Global Personalized LASIK Surgery Market: Snapshot
With LASIK surgeries increasingly gaining a repute of being an advanced and highly effective treatment for vision related disorders, primarily myopia, hyperopia, astigmatism, and presbyopia, the global market for personalized LASIK surgery is demonstrating high growth in its size and valuation. In 2015, the market stood at US$1.6 bn in revenues. Increasing at a CAGR of 5.60% between 2016 and 2024, the market’s opportunity is anticipated to reach US$2.6 bn by the end of 2024. The rise in the prevalence of ocular disorders and diseases, increasing risk of infection caused by the continual usage of contact lens, and the emergence of novel ophthalmic technologies are likely to boost this market substantially over the forthcoming years.
North America to Lead Global Personalized LASIK Surgery Market
On the geographical front, the worldwide market for personalized LASIK surgery has been segmented into Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. In 2015, with a share of 45%, North America acquired the leading position in the global market. The persistent rise in the geriatric population, increasing cases of myopia, and the surging level of awareness among people about the treatment of myopia through laser technique have been driving the market for personalized LASIK surgery in North America since the last few years. Analysts project this regional market to retain its position in the near future, thanks to the advent of new technologies, rise in the prevalence of ocular disorders and diseases, and the augmenting usage of LASIK surgeries in the corrective treatments for vision by ophthalmologists in North America.
Europe is the second-most prominent market for personalized LASIK surgery across the world and is expected to continue like this over the next few years. The increasing prevalence of myopia and presbyopia in European citizens, growing demand for minimally invasive surgeries, and the availability of favorable reimbursement policies are anticipated to propel the Europe personalized LASIK surgery market in the years to come.
Among others, Asia Pacific is expected to exhibit a considerable rise in its market for personalized LASIK surgery in the near future. The growing base of the geriatric population, increasing incidence of myopia and presbyopia, and surging investments from market participants to set up a robust distribution channel can be attributed for this progress in the Asia Pacific market for personalized LASIK surgery. The upswing in the medical tourism and the availability of low cost treatment are also projected to stimulate the Asia Pacific market for LASIK surgery over the coming years.
Hospitals to Surface as Key Contributor to Global Personalized LASIK Surgery Market
Hospitals, ophthalmic clinics, and ambulatory surgical centers are the main end users of personalized LASIK surgeries across the world. The hospital segment contributed a higher revenue in the global market for personalized LASIK surgeries in 2015 and is expected to remain doing so throughout the next few years. The escalating investments by some of the key market players for the development of effective distribution network with hospitals and the creation of novel surgical platforms, in a bid to meet the needs and demands of patients are likely to increase the contribution of the hospital segment in the overall revenue generated in this market over the years to come.
Alcon Laboratories Inc., Abbott Laboratories Inc., Bausch & Lomb Surgical Inc., Carl Zeiss Inc., Nidek Co. Ltd., Lasersight Technologies Inc., SUPREME ILASIK Co. Ltd., and Ziemer Ophthalmic Systems AG are some of the key players in the global personalized LASIK surgery market.
Global Personalized LASIK Surgery Market: Overview
The report on the personalized LASIK surgery market analyzes the current and future scenario of the global market. Increase in prevalence of vision related disorder such as myopia, astigmatism and hyperopia, advent of new technology for LASIK treatment, increase in preference for minimally invasive treatment by patients and eye surgeons, and high incidence of age related presbyopia, are the major drivers of the global personalized LASIK surgery market.
The personalized LASIK surgery market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on technology, disease indication, end users and geography. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the market overview section.
In addition, the section comprises Porters Five Forces Analysis to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis, by geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global personalized LASIK surgery market.
Global Personalized LASIK Surgery Market: Segmentation
Based on technology, the personalized LASIK surgery market is segmented as wave front LASIK, topography-guided LASIK, bladeless LASIK, presby LASIK, and others. Wavefront Lasik is further segmented into wavefront guided LASIK and wavefront optimized LASIK. The technology market segments have been analyzed based on available approved technology and systems, cost-effectiveness, and preference for technologies by ophthalmologist and patients. The market size and forecast for each of these segments have been provided for the period from 2014 to 2024, along with their respective CAGRs for the forecast period from 2016 to 2024, considering 2015 as the base year.
Based on disease indication, LASIK surgery market is segmented into myopia, hyperopia, astigmatism and presbyopia. The personalized LASIK surgery market has been segmented into four major categories on the basis of end users: hospitals, ophthalmic clinics, ambulatory surgical centers, and others. The market segments have been extensively analyzed based on prevalence of the diseases, available treatment, and geographical coverage. The market size and forecast in terms of US$ Mn for each segment have been provided for the period from 2014 to 2024. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2016 to 2024, considering 2015 as the base year.
Geographically, the global personalized LASIK surgery market has been categorized into five major regions and the key countries in the respective region: North America (the U.S., Canada), Europe (the U.K., Germany, Russia, France, Spain, Italy, and Rest of Europe), Asia Pacific (Japan, India, China, Australia & New Zealand and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Middle East & Africa (South Africa, GCC countries and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2014 to 2024, along with their respective CAGRs for the forecast period from 2016 to 2024, considering 2015 as the base year. The research study also covers the competitive scenario in these regions.
Companies Mentioned in the Report
The report also profiles major players in the global personalized LASIK surgery market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players profiled in this report include Alcon Laboratories, Inc, Abbott Laboratories Inc., Bausch & Lomb Surgical, Inc., Carl Zeiss, Inc., Nidek Co. Ltd., Lasersight Technologies, Inc., SUPREME ILASIK COMPANY LIMITED., Ziemer Ophthalmic Systems AG (Ziemer Group Company) and others.
The global ophthalmic ultrasound device market has been segmented as follows:
- Wave front LASIK
- Wavefront Guided LASIK
- Wavefront Optimized LASIK
- Topography-Guided LASIK
- Bladeless LASIK
- Presby LASIK
By Disease Indication
By End User
- Ophthalmic clinics
- Ambulatory Surgical Centers
- North America
- Rest of Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC countries
- South Africa
- Rest of Middle East & Africa