LASIK Eye Surgery Market Size, Share, Growth, and Industry Analysis, By Type (Wavefront Optimized, Wavefront-Guided, Topography Guided & All Laser), By Application (Hospitals, Eye Care Clinics & LASIK Centers) and Regional Forecast to 2032

Updated On: 02 September 2024

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LASIK EYE SURGERY MARKET REPORT OVERVIEW

The global LASIK Eye Surgery Market size expanded rapidly in 2024 and the market is projected to grow substantially by 2032, exhibiting a prodigious CAGR during the forecast period.

The LASIK Eye Surgery Market has achieved impressive growth because of new products and enhanced education concerning the corrections of the human vision. LASIK is a famous refractive surgery done to change the shape of the cornea to treat nearsightedness, farsightedness, and astigmatism. The procedure is fast and has few postoperative restrictions, and the elimination of the need for glasses or contact lenses helps explain why it is in high demand. With the advancement in technology, the market for plastic surgery has been opening up and improving with better precision of lasers and availability of treatment based on each patient’s body type.

COVID-19 Impact: Market Growth Restrained during Pandemic due to COVID-19's impact on elective surgeries

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The LASIK Eye Surgery Market has also been affected by the pandemic, as there was a huge decrease in operations in LASIK Eye Surgery centers during the onset of the COVID pandemic. Mass quarantines, physical distancing, and the burden on the healthcare system led to the delay or cancellation of many of the elective procedures, including LASIK. Also, the potential to contract an infection and the distraction of resources to address growing coronavirus cases also kept market progress limited. It also contributed to lower patient confidence and early postponement of elective eye care treatments due to the unpredictable pandemic.

LATEST TRENDS

"Innovative laser technologies drive LASIK eye surgery market growth significantly"

The trends that are currently apparent with the LASIK Eye Surgery Market, such as innovation in the laser and the treatment, individualization of the surgeries, and increased population knowledge about the procedure. With respect to the LASIK advances, noticeable shifts are the usage of all-laser systems instead of mechanical instruments, where the lasers utilized femtoseconds for flap manufacture, resulting in higher sterility and improved medical qualities. This approach enhances the general safety of the patients and the results yielded from the health services and is gradually gaining popularity. Also, smart features like wavefront and topography-guided systems are enhancing the accuracy and success rate of a LASIK treatment.

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LASIK EYE SURGERY MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Wavefront Optimized, Wavefront-Guided, Topography Guided & All Laser

Wavefront Optimized: Wavefront Optimized LASIK works on addressing only low-order aberrations by providing customized laser ablation with respect to the shape of the patient’s eye. This approach can therefore be said to improve the general quality of vision and at the same time minimize glare and halos, especially after surgery. This is especially important for patients with minimal to moderate eye disorders.

Wavefront-Guided: Wavefront-Guided LASIK employs maps of wavefronts to adjust such aberrations by focusing on fine irregularities of the eye in a much more specific way should it be required for the patient. Thus, this technique can enhance the vision and differences in contrast to a level higher than what is done with standard LASIK procedures. These are recommended for patients with special and complicated vision problems.

Topography Guided: The Topography Guided LASIK follows the client’s eye’s surface irregularity map referred to as corneal topography to design a treatment plan. This method works well in the correction of astigmatism and other distortions within the cornea that the traditional LASIK cannot handle fully. It is of greatest advantage in the case of patients with abnormal corneal or past history of corneal surgery.

All Laser: All Laser LASIK, or femtosecond LASIK, eliminates the use of microkeratomes by applying laser technology in the creation of the corneal flap, which is safer and more accurate as compared to the mechanical microkeratome. It also helps in minimizing flap complications and, at the same time, improves the degree of accuracy of the treatment. It is favored for the reasons of lesser invasiveness and enhanced comfort of the patient involved.

By Application

Based on application the global market can be categorized into Hospitals, Eye Care Clinics & LASIK Centers.

