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.

The LASIK surgery procedure is carried out for treatment of patients suffering from myopia. Factors such as the increasing demand for minimally invasive therapies and the rising prevalence of refractive disorders are expected to boost demand for Laser Vision Correction procedures during the forecast period. Commercialization of approved LASIK surgery systems is expected to fuel market growth during the forecast period.

Moreover, key players in the market are focusing on investments in research and development of custom LASIK technology. They are actively investing in acquiring license for commercialization of advanced wavefront guided LASIK technology for 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.

Global Laser Vision Correction Market - Impact of Coronavirus (Covid-19) Pandemic

The laser vision correction market study is a well-researched report encompassing a detailed analysis of this industry with respect to certain parameters such as the product capacity as well as the overall market remuneration. According to the World Health Organization Coronavirus Disease (COVID-19) Dashboard (WHO) report, the manifestation of the coronavirus disease (COVID-19) has resulted in more than 7 million infected individuals worldwide as of June 2020.

Due to the lockdown, several countries such as Italy, Spain, U.K., the U.S., India, and others are facing problems regarding the transportation of laser vision correction devices from one place to another. Upcoming LASIK surgeries are delayed due to nationwide lockdowns as LASIK surgeries are classified as cosmetic procedures in many countries.

The WHO has encouraged ophthalmic centers to take safety and responsible measures in order to reduce the spread of coronavirus. For instance, limiting the number of people in one area at a time, modifying workstation arrangements, and minimizing the cross flow of people between shifts to reduce potential exposure, along with enhanced cleaning and sanitization of facilities.

The Laser Vision Correction Market is estimated to be valued at US$ 5,201.3 million in 2020 and is expected to exhibit a CAGR of 7.9% during the forecast period (2020-2027).

Figure 1: Global Laser Vision Correction Market Share (%) Analysis, By Type, 2020

Laser Vision Correction  | Coherent Market Insights

Increasing number of product launches and approvals are expected to drive the growth of the laser vision correction market.

Laser vision correction is an effective method to correct the vision and is used for the treatment of various refractive disorders such as myopia, hyperopia, astigmatism, and others.

Market players are focused on product launches, obtaining approvals for laser vision correction devices, and enhancing 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’s (AAO) annual meeting in Las Vegas, U.S. Contoura Vision is a topography-guided LASIK treatment developed to help surgeons or healthcare professionals perform personalized laser procedures on patients with nearsightedness and astigmatism based on the corneal topography of each eye.

Furthermore, Bausch Health is also making available for donation of ARTELAC Splash eye drops for local hospitals (Spain). Moreover, in October 2018, Alcon introduced the advanced WaveLight Refractive Suite that can be used with Contoura Vision to guide surgeons and professionals in detection of abnormality or imperfection in eyes.

Laser Vision Correction Market- Restraints

However, LASIK surgery devices are highly computerized devices which can experience faults, inconsistencies, technical glitches, and other problems. Due to these technical problems, the U.S. FDA has often recalled LASIK surgery devices which is expected to hamper the laser vision correction market growth during the forecast period. For instance, in March 2018, the U.S. FDA recalled the FEMTO LDV(TM) Z8 Femtosecond Surgical Laser, a product by SIE AG, due to a customer complaint received on November 16, 2017 about a complication with a cataract procedure.

request-sample

Laser Vision Correction Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 5,201.3 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 7.9% 2027 Value Projection: US$ 8,841.2 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Procedure: LASIK (Laser Assisted In-Situ Keratomileusis), PRK (Photo Refractive Keratectomy), SMILE (Small Incision Lenticule Extraction), Others.
  • By Type: Excimer Laser, Femtosecond Laser.
  • By Therapeutic Application: Myopia, Hyperopia, Presbyopia, Astigmatism, Cataract, Others.
  • By End User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers.
Companies covered:

Johnson & Johnson., Alcon Laboratories, Inc., Nidek co., Ltd., Bausch Health Companies Inc., Carl Zeiss Meditec AG, Ziemer Group AG, Schwind Eye-tech-solutions, and Coherent Inc.

Growth Drivers:
  • The Increasing Number of Product Launches and Approvals
  • Technological Advancements by Key Players
Restraints & Challenges:
  • Frequent Product Recalls and High Cost of Laser Vision Correction Surgeries

Laser Vision Correction Market– Regional Analysis

The market in North America accounted for the largest share in the Laser Vision Correction Market in 2019 owing to the increasing incidence of refractive disorders, coupled with high demand for laser treatment. For instance, according to the American Academy of Ophthalmology, in 2016, around 23% of the U.S. population above the age of 40 years suffered from myopia.

Furthermore, in January 2019, according to the Glaucoma Research Foundation, over 3 million people in the U.S. have been diagnosed with glaucoma. The National Eye Institute projects that this number will increase by 58% and reach 4.2 million by 2030.

