LASIK eye surgery market size worth USD 3400 million by
New York, U.S., Oct. 10, 2022 (GLOBE NEWSWIRE) — LASIK eye surgery market Insight:
According to a comprehensive research report by Market Research Future (MRFR), “LASIK eye surgery market Information by Type, Vision Error, End Users – Forecast to 2030”, the market is expected to reach USD 3,400 million at a CAGR of 5.60% during the forecast period 2022-2030.
Laser-assisted in situ keratomileusis (LASIK) is a surgical procedure used to treat nearsightedness, farsightedness, and astigmatism. LASIK surgery is becoming more and more common as a means of correcting vision problems, as it provides a permanent option for relying on contacts or glasses for life. The curvature of the corneal surface is molded or modified during this refractive surgery procedure.
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|Market size in 2030||3400 million dollars|
|Year of reference||2021|
|Forecast units||Value (USD billion)|
|Report cover||Revenue forecasts, competitive landscape, growth factors and trends|
|Segments Covered||By type, vision error and end users|
|Geographical areas covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Market Drivers||Increasing prevalence of ophthalmic disorders|
|Growing demand for minimally invasive surgical procedures|
Market leaders employ strategies such as new product launches, mergers and acquisitions, contracts, and collaborations. With these methods, not only would the regulation of the LASIK eye surgery market be sustained, but consumer satisfaction would also increase.
The main market players are:
- Abbott Inc. (USA)
- Alcon Laboratories Inc. (USA)
- AMO Manufacturing USA, LLC (United States)
- Bausch & Lomb Incorporated (USA)
- Carl Zeiss, Inc. (Germany)
- LaserSight Technologies, Inc (USA)
- Nidek Inc. (Japan)
According to recent studies, interest in this type of advanced laser eye surgery is booming. The LASIK laser eye surgery business is expected to continue its astonishing expansion year on year as record numbers of people choose to have the surgery. The demand for LASIK surgery to correct vision problems is growing rapidly. Myopia, hyperopia and astigmatism are corrected by refractive surgery, and laser-assisted in situ keratomileusis is the most common type (LASIK). Around the world, the prevalence of eye problems is increasing at a staggering rate. The company’s growth is also favored by public spending on R&D.
The LASIK surgery industry is set to grow 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 from eye procedures can be a barrier in the LASIK surgery market.
The growth of the LASIK eye surgery industry can be attributed to several factors, including the increasing prevalence of ophthalmic disorders, growing demand for minimally invasive surgical procedures, proliferation of LASIK-compatible eye care clinics, growing awareness of the public to the benefits of the procedure, technological advances, and increased government support.
The high cost of healthcare might retard the growth of the market throughout the forecast horizon. In addition to the rising price of ophthalmic devices, the inherent risks of eye treatments are a major drag on the growth potential of the LASIK eye surgery market in the coming years.
Browse the 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 has had far-reaching effects on healthcare facilities and procedures. COVID-19 has also had a ripple effect on ophthalmic procedures. Ophthalmic procedures are very problematic during a pandemic because they can spread the virus and cause discomfort.
The demand for LASIK operations in general has been reduced during the pandemic due to the spread of COVID-19. The market is expected to witness a significant increase in demand over the forecast period owing to the advent of numerous medical industries and practices.
LASIK eye surgery market Segmentation:
In 2021, the optimized wavefront market share was highest, and it is expected to remain at this level throughout the forecast period. This market expansion can be attributed to improvements in areas such as visual acuity, higher order aberrations (HOA), and predictability. The same goes 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 driver for the expansion of the sector.
By error of vision
The market share held by the myopia segment in 2021 is the largest and is expected to remain at this level throughout the forecast period. There are more people, and more people become nearsighted as they age, so that explains the increase in the segment.
Per end user
In 2021, the eye clinic market is expected to grow at the fastest rate, and this trend is expected to continue throughout the forecast period. The expansion of this market sector can be attributed to the proliferation of specialty eye care clinics around the world.
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LASIK eye surgery market Regional analysis:
The LASIK eye surgery market is the largest in the Americas due to the region’s advanced technology, growing population of visually impaired people, high healthcare costs, and increased government support for R&D. The increase in research and development and the concentration of large companies in this sector have also contributed to the growth of the market. Major players in this industry are focusing their attention on developing countries like India and China.
Europe is the world’s second largest market for LASIK eye surgery due to public investment in R&D and access to research funding. This is expected to remain a key factor in the growth of the European market in the near future. The health budgets of several developed countries, including Germany and France, are increasing.
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The LASIK eye surgery market in Asia-Pacific is growing twice as fast as any other region due to the rapid development of healthcare technologies, large patient population and high healthcare expenditures. Also, countries like India and China where the demand for innovative treatment methods is increasing is expected to become the fastest growing market in the world. However, the Middle East and Africa accounts 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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