Hospitals: Lasik eye surgery is typically available at hospitals because these facilities also engage in other related health services requiring intricate equipment. This comes in handy because they also serve a large and, at times, a chronic and comorbid patient clientele. The elements of the environment provide opportunities for team postoperative care in an environment where multiple related disciplines can be managed in a comprehensive, coordinated manner.

Eye Care Clinics: Companies such as Eye Care Clinics deal in eye treatments and usually offer LASIK surgery as a commodity out of a list of eye surgeries. It deals with a hospital private patient care system of specialized optometrists and ophthalmologists. These clinics tend to provide better service in LASIK and tend to focus on the provision of information to the clients and follow-up care.

LASIK Centers: These are defined based on the geographical area, name and specialty of the clinic or center, type of clinic or center, and the type of procedure to be conducted in the clinic or center that they are studying. Specialists, Instruments, and LASIK Centers are very specific types of facilities where they are commissioned to do solely LASIK surgeries and similar operations. They are technologically advanced and employ qualified ORA staff who have exclusive proficiency in the refractive surgeries. The business model of these centers is to offer fully expert services, focusing on efficiency and the welcome visual results.

DRIVING FACTORS

"Advanced laser technologies and diagnostics drive market growth"

Technological advancement in LASER technology and diagnostics are the major forces steering the LASIK Eye Surgery Market forward. Innovations, refinement of methods, and laser vision correction techniques like femtosecond lasers and wavefront-guided systems improve the accuracy, safety, and experience of the patient, which motivates the potential LASIK aspirants. Such changes create better adoption and consequently contribute to the market growth.

"Patient education and promotion activities drive market growth"

Promising information about LASIK surgical operations along with elevating patient education are driving megatrends influencing the development of this market. The emergence and enhancement of people’s knowledge regarding the benefits and the safety of making use of LASIK in fixing issues with eyesight play a crucial role in the growth of the market. Marketing and promotion activities are also another category of strategies that help to increase awareness of the target population.

RESTRAINING FACTORS

"High LASIK costs and limited insurance hinder market growth"

High costs of the LASIK eye surgery are one of the main constraints observed for the LASIK Eye Surgery Market Growth. However, this has the disadvantage of being costly at the initial stages of implementation; hence, its adoption and usage among potential patients are restrained. Moreover, insufficient insurance coverage for the surgeries worsens the situation, especially for the surgical interventions that are considered elective.

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LASIK EYE SURGERY MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America leads market growth due to advanced healthcare facilities"

Geographically, North America holds the largest LASIK Eye Surgery Market Share, as it has well-established healthcare facilities along with high-tech awareness and LASIK centers. The maturity of the medical sector and the high expenditure on research in the region germinate novelty and procedures. Further, the majority of the patients are aware of the LASIK services, and most of the population has a disposable income to pay for these services.

KEY INDUSTRY PLAYERS

"Stakeholders drive market growth through innovation and advanced technologies"

Key stakeholders in the LASIK Eye Surgery Market are also continually contributing towards new innovations and technologies, hence affecting the market’s growth. It remains clear that leading firms operate with modern laser systems, sophisticated diagnosis, and new methods of surgery, increasing safety and effectiveness. Their associations, advertising, and increased emphasis on research add on to market development and enhance patient welfare and, thus, general market growth.

List of Market Players Profiled

• Bausch Health (U.S)
• Carl Zeiss (Germany)
• Johnson & Johnson (Abbott Medical Optics) (U.S)
• Novartis (Alcon Laboratories) (Switzerland)
• AMO Manufacturing (U.S)

INDUSTRIAL DEVELOPMENT

July 15, 2024: Alcon Inc. unveiled their new Wavelight EX500 LASIK system July 15, 2024. The Wavelight EX500 features advanced wavefront-guided technology and a high-speed laser that enhances precision and visual outcomes. This system aims to improve the accuracy of refractive surgeries and offer patients quicker recovery times and better overall results.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.