Custom LASIK Surgery Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis

The Global Custom LASIK Surgery Market was valued at US$ 1,537.6 million in 2016, as highlighted by Coherent Market Insights in its latest report on the market. High degree of precision and personalization as compared to conventional LASIK surgery is expected boost demand for custom LASIK surgery.
Custom LASIK surgery market has witnessed lucrative growth in last five years, owing to its added advantage over conventional LASIK surgery and advanced eye laser treatments. It offers high correction vision and also enhances quality of eye vision in terms of contrast sensitivity. Since the introduction of LASIK surgery in 1991, over 10 million patients have been benefitted worldwide. However, the personalized LASIK surgery gained traction post introduction of wavefront guided LASIK surgery in 2002. Since then, various companies have revolutionized the industry by venturing in custom LASIK surgery market.
Increasing prevalence rate of refractive disorders, along with higher demand for eye laser treatment is expected to create market opportunity for players engaged in LASIK surgery market. For instance, over 23% of the U.S. population aged above 40 years suffered from myopia according to the American Academy of Ophthalmology 2016 estimates. There is high addressable market that needs to be capitalized upon. Only a fraction of the market is commercialized with custom LASIK surgery procedure. Existing leading companies are spend a considerable amount on development of custom LASIK technology. Companies such as Abbott Medical Optics, Alcon Laboratories, and Wavelight AG, have developed wavefront guided LASIK technology for individual treatment.
Key takeaways of the market are as follows:
• North America is estimated to account for nearly 38% of overall custom LASIK surgery market revenue in 2017. The market in this region is expected to be primarily driven by rising demand in the U.S. Presence of specialized refractive surgeons along with higher healthcare spending and awareness towards better treatment care is expected to bolster demand for custom LASIK surgery procedure in the region. In 2016, over 1,050 LASIK centers performed around 630,000 LASIK procedures in the U.S.
• The markets in Latin America and Asia Pacific is expected to register double digit growth rate over the forecast period. Rise in discretionary income along with increasing prevalence of refractive disorders are expected to create lucrative market opportunities for the players in these region. Though, Latin America custom LASIK surgery market size is expected to register relatively higher CAGR than Asia Pacific, the latter is expected to generate over 3.5 times of the revenue generated by Latin America by 2024 end.
• While wavefront-guided procedure segment is expected to dominate the custom LASIK surgery market share throughout the forecast period, topography guided LASIK procedure segment is expected to register fastest CAGR between 2016 and 2024. Various companies are trying to establish their presence in the market through development and distribution of innovative products in the market. For instance, in 2015, Alcon—a subsidiary of Novartis—received FDA approval for topography guided LASIK procedure. Commercialization of the product is expected to drive revenue growth of the company over the forecast period.
• Abbott Medical Optics, Alcon Laboratories, Inc., Carl Zeiss, Inc., Bausch & Lomb, Nidek, Inc., and Technolas Perfect Vision GmbH are few of the key players in custom LASIK surgery market.
• Expansion of product portfolio along with the focus on long-term partnerships with LASIK centers are the prominent strategies adopted by leading players in this industry. For instance, Abbott received FDA approval for iDesign Advanced WaveScan Studio in 2015.

Thrust Vector Control System (TVC) Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Thrust Vector Control system (TVC) also called as Thrust vectoring is the ability of an aircraft, rocket, or other vehicles to control the direction of the thrust from engine or motor in order to control the attitude or angular velocity of the vehicle. Thrust Vectorin...

Ultra High Molecular Weight Polyethylene Ropes Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Ultra High Molecular Weight Polyethylene (UHMWPE) is odorless, tasteless, nontoxic, and resistant to corrosive chemicals except oxidizing acids having low moisture absorption (Hydrophobic) capacity and low coefficient of friction.  UHMWPE can float in water due t...

Enzyme Linked Immunosorbent Assay (ELISA) Analyzer Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

ELISA analyzer is a fully automated instrument for performing Enzyme Linked Immunosorbent Assay (ELISA). This device is designed to perform in vitro diagnostic tests for autoimmune diseases and infectious diseases such as AIDS. ...

Naloxone Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Naloxone, also referred to as Narcan, is an opioid antagonist that is widely used to reverse opioid overdose completely or partially. Opioid overdose generally causes respiratory depression among people, thus naloxone is used to reverse this adverse effect. Narcan is ...

Global Dual Specificity Protein Kinase TTK Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

A protein kinase is a kinase enzyme that helps in the modification of other proteins by chemically adding phosphate groups to them, which is known as phosphorylation. Dual specificity protein kinase TTK, also known as Mps1, is an enzyme, which is encoded by the TTK ge...

Smoked Eel Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Smoked eels are fishes that are cured by smoking. Foods have been smoked by humans throughout history, however, it was done to preserve the food. Nowadays, preservation of fish is possible by refrigeration or freezing. The smoking of fish adds a unique taste and flavo...

Fallopian Tube Cancer Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Fallopian Tubes also called as uterine tube are pair of tubes, which carry an egg from the ovary to the uterus. Fallopian tube cancer also called as tubal cancer is caused due to uncontrolled growth of cells in fallopian tubes that connect the ovaries and the uterus. ...

Inoculating Turntables Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Microbiology has wide applications in various end-use industries such as food and beverages, textiles, leather, dairy, alcohol fermentation industries. Microbiological processes involve inoculation of specific strain of bacteria in culture in order to get desired resu...

Submarine Escape Immersion Equipment Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Submarine escape immersion equipment (SEIE) is a whole-body suit and one-man life raft, which is designed to allow submariners to escape from a sunken submarine. This suit was first invented by RFD Beaufort Limited, a Europe-based company. The suit is an upgrade to th...

Medium Voltage Vacuum Contactors Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Vacuum contactors are the major components of any electrical circuit that requires voltage switching. Vacuum contactors utilize vacuum bottle encapsulated contacts to suppress the arc. The suppression of arc allows the contacts to be much smaller and exploits less spa...

 

Select Licence :

  • Single User : $4500
  • Multiple User : $7000
  • Corporate User : $10000

Happy To Assist You

Assist you at Worldwide Market Reports

We will be happy to help you find what you need. Please call us or write to us:

Worldwide Market Reports Benefits

Custom Research Solution

Talk to our research consultant to design an exclusive report as per your research needs.

Customer Fulfilment

We aim to fulfil client's research demands with tailored research solutions.

Quick Turnaround Time Reports

We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

360-degree Approach

We cover each industry from supply and demand side with an aim to provide a most holistic research study.