Custom Lasik Surgery Market Overview:
As per MRFR analysis, the Custom Lasik Surgery Market Size was estimated at 12.22 (USD Billion) in 2022. The Custom Lasik Surgery Market is expected to grow from 13.29 (USD Billion) in 2023 to 28.3 (USD Billion) by 2032. The Custom Lasik Surgery Market CAGR (growth rate) is expected to be around 8.76% during the forecast period (2024 - 2032).
Key Custom Lasik Surgery Market Trends Highlighted
The Custom Lasik Surgery Market is growing rapidly, driven by advancements in technology and increasing demand for vision correction procedures.
The market is expected to witness strong growth over the next few years, with key drivers including the rising prevalence of refractive errors, technological advancements such as femtosecond lasers and wavefront-guided technology, and growing awareness of LASIK surgery as a safe and effective procedure.
Emerging trends in the market include the use of femtosecond lasers for flap creation, which provides increased precision and accuracy, as well as the use of wavefront-guided technology for aberration correction, resulting in improved visual outcomes.
Additionally, the increasing adoption of laser-assisted in situ keratomileusis (LASIK) procedures over traditional LASIK is expected to drive market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Custom Lasik Surgery Market Drivers
Rising Prevalence of Myopia and Other Refractive Errors
Myopia, widely known as nearsightedness, is an abnormality of the optical system of the eye. This disorder is a refractive error that results from any deviation in the length of the eyeball being too long or the cornea being excessively curved.
Such an abnormality causes the light images to focus in front of the retina instead of falling directly on it. For this reason, people who suffer from myopia can see near objects clearly; however, they have a blurred vision of distant ones.
The World Health Organization reports that approximately 2.5 billion individuals across the globe are nearsighted currently, and the number is expected to grow to 5 billion by 2050. In light of this, the increasing incidence is among the primary drivers of the Custom Lasik Surgery Market.
Custom LASIK surgery is a type of laser eye surgery that corrects refractive errors, including myopia, hyperopia, and astigmatism. The process is comprehensive and highly validated as it employs the latest technology to create a unique surgical plan for the patient.
Meanwhile, people with myopia will increasingly require Custom LASIK surgery to achieve better vision as its incidence rises.
Technological Advancements in Laser Eye Surgery
The Custom Lasik Surgery Market has been drastically transformed by the technological advancements that occurred in laser eye surgery in the past years. These advances have increased the safety, accuracy, and effectiveness of Custom LASIK procedures.
Perhaps the most significant one is the femtosecond laser which uses high-frequency light pulses to create highly precise corneal flaps and accomplish a better LASIK surgery. In fact, this technology reduces the complications associated with LASIK surgery and significantly improves the overall patient results.
Another improvement is the use of wavefront-guided LASIK that accurately measures the eye of a patient and creates the most personalized treatment plan.
Since this technology is specifically designed to address higher-order aberrations, it can dramatically improve the quality of a patient’s vision. Overall, in the future, the Custom Lasik Surgery Market will benefit from the development of even more advanced and efficient laser eye surgeries.
Growing Demand for Cosmetic Eye Surgery
In addition to its use in correcting refractive errors, Custom LASIK surgery is also increasingly being used for cosmetic purposes. This is due to its ability to reshape the cornea and improve the appearance of the eyes.
For example, Custom LASIK surgery can be used to correct ptosis, a condition in which the upper eyelid droops. It can also be used to create a more symmetrical appearance to the eyes or to reduce the appearance of wrinkles around the eyes.
The growing demand for cosmetic eye surgery is another factor driving the growth of the Custom Lasik Surgery Market. As more people seek to improve their appearance through surgical procedures, the demand for Custom LASIK surgery is expected to increase.
Custom Lasik Surgery Market Segment Insights:
Custom Lasik Surgery Market Type Insights
The Custom Lasik Surgery Market is segmented by Type into LASIK, PRK, SMILE, and Refractive Lens Exchange. LASIK is expected to have the largest market share in 2023, as it is the most popular custom lasik surgery with a high success rate.
PRK is expected to have a slow growth rate between 2023 and 2032, as it is the next best option to Lasik and has several advantages in some cases, including thin corneas. SMILE is a relatively new and less invasive technique that is becoming popular and, hence, is projected to have an explosive growth rate.
Refractive Lens Exchange is a more invasive procedure to address presbyopia or cataracts in certain cases, which is expected to show moderate growth. The Custom Lasik Surgery Market is driven by increasing demand for correcting refractive errors, technological advancements and increasing disposable incomes.
LASIK is the most commonly performed refractive surgery and accounts for over 90% of all such procedures. PRK is also a popular alternative when a patient does not qualify for Lasik, such as thin corneas or dry eye syndrome. SMILE is a less invasive procedure with a lower risk of inducing dry eye symptoms and other complications.
