LASIK
surgery is a highly effective method to correct vision and is
especially useful in treatment of various refractive disorders such
as myopia, hyperopia, and astigmatism. In the U.S. alone, over 34
million patients are suffering from myopia according to the American
Academy of Ophthalmology 2016 estimates. Moreover, around 150 million
people in the U.S. wear corrective eyeglasses. Custom LASIK surgery
market revenue is expected to witness upward trajectory growth, owing
to increase in demand for effective therapeutic treatment for
disorders related to the eyes.
The
global custom LASIK surgery market size was valued at US$ 1,537.6
million in 2016 and is expected to expand at a CAGR of 9.7% during
2016 – 2024.
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Multinational
players need to tap into potential addressable market in emerging
economies
Product
portfolio expansion and partnerships with local players are key
custom LASIK surgery market trends, which are expected to shape the
industry in the near future. Moreover, companies are focusing on
receiving regulatory approval for their products to differentiate
their product offerings. For instance, Abbott received FDA approval
for iDesign Advanced WaveScan Studio in 2015. Major players in the
global custom LASIK surgery market include Alcon Laboratories, Inc.,
Bausch & Lomb, Carl Zeiss, Inc., Abbott Medical Optics, Nidek,
Inc., and Technolas Perfect Vision GmbH.
Wavefront
guided has emerged as the highest revenue contributor among procedure
segments
Wavefront
guided procedure segment is expected to dominate the custom LASIK
surgery market procedure throughout the forecast period. The segment
has been estimated to account for 45.8% share of the global custom
LASIK surgery market revenue in 2016. This procedure involves
detailed wavefront generated measurements of light traversing through
the eyes. The procedure helps in offering personalized treatment to
patients based on the unique anatomy of the patient’s eye. It is
highly precise and more specific compared to conventional LASIK
surgery.
Rapid
increase in demand for custom LASIK surgery procedure in the emerging
economies to boost market growth
North
America, followed by Europe accounted for major share of global
custom LASIK surgery market revenue in 2016. These two regions are
together estimated to account for 65.1% of overall market revenue.
However, the market for LASIK surgery procedure in Asia Pacific is
projected to surpass that in in Europe by 2019. The primary factor
for market growth in Asia Pacific is increased installations of LASIK
systems in eye-care facilities in Japan. Japan is projected to
account for 51% share of the custom Asia Pacific LASIK surgery market
in 2017. Increasing patient awareness, high disposable income and
improvement in the healthcare infrastructure has resulted in rise in
number of LASIK surgeries and in turn, is resulting in growth of the
custom LASIK surgery market in the country.
Detailed
Segmentation:
Global
Custom LASIK Surgery Market, By Procedure:
-
Wavefront Guided
-
Wavefront Optimized
-
Topography
Global
Custom LASIK Surgery Market, By Therapeutic Applications:
-
Myopia
-
Hyperopia
-
Astigmatism
-
Others
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