Personalized LASIK Surgery Market.pdf

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Personalized LASIK Surgery Market Research Report by Regional Analysis - North America,
Europe, Asia Pacific, Latin America, Middle East & Africa : forecast 2024
Laser-assisted in situ keratomileusis, commonly referred to as LASIK, is a laser eye surgery or
laser vision-correction. It is a type of refractive surgery performed by an ophthalmologist for the
correction of mainly three disorders: short-sightedness (myopia), far-sightedness (hyperopia), and
astigmatism. Personalized LASIK, also known as custom LASIK, is a precise and more specific
procedure that facilitates a surgeon to focus on quality as well as quantity of vision. Unlike the
conventional LASIK procedure, custom LASIK involves utilization of advanced wavefront
technology, wherein the unique characteristics of an eye can be evaluated.
In customized LASIK procedure, the refractive errors are evaluated by the difference of 0.01D
instead of 0.25D in routine eyeglass prescription, making it 25 times more precise. The
measurements are collected from hundreds of individual reference points on the front surface of an
eye, facilitating detailed mapping of “high-order aberrations”, which accordingly programs the laser
to provide flawless vision correction.
The number of laser vision correction surgeries, a category including LASIK and the PRK
procedure, has dropped more than 50% from 2007 to 2016. The reasons vary case to case, right
from post-surgical complications to economic barriers. In the U.S., the average cost of LASIK is
between US$ 1500 and US$ 3000 per eye, depending on the type of procedure, parts of the country,
and surgeon.
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Globally, the LASIK market can be segmented as follows:
By type of technology used: Wavefront guided LASIK surgery, wavefront optimized LASIK
surgery, topography guided LASIK surgery, and bladeless LASIK surgery
The topography guided LASIK system is anticipated to witness significant growth in the next few
years. Less side effects associated, painless procedure, speed, and regulatory approval of key
instruments are the factors driving the segment.
By end-user: Ophthalmology clinics, hospitals, and ambulatory surgical centers
By geography: North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
Increasing economic standards, rise in awareness levels, and market players targeting unmet clinical
needs pertaining to vision correction are expected to boost market growth in India and China.
Abbott’s iDesign Advanced WaveScan Studio produces high resolution scan of an eye surface,
taking more than 1200 micro readings in three seconds. The technology is USFDA-approved and
provides a clearer blueprint of an eye. The WaveScan CustomVue System is also trending in the
market. It is a diagnostic device that detects the wavefront aberrations on eye s urface using
Hartmann-Shack wavefront sensor. The major FDA-approved wavefront guided systems include
WaveScan System CustomVue LASIK (Abbott Medical Optics), iDesign Advanced CustomVue
LASIK System (Abbott Medical Optics), and Technolas 217z Zyoptix System for Personalized
Vision Correction (Bausch + Lomb).
PRK (photorefractive keratectomy) uses an excimer laser in the same way as LASIK surgery, and
patients' vision correction results are similar. PRK recovery takes a little longer than LASIK
process. However, PRK is more commonly performed and offers many advantages over LASIK for
some patients.
Geographically, customized LASIK surgery is gaining preference in North America and holds the
largest share in the market. Rising demand for custom LASIK surgery makes Europe one of the
largest markets. Topography guided LASIK surgery is identified as the fastest growing segment
globally. The LASIK surgery market in Asia Pacific is expected to witness strong growth due to
factors such as increasing awareness level and rising income capacities.
Major players in the LASIK surgery market are Alcon Laboratories, Inc., Abbott Medical Optics,
Inc., Carl Zeiss, Inc., Bausch + Lomb, and Nidek, Inc. Abbott Medical Optics holds the largest
market share. Key players in the global personalized LASIK surgery market are following business
strategies such as partnerships, mergers & acquisitions, associations, joint ventures, collaborations,
and strategic alliances to establish market position, increase market share, drive profit margins, gain
competitive advantage over business rivals, increase market penetration, and expand their business
globally.
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