Global Custom LASIK Surgery Market: CAGR of 9.7% | Top Key Players Alcon Laboratories, Inc., Bausch & Lomb, Carl Zeiss, Inc., Abbott Medical Optics, Nidek, Inc., and Technolas Perfect Vision GmbH

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.

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Product portfolio expansion and partnerships with local players are key custom LASIK surgery market trends, which are expected to shape the industry in the near future. Moreover, companies are focusing on receiving regulatory approval for their products to differentiate their product offerings. For instance, Abbott received FDA approval for iDesign Advanced WaveScan Studio in 2015. Major players in the global custom LASIK surgery market include Alcon Laboratories, Inc., Bausch & Lomb, Carl Zeiss, Inc., Abbott Medical Optics, Nidek, Inc., and Technolas Perfect Vision GmbH.

Increasing incidence of refractive disorders coupled with high demand for eye laser treatment is expected to drive growth of the LASIK surgery market. For instance, according to the American Academy of Ophthalmology, 2016, an estimated 23% of the U.S. population aged above 40 years suffered from myopia. Only a fraction of the market is commercialized with custom LASIK surgery procedure. Key players in the market are majorly investing on research and development of custom LASIK technology. Companies such as Abbott Medical Optics, Alcon Laboratories, and Wavelight AG, have developed wavefront guided LASIK technology for individual treatment.

Companies engaged in custom LASIK surgery market are expected to generate significant return on investment (ROI) over the forecast period. The technology has clear added advantage over the conventional approach. While conventional eye exams detects only two corneal abnormalities (spherical and cylindrical), wavefront-guided LASIK system detects infinite number of abnormalities. Moreover, only 1-3% of patients experience LASIK eye surgery complications, making it a highly preferred technique for eye surgeries in the present scenario.

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