Personalized LASIK Surgery Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.90 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Personalized LASIK Surgery Market Analysis
The Personalized LASIK Surgery Market is expected to grow at a CAGR of 5.9% over the forecast period.
The COVID-19 pandemic has impacted the market significantly. Initially, the government's implemented lockdowns led to a drop in footfall in clinics and hospitals for eye care and the cancellation or postponement of many procedures. For instance, according to a research study published in the Indian Journal of Ophthalmology, in December 2021, the clinics were supposed to perform 7,500 cataract procedures which were reduced to just 2,500 due to the pandemic. Further, the pandemic is expected to have a long-term impact on the market owing to long on-screen hours, leading to a rising burden of ophthalmic diseases. For instance, as per a research study published in January 2021 in JAMA Ophthalmology, in school-based photo screenings conducted in China, children between the age of 6 and 8 years who were kept at home during the COVID-19 pandemic suffered significant myopic changes. Therefore, the initial decline in ophthalmic procedures is expected to cover up with ease in restriction and decline in COVID-19 cases. Further, the long-term impact of COVID-19 is likely to add to the market's growth over the forecast period.
Factors such as the rising burden of ophthalmic diseases and technological advancement in LASIK procedures are expected to drive market growth. For instance, according to the October 2022 update of the WHO, globally, at least 2.2 billion people have a near or distant vision impairment, of which, in at least 1 billion or almost half of these cases, vision impairment could have been prevented or has yet to be addressed. Additionally, as per an article published by the American Academy of Ophthalmology in February 2022, ophthalmologists suggest refractive surgeries such as LASIK for treating vision impairment. Several advantages associated with personalized LASIK surgery are anticipated to augment the market growth studied. For instance, an article published by NVISION Eye Centers in August 2021 stated that one of the most advantageous features of the customized LASIK is that it uses wavefront technology, which allows the eye surgeon to customize where the lasers remove tissue from the cornea, taking the cornea shape and irregularities into account, while traditional LASIK lacks this feature and does not measure specific corneal aberrations. Hence, the adoption of LASIK procedures is expected to increase, thereby fueling growth in the market.
Furthermore, the strategic activities of the major market players are expected to drive the studied market. For instance, in December 2021, Adagia Partners, a pan-European mid-market private equity firm, acquired Schwind eye-tech Solutions GmbH. The company covers essential all-laser procedures of modern refractive surgery from a single source, such as the touch-free TransPRK/SmartSurfACE surface treatment, intrastromal Femto-LASIK, and new-gen minimally-invasive SCHWIND SmartSight lenticle extraction. Such activities are expected to drive market growth over the forecast period.
Thus, the abovementioned factors are impacting the market growth of the personalized LASIK surgery market. However, ambiguous regulatory frameworks and insufficient reimbursement policies will hinder market growth over the forecast period.
Personalized LASIK Surgery Market Trends
Myopia Segment is Expected to Witness High Growth Over the Forecast Period
Nearsightedness (myopia) is a common vision condition. People with myopia can see objects near them clearly, but things that are far away may seem blurry. LASIK surgery eliminates this near focus caused by myopia. Thus, the application of personalized LASIK surgery in treating myopia is expected to boost the segment's growth over the forecast period. The increasing incidence of myopia will be one of the primary reasons for the development of the market. For instance, the International Myopia Institute, in January 2022, stated that nearly 30% of the world is currently myopic, and almost 50% of the global population may be myopic by 2050. As personalized LASIK surgery is the latest solution available for the treatment of myopia, the demand for LASIK surgeries for myopia treatment is expected to grow over the forecast period.
Furthermore, topo-guided LASIK surgery has been effective for myopia treatment, and several studies have shown its efficacy over other procedures. According to an article published by Healio, in October 2021, due to the eye tracking, cyclorotation compensation, and active centration control in topo-guided LASIK technology, better visual performance than SMILE (Small Incision Lenticule Extraction) was observed over long-term follow-up. Further, as per the same source, topo-guided LASIK demonstrated better optical performance and accuracy, especially in highly myopic eyes. Such studies increase the adoption of personalized LASIK surgeries among myopia-affected populations, eventually driving growth. Therefore, the myopia segment is expected to grow over the forecast period due to the abovementioned factors.
North America is Expected to Dominate the Personalized LASIK Surgery Market Over the Forecast Period
North American region accounted for the largest market share as there is a high rate of preference for vision corrective surgeries. Other factors driving the studied market in the region are the availability of advanced technologies and the increased healthcare spending of the target population. For instance, according to the 2021 report of the American Optometric Association, myopia affects nearly 30% of the US population. While the exact cause of myopia is unknown, there is significant evidence that many people inherit myopia or at least the tendency to develop myopia. If one or both parents are near-sighted, there is an increased chance their children will be near-sighted.
