Pune, India, Jan. 28, 2022 (GLOBE NEWSWIRE) -- The global LASIK surgery market is expected to value USD 3.20 Billion million in 2021 and is expected to grow at a CAGR of 7.12 % during the forecast period, according to a recent market study by Quince Market Insights. LASIK surgery is a process which can accurately correct most myopia, hyperopia, and astigmatism levels. This procedure reshapes the front surface or cornea of the eye to enable light entering the eye and focus on retina. It can be an alternative to contact lenses or glasses.
Increasing number of people suffering from ophthalmic disorders is the major factor contributing to market growth. Increasing demands for minimally invasive surgical procedures with technological advancements in ophthalmic surgeries also contribute to the LASIK surgery market. Also, high cost involved in ophthalmic devices and some temporary issue such as decrease in tear production or dry eyes after surgery can restrain the growth of LASIK surgery market during the forecast period.
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Increasing technological advancements in ophthalmic equipment and rising emerging markets with growing geriatric populations are expected to create new opportunities for the LASIK surgery market. However, risks associated with eye surgeries such as dry eyes, temporary vision loss such as glare, halons or double vision can arise can pose a challenge to the LASIK surgery market.
Impact of COVID-19 on Global LASIK Surgery Market
The emergence of COVID-19 had an immense effect on hospitals and medical practices during the pandemic situation. The ophthalmic surgeries have also been affected during the COVID-19. Also, during the pandemic period, the ophthalmic surgeries can be risky as it can transmit virus which may lead to irritation.
COVID-19 had negatively affected the overall demand for LASIK surgeries during the pandemic situation. But, with the opening of several industries and medical practices, the market is expected to observe positive growth in its demand during the forecast period.
Global LASIK Surgery Market, by Type
Based on type, the LASIK surgery market is bifurcated into wavefront-guided, wavefront optimized, topography guided, and all laser. Among these, wavefront optimized segment holds the largest market share in 2021 and is expected to remain largest during the forecast period. The segment growth can be due to various advantages in visual acuity, higher-order aberrations (HOAs), and predictability. Also, wavefront optimized treatments can safely and effectively correct myopia in eyes with and without astigmatism. This factor is expected to contribute to segment growth.
Global LASIK Surgery Market, by Vision Error
Based on vision error, the LASIK surgery market is bifurcated into myopia, hyperopia, astigmatism, and others. Myopia segment holds the largest market share in 2021 and anticipated to hold its largest position during the coming forecast period. The segment growth can be attributed to growing population base and increasing prevalence of myopia with growing age.
Global LASIK Surgery Market, by End User
Based on end user, the LASIK surgery market is segmented into hospitals, LASIK centers, and eye care clinic. Among these, the eye care clinic segment is the fastest-growing market in 2021 and is expected to remain the fastest during the forecast period. The segment growth can be due to rapid growth in the development of special eye care clinics across the world.
Also, the standard treatment procedures in the clinic are attracting a greater number of patients along with developed ophthalmic surgical equipment, boosting the global LASIK surgery market.
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Global LASIK Surgery Market, by Region
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. Asia Pacific is the fastest-growing market segment in 2021 for LASIK surgery and is expected to remain the fastest market during the forecast period. The regional market growth can be due to rapidly growing healthcare technology, increasing population with ophthalmic disorders. Moreover, increasing demand for new minimal treatment methods is driving the LASIK surgery market in Asia Pacific.
Recent Developments in the Global LASIK Surgery Market
- August 2021 – Eye Health America announced acquisition of Nielsen Eye Center. This acquisition will expand Eye Health America’s continuum of patient care in Tampa Bat Area.
- June 2021 – Jawaharlal Institute of Postgraduate Medical Education and Research (Jimper) established Lasik (Laser-assisted in situ-keratomileusis), an operation theatre to perform advanced ophthalmic surgeries.
Some Key Findings of the Global LASIK Surgery Market Report Include:
- The analysis includes a global LASIK surgery market study, expansions, and forecasts, along with a country-specific analysis
- An in-depth analysis of the global LASIK surgery market comprises segment types, vision error, end user, and regions with an analysis of trend-based insights and factors
- Product offering details on competitive benchmarking and evolution approach adopted by the industry players, along with their investments in the last five years in the global market have been provided in the report
- The market research includes a study of the provinces, boundaries, drivers, prospects, guidelines, challenges, and procedures that are propelling the global LASIK surgery market
- The study also offers complex measures of potential market effect during the forecast period and an in-depth overview of the leading companies operating in the global market
- External as well as internal variables that are expected to have a positive or negative effect on companies have been evaluated, which will offer the decision-makers a strong futuristic view of the industry
- The research also helps understand the dynamics of the LASIK surgery market structure by analyzing market segments and by projecting the size of the market
- The report helps to understand the effects of COVID-19 pandemic on LASIK surgery market
- Some major industry players functional in the global LASIK surgery market are: Abbott Inc., Carl Zeiss, Inc., Alcon Laboratories Inc., Bausch & Lomb Incorporated, AMO Manufacturing USA, Nidek Inc., LaserSight Technologies
For more information on this topic please visit our website report titled, “LASIK Surgery Market, by Types (Wavefront-Guided, Wavefront Optimized, Topography Guided, All Laser), Vision Error (Myopia, Hyperopia, Astigmatism, Others), End User (Hospitals, LASIK Centers, Eye Care Clinic), and Region (North America, Europe, Asia Pacific, Middle East and Africa, South America)”— in-depth analysis along with the table of contents (ToC).
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