market Share by Type

The wavefront-guided segment is estimated to dominate the LASIK eye surgery market

Among, type, the wavefront-guided segment is projected to have the largest share in the global LASIK eye surgery market owing to various factors such as achieving 20/20 vision without glasses and a potential reduction in risk of losing best spectates corrected vision. Wavefront LASIK is known as custom LASIK. It is one of the new LASIK approaches where guided lasers are used that reshapes the cornea and improves visual acuity. By using a wavefront device, the surgeon can measure aberrations in a patient's cornea shape and texture and then customize the lasers that can treat all aspects of the cornea. One of the greatest advantages of wavefront LASIK is it provides high order aberrations. Whereas traditional LASIK typically exacerbates these aberrations which have no impact on clear visual acuity however can create problems with other vision needs such as at night when the pupil is dilated. Some more advantages of Wavefront LASIK are that it corrects other subtle distortions on the cornea, lower rate of side effects including dry eye, night vision problems and itching. Moreover, it gives more precise corrections of refractive errors and provides personalized LASIK targeted to the individual type of cornea.

Regional Outlooks

The global LASIK eye surgery market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to have a significant share in the global market attributed to factors such as developed healthcare infrastructure, and development of advanced technologies, major population presence with vision impairment and others. Other factors being the availability of minimal invasive advanced customized LASIK surgeries and people opting for high lifestyle pattern in the region further propel the market growth.

Global LASIK Eye Surgery Market Growth, by Region 2021-2027

Global LASIK Eye Surgery Market Share by region

Asia-Pacific is estimated to be the fastest-growing region in the global LASIK Eye Surgery Market

Geographically, Asia-Pacific is projected to have considerable growth in the global LASIK eye surgery market during the forecast period. The growth is attributed to the rising adoption of new treatment options and increasing demand for LASIK eye devices in countries such as China and India. Further factors such as rising awareness levels, many markets players are targeting the unmet clinical needs regarding the vision treatment and rise in economic stability also to propel the growth of the market.

Market Players Outlook

The key players of the LASIK eye surgery market include Abbott Laboratories, Johnson & Johnson Servies Inc., Carl Zeiss AG., Bausch Health Companies Inc., Novartis International AG(Alcon), Nidek Co. Ltd., and others. The market players are considerably contributing to the market growth by adopting various strategies including mergers, and acquisitions, collaborations, and product launch, to stay competitive in the market. For instance, in September 2018, Johnson and Johnson had announced the launch of its next generation of personalized LASIK treatment iDESIGN Refractive Studio that analyzes the entire eye inside. The platform indicated for Wavefront-guided Monovision LASIK in presbyopic myopic patients. This treatment will allow to take a precise measurement of the inside of the eye and deliver a personalized LASIK treatment to the individual patient. The treatment iDESIGN Refractive Studio also allows the surgeons to create an optical fingerprint that is unique to the patient eye and helps in measuring the entire visual pathway.

The Report Covers

Market value data analysis of 2020 and forecast to 2027.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global LASIK Eye Surgery.

Market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying 'who-stands-where' in the market.

Product Code: OMR2018369

1. Report Summary

1.1. Research Methods and Tools
Current Industry Analysis and Growth Potential Outlook
Impact of COVID-19 on the Global LASIK Eye Surgery Industry
Recovery Scenario of Global LASIK Eye Surgery Industry
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. By Geography

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Findings
- 2.2.2. Recommendations
- 2.2.3. Conclusion
2.3. Regulations

3. Competitive Landscape

3.1. Key Company Analysis
- 3.1.1. Overview
- 3.1.2. Financial Analysis
- 3.1.3. SWOT Analysis
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on key players

4. Market Determinants

4.1. Motivators
4.2. Restraints
4.3. Opportunities

5. Market Segmentation

5.1. Global LASIK Eye Surgery market By Vision Error
- 5.1.1. Myopia
- 5.1.2. Hyperopia
- 5.1.3. Astigmatism
5.2. Global LASIK Eye Surgery market by Type
- 5.2.1. Wavefront Optimized
- 5.2.2. Wavefront-Guided
- 5.2.3. Topography Guided
5.3. Global LASIK Eye Surgery market by End user
- 5.3.1. Hospitals
- 5.3.2. Eye Care Clinic and Lasik Centers

6. Regional Analysis

6.1. North America
- 6.1.1. United States
- 6.1.2. Canada
6.2. Europe
- 6.2.1. UK
- 6.2.2. Germany
- 6.2.3. Italy
- 6.2.4. Spain
- 6.2.5. France
- 6.2.6. Rest of Europe
6.3. Asia-Pacific
- 6.3.1. China
- 6.3.2. India
- 6.3.3. Japan
- 6.3.4. South Korea
- 6.3.5. Rest of Asia-Pacific
6.4. Rest of the World

7. Company Profiles

7.1. Abbott Laboratories
7.2. AbbVie Inc.
7.3. Auro Laboratories Ltd.
7.4. Bausch Health Companies Inc.
7.5. Biotech Healthcare Group
7.6. Carl Zeiss AG
7.7. Coopervision, Inc.
7.8. Essilor International S.A.
7.9. Hoya Corp.
7.10. Johnson & Johnson Services, Inc.
7.11. Luxottica Group S.P.A.
7.12. Nidek Co. Ltd.
7.13. Novartis International AG(Alcon)
7.14. Vision Group Holdings
7.15. The Omaha Eye & Laser Institute
7.16. Topcon Corp.
7.17. VISUfarma BV
7.18. Ziemer Ophthalmic Systems AG