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Global Custom LASIK Surgery Market Revenue Growth Predicted by 2024

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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.
Global Custom LASIK Surgery Market Estimated
To Witness a Phenomenal Growth by 2024
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
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
Global Custom LASIK Surgery Market Size 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.
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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 wavefrontoptimized 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.
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.
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.
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ravikiran
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