Global Custom LASIK Surgery Market, By Procedure (Wavefront Guided, Wavefront Optimized, Topography), Therapeutic Applications (Myopia, Hyperopia, Astigmatism, Others), and Geography - Trends, Analysis and Forecast till 2024

  • Published On : Jan 2017 |
  • Pages : 175 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Custom LASIK Surgery – Alternative to Eyewear

LASIK surgery is a highly effective method to correct vision and is especially useful in treatment of various refractive disorders such as myopia, hyperopia, and astigmatism. In the U.S. alone, over 34 million patients are suffering from myopia according to the American Academy of Ophthalmology 2016 estimates. Moreover, around 150 million people in the U.S. wear corrective eyeglasses. Custom LASIK surgery market revenue is expected to witness upward trajectory growth, owing to increase in demand for effective therapeutic treatment for disorders related to the eyes.

Introduction of technologically advanced products and long-term partnership of leading players with regional hospitals are key trends observed in the custom LASIK surgery market. There are over 1,050 LASIK centers catering to around 650,000 patients annually in the U.S. Companies such as Abbott Medical Optics and Alcon offer wavefront guided LASIK products. Government institutes in developed regions are supporting custom LASIK surgery procedure. As a result of this, several programs such as BlueCross Blue Shield QualSight program have been launched to offer support to product development and subsidies on the LASIK surgery.

The global custom LASIK surgery market size was valued at US$ 1,537.6 million in 2016 and is expected to expand at a CAGR of 9.7% during 2016 – 2024.

Figure 1. Global Custom LASIK Surgery Market Size and Forecast, US$ Million and Y-o-Y Growth (%)

Custom Lasik Surgery Market | Coherent Market Insights

Source: Coherent Market Insights Analysis (2017)

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Wavefront guided has emerged as the highest revenue contributor among procedure segments

Wavefront guided procedure segment is expected to dominate the custom LASIK surgery market procedure throughout the forecast period. The segment has been estimated to account for 45.8% share of the global custom LASIK surgery market revenue in 2016. This procedure involves detailed wavefront generated measurements of light traversing through the eyes. The procedure helps in offering personalized treatment to patients based on the unique anatomy of the patient’s eye. It is highly precise and more specific compared to conventional LASIK surgery.

WaveScan System CustomVue LASIK (Abbott Medical Optics), Technolas 217z Zyoptix System for Personalized Vision Correction (Bausch + Lomb) and iDesign Advanced CustomVue LASIK System (Abbott Medical Optics) are some of the FDA-approved wavefront guided custom LASIK systems. 

WaveLight Allegretto Wave Eye-Q Excimer Laser System (Alcon) is a FDA approved wavefront-optimized LASIK systems.

Topography-guided LASIK systems have gained significant traction in the last few years. Contoura Vision with the WaveLight Allegretto Wave Eye-Q Excimer Laser System is one such example of FDA approved topography-guided LASIK system.

Rapid increase in demand for custom LASIK surgery procedure in the emerging economies to boost market growth

North America, followed by Europe accounted for major share of global custom LASIK surgery market revenue in 2016. These two regions are together estimated to account for 65.1% of overall market revenue. However, the market for LASIK surgery procedure in Asia Pacific is projected to surpass that in in Europe by 2019.  The primary factor for market growth in Asia Pacific is increased installations of LASIK systems in eye-care facilities in Japan. Japan is projected to account for 51% share of the custom Asia Pacific LASIK surgery market in 2017. Increasing patient awareness, high disposable income and improvement in the healthcare infrastructure has resulted in rise in number of LASIK surgeries and in turn, is resulting in growth of the custom LASIK surgery market in the country.

Multinational players need to tap into potential addressable market in emerging economies

Product portfolio expansion and partnerships with local players are key custom LASIK surgery market trends, which are expected to shape the industry in the near future.  Moreover, companies are focusing on receiving regulatory approval for their products to differentiate their product offerings. For instance, Abbott received FDA approval for iDesign Advanced WaveScan Studio in 2015. Major players 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.

Custom LASIK surgery market has grown manifold over the last decade. Increasing demand for minimally invasive therapy along with rise in prevalence rate of refractive disorders has boosted overall demand for LASIK surgery procedure in recent years. Most of the LASIK surgery procedure has been carried out for treatment of patients suffering from myopia.  The ophthalmic industry has huge un-met potential. Expected commercialization of FDA-approved LASIK surgery systems is expected to fuel overall custom LASIK surgery market growth during the forecast period (2016–2024).

Market Dynamics

Changing lifestyle patterns has in turn led to weakening immunity and has inadvertently increased susceptibility to various health problems worldwide. The global chronic disease incidence rate has increased significantly over the last two decades. Eye related diseases have also increased in the recent past. Over 150 million people in the U.S. wear corrective eye wear according to the American Academy of Ophthalmology 2016 statistics. Myopia is the widely prevalent eye-disorder and its prevalence rate is highest in Japan. High demand for effective treatment approach has led to increased demand for custom LASIK surgery procedure worldwide.

