The market for laser vision correction is anticipated to increase as a result of an increasing number of product releases and approvals. When treating several refractive problems like myopia, hyperopia, astigmatism, and others, laser vision correction is an efficient way to improve eyesight. Players in the market are concentrating on new launches, winning approval for laser vision correction devices, and improving their product lines in prospective areas. For instance, the American Academy of Ophthalmology (AAO) annual meeting in Las Vegas, United States, in November 2015 saw the introduction of Contoura Vision, the first individualized LASIK surgery, by Alcon, a Novartis business. Based on the corneal topography of each eye, Contoura Vision is a topography-guided LASIK process that enables surgeons or medical professionals to execute individualized laser operations on patients with nearsightedness and astigmatism. Additionally, Bausch Health offers to donate ARTELAC Splash eye drops to regional hospitals throughout Spain. Additionally, in October 2018, Alcon unveiled the cutting-edge WaveLight Refractive Suite, which works with Contoura Vision to help specialists and surgeons identify abnormalities or flaws in eyes.
The Coherent Market Insights estimates that during the projected period (2020-2027), the Laser Vision Correction Market is anticipated to grow at a CAGR of 7.9%, reaching an estimated market value of US$ 5,201.3 million in 2020.
Top Companies in the Laser Vision Correction Industry:
Johnson and Johnson
The company was started in 1886 and has its main office in New Brunswick, New Jersey, U.S. The business creates medications, consumer packaged goods, and medical equipment. Johnson & Johnson declared in November 2022 that it will pay $16.6 billion to buy Abiomed Inc. On December 22, the deal became final. Johnson & Johnson paid $6.5 billion to acquire Momenta Pharmaceuticals in November 2020.
Alcon Laboratories, Inc.
The business was established in 1945, and Geneva, Switzerland serves as its corporate headquarters. The company produces and markets products for cataract and vitreoretinal surgery, contact lenses, and refractive technology.Alcon declared in November 2021 that it will pay at least $475 million to acquire Ivantis and its glaucoma surgical stent technology. Alcon made the decision to acquire Aerie Pharmaceuticals in August 2022 for US$770 million in order to broaden its selection of ophthalmic drugs.