Lasik Eye Surgery Devices Market Size By Product (Excimer Laser, Femtosecond Laser), By End-use (Lasik Eye Centers, Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Lasik Eye Surgery Devices Market trends

Lasik eye surgery is a treatment that specifically improves certain eyesight problems such as astigmatism, myopia and hyperopia. This eliminates or reduces the need for corrective lenses as well as eyeglasses which fuels the demand for lasik eye surgery devices. Lasik stands for laser in-situ keratomileusis, a technical term for surgical procedure. Lasik eye procedure is one of the common types of refractive surgeries that changes the shape of cornea to correct an individual’s vision. This procedure or treatment comparatively is more effective with minimum side effects that further accelerates market demand.

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Lasik eye surgery is a beneficial procedure in medical industry with the efficacy of lasik eye surgery devices as a major factor. Also, lasik treatment is a highly successful procedure that reduces a person's dependence on glasses or contact lenses. All such factors thereby provide numerous opportunities for the market expansion.
 

The history of refractive surgery can be traced back to 1948 when Father Waclaw Szuniewicz experimented on changing the shape of cornea. His scientific accomplishments made him one of the pioneers of refractive surgery of cornea. Later in 1964, Professor Jos and Ignacio Barraquer introduced keratomileusis, a more sophisticated technique to correct vision problems that eventually accelerated the market size. Furthermore, between 1973-1983, three researchers at the IBM invented excimer laser that precisely corrected refractive errors, thereby surging the demand for lasik eye surgery devices.
 

Dr. Stephen Brint and Dr. Stephen Slade in 1991 performed first LASIK surgery in the U.S. with the help of an excimer laser to efficiently correct vision problems that fostered industry progression. Later in 1996, FDA had approved lasik technology to reshape cornea. Also, the first femtosecond laser used in lasik eye surgery approved for bladeless lasik was IntraLase laser that gained FDA approval in 2001. Rising number of eye surgeries globally coupled with growing patients’ preferences towards these devices will support the lasik eye surgery devices market growth over the coming years.
 

Surging demand for minimally invasive surgical procedures drives the market growth

Increasing demand for minimally invasive surgical procedures has allowed specialists to reduce morbidity during the surgical procedures by reducing the need for large surgical incisions. Lasik eye surgery is a minimally invasive surgical procedure conducted to correct refractive errors such as myopia, hyperopia and astigmatism. Usage of modern diagnostic tools and surgical instruments will further enhance the patient’s overall health. Therefore, an increase in preference for minimally invasive surgical procedures will boost the industry growth during the analysis timeframe.
 

Furthermore, recent innovations and advancements in minimally invasive technologies have resulted in an increase in number of lasik eye surgeries across the globe. Patients with vision problems usually prefer minimally invasive techniques owing to benefits such as less pain, reduced cost of procedure, and improved recovery time.
 

In addition, other advantages of minimally invasive surgical procedure such as minimum blood loss, less discomfort, smaller incision length and shorter hospitalization stays make it a preferable treatment option. The aforementioned aspects will accelerate the demand for lasik eye surgery devices and enhance the opportunities for market progress. However, risks associated with eye surgeries may hinder the market growth over forthcoming years.
 

High accuracy of femtosecond laser as compared to excimer laser will provide lucrative growth opportunities

Lasik eye surgery devices market is bifurcated based on product and end-use segments. The product segment covers excimer laser and femtosecond laser. Femtosecond laser market accounted for around USD 750 million in 2018. Femtosecond laser used in lasik eye surgery devices industry is specially designed to cut any 3D shape in cornea or the natural lens with highest degree of accuracy and precision.
 

Several recent studies have shown that creating flaps with femtosecond laser is highly accurate and removes tissue more predictably across the entire cornea. This surges the segmental demand over the forecast period. Femtosecond lasers are extensively used in lasik and smile surgeries to effectively diagnose and treat various vision problems. The above-mentioned factors will prove beneficial for the overall lasik eye surgery devices demand.
 

Ambulatory surgical centers offer several benefits over hospitals and other clinics that supports industry growth

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The end-use segment of lasik eye surgery devices market is fragmented into lasik eye centers, hospitals, ambulatory surgical centers and others. Ambulatory surgical centers (ASCs) segment had garnered over 19.5% revenue share in 2018. ASCs deliver numerous benefits as compared to eye clinics and other hospitals. Benefits such as well-equipped devices, shorter hospital stay and lower risk of acquiring hospital-acquired infections (HAIs) boosts the market demand. Moreover, ASCs offer effective diagnosis and treatment in the presence of a professional healthcare team and facilities. Also, availability of technologically advanced lasik eye surgery devices in ambulatory centers will foster the overall market expansion. 
 

The increasing prevalence rate of myopia in Asian countries will foster the market expansion

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Asia Pacific lasik eye surgery devices market size will witness around 4.5% CAGR owing to increasing number of refractive errors in the region. Myopia is the most common refractive error that general population usually have. The prevalence rate of myopia is highest in Asian countries, and predominately lower in countries including the U.S. and Germany that fosters market progression. Moreover, various government initiatives that are undertaken for lasik eye surgery devices use in healthcare facilities will propel the business growth.
 

Prominent market players functioning in lasik eye surgery devices industry aims at introducing novel products to sustain market competition

Some of the eminent business players operating in lasik eye surgery devices market share are Alcon, BAUSCH + LOMB, Carl Zeiss, Johnson & Johnson, Lasersight Technologies, NIDEK, SCHWIND eye-tech-solutions, TECHNOLAS Perfect Vision and Ziemer Ophthalmic System. The leading industry players tactically implement various growth strategies to capitalize market opportunities and sustain market competition. 
 

Some of the recent industry developments:

• In September 2019, Zeiss medical technology segment introduced its new technology for eye care and high-resolution imaging at European society of cataract and refractive surgery (ESCRS). This technology will help company to develop advanced products and thereby increase its consumer base.
   
• In April 2017, NIDEK launched NAVEX Quest M2 NIDEK Advanced Vision Excimer Laser System that offers highly reliable and accurate data for clinical diagnostics. This strategy broadened company’s product portfolio to market its products.
   

The lasik eye surgery devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2014 to 2025, for the following segments:

By Product

• Excimer Laser
• Femtosecond Laser

By End-use

• Lasik Eye Centers
• Hospitals
• Ambulatory Surgical Centers
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • GCC Countries