USD 2.23 Billion
Lasik Eye Surgery Devices Market Size, Share, Growth Analysis, By Product Type(Excimer Lasers, Femtosecond Lasers, Microkeratomes and Others), By Application(Hospitals, Ambulatory Surgical Centers, Ophthalmology Clinics and Others), By End User(Adults and Pediatrics), By Region(North America, Europe, Asia-Pacific, Latin America), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2259 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
64
|Figures:
75
Lasik Eye Surgery Devices Market Insights
Lasik Eye Surgery Devices Market size was valued at USD 2.57 Billion in 2023 and is poised to grow from USD 2.96 Billion in 2024 to USD 8.07 Billion by 2031, at a CAGR of 15.35% during the forecast period (2024-2031).
The Global Lasik Eye Surgery Devices Market is a thriving industry that has revolutionized the way we share and present information. Our report contains detailed information on the value chain analysis for the LASIK eye surgery devices market, which manufacturers can use to gain a competitive edge during the projected period. Understanding the value chain from beginning to end is critical for optimizing profit margins and evaluating company strategy.
During the projected period, the data accessible in our value chain analysis segment can assist suppliers in driving costs and improving customer service. In recent years, there has been an unexpected increase in the number of instances of ocular illnesses, which is encouraging people with visual problems to seek laser therapy, hence fueling the LASIK eye surgery equipment market trends. The increased demand for minimally invasive surgical procedures is driving the market CAGR for LASIK eye surgery.
The growing number of people suffering from these eye conditions, as well as increased care spending, an increased need for minimally invasive surgical treatments, an increasing number of eye care centers offering personalized LASIK technology, growing knowledge about the effectiveness and security of technological advances, and rising funding from government officials, are all contributing to the growth of the LASIK Eye surgery sector. Because of prolonged screen usage and bad diets, eye-related illnesses are more widespread in teens and millennials. Diabetes, glaucoma, age-related macular degeneration, trachoma, corneal opacity, and cataract are among the most common causes of visual impairments in the older population.
Aging is a key contributor to the increasing prevalence of ocular and ophthalmic disorders such as cataracts and refractive errors. Furthermore, an increase in screen usage has increased the prevalence of refractive vision problems, particularly among adults and children. As a consequence, because laser surgery can alleviate the symptoms of age-related macular degeneration and other eye illnesses, acceptability of the LASIK treatment will increase.
US Lasik Eye Surgery Devices Market is poised to grow at sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Excimer Laser Systems
Fastest Growth
Femtosecond Lasers
Growth Rate
15.35% CAGR
Global Lasik Eye Surgery Devices Market ($ Bn)
Country Share for North America Region (%)
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Lasik Eye Surgery Devices Market Segmental Analysis
Global Lasik Eye Surgery Devices Market is segmented by Product Type, Application, End User, and region. Based on Product Type, the market can be segmented into Excimer Lasers, Femtosecond Lasers, Microkeratomes and Others. Based on Application, the market can be segmented into Hospitals, Ambulatory Surgical Centers, Ophthalmology Clinics and Others. Based on End User, the market is segmented into Adults and Pediatrics. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Lasik Eye Surgery Devices Market Analysis By Product Type
The largest segment in the product type category of the Lasik eye surgery devices market is the Femtosecond Laser Systems. Excimer laser systems hold a significant share in the market due to their widespread adoption and established efficacy in corneal ablation. These systems utilize ultraviolet laser technology to precisely reshape the cornea and correct refractive errors. They offer advantages such as accurate treatment customization, fast procedure times, and minimal discomfort for patients. Moreover, these systems have been continuously improved with technological advancements, such as wavefront-guided treatments and sophisticated eye tracking systems, further enhancing their safety and effectiveness.
On the other hand, the fastest-growing segment in the product type category of the Lasik eye surgery devices market is the excimer Lasers. Femtosecond lasers have gained significant traction and are rapidly replacing traditional keratometers in corneal flap creation during Lasik surgery. These lasers use ultra-fast pulses of laser energy to create a precise corneal flap, ensuring a more predictable and accurate surgical procedure. The growing adoption of femtosecond lasers is primarily driven by the rising preference for bladeless Lasik procedures among surgeons and patients. Bladeless procedures eliminate the need for a mechanical blade, reducing the risk of complications such as irregular flap creation.
