Custom LASIK Surgery Market In-depth Research & Key Company Profiles are Abbott Medical Optics, Alcon Laboratories, Carl Zeiss, Bausch & Lomb, Nidek

The global custom LASIK surgery market size was valued at US$ 1,537.6 million in 2016 and is expected to expand at a CAGR of 9.7% during 2016 – 2024.

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.

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.

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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.

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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