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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Custom LASIK Surgery Market – Alternative to Eyewear

LASIK surgery is an effective method to correct vision and is used in the treatment of various refractive disorders such as myopia, hyperopia, and astigmatism.

The global custom LASIK surgery market was valued at US$ 1,837.9 million in 2018, and is expected to exhibit a CAGR of 9.6% over the forecast period (2019-2027).

Figure 1. Global Custom LASIK Surgery Market Value (US$ Mn), by Region, 2018

Custom LASIK Surgery  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2020)

Increasing incidence of refractive disorders is expected to propel growth of the global custom LASIK market

Increasing incidence of refractive disorders coupled with high demand for eye laser treatment is expected to drive growth of the custom LASIK surgery market over the forecast period. For instance, according to the American Academy of Ophthalmology, 2016, around 23% of the U.S. population aged above 40 years suffered from myopia.

Market players are focused on launches and approval of LASIK procedures to enhance their offerings in potential markets. For instance, in November 2015, Alcon, a division of Novartis introduced Contoura Vision, the first personalized LASIK procedure at the American Academy of Ophthalmology (AAO) Annual Meeting held at Las Vegas, U.S. Contoura Vision is a topography-guided LASIK treatment developed to help surgeons or healthcare professionals perform personalized laser procedures for patients with nearsightedness with astigmatism based on the corneal topography of each eye.

Moreover, key players in the market are focusing on investments in research and development of custom LASIK technology. Several market players are actively investing in development and launch of advanced wavefront guided LASIK technology for individual treatment. For instance, in June 2013, Bausch & Lomb Incorporated received the Health Canada Medical Device License (MDL) for VICTUS Femtosecond Laser Platform that is used in creation of a corneal flap in patients undergoing LASIK surgery.

However, costly treatment procedures and technical complexity are the major factors which are expected to hamper the market growth. Moreover, these procedures might damage the vision permanently. For instance, according to the American Refractive Surgery Council, advanced LASIK procedures for Astigmatism can cost around US$ 4,500.

Figure 2. Global Custom LASIK Surgery Market Share (%), by Therapeutic Applications, 2019 and 2027

Custom LASIK Surgery  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2020)

Increasing incidence of myopia in North America is expected to boost the market growth

North America is expected to hold a dominant position in the global custom LASIK surgery market over the forecast period owing to increasing demand for effective therapeutic treatment for disorders related to the eyes, which is expected to drive demand for LASIK surgery over the forecast period. For instance, according to the American Academy of Ophthalmology 2016, around 34 million people suffered from myopia in the U.S. Moreover, around 150 million people in the U.S. wear corrective eyeglasses.

Rising product approvals are expected to drive the market growth over the forecast period. For instance, in July 2015, Abbott received the U.S. Food and Drug Administration (FDA) approval for iDesign Advanced WaveScan Studio System. The system generates high definition scan which measures and recognizes the problem in the eye.

Asia Pacific is also expected to witness significant growth in the custom LASIK surgery market due to increasing number of installations of LASIK systems in eye-care facilities in Japan. Moreover, increasing patient awareness about LASIK procedures, high disposable income, and improvement in the healthcare infrastructure has led to a higher number of LASIK surgeries.

Key Players

Major players operating in the global custom LASIK surgery market include Alcon Laboratories, Inc., Bausch & Lomb, Carl Zeiss, Inc., Abbott Medical Optics, Nidek, Inc., and Technolas Perfect Vision GmbH.

The LASIK surgery procedure is carried out for treatment of patients suffering from myopia. Increasing demand for minimally invasive therapies, along with rising prevalence of refractive disorders are expected to boost demand for LASIK surgery procedures over the forecast period. Commercialization of approved LASIK surgery systems is expected to fuel custom LASIK surgery market growth during the forecast period.

Market Dynamics

Changing lifestyle patterns have led to weakening immunity and an increasing susceptibility to various health problems. Eye related diseases have increased in the recent past. For instance, according to the American Academy of Ophthalmology’s 2016 statistics, over 150 million people in the U.S. wear corrective eye wear. Increasing demand for effective treatments is expected to drive demand for custom LASIK procedures.

