USD 1.66 Billion
Personalized LASIK Surgery Market Size, Share, Growth Analysis, By Surgery type(Wavefront-guided LASIK, Wavefront-optimized LASIK, Bladeless LASIK, Presby LASIK), By Indication(Myopia, Hyperopia, Presbyopia, Astigmatism), By End-User(Hospitals, Clinics, Ambulatory Surgical Centers, Other end Users), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35D2056 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|Tables:
94
|Figures:
75
Personalized LASIK Surgery Market Insights
Global Personalized LASIK Surgery Market size was valued at USD 1.66 Billion in 2019 and is poised to grow from USD 1.71 Billion in 2023 to USD 2.18 Billion by 2031, at a CAGR of 3.10 % during the forecast period (2024-2031).
Personalized or personalised LASIK surgery is a safer variant of the regular LASIK operation that uses the most advanced laser vision technology to take 3-dimensional measurements of the individual's eye and improves the ophthalmologist's ability to reshape the cornea. Personalized LASIK surgery recognises the distinctive features of each individual's eyes and provides more accurate vision repair. This allows for more accurate, personalised eyesight correction results. According to the American Academy of Ophthalmology, approximately 34% of the U.S. population wears glasses or lenses owing to vision problems. An estimated 25% of people worldwide choose laser eye sight correction surgery.
Rising popularity of corrective eye surgery is likely to fuel market expansion. Some of the factors expected to fuel market expansion over the forecast period include the introduction of technologically sophisticated equipment, an increase in the number of eye care clinics offering customised LASIK operations, and increased knowledge about efficacy and safety. Many companies and government agencies are now offering assistance to people with visual impairments, which is expected to enhance market demand. For example, the National Eye Institute supports research and new product development procedures in the field of eye care. Other comparable programmes include the BlueCross Blue Shield QualSight programme, which provides reductions on LASIK surgery costs to Federal Employees.
US Personalized LASIK Surgery Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals & clinics
Fastest Growth
Ambulatory surgical centers
Growth Rate
3.10% CAGR
Global Personalized LASIK Surgery Market, 2021-2028 ($ Mn)
Country Share for North AmericaRegion- 2021 (%)
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Personalized LASIK Surgery Market Segmental Analysis
Global Personalized LASIK Surgery Market is segmented based on the surgery type, indication, end-user, and region. Based on surgery type, the market is segmented into Wavefront-guided LASIK, Wavefront-optimized LASIK, Bladeless LASIK, Presby LASIK and Topography-guided LASIK. Based on indication, the market is segmented into myopia, hyperopia, presbyopia and astigmatism. Based on end-user, the market is categorized into hospitals and clinics, ambulatory surgical centers, and other end users. Based on region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA).
Personalized LASIK Surgery Market Analysis by Surgery Type
The wavefront-based methods entail measuring the patient's cornea based on how light passes through the eyes and strikes the retina. The laser therapy provided by this process is totally customised to the patient's eye structure. Topography-based techniques, on the other hand, measure the eye surface based on the anatomy of the patient's eyes.
In 2021, the wavefront-guided LASIK surgery category accounted for larger share of the market. This is the most sophisticated bespoke LASIK method. It generates a three-dimensional picture of your eye, precisely measuring how light enters the cornea and travels to the retina. In addition to myopia, hyperopia, and astigmatism, it accurately seeks to correct any higher-order abnormalities. It also reduces induced distortions caused by the LASIK surgery itself. Kraff Eye Institute employs iDesign 2.0, the most advanced wavefront-guided technology. Current wavefront-guided systems include Abbott Medical Optics' iDesign Advanced CustomVue LASIK System, WaveScan System, and CustomVue, and Bausch &Lomb's Technolas 217z Zyoptix System.
This wavefront-optimized LASIK approach measures the cornea and accounts for spherical aberration with a correction factor. While spherical aberration is the most prevalent higher-order aberration, it is not the only one. Unfortunately, wavefront-optimized LASIK cannot cure flaws other than spherical aberration. It does, however, have the ability to reduce any abnormalities caused by the LASIK treatment itself.
Over the projected period, the topography-guided LASIK system is expected to increase at a rapid pace. This approach maps the cornea in order to detect any irregularities. Scars, for example, can cause corneal abnormalities. Traditional LASIK would average out these flaws, but topography-guided LASIK seeks to address these variances. While it is comparable to regular LASIK, it is not a wavefront procedure since it does not correct for higher-order abnormalities. Factors contributing to the aforementioned rise include painless operation combined with speed, regulatory approval of important tools, and less related adverse effects.
Personalized LASIK Surgery Market Analysis by Indication
Presbyopia is predicted to lead the market at a notable CAGR over the forecast period. Presbyopia is the permanent and progressive loss of the capacity of the eyes to concentrate on objects. It occurs spontaneously as a result of ageing. Presbyopia is more common in civilizations where a greater proportion of the population lives to old age. An increasing number of patients with presbyopia may be required to visit optometrist clinics in the coming years. People above the age of 40 have the highest prevalence of presbyopia, with the ageing of the U.S. population.
Myopia affects roughly 30% of the US population, according to the American Optometric Association's 2021 study. While the precise origin of myopia is unknown, there is substantial evidence that many people inherit myopia, or at least the proclivity to acquire myopia. If one or both parents are near-sighted, their offspring are more likely to be near-sighted as well.
