Emergence of Novel Ophthalmic Technologies to Bolster Personalized LASIK Surgery Market

Due to continuous evolution of the technology, the global market for personalized LASIK surgery is demonstrating high growth in its valuation and size. Transparency Market Research (TMR) has estimated the market could rise to a valuation of US$2.6 bn by the end of 2024, from the valuation of US$1.6 bn in 2015, projecting a healthy CAGR of 5.60% for the period 2016-2024. LASIK surgeries are advanced and highly effective treatment for vision related disorders such as presbyopia, astigmatism, hyperopia, and primarily myopia. The emergence of novel ophthalmic technologies, increasing risk of infection caused by the continual usage of contact lens, and the rise in the prevalence of ocular disorders and diseases are expected to drive this market in the coming future.  

Q. What factors support the global personalized LASIK surgery market's expansion?

Around 34% of the U.S. population uses lenses or glasses due to eye disorders, states the American Academy of Ophthalmology. LASIK surgery is gaining popularity among patients to treat eye disorders as it is a permanent alternative to lifelong need of wearing lenses or spectacles. In these surgeries, the corneal surface of the eye is reshaped or altered to correct the vision. Personalized or customized LASIK surgery uses latest laser vision technology and considers 3-dimensional measurements of the patient’s eye to enhance the ophthalmologist’s ability to correct the cornea. This makes it a safer version of the traditional LASIK procedure. Technologically advanced and innovative devices offers short surgery time, user-friendliness, high sensitivity, and high speed for treatments. These advantages are being embraced by healthcare facilities all around the world and are expected to drive the market.

Moreover, the personalized LASIK surgeries offer prevalence and incidence rate of vision related disorders. Ambulatory surgical centers, ophthalmic clinics, and hospitals are the major end users of personalized LASIK surgeries demanding for advanced personalized LASIK solutions. 

Q. Which regions show most lucrative prospects for growth of the global market?

Geographically, the global personalized LASIK surgery market can be divided into the Middle East and Africa, Latin America, North America, Asia Pacific, and Europe. However, North America dominated the market in 2015, accounting to about 45% of overall market. The increasing awareness among people about the treatment of myopia through laser technique, rising cases of myopia, and the rise in the geriatric population are some of the key factors impelling the market in North America. Furthermore, augmenting usage of LASIK surgeries by ophthalmologists, rise in the prevalence of ocular diseases and disorders, and the advent of new technologies are expected to assist the North America market to sustain its dominating position in the future.

Following North America, Europe has a significant share in the global market for personalized LASIK surgery, owing to the availability of favorable reimbursement policies, growing demand for minimally invasive surgeries, and increasing prevalence of presbyopia and myopia in European citizens.


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