NEW YORK, March 28, 2024 /PRNewswire/ — The global lasik surgery market size is estimated to grow by USD 1.24 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 6.14% during the forecast period. The LASIK surgery market encompasses refractive errors and corrective solutions like eyeglasses and contact lenses, with high costs influencing insurance coverage. Factors driving growth include ophthalmic disorders, technological advancements in LASIK surgery (Laser-assisted in situ-keratomileusis) such as wave front optimization, and end users like hospitals, LASIK centers, and eye care clinics (Eye Health America, Nielsen Eye Center). Market value and growth rate are influenced by myopia, hyperopia, and astigmatism, as well as societal, economic, legal, and environmental considerations. Ophthalmic disorders and technological advancements continue to shape market scenarios.
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Innovation Sparks Market Growth:
The LASIK Surgery Market is experiencing significant growth due to the increasing prevalence of refractive errors such as myopia, hyperopia, and astigmatism. The high cost of eyeglasses and contact lenses, coupled with insurance coverage for LASIK surgery, is driving market expansion. However, regulatory laws and environmental concerns pose challenges. The economy, society, and ophthalmic disorders also influence market scenarios. Key players in the market include Hospitals, LASIK Centers, and Eye Care Clinics like Eye Health America and Nielsen Eye Center. Technological advancements in LASIK surgery, such as wave front optimized laser-assisted in situ-keratomileusis, are forecasted to boost market value and growth rate during the forecast period. The market is segmented by vision errors, end users, and geography. Ophthalmic disorders and technological advancements continue to shape the market landscape for refractive surgeries.
Addressing Challenges:
The LASIK surgery market is driven by increasing awareness and acceptance of vision correction procedures, lifestyle factors, and technological advancements. Opportunities lie in customized LASIK treatments, such as Excimer Laser Systems, microkeratomes, and femtosecond lasers, used in corneal ablation and wavefront-guided treatments. However, high costs and regulatory challenges pose restraints. Recent developments include Bladeless LASIK procedures, eye tracking systems, and ultraviolet laser technology. Key players include hospitals, ophthalmic clinics, ambulatory surgical centers, and suppliers. End users are individuals with ocular illnesses, refractive errors, and visual impairments due to aging or ophthalmic disorders like cataracts. Market share is influenced by product type and region. Emerging revenue pockets include personalized LASIK technology and government initiatives. Technological innovations continue to shape the market, with ongoing research in femtosecond lasers and excimer laser systems. Trade regulations and import-export analysis, as well as production analysis and value chain optimization, are crucial for market growth.
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Market Overview
The LASIK surgery market is a significant segment of the ophthalmic devices industry. Markets like the United States, Europe, and Asia-Pacific are driving the growth of this market. The increasing prevalence of refractive errors and the adoption of advanced technologies are key factors fueling the market. LASIK (laser-assisted in situ keratomileusis) is a popular refractive surgery that uses a laser beam to reshape the cornea. This procedure is used to treat myopia, hyperopia, and astigmatism. The market is competitive, with major players such as Alcon Laboratories, Inc., Carl Zeiss Meditec AG, and Nidek Co., Ltd., dominating the scene. The use of customized LASIK techniques and the development of new technologies are expected to provide new opportunities for market growth. The LASIK market is projected to reach significant value by 2027.
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Key Companies:
LASIK Surgery Market is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. LASIK Surgery Market report includes information on the product launches, sustainability, and prospects of leading vendors including Abbott Laboratories, Alcon Inc., Bausch Lomb Corp., Carl Zeiss AG, Coherent Inc., EyeCare Partners LLC , GHV Advanced Health Pvt Ltd., Hoopes Vision, Johnson and Johnson, LCA Vision Inc. dba, Mayo Clinic, Medfin., NIDEK Co. Ltd., Novartis AG, Restivo Laser Vision, SCHWIND eye-tech-solutions GmbH, Smart Vision Eye Specialities Pvt. Ltd., TLC Laser Eye Centers, Vidal Health Insurance TPA Pvt Ltd, Ziemer Ophthalmic Systems AG
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
- Technology
- Wavefront-guided
- Wavefront-optimized
- Topography-guided
- End-user
- LASIK Centers
- Eyecare Clinics
- Hospitals
- Geography
- North America
- Europe
- Asia
- Rest Of World (ROW)
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