Furthermore, the market in Asia Pacific is expected to witness the fastest growth during the forecast period. The increasing demand for new treatment methods in countries such as India and China is expected to drive the market growth. For instance, in 2016, Contoura Vision received the U.S. FDA approval for a commercial launch, which is also available in India in various centers, and several Indian surgeons now have extensive experience with this technology.

Figure 2: Global Laser Vision Correction Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027

Laser Vision Correction  | Coherent Market Insights

Laser Vision Correction Market- Competitive Landscape

Key players operating in the laser vision correction market are Johnson & Johnson., Alcon Laboratories, Inc., Nidek co., Ltd., Bausch Health Companies Inc., Carl Zeiss Meditec AG, Ziemer Group AG, Schwind Eye-tech-solutions, and Coherent Inc.

Laser vision correction surgery is performed to correct refractive errors, improve vision, and reduce or eliminate the need for glasses or contact lenses.

Laser vision correction surgery is performed on patients suffering from myopia, hyperopia, astigmatism, or cataract. There are different types of laser vision correction surgeries recommended to patients according to their eye condition. Some of the major types of laser eye surgeries are LASIK, PRK, SMILE, and surface laser treatments.

Market Dynamics

The rising prevalence of refractive disorders are expected to create lucrative growth opportunities for the laser vision correction market during the forecast period. Changing lifestyle has led to weak immunity and increasing susceptibility to various health problems. Eye related diseases have also increased in the recent past. For instance, according to the National Eye Institute (NEI) 2019, cataracts affected 24.4 million Americans in the age group of 40 years or older. Additionally, around half of all Americans in the age group of 75 years and older have suffered from cataracts.

Furthermore, the rising prevalence of myopia, hyperopia, astigmatism, and other conditions is expected to drive the laser vision correction market growth during the forecast period. For instance, according to the Brien Holden Vision Institute’s estimations published in the World Health Organization Report 2015, 52% of the global population will be suffering from high myopia in 2050.

Key features of the study:

  • This report provides in-depth analysis of the global laser vision correction market, market size (US$ Mn), and compound annual growth rate (CAGR (%)) for the forecast period: 2020-2027, considering 2019 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 key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by leading players
  • It profiles key players in the global laser vision correction market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
  • Key players covered as a part of this study are Johnson & Johnson., Alcon Laboratories, Inc., Nidek co., Ltd., Bausch Health Companies Inc., Carl Zeiss Meditec AG, Ziemer Group AG, Schwind Eye-tech-solutions, and Coherent Inc.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to future product launches, government initiatives, technological upgradation, market expansion, and marketing tactics
  • The global laser vision correction market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors, and suppliers for laser vision correction market, research and consulting firms, new entrants, and financial analysts.

Detailed Segmentation:

  • Global Laser Vision Correction Market, By Procedure:
    • LASIK (Laser Assisted In-Situ Keratomileusis)
    • PRK (Photo Refractive Keratectomy)
    • SMILE (Small Incision Lenticule Extraction)
    • Others
  • Global Laser Vision Correction Market, By Type:
    • Excimer Laser
    • Femtosecond Laser
  • Global Laser Vision Correction Market, By Therapeutic Application:
    • Myopia
    • Hyperopia
    • Presbyopia
    • Astigmatism
    • Cataract
    • Others
  • Global Laser Vision Correction Market, By End User:
    • Hospitals
    • Specialty Clinics
    • Ambulatory Surgical Centers
  • Global Laser Vision Correction Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
      • By Procedure:
        • LASIK (Laser Assisted In-Situ Keratomileusis)
        • PRK (Photo Refractive Keratectomy)
        • SMILE (Small Incision Lenticule Extraction)
        • Others
      • By Type:
        • Excimer Laser
        • Femtosecond Laser
      • By Therapeutic Application:
        • Myopia
        • Hyperopia
        • Presbyopia
        • Astigmatism
        • Cataract
        • Others
      • By End User:
        • Hospitals
        • Specialty Clinics
        • Ambulatory Surgical Centers
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
      • By Procedure:
        • LASIK (Laser Assisted In-Situ Keratomileusis)
        • PRK (Photo Refractive Keratectomy)
        • SMILE (Small Incision Lenticule Extraction)
        • Others
      • By Type:
        • Excimer Laser
        • Femtosecond Laser
      • By Therapeutic Application:
        • Myopia
        • Hyperopia
        • Presbyopia
        • Astigmatism
        • Cataract
        • Others
      • By End User:
        • Hospitals
        • Specialty Clinics
        • Ambulatory Surgical Centers
    • Asia Pacific
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
      • By Procedure:
        • LASIK (Laser Assisted In-Situ Keratomileusis)
        • PRK (Photo Refractive Keratectomy)
        • SMILE (Small Incision Lenticule Extraction)
        • Others
      • By Type:
        • Excimer Laser
        • Femtosecond Laser
      • By Therapeutic Application:
        • Myopia
        • Hyperopia
        • Presbyopia
        • Astigmatism
        • Cataract
        • Others
      • By End User:
        • Hospitals
        • Specialty Clinics
        • Ambulatory Surgical Centers
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
      • By Procedure:
        • LASIK (Laser Assisted In-Situ Keratomileusis)
        • PRK (Photo Refractive Keratectomy)
        • SMILE (Small Incision Lenticule Extraction)
        • Others
      • By Type:
        • Excimer Laser
        • Femtosecond Laser
      • By Therapeutic Application:
        • Myopia
        • Hyperopia
        • Presbyopia
        • Astigmatism
        • Cataract
        • Others
      • By End User:
        • Hospitals
        • Specialty Clinics
        • Ambulatory Surgical Centers
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
      • By Procedure:
        • LASIK (Laser Assisted In-Situ Keratomileusis)
        • PRK (Photo Refractive Keratectomy)
        • SMILE (Small Incision Lenticule Extraction)
        • Others
      • By Type:
        • Excimer Laser
        • Femtosecond Laser
      • By Therapeutic Application:
        • Myopia
        • Hyperopia
        • Presbyopia
        • Astigmatism
        • Cataract
        • Others
      • By End User:
        • Hospitals
        • Specialty Clinics
        • Ambulatory Surgical Centers
    • Africa
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
      • By Procedure:
        • LASIK (Laser Assisted In-Situ Keratomileusis)
        • PRK (Photo Refractive Keratectomy)
        • SMILE (Small Incision Lenticule Extraction)
        • Others
      • By Type:
        • Excimer Laser
        • Femtosecond Laser
      • By Therapeutic Application:
        • Myopia
        • Hyperopia
        • Presbyopia
        • Astigmatism
        • Cataract
        • Others
      • By End User:
        • Hospitals
        • Specialty Clinics
        • Ambulatory Surgical Centers
  • Company Profiles
    • Johnson & Johnson*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Highlights
      • Strategies
    • Alcon Laboratories, Inc.
    • Nidek co., Ltd.
    • Bausch Health Companies Inc.
    • Carl Zeiss Meditec AG
    • Ziemer Group AG
    • Schwind Eye-tech-solutions
    • Coherent Inc.

