Personalized LASIK Surgery Market size worth USD 3.7 billion by 2023

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Personalized LASIK Surgery Market size to exceed USD 3.7
billion by 2023: Global Market Insights Inc.
Personalized LASIK Surgery Market size in 2015 was USD 1.5 billion and is predicted to
grow to USD 3.7 billion by 2023. Wavefront guided personalized LASIK surgery market
share was approximately 40% in 2015, and represented the largest industry segment. North
America was over USD 680 million in 2015, mainly on account of the U.S. personalized
LASIK surgery industry. This is attributed to the prevailing healthcare infrastructure,
increased awareness and presence of major competitors in the region.
Asia Pacific personalized LASIK surgery market size is predicted to showcase rapid growth
rate and capture over 17% of the global share. Increasingly stable economic conditions and
improved awareness in the region are responsible f or growth. Additionally, rising disposable
income, growing number of treatment centers, along with companies focusing on the unmet
vision correction needs will accelerate demand.
Approximately 35% of the overall U.S. population is afflicted with eye disorders including
myopia, astigmatism, hyperopia, and presbyopia and have to wear glasses, according to the
AAO. The growing incidence of these disorders coupled with increased demand for laser
based eye surgeries due to development of rapid, painless, and sensitive techniques and
equipment is the main driving factor for this industry. An additional important factor is the
continuously increasing global geriatric population with increased incidence of cataract and
glaucoma.
The added benefits from minimum invasion surgical procedures such as decreased blood
loss and hospital stay leading to lower expenses will further fuel personalized LASIK surgery
market size. For example, AMO has developed iLASIK platform which comprises IntraLase
laser; this functions on the above features and thus is a prominently used technology.
The awareness initiatives undertaken by organizations such as NEI and Blue Cross will
promote adoption. High personalized LASIK surgery market price trend, ambiguous
regulatory framework along with insufficient reimbursement policies are the major restraining
factors for industry growth. Key segments include wavefront optimized, topography guided,
and wavefront guided surgeries.
Wavefront based technology entails the computation of the patient’s cornea based on the
way light passes across the eyes to fall on the retina. Therapyusingthis method is completely
adapted to patient’s eye anatomy. On the other hand, topography procedures quantify the
eye surface based on the patient’s eye anatomy.
Abbott’s iDesign helps generate a high resolution scan during LASIK procedures in order to
map any irregularities in the eye. Other major systems are Abbott’s CustomVue and
WaveScan System, Bausch & Lomb Technolas 217z, etc.
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Topography guided segment is predicted to flourish during the forecast timeframe. Quick
and pain-free procedure combined with less side effects and regulatory acceptance of
important instruments are among the key growth drivers. Major products and systems that
have been commercialized include Alcon WaveLight series’ EX500 and Allegretto Wave.
Europe is among the key regional segments for these procedures as a result of high
investments in R&D and surging demand for customized surgeries.
The major competitors are Carl Zeiss Inc., Abbot Medical Optics, Nidek Inc., Bausch +
Lomb, and Alcon Laboratories Inc. These companies are engaged in forming strategic
alliances through mergers as well as acquisitions to endure the intense competition. For
example, the acquisition of Technolas by Bausch & Lomb in January 2013 thatled to the
inclusion of femtosecond lasers to the latter’s product line.
Introduction of Small Incision Lenticule Extraction (SMILE) and Refractive Lenticule
Extraction (ReLEx) technologies with the Carl Zeiss’s VisuMax laser will f uel growth. Nidek
and Abbot Molecular Optics have launched easy to use and high speed products. AMO
introduced the new wavefront method iDesign which provides precise results in high
revolution. In 2013, US FDA approved the CATz program developed by Nidek to work along
with Nidek’s NAVEX Quest in the therapy of errors of refraction arising due to astigmatism
and myopia.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research
and consulting service provider; offering syndicated and custom research reports along with
growth consulting services. Our business intelligence and industry research reports offer
clients with penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are designed via a
proprietary research methodology and are available f or key industries such as chemicals,
advanced materials, technology, renewable energy and biotechnology.
Jack Davis
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: [email protected]nsights.com
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