RLE is a more invasive procedure but can provide excellent visual results for certain cases with presbyopia or cataracts. The Custom Lasik Surgery Market is expected to grow significantly over the next ten years.
The market is expected to reach 28.3 billion USD by 2032 from a value of 6 billion USD by 2017 in a CAGR of 8.76. This growth is primarily driven by increasing demand for refractive error surgeries, technological advancements and increasing disposable incomes. The market is primarily driven by lasik, prk, smile or RLE with lasik having the largest share.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Custom Lasik Surgery Market Technology Insights
The key technologies for Custom LASIK Surgery are Femtosecond Lasers, Excimer Lasers, Wavefront-Guided LASIK, and Topographic-Guided LASIK. From 2024 to 2032, Femtosecond Lasers are expected to be the fastest-growing segment, with a CAGR of 10.2%.
In 2023, the Custom Lasik Surgery Market was valued at around USD 13.29 billion. Market growth is fueled by the surge in the prevalence of refractive errors, awareness regarding LASIK surgery, technological advancements, and increased disposable income.
Custom Lasik Surgery Market Application Insights
The Application segment of the Custom Lasik Surgery Market is broadly classified into Myopia, Hyperopia, Astigmatism, and Presbyopia. Among these, Myopia holds the largest market share due to its high prevalence and increasing demand for vision correction procedures.
As per market data, the Myopia segment is projected to reach a valuation of USD 9.6 billion by 2024, exhibiting a significant growth rate. Hyperopia, on the other hand, is estimated to grow steadily, driven by the rising cases of farsightedness, especially among the aging population.
The Astigmatism segment is also anticipated to witness considerable growth, owing to technological advancements and increased awareness about vision correction options.
Presbyopia, affecting individuals over the age of 40, is expected to contribute to market growth as demand for presbyopia correction surgeries increases.
Custom Lasik Surgery Market Laser Platform Insights
Key players in this segment include Intralase FS iFS, IntraLase iLasik, Alcon WaveLight EX500, Carl Zeiss Meditec MEL, and WaveLight FS200. These platforms utilize advanced laser technology to create precise corneal flaps, enabling customized and optimized surgical outcomes.
The increasing demand for minimally invasive and personalized surgical procedures, coupled with technological advancements, is driving the growth of this segment.
Custom Lasik Surgery Market Market End User Insights
Hospitals held the largest share of the Custom Lasik Surgery Market in 2023, accounting for around 60% of the market revenue. The high volume of LASIK procedures performed in hospitals, advanced infrastructure, and the presence of skilled surgeons contribute to this dominance.
Clinics and ambulatory surgery centers are projected to witness significant growth during the forecast period, owing to their focus on providing specialized LASIK services, cost-effective procedures, and convenient locations.
Ambulatory surgery centers are expected to capture a larger market share due to their growing popularity for same-day surgeries, including LASIK, offering patients a convenient and cost-effective option.
Custom Lasik Surgery Market Regional Insights
The regional landscape of the Custom Lasik Surgery Market showcases distinct growth patterns across key regions.
North America dominates the market, capturing a significant share due to high disposable income, advanced healthcare infrastructure, and a large patient pool seeking refractive surgery.
Europe follows closely, driven by rising demand for vision correction procedures and government initiatives promoting healthcare accessibility.
APAC exhibits strong growth potential, with countries like China and India witnessing a surge in demand for Custom Lasik Surgery due to increasing awareness and affordability.
South America and MEA hold promising opportunities for market expansion, as these regions experience a growing middle class and increasing investment in healthcare infrastructure.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Custom Lasik Surgery Market Key Players and Competitive Insights:
Major players in the Custom Lasik Surgery Market are constantly engaging in research and development activities to introduce advanced technologies and products.
Leading Custom Lasik Surgery Market players are focusing on strategic collaborations and partnerships to expand their market reach and enhance their product offerings.
The Custom Lasik Surgery Market development is driven by the increasing adoption of advanced laser technologies, such as femtosecond lasers and excimer lasers, which provide greater precision and accuracy during the surgery.
Furthermore, the rising demand for minimally invasive and vision correction procedures is contributing to the growth of the Custom Lasik Surgery Market Competitive Landscape.
Alcon, a leading player in the Custom Lasik Surgery Market, offers a range of advanced laser systems and technologies for vision correction procedures.
The company's EX500 Excimer Laser System and LenSx Femtosecond Laser System are widely used in refractive surgery. Alcon's commitment to innovation and customer satisfaction has established it as a trusted partner for ophthalmologists worldwide.
