LASIK Eye Surgery Market Revenue, Growth, Constraints, Trends, Analysis and Forecast to 2027
Market Research Future (MRFR) assessed the LASIK eye surgery market 2021 in the analysis period to 2022. According to the MRFR study, the global LASIK eye surgery market is predicted to grow at a CAGR of 6.5% during the assessment period (2017 to 2022). By 2022, the global LASIK eye surgeries market is expected to generate high revenue.
Market drivers and restraints
Rising demand for In Situ Keratomileusis (LASIK) laser-assisted surgeries to treat myopia, astigmatism, and farsightedness, among other visual impairments, owing to their high precision, is expected to drive the expansion of the market. People are inclined to enhance their aesthetic appeal and often want to eliminate stain uses. The growing popularity of corrective eye surgery through technologically advanced instruments may contribute to the expansion of the market which may favor the LASIK eye surgeries market during the considered period. Other causes such as availability of expertise and presence of affordable healthcare setup are expected to drive the rise of the market in the coming years. The availability of customized solutions can benefit the market in the years to come.
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Additionally, the financial support from governments around the world for effective research and development to improve the product line is likely to fuel the LASIK eye surgery market in the coming years. The increase in the price of treatment may hamper the expansion of the market. However, the precision of LASIK surgery and their increasing success rate are forces that are likely to counter the rising market.
The global LASIK eye surgery market segment study is based on end user, types and vision error.
The type-based segments of the LASIK eye surgery market are wavefront-guided, wavefront-optimized, topography-guided, and all-laser.
LASIK eye surgery market segments based on vision errors include astigmatism, myopia, and hyperopia, among others. The myopia segment studied nocturnal, simple, induced or acquired, degenerative myopia and pseudomyopia among others. The hyperopia segment is sub-segmented into physiological hyperopia and pathological hyperopia, among others. The astigmatism studies segment mixed among others astigmatism, myopic astigmatism, hyperopia and astigmatism.
The end-user based segments of the LASIK eye surgery market include LASIK centers, hospitals, and eye care clinics, among others.
In North America, LASIK eye surgery market is expected to grow at a high CAGR by 2022. The availability of well-developed technology and its early adoption by several healthcare institutions can sustain the growth of the market in the near future . The presence of a large pool of visually impaired patients in the region and the need to increase the facilities for the care of visually impaired people can contribute to the expansion of the market. Rising healthcare expenditures and growing government support for research and development to fund R&D activities are other causes that are expected to fuel the growth of the market.
In Europe, the LASIK eye surgery market is expected to generate decent revenues thanks to government support for research and development of innovations. The availability of a strong R&D base in the region is expected to impact the European LASIK eye surgery market in the near future. Germany and France are identified as the top healthcare investments in the region that are expected to bring long-term benefits to the market.
In Asia-Pacific, the LASIK eye surgery market is considered a fast growing market. Rapid development of healthcare technologies and soaring healthcare expenditures as an increase in patient population is observed may favor the APAC market in the near future. The surge in demand for the latest and effective treatment methods in countries such as; China and India are expected to generate decent incomes by 2022.
In the Middle East & Africa region, the LASIK eye surgery market is likely to grow at a moderate growth rate due to limited disease knowledge, and lack of expertise in treatment management may promote the market growth in the coming years. However, investment by some leading companies in the region to improve healthcare infrastructure is expected to benefit the market in the coming years.
Key market players
LaserSight Technologies, Inc. (USA), Abbott Inc. (USA), Nidek Inc. (Japan), Alcon Laboratories Inc. (USA), Bausch & Lomb Incorporated (USA), AMO Manufacturing USA, LLC (USA) and Carl Zeiss, Inc. (Germany) are prominent companies operating in the global LASIK eye surgery market.
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