LASER VISION CORRECTION MARKET ANALYSIS

Market Challenges And Opportunities

Global Laser Vision Correction Market - Driver

Increasing product and platform launches regarding laser vision correction

The increasing launch of novel platforms and medical devices is providing lucrative growth opportunities for the global laser vision correction market. For instance, in August 2022, LENSAR, Inc., a global medical technology company focused on advanced femtosecond laser surgical solutions for the treatment of cataracts, announced the launch of ALLY, an adaptive cataract treatment system. LENSAR, Inc. is a commercial-stage medical device company focused on designing, developing, and marketing advanced systems for the treatment of cataracts and the management of visually significant astigmatism as an integral aspect of the cataract procedure.

Increasing approvals from the U.S. Food and Drug Administration (FDA)

The increasing approvals from U.S. Food and Drug Administration (FDA)  to develop newer technologies and drug therapies can drive the growth of the global laser vision correction market. For instance, in June 2022, Johnson & Johnson Vision (a subsidiary of Johnson & Johnson) announced FDA clearance of CATALYS cOS 6.0 software in the CATALYS Precision Laser System to address needs in astigmatism management for cataract patients. The new software simplifies astigmatism management workflow and increases operational efficiency.

Global Laser Vision Correction Market: Restraint

Warnings from the U.S. Food and Drug Administration (FDA)

The side effects caused by LASIK surgeries can restrain the growth of the global laser correction market. For instance, in December 2022, the U.S. Food and Drug Administration (FDA) recommended a new guidance for people considering the procedure of LASIK detailing the risks and potential complications involved like dry eyes and pain.

The FDA recommended a patient checklist that explains LASIK risks outlining the risk of complications from the surgery including permanent loss of vision, double vision, retinal detachment, dry eye, and pain.

Strict compliance with the FDA guidelines can serve as an effective counterbalance to the restraint.

Glare, halos, and double vision

A patient may have difficulty seeing at night after the surgery, which usually lasts a few days to a few weeks. They might notice increased light sensitivity, glare, and halos around bright lights or double vision. Even when a good visual result is measured under standard testing conditions, vision in dim light (such as at dusk or in fog) may be reduced to a greater degree after the surgery than before the surgery.

This can be overcome by arranging seminars, and workshops for healthcare professionals as well as for caregivers for the patients who have undergone the procedure, regarding the side effects of LASIK surgery.