New York, USA, Oct. 10, 2022 (GLOBE NEWSWIRE) -- LASIK Eye Surgery Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “LASIK Eye Surgery Market Information By Type, Vision Error, End Users -Forecast till 2030”, the market is expected to reach USD 3400 million at CAGR of 5.60% during the forecast period 2022-2030.
Market Scope:
Laser assisted in situ keratomileusis (LASIK) is a surgical procedure used to treat nearsightedness, farsightedness, and astigmatism. LASIK surgery is becoming increasingly common as a means of correcting vision problems, as it provides a permanent option to relying on lenses or glasses for one's entire life. The corneal surface's curvature is molded or altered during this refractive surgery procedure.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 3400 Million |
| CAGR | 5.60% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Vision Error and End Users |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising prevalence of ophthalmic disorders |
| Increasing demand for minimally invasive surgical procedures |
Competitive Dynamics:
Market leaders employ strategies like new product launches, mergers and acquisitions, and contracts and collaborations. With these methods, not only would LASIK eye surgery market regulations be supported, but consumer satisfaction would also increase.
The major market players are:
- Abbott Inc. (U.S.)
- Alcon Laboratories Inc. (U.S.)
- AMO Manufacturing USA, LLC (U.S.)
- Bausch & Lomb Incorporated (U.S.)
- Carl Zeiss, Inc. (Germany)
- LaserSight Technologies, Inc (U.S.)
- Nidek Inc. (Japan)
Market USP:
Market Drivers
According to recent studies, interest in this cutting-edge kind of laser eye surgery is soaring. The LASIK laser eye surgery business is expected to continue its astounding expansion year over year, as a record number of people choose to have the procedure done. The demand for LASIK surgery to correct vision problems is rising rapidly. Myopia, hyperopia, and astigmatism are corrected with refractive surgery, and laser-assisted in situ keratomileusis is the most common type (LASIK). Throughout the world, the prevalence of eye issues is increasing at a startling rate. The growth of the business is also being aided by government spending on R&D.
The LASIK surgery industry is poised to expand thanks to developments in ophthalmic technology and the increasing number of elderly people in developing countries. Dry eyes, temporary vision loss due to things like glare, halos, or double vision, and other complications linked with eye procedures might be a hindrance in the LASIK surgery market.
Growth in the LASIK Eye Surgery Industry can be attributed to several factors, including the increasing prevalence of ophthalmic disorders, rising demand for minimally invasive surgical procedures, the proliferation of LASIK-capable eye care clinics, rising public awareness of the procedure's benefits, technological advancements, and increased government support.
Market Restraints
The high cost of care could stunt market growth throughout the forecast horizon. In addition to the rising price of ophthalmic devices, the inherent risks associated with eye treatments are a major restraint on the LASIK Eye surgery market's potential for growth over the coming years.
Browse In-depth Market Research Report (85 Pages) on LASIK Eye Surgery: https://www.marketresearchfuture.com/reports/lasik-eye-surgery-market-1774
LASIK Eye Surgery Market COVID-19 Analysis:
The introduction of COVID-19 into the pandemic environment had far-reaching effects on healthcare facilities and procedures. COVID-19 has had a knock-on effect on ophthalmic procedures as well. Ophthalmic procedures are very problematic during a pandemic because they may spread the virus and cause discomfort.
Demand for LASIK operations in general was reduced during the pandemic due to the spread of COVID-19. The market is anticipated to see significant rise in demand over the forecast period due to the advent of many industries and medical practices.
LASIK Eye Surgery Market Segmentation:
By Type
In 2021, the wavefront optimized market share was the highest, and it is anticipated to remain at that level throughout the forecast period. This expansion of the market may be attributable to improvements in areas such as visual acuity, higher-order aberrations (HOAs), and foreseeability. The same is true for eyes with or without astigmatism: wavefront tailored treatments can safely and successfully correct myopia in both. As a result, this is seen as a driving force behind the expansion of the sector.
By Vision Error
The market share held by the myopia segment in 2021 is the greatest and is expected to remain at that level throughout the forecast period. There are more people, and more people get myopia as they become older, therefore that explains the segment's increase.
By End-user
In 2021, the market for eye clinics is projected to develop at the fastest rate, and this trend is predicted to continue throughout the forecast period. The expansion of this market sector may be attributable to the proliferation of specialized eye care clinics around the globe.
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LASIK Eye Surgery Market Regional Analysis:
The LASIK Eye Surgery market is the largest in the Americas because of the region's advanced technology, growing population of people with vision impairments, high healthcare costs, and greater government support for R&D. Increased research and development and the concentration of major businesses in this sector have also contributed to the market's growth. Key players in this industry are focusing their attention on developing nations like India and China.
Europe is the world's second-largest market for LASIK eye surgery because of government investment in R&D and access to research funding. This is expected to remain a primary factor in the growth of the European market in the near future. The healthcare budgets of several developed nations, including Germany and France, are growing.
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The LASIK eye surgery market in Asia Pacific is growing at twice the rate of any other region due to rapidly developing healthcare technologies, a big patient population, and high healthcare spending. In addition, countries like India and China, where demand is rising for innovative treatment methods, are forecast to become the world's fastest growing market. However, the Middle East and Africa account for the smallest share of the global LASIK eye surgery market due to low levels of health literacy and limited access to care.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