Lasik Eye Surgery Devices Market Analysis By End User
The largest segment in the end-user category of the Lasik eye surgery devices market is Ophthalmic Clinics. Ophthalmic clinics serve as key settings for conducting Lasik surgeries and offer specialized eye care services. These clinics are equipped with advanced diagnostic and surgical equipment, making them the primary choice for patients seeking vision correction procedures. Ophthalmic clinics provide a comprehensive range of services, including preoperative evaluations, surgical procedures, and postoperative care. Firstly, ophthalmic clinics often have a dedicated team of ophthalmologists and support staff who specialize in refractive surgeries, ensuring high-quality care and expertise. Secondly, these clinics are equipped with state-of-the-art Lasik eye surgery devices, including excimer laser systems and femtosecond lasers, allowing for precise and effective procedures.
On the other hand, the fastest-growing segment in the end-user category of the Lasik eye surgery devices market is Ambulatory Surgical Centers (ASCs). ASCs are outpatient facilities that provide same-day surgical procedures, including Lasik eye surgery. The key factors driving the rapid growth of ASCs in the Lasik eye surgery devices market are as follows. ASCs offer a favorable environment for performing Lasik procedures, combining the advantages of a surgical facility with the convenience of outpatient care. Patients can have their surgery performed in a specialized setting without the need for overnight hospital stays. This promotes a quicker recovery process and cost savings for both patients and healthcare providers.
Global Lasik Eye Surgery Devices Market By Product Type
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Lasik Eye Surgery Devices Market Regional Insights
The largest market region in the Lasik eye surgery devices market is North America. North America has emerged as a dominant player in the market due to several factors. Firstly, the region has well-established healthcare infrastructure, including advanced ophthalmic clinics, hospitals, and ambulatory surgical centers, which facilitate the widespread adoption of Lasik eye surgery procedures. Secondly, North America is at the forefront of technological advancements, with significant investments in research and development activities related to ophthalmic devices and procedures. This has led to the availability of advanced Lasik eye surgery devices, including excimer laser systems and femtosecond lasers, that ensure superior surgical outcomes.
On the other hand, the fastest-growing region in the Lasik eye surgery devices market is the Asia Pacific. The Asia Pacific region has been witnessing rapid growth in recent years, fueled by various factors. Firstly, the region has a large and growing population, including a significant proportion of individuals with refractive errors, which presents a substantial market opportunity. Increasing awareness about the benefits of Lasik eye surgeries, rising disposable incomes, and improving healthcare infrastructure are driving the demand for these procedures in the region. Moreover, the presence of emerging economies, such as China and India, with their expanding middle-class population, has led to an increase in the affordability of Lasik eye surgery procedures.
Global Lasik Eye Surgery Devices Market By Region
- Largest
- Fastest
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Lasik Eye Surgery Devices Market Dynamics
Lasik Eye Surgery Devices Market Drivers
Advantages of Vision Correction
- Lasik eye surgery provides numerous advantages over traditional methods of vision correction, such as eyeglasses or contact lenses. It offers a permanent solution to refractive errors, eliminating the need for constant dependence on external vision aids. Lasik can improve visual acuity, reduce dependency on glasses or contact lenses, and provide clearer vision, especially for individuals with high refractive errors. These benefits have led to increased acceptance and preference for Lasik surgery among individuals seeking long-term vision correction.
Lasik Eye Surgery Devices Market Restraints
High Cost
- One of the significant restraints in the Lasik eye surgery devices market is the high cost associated with the procedure. Lasik surgeries can be expensive, making them less accessible to individuals with limited financial resources or inadequate insurance coverage. The cost includes preoperative evaluations, surgical fees, postoperative care, and follow-up visits. Additionally, the price of Lasik eye surgery devices and equipment adds to the overall expense.
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Lasik Eye Surgery Devices Market Competitive Landscape
The Global Lasik Eye Surgery Devices Market features a highly competitive landscape with the presence of several key players. Some of the prominent players in the market focus on product innovation and technological advancements to gain a competitive edge. They invest significantly in research and development to introduce new features and functionalities in their Lasik Eye Surgery Devices solutions. Additionally, strategic partnerships, collaborations, and acquisitions are common strategies employed by these players to expand their market presence and enhance their product portfolios. With the growing demand for Lasik Eye Surgery Devices solutions, the competition among these players intensifies, leading to continuous advancements and improvements in the market offerings.
