LASIK Eye Surgery Market Size, Outlook, Analysis Report, Regional Outlook With Forecast 2027
Market Research Future (MRFR) reveals that the LASIK
eye surgery market would procure a CAGR of 6.5% During Forecast Period.
Cataract, according to the World Health Organization (WHO),
is a visual acuity of 3/60 within the better eye, and is identified as one of
the top causes of blindness across the globe. Cataract affects roughly 19
million people, with 90% of them across low to middle income nations. WHO also
reveals that LASIK eye surgeries account for over 800,000 procedures carried
out every year, making it one of the commonly performed refractive surgeries.
Emergence of novel and advanced surgical techniques, surging burden of eye
disorders and technical innovations including surgical microscopes are some of
the major reasons for the rapid growth of the LASIK eye surgery market.
Robots along with artificial intelligence is touted to be
integral aspect of the oncoming revolution in the ophthalmic industry. With
enormous potential, robots help foster the precision and accuracy level of
surgical techniques , eye
surgery instruments and treatment, resulting in unprecedented efficacy and
safety levels compared to conventional type of surgeries. Therefore, the
growing use of robots and the rapid adoption of other modern technologies like
AI and machine learning will be the top trends in the LASIK eye surgery
industry in the following years.
Strong government support as well as the surge in exhaustive
research and development activities act in favor of the global market as well.
More and more firms are focusing on research and development to launch better
surgical tools with multiple functions and applications. Business expansion is
another focus area for many of the brands active in the global market. For
instance, in June 2021, Clear Vision Institute, an established eye care center
in Utah (US) will now make available an upgraded line of LASIK surgery services
to those affected by farsightedness, astigmatism, and sightedness.
Market Segmentation
LASIK Eye Surgery industry has been considered for types,
vision error and end user.
The different types of LASIK eye surgeries are topography
guided, wavefront-guided, wavefront optimized, all laser and more.
Depending on vision error, the key segments are astigmatism,
hyperopia, myopia, and others. Types of myopia are degenerative, induced or
acquired, simple, nocturnal, pseudomyopia, and others. Hyperopia types are
pathologic hyperopia, physiologic hyperopia, and others. Furthermore,
astigmatism types are mixed astigmatism, hyperopic astigmatism, myopic
astigmatism, and others.
The top end users are LASIK centers, eye care clinic,
hospitals, and others.
Regional Analysis
The LASIK eye surgery industry has been geographically
segmented with respect to APAC/Asia Pacific, MEA/Middle East & Africa, the
Americas, and Europe.
The American market has procured the leading spot in the
LASIK eye surgery industry, thanks to the well-developed medical facilities and
the consistently expanding patient base affected by vision issues. Large-scale
healthcare expenditure combined with the high government support in terms of
research & development also adds to the market worth. Major concentration
of world—renowned firms in the region also has a huge hand in the market
growth.
In the second place is the European market, given the
escalating number of LASIK eye surgeries in the region. With the government
constantly encouraging extensive research & development activities and the
considerable budget allocated for the same benefits the regional market. the
top performers in the region are France and Germany, considering that these
countries spend sizeably on inducing improvements in the healthcare
infrastructure and on adoption of the latest technologies. The high preference
for minimally invasive procedures with respect to vision correction in the
region also adds to the market value.
The APAC market for LASIK eye surgery will attain the
fastest CAGR in the next few years, on account of the incredible developments
in the existing healthcare infrastructure. The massive patient base in the
region affected by a variety of vision problems and the rising spending on the
healthcare industry further elevates the market position in Asia Pacific.
Growing urgency for new and better treatment techniques in developing nations
like China and India also ensures rapid gains. Modernization of the
manufacturing techniques, surge in research & development activities within
the healthcare industry and the fast-burgeoning geriatric patient populace will
create lucrative opportunities for the manufacturers in the years ahead.
Leading Companies
The well-known manufacturers in the LASIK eye surgery market
are Carl Zeiss, Inc. (Germany), Bausch & Lomb Incorporated (U.S.), Abbott
Inc. (U.S.), Nidek Inc. (Japan), LaserSight Technologies, Inc (U.S.), AMO
Manufacturing USA, LLC (U.S.), Alcon Laboratories Inc. (U.S.), to name a few.
Several manufacturers are striving to adopt the latest
manufacturing technologies while also focusing on commercialization of their
tools and services to capitalize on the emerging trends in the market.
Prominent vendors are acquiring other companies to consolidate their rankings
in the global market.
About Market Research Future:
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