Rising geriatric population along with the increasing number of patients suffering from myopia, hyperopia, astigmatism and other forms of visual acuity is majorly driving the market growth. Rising adoption of optical surgeries followed by increasing awareness of LASIK treatment among the patients is fueling the market growth. Also, advantages associated with LASIK treatment such as high success rate, rapid visual recovery, painless surgery, and rescue from wearing spectacles, contact lenses are further gaining high demand from juvenile and adult population. Moreover, rising adoption of cosmetic surgery is presumed to foster the market growth in upcoming timespan.
As per the latest report added by Value Market Research, the Global LASIK Treatment Market was valued USD 1,860.0 MN (by revenue) in 2017 and is anticipated to reach USD 3,890.2 MN by 2024 with a CAGR of 11.1%.
LASERS DOMINATED THE PRODUCT TYPE SEGMENT
By product type, lasers led the segment in the year 2017 and are likely to reach USD XX.X million by 2024. Advantages of lasers are more effective treatment, better safety & flexibility and low risk of corneal abrasion are majorly driving the market growth. Also, bladeless or laser LASIK imparts better predictively and uniform thickness to the corneal flap is further pushing the segment growth.
OPHTHALMOLOGY CLINICS DOMINATED THE END-USER SEGMENT
In 2017, Ophthalmology clinics led the segment and is forecasted to reach USD XX.X million by 2024. Rising cases of patients suffering from myopia, hyperopia, astigmatism and other forms of visual acuity are driving the segment growth.
NORTH AMERICA DOMINATED THE REGIONAL MARKET
Geographically, North America led the market owing to the rising prevalence of visual acuity coupled with rising awareness regarding LASIK among the people is driving the market growth. As per the analysis, North America is projected to reach USD XX.X million by 2024. Also, established healthcare infrastructure followed by the presence of prominent players within the region is further pushing the market growth uphill.
MAJOR PLAYERS OF THE MARKET
Abbott Medical Optics Inc. (AMO), Alcon Laboratories, Inc., Bausch & Lomb, Inc., Carl Zeiss, Inc. and Nidek, Inc. are the major players of the LASIK treatment market
As per this study the Global LASIK Treatment Market was valued USD 2.3 MN (by revenue) in 2021 and is anticipated to reach USD 4.34 MN by 2028 with a CAGR of 9.5%.
LASIK (laser-assisted in-situ keratomileusis) is a surgery of the eye that is performed by using a laser, in order to treat a disorder like near-sightedness, far-sightedness, and astigmatism. This refractive surgery procedure is performed to reshape the cornea and improve the focus of the light on the retina and it also reduces the need for glasses and contact lenses. LASIK surgery procedure is carried out by slowly peeling off the corneal tissue flap and surgically transforming the cornea as required to reduce far-sightedness or near-sightedness.
Market Dynamics
Growing geriatric population base is expected to positively impact the LASIK treatment market. Moreover, rise in demand for laser eye surgeries and rise in awareness about LASIK in populace drive the market growth. Furthermore, the surge in the incidence of myopia, hyperopia, and astigmatism boost the LASIK treatment market. Additionally, growing adoption rate of cosmetic surgeries across increasing young generation which in turn will definitely provide growth opportunity to the market. However, strict government regulations towards LASIK treatment, insufficient reimbursement policies, and high costs associated with the LASIK procedure are likely to act as restraint the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of LASIK treatment.
Market Segmentation
The broad LASIK treatment market has been sub-grouped into product type and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Product Type
- Lasers
- Surgical Blades
- Anesthetics
- Eye Holders And Suction Rings
By End-User
- Hospitals
- Ophthalmology Clinics
- Ambulatory Surgical Centers
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for LASIK treatment in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global LASIK Treatment Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the LASIK treatment market include Abbott Medical Optics Inc. (AMO), Alcon Laboratories, Inc., Bausch & Lomb, Inc., Carl Zeiss, Inc., and Nidek, Inc. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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