LASIK Eye Surgery Devices Market: Introduction
LASIK, which stands for laser in-situ keratomileusis, is a popular surgery that can correct vision in people who have myopia, hyperopia, and astigmatism
It is one of the vision correction surgeries that work by reshaping cornea, the clear front part of your eye, so that light focuses on the retina in the back of eye
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Key Drivers of Global LASIK Eye Surgery Devices Market
- Increase in incidence of vision problems such as myopia, hyperopia, and astigmatism are projected to boost the growth of the global LASIK eye surgery devices market. According to the World Health Organization (in 2019), globally, around 2.2 billion people have a vision impairment or blindness, out of which 1 billion have a vision impairment that could have been prevented or has yet to be addressed. According to the International Myopia Institute, currently, 30% of the world’s population is suffering from myopia and around 50% will be myopic by 2050.
- Additionally, it is a highly successful procedure and helps to reduce a patient’s dependence on glasses or contact lenses. These factors are anticipated to drive the global LASIK eye surgery devices market.
- LASIK eye surgery is a minimally invasive. Increase in preference for minimally invasive surgical procedures is expected to boost the growth of the market. Furthermore, surge in new diagnostic tools, new device launch by major manufacturers, and technological advancements are expected to fuel the growth of the global LASIK eye surgery devices market.
Femtosecond Laser Segment to Witness Significant Growth
- In terms of product type, the global LASIK eye surgery devices market can be bifurcated into femtosecond laser and excimer laser
- The femtosecond laser segment accounted for the largest share of the global LASIK eye surgery devices market in 2019. Increase in use of femtosecond laser in LASIK eye surgery and high accuracy of the laser compared to excimer laser are likely to drive the segment.
Ambulatory Surgical Centers to be Most Promising Segment
Based on end-user, the global LASIK eye surgery devices market can be classified into LASIK eye centers, hospitals, ambulatory surgical centers, and others
Ambulatory surgical centers was the largest market segment in terms of revenue in 2019 and the trend is projected to continue during the forecast period. Ambulatory surgical centers provide benefits such as shorter hospital stay and lower risk of acquiring hospital-acquired infections (HAIs). Such factors are helps to increase the growth of this segment.
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North America to Dominate Global LASIK Eye Surgery Devices Market
- In terms of region, the global LASIK eye surgery devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global LASIK eye surgery devices market in 2019 and the trend is anticipated to continue during the forecast period. The region’s dominance can be attributed to increase in people with vision impairment, presence of major players, and well-established health care system.
- The LASIK eye surgery devices market in Asia Pacific is expected to grow at a rapid pace during the forecast period owing to increase in adoption of new products and rise in demand for LASIK eye surgery devices in emerging countries such as India and China
Key Players Operating in Global LASIK Eye Surgery Devices Market
The global LASIK eye surgery devices market was highly fragmented in 2019. Key players operating in the global market are:
- Alcon (Novartis AG)
- Bausch & Lomb Pvt. Ltd.
- ZEISS International
- Johnson & Johnson
- NIDEK CO., LTD
- SCHWIND eye-tech-solutions
- Ziemer Ophthalmic Systems
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