Personalized LASIK Surgery Market Expected To Witness A Substantial Growth Of $3.69 Billion By 2022: Grand View Research Inc.



Global personalized LASIK surgery market is expected to reach USD 3.69 billion by 2022, according to a new report by Grand View Research, Inc. Introduction of technologically advanced and minimally invasive surgical procedures for vision correction is a key driver of the personalized LASIK surgery market.

The ophthalmic healthcare providers across several countries, to reduce risk and assure the health and safety of the patients during global pandemic Covid-19, are providing only emergency and essential services. This has resulted in the changing dynamics of the ophthalmic market space. We are working to analyze the impact of reduced surgical volume of LASIK surgery, rising deaths of geriatric patients, and changing import-export trends in our revised study. The updated report will account for Covid-19 as a key market contributor.

Advancements in instruments used for personalized procedures and the ability of the technology to reduce risks involved are anticipated to increase the adoption rate of personalized LASIK surgery. For instance, the iDesign platform by AMO scans the patient’s eye more than 25 times and develops a unique blueprint. Moreover, 98% of patients who have undergone personalized LASIK surgery have not witnessed any post-surgery side effects

Key players of the personalized LASIK surgery market include Alcon Laboratories, Inc., Abbott Medical Optics (AMO), Bausch & Lomb, Carl Zeiss, Inc., and Nidek, Inc.The market players are majorly involved in mergers and acquisitions in an attempt to sustain competition. For instance, In January 2013, Bausch and Lomb acquired Technolas Perfect Vision GmbH. This collaboration resulted in the addition of latter’s femtosecond lasers to Bausch and Lomb product range.
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https://www.grandviewresearch.com/industry-analysis/personalized-lasik-surgery-market/request/rs2

Gradually growing prevalence of refractive disorders such as myopia, hyperopia, and astigmatism, and rising number of R&D initiatives are expected to enhance the market growth. For instance, Carl Zeiss is evaluating its novel flapless SMILE platform for the treatment of spherical myopia in the U.S and is likely to initiate trials for severe astigmatism.

Further key findings from the study suggest:
·         Topography guided LASIK surgery is identified as the fastest growing segment. The segment is anticipated to grow at a CAGR of 12.9% over the forecast period. Introduction of new topography based programs such as the CATz program in 2013 and high price associated with it are some primary factors boosting the growth of the market.
·         North America held over 45.0% of the market share in 2014.The customized LASIK surgery is gaining preference in North America majorly owing to advantages associated with personalized LASIK surgery such as less side effects and shorter procedure duration.
·         Europe was also one of the largest regional markets in 2015. Rising demand for customized LASIK surgery and huge investments in R&D programs are some growth drivers.
·         The Asia Pacific market is anticipated to witness profitable growth and capture over 18.0% share of the global industry by 2022. Increasing awareness levels, growing number of eye care centers providing customized LASIK surgeries, rising disposable income levels, and high unmet clinical needs are some regional growth factors.
·         Key players of the market include Alcon Laboratories, Inc., Abbott Medical Optics (AMO), Bausch & Lomb, Carl Zeiss, Inc., and Nidek, Inc.
·         The industry was led by Abbott Medical Optics (AMO) with a market share of over 25% in 2014. Extensive product range, wide geographical presence, and the introduction of novel iDesign technology are some factors attributing to its large share. 
The global personalized LASIK surgery market size was valued at USD 1.43 billion in 2014. Growing popularity of corrective eye surgery is expected to support market growth. The introduction of technologically advanced instruments, increasing number of eye care centers providing personalized LASIK surgeries, and rising awareness pertaining to efficacy and safety are some factors anticipated to drive market growth over the forecast period.
Refractive impairments such as myopia (near sightedness), hyperopia (far sightedness), astigmatism, and presbyopia can lead to hindrance in everyday activities and increase the need for glasses. It is reported by the American Academy of Ophthalmology that around 35% of people in the U.S. wear glasses due to eye disorders. It is estimated that around 25% of people worldwide opt for laser eye sight correction surgeries as lifetime alternative for using glasses and lens.
Development of technologically advanced instruments exhibiting high speed, sensitivity and user friendliness and rising demand for minimally invasive surgeries owing to associated benefits such as short hospital stays, and low blood loss etc. are estimated to enhance the adoption rate of personalized LASIK surgeries. For instance, the iLASIK platform consisting of IntraLase FS laser developed by AMO operates on the aforementioned features and hence, is a widely preferred instrument.
Many organizations and government institutes are also providing help to patients with vision problems and this is anticipated to drive market demand. For instance, the National Eye Institute undertakes initiatives for supporting research and new product development processes pertaining to eye care. Other similar programs include BlueCross Blue Shield QualSight program, which offers discounts to Federal Employees on LASIK surgery cost.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-personalized-lasik-surgery-market

Grand View Research has segmented the global personalized LASIK surgery market based on type:
Global Personalized LASIK Surgery Type Outlook (Revenue, USD Million, 2012 - 2022)
·         Wavefront guided LASIK
·         Wavefront optimized LASIK
·         Topography guided LASIK
Personalized LASIK procedures are analyzed by segmenting the process into wavefront guided, wavefront optimized, and Topography guided surgeries.
The wavefront based procedures involve the measurement of patient’s cornea depending on how the light travels through the eyes and fall upon the retina. The laser treatment by this procedure is completely personalized according to patient’s eye anatomy. Whereas, topography based procedures take the measurement of eye surface depending on anatomy of patients eyes.
The wavefront guided LASIK surgery segment held the largest share of over 39% in 2014. Currently available wavefront guided systems include iDesign Advanced CustomVue LASIK System, WaveScan System, and CustomVue offered byAbbott Medical Optics(AMO), and Technolas 217z Zyoptix System offered by Bausch &Lomb.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.




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