“*” 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 Overview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Procedure
      • Market Snippet, By Type
      • Market Snippet, By Therapeutic Application
      • Market Snippet, By End User
      • 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
    • Regulatory Scenario
    • Reimbursement Scenario
    • R&D Initiatives
    • Product Launches
    • Mergers and Acquisitions
    • PEST Analysis
    • Procedure Costs Analysis
    • Pricing Analysis
    • Age Group Of Patients For Lasik Surgery
    • List Of Laser Vision Correction Surgery Clinics
  4. Impact Analysis of Covid-19
    • Supply side Analysis
    • Demand Side Analysis
    • Impact on Healthcare Industry
  5. Global Laser Vision Correction Market, By Procedure, 2016 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • LASIK (Laser Assisted In-Situ Keratomileusis)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • PRK (Photo Refractive Keratectomy)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • SMILE (Small Incision Lenticule Extraction)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
  6. Global Laser Vision Correction Market, By Type, 2016 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Excimer Laser
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Femtosecond Laser
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
  7. Global Laser Vision Correction Market, By Therapeutic Application, 2016 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 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$ Million)
    • Hyperopia
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Presbyopia
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Astigmatism
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Cataract
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
  8. Global Laser Vision Correction Market, By End User, 2016 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Specialty Clinics
      • Introduction    
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Ambulatory Surgical Centers
      • Introduction    
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
  9. Global Laser Vision Correction Market, By Region, 2016 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2017 – 2027
      • Regional Trends
    • North America
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
        • China
        • Japan
        • India
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Africa
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Country/Region, 2016 – 2027, (US$ Million)
        • North Africa
        • Central Africa
        • South Africa
    • Middle East
      • Market Size and Forecast, By Procedure, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Million)
        • GCC
        • Israel
        • Rest of Middle East
  10. Competitive Landscape
    • Company Profiles
      • Johnson & Johnson.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Alcon Laboratories, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Nidek co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Bausch Health Companies Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Carl Zeiss Meditec AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Ziemer Group AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Schwind Eye-tech-solutions
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Coherent Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
  11. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 45 market data tables and 39 figures on "Global Laser Vision Correction Market” - Forecast to 2027”

Frequently Asked Questions

The CAGR of the Laser Vision Correction Market is expected to be 7.9% during the forecast period (2020-2027).
The value of Laser Vision Correction Market is estimated to be US$ 5,201.3 million in 2020.
The prominent players operating in the global Laser Vision Correction Market are Johnson & Johnson., Alcon Laboratories, Inc., Nidek co., Ltd., Bausch Health Companies Inc., Carl Zeiss Meditec AG, Ziemer Group AG, Schwind Eye-tech-solutions, and Coherent Inc.
The Laser Vision Correction Market is expected to be valued at US$ 8,841.2 Mn in 2027.
North America is the major region in the Laser Vision Correction Market.
The increasing number of product launches and approvals, and technological advancements by key players are expected to drive growth of the Laser Vision Correction Market.
Existing Clientele

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients

Our Trusted Patner