Global Personalized LASIK Surgery Market By End-User, 2021 (%)
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Personalized LASIK Surgery Market Regional Insights
North America's low cost of living makes it a prominent market for personalized LASIK surgery. North America, followed by Europe, is dominating the personalised LASIK surgery market due to their high lifestyle patterns and awareness, as well as the availability of all forms of minimally invasive advanced customised LASIK operations. The presence of important market players in the region, rising awareness levels, and well-established healthcare infrastructure are some of the factors influencing the region's market position. According to National Library of Medicine data updated in November 2021 for LASIK, there are numerous lasers authorised by the US Food and Drug Administration (FDA) for use in LASIK operations. According to the aforementioned source, bespoke LASIK is frequently used.
The Asia Pacific personalized LASIK surgery market is predicted to develop rapidly owing to rising per capita income in Asian nations and increased process awareness. With increasing public access to healthcare professionals and a rising economy, China is predicted to be the fastest growing market for personalized LASIK procedure. Increased awareness, rising economic stability, and market participants addressing unmet clinical requirements in vision correction are projected to drive regional market expansion.
Global Personalized LASIK Surgery Market By Region, 2021-2028
- Largest
- Fastest
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Personalized LASIK Surgery Market Dynamics
Personalized LASIK Surgery Market Driver
- Highly sophisticated and less invasive vision repair surgical method is a primary driver of the personalized LASIK surgery market. Furthermore, advantages such as cost-effectiveness, fewer side effects, and less problems encourage patients to choose this treatment. Furthermore, rising incidence of refractive diseases such as myopia, hyperopia, and astigmatism, as well as an increase in the number of R&D activities, are likely to fuel market expansion. Furthermore, the increased risk of infection due to the continuous use of contact lenses, the rising frequency of ocular disorders, and the advent of novel ophthalmic technologies are projected to favour the expansion of the personalized LASIK surgery market in the future years.
Personalized LASIK Surgery Market Restraint
- Surgery's high cost limits demand, as the rise in the number of cases of surgical failure and post-surgery problems is creating headwinds for this industry. Because of the expensive expense of ophthalmic equipment, as well as consultation and operation fees, only a small percentage of people can afford LASIK surgery. This is impeding the market growth.
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Personalized LASIK Surgery Market Competitive Landscape
In order to maintain competitiveness, the Global Personalized LASIK Surgery Market participants are heavily active in mergers and acquisitions. The advent of new technologies such as refractive lenticule extraction (ReLEx) and Small Incision Lenticule Extraction (SMILE) with Carl Zeiss' VisuMax laser is projected to create a profitable development platform for this industry. Abbott Molecular Optics and Nidek created products that were both quick and easy to use. AMO's iDesign is a next-generation wavefront approach that is said to produce accurate outcomes with great resolution.
Personalized LASIK Surgery Market Top Player's Company Profiles
- Johnson & Johnson Vision (US)
- Alcon (Switzerland)
- Carl Zeiss Meditec AG (Germany)
- Bausch Health Companies Inc. (Canada)
- EssilorLuxottica (France)
- NIDEK Co., Ltd. (Japan)
- Topcon Corporation (Japan)
- ZEISS International (Germany)
- Novartis AG (Switzerland)
- STAAR Surgical Company (US)
- Abbott Medical Optics (US)
- SCHWIND eye-tech-solutions GmbH (Germany)
- Technolas Perfect Vision GmbH (Germany)
- Lumenis Ltd. (Israel)
- Shanghai New Eyes Medical Inc. (China)
- Valeant Pharmaceuticals International, Inc. (Canada)
- LASIK MD (Canada)
- Optegra Eye Health Care (UK)
- Optical Express (UK) Optimax (UK)
Personalized LASIK Surgery Market Recent Developments
- In May 2022, Sohana Hospital, based in Mohali, India, launched the first LASIK treatment to stop the usage of spectacles. The Contoura Vision LASIK surgery can be performed in under 10 minutes.
- In December 2021, Eye-Q Super Speciality Eye Hospital in Surat, India, re-launched one of its most advanced LASIK machines, I Lasik, to provide bladeless operations for youth who want to get rid of their spectacles.
Personalized LASIK Surgery Key Market Trends
- As customised LASIK surgery is the most recent treatment option for myopia, the demand for LASIK procedures for myopia is increasing. Topography-guided LASIK surgery has been demonstrated in trials to be more successful than other treatments in treating myopia. Dr. A. John Kanellopoulos stated in October 2021 at the European Society of Cataract and Refractive Surgeons that due to eye tracking, cyclorotation compensation, and active centration control in topo-guided LASIK technology, better visual performance than SMILE (Small Incision Lenticule Extraction) was observed over long-term follow-up. Furthermore, in a four-year study comparing the refractive results of LASIK with SMILE, topo-guided LASIK revealed superior visual performance and precision, particularly in very myopic eyes. Such research will almost certainly enhance the use of personalized LASIK operations among myopia-affected populations.
Personalized LASIK Surgery 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 utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to Global Personalized LASIK Surgery Market, rising prevalence of refractive diseases is probably going to drive the global market forward. Furthermore, prominent market participants are focused on investments in research and development of bespoke LASIK technology. Several market participants are aggressively investing within the development and implementation of improved wavefront guided LASIK technology for individual treatment. However, pricey treatment methods and technical complexity are projected to stymie industry expansion. Furthermore, these operations may permanently harm the vision. Advanced LASIK operations for astigmatism, for instance, may cost approximately $4,500, in step with the American Refractive Surgery Council.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.66 Billion |
| Market size value in 2031 | USD 2.18 Billion |
| Growth Rate | 3.10% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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:-
|
| Historical Year | 2019 |
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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 Personalized LASIK Surgery 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 Personalized LASIK Surgery 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 Personalized LASIK Surgery 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 Personalized LASIK Surgery 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 Personalized LASIK Surgery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Personalized LASIK Surgery 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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