Rising adoption of merger and acquisition strategies by market players is expected to drive the market growth over the forecast period. For instance, in October 2019, SightMD announced the partnership with Westchester Eye Associates. The partnership is expected to help SightMD expand its presence in the Westchester County, U.S. Moreover, the collaboration has helped Westchester Eye Associates expand the company’s offerings in the areas of cataract, glaucoma, LASIK, oculoplastic and pediatric care.

Key players in the market are focused on product approvals and launches to enhance their portfolio, which is expected to propel the market growth over the forecast period. For instance, in June 2018, Johnson & Johnson Vision, received the U.S. Food and Drug Administration (FDA) approval for iDESIGN Refractive Studio a system, which allows the surgeon to take precise measurement of the inner part of the eye for delivering customized LASIK procedure to patients

Key features of the study:

  • This report provides in-depth analysis of the custom LASIK surgery market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the global custom LASIK surgery market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include Abbott Medical Optics, Alcon Laboratories, Inc., Carl Zeiss, Inc., Bausch & Lomb, Nidek, Inc., and Technolas Perfect Vision GmbH.
  • Insights from this report would allow marketers and management authorities of the companies to make informed decisions regarding future product launches, technology upgradation, market expansion, and marketing tactics.
  • The global custom LASIK surgery market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the custom LASIK surgery market

Detailed Segmentation:

  • Global Custom LASIK Surgery Market, By Procedure:
    • Wavefront Guided
    • Wavefront Optimized
    • Topography
  • Global Custom LASIK Surgery Market, By Therapeutic Applications:
    • Myopia
    • Hyperopia
    • Astigmatism
    • Others 
  • Global Custom LASIK Surgery Market, By Region:
    • North America
      • By Procedure:
        • Wavefront Guided
        • Wavefront Optimized
        • Topography
      • By Therapeutic Applications:
        • Myopia
        • Hyperopia
        • Astigmatism 
        • Others
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Procedure:
        • Wavefront Guided
        • Wavefront Optimized
        • Topography
      • By Therapeutic Applications:
        • Myopia
        • Hyperopia
        • Astigmatism 
        • Others
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Procedure:
        • Wavefront Guided
        • Wavefront Optimized
        • Topography
      • By Therapeutic Applications:
        • Myopia
        • Hyperopia
        • Astigmatism 
        • Others
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Procedure:
        • Wavefront Guided
        • Wavefront Optimized
        • Topography
      • By Therapeutic Applications:
        • Myopia
        • Hyperopia
        • Astigmatism 
        • Others
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Procedure:
        • Wavefront Guided
        • Wavefront Optimized
        • Topography
      • By Therapeutic Applications:
        • Myopia
        • Hyperopia
        • Astigmatism 
        • Others
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Procedure:
        • Wavefront Guided
        • Wavefront Optimized
        • Topography
      • By Therapeutic Applications:
        • Myopia
        • Hyperopia
        • Astigmatism 
        • Others
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Alcon Laboratories, Inc. *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Highlights
      • Market Strategies
    • Abbott Medical Optics
    • Carl Zeiss, Inc.
    • Bausch & Lomb
    • Nidek, Inc.
    • Technolas Perfect Vision GmbH

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Procedure
      • Market Snippet, By Therapeutic Applications
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Market trends
    • Reimbursement Scenario
    • Epidemiology
    • Pest Analysis
    • Regulatory Scenario
    • Collaborations and Agreements
  4. Global Custom LASIK Surgery Market, By Procedure, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Wavefront Guided
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Wavefront Optimized
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Topography
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. Global Custom LASIK Surgery Market, By Therapeutic Applications, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Myopia
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Hyperopia
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Astigmatism
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global Custom LASIK Surgery Market, By Region, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Therapeutic Applications, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Therapeutic Applications, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Therapeutic Applications, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Therapeutic Applications, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of APAC
    • Middle East
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Therapeutic Applications, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Therapeutic Applications, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country/Region, 2016 – 2027, (US$ Mn)
        • South Africa
        • Central Africa
        • North Africa
  7. Competitive Landscape
    • Heat Map Analysis
    • Company Profiles
      •  Alcon Laboratories, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Abbott Medical Optics
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Carl Zeiss, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Bausch & Lomb
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Nidek, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Technolas Perfect Vision GmbH
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 29 market data tables and 22 figures on "Custom LASIK Surgery Market - Global forecast to 2027”.

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