Companies engaged in custom LASIK surgery market are expected to generate significant return on investment (ROI) over the forecast period. The technology has clear added advantage over the conventional approach. While conventional eye exams detects only two corneal abnormalities (spherical and cylindrical), wavefront-guided LASIK system detects infinite number of abnormalities. Moreover, only 1-3% of patients experience LASIK eye surgery complications, making it a highly preferred technique for eye surgeries in the present scenario.

Market Taxonomy

This report segments the custom LASIK surgery market on the basis of procedure, application, and end user. On the basis of procedure, the market is segmented as topography-guided LASIK procedure, Wavefront guided and wavefront optimized. On the basis of therapeutic applications, the custom LASIK surgery market is segmented as myopia, hyperopia, astigmatism, and others.

Key features of the study:

  • This report provides in-depth analysis of the custom LASIK surgery market and provides market size (US$ million) and Cumulative Annual Growth Rate (CAGR) (%) for the forecast period (2016 – 2024), considering 2015 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides valuable insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • The report takes into account critical limiting factors such as accuracy issues and need for calibrating the device several times a day while analyzing the market value and growth (%) during the forecast period
  • It includes insights on high prevalence of refractive disorders, increasing demand for LASIK surgery across the globe
  • It profiles leading players in the global custom LASIK surgery market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and 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 the management authorities of the companies to make informed decisions with respect to their future product launch, technology upgrade, market expansion, and marketing tactics
  • The global custom LASIK surgery market report caters to various stakeholders in this industry, including investors, raw material manufacturer, contract manufacturer, device manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would greatly benefit in decision making through the 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 Geography:
    • North America
      • U.S.
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • Canada
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
    • Europe
      • UK
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • Germany
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • Italy
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • France
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • Russia
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • Rest of Europe
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
    • Asia-Pacific
      • China
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • India
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • Japan
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • ASEAN
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • Australia
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • South Korea
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • Rest of Asia Pacific
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
    • Latin America
      • Brazil
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • Mexico
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • Rest of Latin America
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
    • Middle East
      • GCC
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • Israel
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
    • Africa
      • North Africa
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • Central Africa
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
      • South Africa
        • By Procedure
          • Wavefront Guided
          • Wavefront Optimized
          • Topography
        • By Therapeutic Application
          • Myopia
          • Hyperopia
          • Astigmatism
          • Others
  • Company Profiles
    • Alcon Laboratories*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • 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 Objective and assumption
    • 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
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Epidemiology/Prevalence/Incidence
      • Merger and Acquisitions
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
    • Cost Tier Down Analysis
  4. Global Custom LASIK Surgery Market, By Procedure, 2014 - 2024 (USD Million)
    • Introduction
      • Market Share Analysis, 2015 and 2024 (%)
      • Y-O-Y Growth Analysis, 2014 - 2024
      • Segment Trends
    • Wavefront Guided
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2014 - 2024, (USD Million)
    • Wavefront Optimized
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2014 - 2024, (USD Million)
    • Topography
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2014 - 2024, (USD Million)
  5. Global Custom LASIK Surgery Market, By Therapeutic Applications, 2014 - 2024 (USD Million)
    • Introduction
      • Market Share Analysis, 2015 and 2024 (%)
      • Y-O-Y Growth Analysis, 2014 - 2024
      • Segment Trends
    • Myopia
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2014 - 2024, (USD Million)
    • Hyperopia
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2014 - 2024, (USD Million)
    • Astigmatism
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2014 - 2024, (USD Million)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2014 - 2024, (USD Million)
  6. Global Custom LASIK Surgery Market, By Regions, 2014 - 2024 (USD Million)
    • Introduction
      • Market Share Analysis, By Region, 2015 and 2024 (%)
      • Y-O-Y Growth Analysis, For Regions, 2014 - 2024
    • North America
      • Market Share Analysis, By Country, 2015 and 2024 (%)
      • Y-O-Y Growth Analysis, By Country, 2014 - 2024
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
    • Europe
      • Market Share Analysis, By Country, 2015 and 2024 (%)
      • Y-O-Y Growth Analysis, By Country, 2014 - 2024
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • France
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
    • Asia Pacific
      • Market Share Analysis, By Country, 2015 and 2024 (%)
      • Y-O-Y Growth Analysis, By Country, 2014 - 2024
        • China
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • India
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
    • Latin America
      • Market Share Analysis, By Country, 2015 and 2024 (%)
      • Y-O-Y Growth Analysis, By Country, 2014 - 2024
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
          •  
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
    • Middle East
      • Market Share Analysis, By Country, 2015 and 2024 (%)
      • Y-O-Y Growth Analysis, By Country, 2014 - 2024
        • GCC Countries
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • Israel
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • Rest of Middle East
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
    • Africa
      • Market Share Analysis, By Country, 2015 and 2024 (%)
      • Y-O-Y Growth Analysis, By Country, 2014 - 2024
        • Northern Africa
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • Central Africa
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
        • South Africa
          • Country Trends
          • Market Size and Forecast, By Procedure, 2014 - 2024 (USD Million)
          • Market Size and Forecast, By Therapeutic Applications, 2014 - 2024 (USD Million)
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis
    • Company Profiles
      • Alcon Laboratories
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Abbott Medical Optics
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Carl Zeiss, Inc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Bausch & Lomb
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Nidek, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Technolas Perfect vision GmbH   
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
        •  
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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