Personalized LASIK Surgery Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024

 

Transparency Market Research presents this most up-to-date research on “Personalized LASIK Surgery Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024

 

Laser-assisted in situ keratomileusis, commonly referred to as LASIK, is a laser eye surgery or laser vision-correction. It is a type of refractive surgery performed by an ophthalmologist for the correction of mainly three disorders: short-sightedness (myopia), far-sightedness (hyperopia), and astigmatism. Personalized LASIK, also known as custom LASIK, is a precise and more specific procedure that facilitates a surgeon to focus on quality as well as quantity of vision. Unlike the conventional LASIK procedure, custom LASIK involves utilization of advanced wavefront technology, wherein the unique characteristics of an eye can be evaluated.

 

In customized LASIK procedure, the refractive errors are evaluated by the difference of 0.01D instead of 0.25D in routine eyeglass prescription, making it 25 times more precise. The measurements are collected from hundreds of individual reference points on the front surface of an eye, facilitating detailed mapping of “high-order aberrations”, which accordingly programs the laser to provide flawless vision correction.

The number of laser vision correction surgeries, a category including LASIK and the PRK procedure, has dropped more than 50% from 2007 to 2016. The reasons vary case to case, right from post-surgical complications to economic barriers. In the U.S., the average cost of LASIK is between US$ 1500 and US$ 3000 per eye, depending on the type of procedure, parts of the country, and surgeon.

 

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Globally, the LASIK market can be segmented as follows:

 

By type of technology used: Wavefront guided LASIK surgery, wavefront optimized LASIK surgery, topography guided LASIK surgery, and bladeless LASIK surgery

The topography guided LASIK system is anticipated to witness significant growth in the next few years. Less side effects associated, painless procedure, speed, and regulatory approval of key instruments are the factors driving the segment.

By end-user: Ophthalmology clinics, hospitals, and ambulatory surgical centers

By geography: North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Increasing economic standards, rise in awareness levels, and market players targeting unmet clinical needs pertaining to vision correction are expected to boost market growth in India and China.

Abbott’s iDesign Advanced WaveScan Studio produces high resolution scan of an eye surface, taking more than 1200 micro readings in three seconds. The technology is USFDA-approved and provides a clearer blueprint of an eye. The WaveScan CustomVue System is also trending in the market. It is a diagnostic device that detects the wavefront aberrations on eye surface using Hartmann-Shack wavefront sensor. The major FDA-approved wavefront guided systems include WaveScan System CustomVue LASIK (Abbott Medical Optics), iDesign Advanced CustomVue LASIK System (Abbott Medical Optics), and Technolas 217z Zyoptix System for Personalized Vision Correction (Bausch + Lomb).

 

PRK (photorefractive keratectomy) uses an excimer laser in the same way as LASIK surgery, and patients’ vision correction results are similar. PRK recovery takes a little longer than LASIK process. However, PRK is more commonly performed and offers many advantages over LASIK for some patients.

 

Geographically, customized LASIK surgery is gaining preference in North America and holds the largest share in the market. Rising demand for custom LASIK surgery makes Europe one of the largest markets. Topography guided LASIK surgery is identified as the fastest growing segment globally. The LASIK surgery market in Asia Pacific is expected to witness strong growth due to factors such as increasing awareness level and rising income capacities.

 

Major players in the LASIK surgery market are Alcon Laboratories, Inc., Abbott Medical Optics, Inc., Carl Zeiss, Inc., Bausch + Lomb, and Nidek, Inc. Abbott Medical Optics holds the largest market share. Key players in the global personalized LASIK surgery market are following business strategies such as partnerships, mergers & acquisitions, associations, joint ventures, collaborations, and strategic alliances to establish market position, increase market share, drive profit margins, gain competitive advantage over business rivals, increase market penetration, and expand their business globally.

 

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

 

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The study is a source of reliable data on:

 

  • Market segments and sub-segments

  • Market trends and dynamics

  • Supply and demand

  • Market size

  • Current trends/opportunities/challenges

  • Competitive landscape

  • Technological breakthroughs

  • Value chain and stakeholder analysis

 

 

 

 

 

 

The regional analysis covers:

 

  • North America (U.S. and Canada)

  • Latin America (Mexico, Brazil, Peru, Chile, and others)

  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)

  • Eastern Europe (Poland and Russia)

  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)

  • Middle East and Africa (GCC, Southern Africa, and North Africa)

 

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

 

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

 

Highlights of the report:

 

  • A complete backdrop analysis, which includes an assessment of the parent market

  • Important changes in market dynamics

  • Market segmentation up to the second or third level

  • Historical, current, and projected size of the market from the standpoint of both value and volume

  • Reporting and evaluation of recent industry developments

  • Market shares and strategies of key players

  • Emerging niche segments and regional markets

  • An objective assessment of the trajectory of the market

  • Recommendations to companies for strengthening their foothold in the market

 

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