Personalized LASIK Surgery Market will rise to US$ 2.6 Billion by 2024

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Personalized LASIK Surgery Market - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast 2016
According to a new research report by Transparency Market Research (TMR),
the global market for personalized LASIK surgery is highly consolidated in
nature with a limited number of players operating it. The to p five participants
in this market, namely, Alcon, Abbott Medical Optics, Carl Zeiss, NIDEK, and
Bausch & Lomb, accounted for 87% of this market in 2015. The diverse
product portfolio, rising geographic penetration, and the robust product
pipelines are the key factors behind the monopoly of these players on this
The market demonstrates an extremely competitive landscape and the rivalry
between the leading players is likely to intensify further in the forthcoming
years. As the market consists of a few k ey participants, a continued price war
is expected between them, which consequently, will prompt them to enter into
contracts with their end users, strengthening their relations. Mergers and
acquisitions are also projected to take place frequently in this market in the
near future, states the report.
As per TMR’s estimations, the global market for personalized LASIK, which
was worth US$1.6 bn in 2015, is likely to expand at a healthy CAGR of 5.60%
during the period from 2016 to 2024 and attain a value of US$2.6 bn by the
end of the period of the forecast. Among all the end users, the hospital segment
emerged as leading contributor to the global market for personalized LASIK
surgeries in 2015 and is anticipated to maintain its position throughout the
forecast period.
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The report further offers a geographical assessment of the worldwide market
for personalized LASIK surgery. It considers Europe, Asia Pacific, North
America, Latin America, and the Middle East and Africa as the key
geographical segments of this market. As per the study, North America
dominated the global market in 2015 with a share of 45%. The continual
increase in the geriatric population, rising prevalence of vision related
disorders, and the augmenting awareness regarding the treatments of these
disorders using laser technique have surfaced as the key factor behind the
growth of the North America market for personalized LASIK surgery. Thanks
to the emergence of novel technologies, growing prevalence of ocular
disorders, and the escalating utilization of LASIK surgeries by
ophthalmologists in the corrective treatments for vision disorders, this regional
market is anticipated to hold its position throughout the forecast period.
Asia Pacific, on the other hand, is expected to e merge as the most promising
regional market for personalized LASIK surgery in the years to come. The
rising population of elderly people, increasing cases of myopia and presbyopia,
and the si gnificant surge in investments from key market participants for
setting up a robust distribution channel are boosting the Asia Pacific market
for personalized LASIK surgery. In addition, the availability of low cost
treatments for vision disorders and the upturn in the medical tourism are
projected to boost this market significantly in the near future, notes the research
According to a TMR analyst, “the demand for personalized LASIK surgeries
is directly influenced by the prevalence of various vision defects among people
across the world.” The rising incidence of myopia and astigmatism, the most
common eye disorders, has created significant growth opportunities for market
players and corrective treatment providers. Along with this, the swelling pool
of presbyopia patients is also impacting the demand for these surgeries greatly,
resulting in a considerable growth of this market.
On the other hand, the rise in the reports of post-surgery complications in eyes
and the high cost of advanced ophthalmology systems may limit the uptake of
personalized LASIK surgeries to some extent over the coming years. However,
the emergence of new ophthalmic technologies are expected to neutralize the
effect of these restraints on this market in the years to come, notes the research
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