Furthermore, according to ARVO Annual Meeting Abstract, in June 2022, the overall prevalence of myopia was 33%, hyperopia was 29%, and Astigmatism was 66% in North Canada. Additionally, according to a study by Optometry and Vision Science, in November 2021, myopia was 36.11%, hyperopia was 1.49%, and Astigmatism was 29.17% in children of Northern Mexico. Hence, the high prevalence of vision disorders is expected to boost the market growth in the region.
Additionally, per the data updated in November 2021 for LASIK by the National Library of Medicine, several lasers are approved by the US Food and Drug Administration (FDA) for use in LASIK surgeries. As per the source mentioned above, custom LASIK is often utilized. Thus, the increase in approval and preference for LASIK surgery will drive the market over the forecast period. Therefore, owing to the factors above, the market studied is predicted to grow in North America over the forecast period.
Personalized LASIK Surgery Industry Overview
The personalized LASIK surgery market is moderate in nature due to the presence of companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold significant market shares and are well known, including Johnson & Johnson, Alcon Inc., Bausch Health, Carl Zeiss AG, Lasersight Technologies Inc., Nidek Co. Ltd, Ziemer Group AG, among others.
Personalized LASIK Surgery Market Leaders
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Alcon Inc.
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Johnson & Johnson
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Bausch Health Companies Inc.
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Nidek Co. Ltd.
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Carl Zeiss AG
*Disclaimer: Major Players sorted in no particular order
Personalized LASIK Surgery Market News
- In October 2022, a clinical trial was started at the Stanford University School of Medicine, United States, to assess the results of wavefront-guided LASIK versus topography-guided LASIK in myopic individuals' randomized contralateral fellow eye studies.
- In May 2022, Sohana Hospital, based in Mohali, India, launched the LASIK treatment to stop the usage of spectacles. The Contoura Vision LASIK surgery can be performed in under 10 minutes.
Personalized LASIK Surgery Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Burden of Ophthalmic Diseases
- 4.2.2 Technological Advancement in LASIK Procedure
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4.3 Market Restraints
- 4.3.1 Ambiguous Regulatory Framework and Insufficient Reimbursement Policies
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4.4 Porter's Five Force Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Type
- 5.1.1 Wavefront LASIK
- 5.1.2 Topography guided LASIK
- 5.1.3 Other Types
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5.2 By Indication
- 5.2.1 Myopia
- 5.2.2 Hypermetropia
- 5.2.3 Presbyopia
- 5.2.4 Other Indications
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5.3 By End User
- 5.3.1 Hospitals
- 5.3.2 ASC
- 5.3.3 Others
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Johnson & Johnson
- 6.1.2 Alcon Inc.
- 6.1.3 Bausch Health Companies Inc.
- 6.1.4 Carl Zeiss AG
- 6.1.5 Lasersight Technologies Inc.
- 6.1.6 Nidek Co. Ltd
- 6.1.7 Ziemer Ophthalmic Systems
- 6.1.8 Stryker
- 6.1.9 Medtronic
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityPersonalized LASIK Surgery Industry Segmentation
As per the scope of the report, Personalized LASIK (laser-assisted in situ keratomileusis) surgery refers to the use of wavefront technology to create a three-dimensional digital map of a person's cornea. It is also referred to as custom LASIK. The Personalized LASIK Surgery Market is Segmented by Type (Wavefront LASIK, Topography guided LASIK and Other Types), Indication (Myopia, Hypermetropia, Presbyopia, and Other Indications), End User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the market sizes and forecasts in terms of value (USD million) for the above segments.
| By Type | Wavefront LASIK | |
| Topography guided LASIK | ||
| Other Types | ||
| By Indication | Myopia | |
| Hypermetropia | ||
| Presbyopia | ||
| Other Indications | ||
| By End User | Hospitals | |
| ASC | ||
| Others | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Personalized LASIK Surgery Market Research FAQs
What is the current Personalized LASIK Surgery Market size?
The Personalized LASIK Surgery Market is projected to register a CAGR of 5.90% during the forecast period (2024-2029)
Who are the key players in Personalized LASIK Surgery Market?
Alcon Inc., Johnson & Johnson, Bausch Health Companies Inc., Nidek Co. Ltd. and Carl Zeiss AG are the major companies operating in the Personalized LASIK Surgery Market.
Which is the fastest growing region in Personalized LASIK Surgery Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Personalized LASIK Surgery Market?
In 2024, the North America accounts for the largest market share in Personalized LASIK Surgery Market.
What years does this Personalized LASIK Surgery Market cover?
The report covers the Personalized LASIK Surgery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Personalized LASIK Surgery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Lasik Eye Surgery Industry Report
Statistics for the 2024 Lasik Eye Surgery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Lasik Eye Surgery analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