Johnson & Johnson Vision, a key competitor in the Custom Lasik Surgery Market, is known for its advanced laser technologies and comprehensive portfolio of vision correction solutions.
The company's VISX Star S4 IR Excimer Laser System and iFS Femtosecond Laser System are among the most popular laser systems used in refractive surgery.
Johnson & Johnson Vision's focus on research and development, combined with its strong global presence, has made it a formidable player in the Custom Lasik Surgery Market.
Key Companies in the Custom Lasik Surgery Market Include:
- Nidek Co., Ltd.
- Optovue, Inc.
- Technolas Perfect Vision GmbH
- Ziemer Ophthalmic Systems AG
- Alcon Laboratories, Inc.
- Abbott Laboratories
- iVis Technologies
- Carl Zeiss AG
- Bausch + Lomb, Inc.
- WaveLight AG
- Johnson Johnson Vision Care, Inc.
- SCHWIND eyetechsolutions
- Lumenis Ltd.
- Meril Life Sciences Pvt. Ltd.
Custom Lasik Surgery Market Developments
The Custom Lasik Surgery Market is anticipated to reach USD 28.3 billion by 2032, exhibiting a CAGR of 8.76% during the forecast period.
Technological advancements, such as the introduction of femtosecond lasers and wavefront-guided technology, have enhanced the accuracy and safety of LASIK procedures, driving market growth.
Additionally, rising disposable income and increasing awareness about refractive errors contribute to the market's expansion. The Asia-Pacific region is projected to witness significant growth due to factors like a large patient pool, growing healthcare infrastructure, and increasing demand for advanced eye care treatments.
Key market players are focusing on strategic collaborations, product launches, and geographical expansion to gain a competitive edge.
Custom Lasik Surgery Market Segmentation Insights
- Custom Lasik Surgery Market Type Outlook
- LASIK
- PRK
- SMILE
- Refractive Lens Exchange
- Custom Lasik Surgery Market Technology Outlook
- Femtosecond Lasers
- Excimer Lasers
- Wavefront-Guided LASIK
- Topographic-Guided LASIK
- Custom Lasik Surgery Market Application Outlook
- Myopia
- Hyperopia
- Astigmatism
- Presbyopia
- Custom Lasik Surgery Market Laser Platform Outlook
- Intralase FS iFS
- IntraLase iLasik
- Alcon WaveLight EX500
- Carl Zeiss Meditec MEL
- WaveLight FS200
- Custom Lasik Surgery Market End User Outlook
- Hospitals
- Clinics
- Ambulatory Surgery Centers
- Custom Lasik Surgery Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
12.22(USD Billion) |
| Market Size 2023 |
13.29(USD Billion) |
| Market Size 2032 |
28.3(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
8.76% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Nidek Co., Ltd., Optovue, Inc., Technolas Perfect Vision GmbH, Ziemer Ophthalmic Systems AG, Alcon Laboratories, Inc., Abbott Laboratories, iVis Technologies, Carl Zeiss AG, Bausch + Lomb, Inc., WaveLight AG, Johnson Johnson Vision Care, Inc., SCHWIND eyetechsolutions, Lumenis Ltd., Meril Life Sciences Pvt. Ltd. |
| Segments Covered |
Type, Technology, Application, Laser Platform, Market End User, Regional |
| Key Market Opportunities |
Rising demand for vision correction, technological advancements, increased disposable income, growing awareness, and emerging markets |
| Key Market Dynamics |
Technological advancements, rising disposable income, increasing prevalence of vision disorders, growing awareness of laser eye surgeries, and expanding insurance coverage |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Custom Lasik Surgery Market was valued at approximately USD 13.29 Billion in 2023.
The Custom Lasik Surgery Market is projected to grow at a CAGR of 8.76% from 2024 to 2032.
The Custom Lasik Surgery Market is projected to reach a valuation of around USD 28.3 Billion by 2032.
North America held the largest market share in the Custom Lasik Surgery Market in 2023.
The increasing prevalence of refractive errors, rising disposable income, and technological advancements are key factors driving the growth of the Custom Lasik Surgery Market.
Custom Lasik Surgery is primarily used for the correction of refractive errors such as nearsightedness, farsightedness, and astigmatism.
Key competitors in the Custom Lasik Surgery Market include Johnson & Johnson Vision, Abbott Laboratories, Alcon, and Bausch Lomb.
The high cost of Custom Lasik Surgery and the potential for complications are challenges faced by the Custom Lasik Surgery Market.
Technological advancements and the increasing demand for refractive error correction present opportunities for growth in the Custom Lasik Surgery Market.
Key trends shaping the Custom Lasik Surgery Market include the adoption of femtosecond lasers and the development of wavefront-guided technology.
