LASIK, or “laser-assisted in situ keratomileusis,” is one of the most common forms of vision corrective surgeries carried out worldwide. It is used to treat eye conditions like myopia, hyperopia and astigmatism. Though other types of vision corrective surgeries exist, LASIK is one of the most popular surgeries for vision correction. In case of myopia or near sightedness the aim of the procedure is to flatten the cornea and in case of patients with hyperopia or far sightedness the cornea needs to be steeper.
A recently published report by Market Research Future on LASIK Eye Surgery Market Research Report- Global Forecast To 2022 predicted that the sector would grow at an unprecedented CAGR rate till 2022. The market for LASIK Eye surgery is constantly developing by virtue of the different needs of each patient and the certainty of each LASIK case being different than the next. The LASIK procedure as a whole is a very short duration procedure and if proper care is taken the results from the procedure are excellent; this is one of the main reasons this procedure has a high success rate. The procedure has a high rate of approval among the younger demographic as they are mostly afflicted with myopia and are eager for this procedure so as to avail the aesthetic benefits of it. The procedure has a relatively short recovery period which fits in well with the fast lifestyle pace of today’s patient.
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There are many factors that are responsible for the success of the LASIK procedure such as improvements in the procedure and precision of the equipment which carry out the surgery to such a level where high quality has been achieved, more qualified practitioners for the procedures, high level of convenience to individuals who require clear vision like firefighters, athletes & pilots and reduced dependence on contact lenses or spectacles. The factors that may hamper growth of this sector are recession in economy, chances for complication and lack of awareness which may restrict growth of this market.
Latest Industry News:
October 2017 Johnson & Johnson Device got a boost of about $291 million this year through the acquisition of Abbott Medical Optics who specialize in products for LASIK and eye cataract surgery.
LASIK Eye Surgery Market – Competitive Analysis
With the entry of industry players in the LASIK eye surgery market, a trend of solid, volume-driven growth has been observed in the market with the introduction of various procedure types for different patients. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
Some of the key players in this market are AMO Manufacturing USA LLC, Nidek, Inc., Abbott Inc., Alcon Laboratories, Inc., The other prominent market players are Carl Zeiss, Inc., Bausch & Lomb Surgical, Inc., Lasersight Technologies, Inc. and others.
LASIK Eye Surgery Market – Segments
LASIK eye surgery market has been segmented on the following basis:
On Basis Of Types: Wavefront Optimized, Wavefront-Guided, Topography Guided and All Laser.
On The Basis Of Vision Error: Myopia, Hyperopia, Astigmatism and Others.
On The Basis Of End User: Hospital, Eye Care Clinic, LASIK Center and Others.
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LASIK Eye Surgery Market – Regional Analysis
Globally North America is the largest market for LASIK eye surgery. Europe is the second-largest market. Furthermore Asia pacific market is expected to be the fastest growing market for LASIK eye surgery.
North America dominates the Global Market for LASIK Surgery holding the largest market share anticipated to even grow further by the end of forecast period.
Globally, Asia-Pacific has emerged as the fastest growing region and expected to grow at a significant rate of CAGR during the forecast period.
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