Lasik Eye Surgery Devices Market Top Player’s Company Profiles
- Alcon, Inc. (Switzerland)
- Johnson & Johnson Vision Care, Inc. (US)
- Bausch + Lomb (US)
- NIDEK CO., LTD. (Japan)
- SCHWIND eye-tech-solutions GmbH (Germany)
- Ziemer Ophthalmic Systems AG (Switzerland)
- Abbott Medical Optics (US)
- Technolas Perfect Vision GmbH (Germany)
- AMO Manufacturing USA, LLC (US)
- Topcon Corporation (Japan)
- Lumenis Ltd. (Israel)
- LensAR, Inc. (US)
- ZEPTO Precision Cataract Surgery (US)
- iVIS Technologies (Italy)
- Optovue, Inc. (US)
- Beyeonics Surgical Ltd. (UK)
- Ocular Instruments (US)
- Rayner Intraocular Lenses Limited (UK)
- Excel-Lens (Spain)
Lasik Eye Surgery Devices Market Recent Developments
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In March 2024, Contoura LASIK stands as the pinnacle of laser vision correction today. This advanced procedure, also known as T-CAT (Topography-guided Custom Ablation Treatment), represents the culmination of expertise from leading eye surgeons. By wielding the most powerful tools available, they've refined LASIK techniques to deliver unmatched results.
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In March 2024, Taking LASIK to a new level of precision, wavefront-guided technology creates a personalized map of your eye's imperfections. This detailed map guides the laser to correct these specific errors, including higher-order aberrations, resulting in sharper, more precise vision correction.
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In 2023, Taking LASIK to an even higher level, femtosecond lasers are revolutionizing the procedure. Studies show these lasers create corneal flaps with greater predictability, reducing the risk of complications like corneal abrasions during surgery and unwanted astigmatism afterwards.
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In January 2024, The FDA approved Teneo Excimer Laser Platform (Bausch + Lomb Corporation), a new laser assistance in situ keratomileusis (LASIK), for vision correction surgery for those who have myopia and myopic astigmatism, known as nearsightedness or nearsightedness
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In Mrach 2023, Johnson & Johnson Vision, a part of Johnson & Johnson MedTech, announced that it has received CE Mark approval for its next-generation laser vision correction solution, the ELITA Femtosecond Laser System. The new laser will allow surgeons to perform refractive correction on patients with myopia, with or without astigmatism, via the SILK Procedure, a new lenticular procedure (Smooth Incision Lenticule Keratomileusis).
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In June 2023, ZEISS, a global leader in optics and optoelectronic technology, is delighted to announce the launch of its cutting-edge medical devices, VISUMAX 800 and Quatera 700.
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In October 2022, A research investigation was launched by the Stanford University School of Medicine (United States) to compare the outcomes of wavefront-guided LASIK against topography-guided LASIK in shortsighted persons' randomized contralateral buddy eye examinations.
Lasik Eye Surgery Devices Key Market Trends
- Convenience and Lifestyle Factors: Wearing eyeglasses can be inconvenient for certain activities, such as sports, outdoor activities, or even daily tasks that require freedom of movement or engagement. Individuals who lead active lifestyles or participate in physical activities often prefer alternatives that allow them to have clear vision without the limitations of eyeglasses. These technologies of surgery offer the potential for permanent vision correction, reducing or eliminating the reliance on external aids like glasses.
Lasik Eye Surgery Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, The Lasik eye surgery device market is poised for substantial growth and holds immense future potential. The increasing prevalence of refractive errors and the rising demand for improved vision among individuals are driving the market's expansion. Technological advancements, such as wavefront-guided treatments, customized treatment plans, and the integration of AI and ML, are enhancing surgical outcomes and patient satisfaction. The largest segment in the market is ophthalmic clinics, owing to their specialized services, advanced equipment, and established patient base. Meanwhile, ambulatory surgical centers (ASCs) are the fastest-growing segment, benefiting from their cost-effectiveness, convenience, and ability to meet evolving healthcare demands. North America stands as the dominant player, owing to its well-developed infrastructure, technological advancements, favorable reimbursement policies, and high patient volume. Looking ahead, the Lasik eye surgery device market is expected to witness further growth driven by increasing adoption in emerging economies, technological innovations, expanding patient awareness, and the desire for a spectacle-less generation seeking improved quality of life and visual acuity.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.57 Billion |
| Market size value in 2031 | USD 8.07 Billion |
| Growth Rate | 15.35% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Lasik Eye Surgery Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Lasik Eye Surgery Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Lasik Eye Surgery Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Lasik Eye Surgery Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Lasik Eye Surgery Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Lasik Eye Surgery Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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