Increasing Vision Defects to Augment the Global LASIK Eye Surgery Market During the Forecast Period

Pune, India, October, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on LASIK Eye Surgery Market Research Report.

Market Scenario

The global LASIK eye surgery market is presumed to expand at 6.5% CAGR during the assessment period (2017-2022) owing to the increasing vision defects due to pollution, asserts Market Research Future (MRFR). LASIK (Laser-assisted in situ keratomileusis), also referred to as laser vision correction or laser eye surgery, is a type of refractive surgery performed to correct hyperopia, myopia, and astigmatism. LASIK surgery is performed by an ophthalmologist by using a microkeratome or a laser to reshape the cornea of one’s eye and improve the visual acuity. LASIK offers a long-lasting alternative to contact lenses and eyeglasses for most of the people.

Drivers and Constraints Impacting the Market

The LASIK eye surgery market is expanding remarkably owing to the occurrence of visual problems across the globe. According to World Health Organization, around 285 million people across the world are suffering from vision impairment. Changes in environmental factors, for instance, changing lifestyle where individuals focused more into work and studies and spent less time outdoors also affect the vision. Companies are also investing more in research and development activities in order to introduce better treatment facilities for vision problems. For instance, Alcon Laboratories Inc. has launched next generation hydrogen peroxide lens care solution, AOSEPT PLUS with HydraGlyde Solution in 2015. Also, government support is further fueling the growth of the market. Moreover, the growing population has led to the introduction of electronic devices such as mobile phones along with unhealthy lifestyle. This has increased the prevalence of vision problems such as hyperopia astigmatism and myopia. In order to rectify such issues, people are adopting LASIK surgery which is fostering the market growth.

On the flip side, high cost of treatment is considered to retard the market growth across the globe in the coming years. Also, its technical complexity possesses challenges to the doctors performing such surgeries. It can also result in damaging the vision permanently. Such factors are likely to hinder the market growth.

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Global LASIK Eye Surgery Market: Segmental Analysis

The global LASIK eye surgery market has been segmented on the basis of vision error, type, end-user, and region.

By mode of type, the global LASIK eye surgery market has been segmented into all laser, wavefront-guided, wavefront optimized, and topography-guided. Among these, the Wavefront-guided LASIK is an advanced technology and uses optical aberrations of the eye to correct vision and measure and treat high-order aberrations. It also uses a sophisticated computer-controlled laser which provides better result when compared to the standard laser.

By mode of vision error, the global LASIK eye surgery market has been segmented into hyperopia, myopia, astigmatism, and others. Myopia is further sub-segmented into simple, nocturnal, induced or acquired, degenerative, pseudomyopia, and others. Astigmatism is also sub-segmented into mixed astigmatism, myopic astigmatism, hyperopic astigmatism, and others.

By mode of end-users, the global LASIK eye surgery market has been segmented into eye care clinic, hospitals, LASIK centers, and others. Hospitals are offering minimally invasive (MI) procedures such as LASIK surgery that is highly profitable for the hospitals. They also have access to technologically advanced equipment and specialized surgeons. Factors such as the availability of specialized LASIK treatment packages, the entry of several private hospitals, and the increasing incidence of refractive disorders are presumed to contribute to the growth of the market.

Regional Insights

Geographically, the LASIK eye surgery market span across America, Europe, Asia Pacific, and the Middle East and Africa.

The American region is presumed to dominate the LASIK eye surgery market due to the huge population suffering from vision problems, well-developed technology, growing government support for R&D activities, high spending on health care, and presence of major companies in this region.

Europe holds the second position in the global market due to the high availability of funds for research coupled with government support for R&D activities. Countries such as France and Germany are increasing their investments in the healthcare domain which is further fueling the market growth in this region.

Asia Pacific is considered to be the fastest growing market due to the presence of developing healthcare technology, high expenditure on health care, and huge patient population. Also, growing demand for the latest treatment methods in China and India is considered to emerge as the fastest growing market globally.

Industry News

Chirped-Pulse Amplification (CPA) is used in LASIK eye surgery to slice open the lens of the eye quickly without damaging the surrounding tissue. Around 10 million of the patient population in the U.S. had their vision corrected with the help of this procedure and had proven to be effective.

Competitive Dashboard

The major players operating the global market are Bausch & Lomb Incorporated (U.S.), Carl Zeiss Inc. (Germany), Nidek Inc. (Japan), Abbott Inc. (U.S.), Alcon Laboratories Inc. (U.S.), AMO Manufacturing USA, LLC (U.S.), and LaserSight Technologies Inc (U.S.)