Custom LASIK Surgery Market, by Procedure (Wavefront Guided, Wavefront Optimized, and Topography), by Therapeutic Applications (Myopia, Hyperopia, Astigmatism, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

Published In : Mar 2020

Code : CMI86

Pages :128

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges And Opportunities

Increasing incidence of refractive disorders is expected to propel growth of the global custom LASIK market

Increasing incidence of refractive disorders coupled with high demand for eye laser treatment is expected to drive growth of the custom LASIK surgery market over the forecast period. For instance, according to the American Academy of Ophthalmology, 2016, around 23% of the U.S. population aged above 40 years suffered from myopia.

Market players are focused on launches and approval of LASIK procedures to enhance their offerings in potential markets. For instance, in November 2015, Alcon, a division of Novartis introduced Contoura Vision, the first personalized LASIK procedure at the American Academy of Ophthalmology (AAO) Annual Meeting held at Las Vegas, U.S. Contoura Vision is a topography-guided LASIK treatment developed to help surgeons or healthcare professionals perform personalized laser procedures for patients with nearsightedness with astigmatism based on the corneal topography of each eye.

Moreover, key players in the market are focusing on investments in research and development of custom LASIK technology. Several market players are actively investing in development and launch of advanced wavefront guided LASIK technology for individual treatment. For instance, in June 2013, Bausch & Lomb Incorporated received the Health Canada Medical Device License (MDL) for VICTUS Femtosecond Laser Platform that is used in creation of a corneal flap in patients undergoing LASIK surgery.

However, costly treatment procedures and technical complexity are the major factors which are expected to hamper the market growth. Moreover, these procedures might damage the vision permanently. For instance, according to the American Refractive Surgery Council, advanced LASIK procedures for Astigmatism can cost around US$ 4,500.