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Personalized LASIK Surgery Market 2024 Production Analysis, Latest Trends, Industry Share And Forecast To 2033
Personalized LASIK Surgery Market Share
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According to The Business Research Company's, The personalized LASIK surgery market size has grown strongly in recent years. It will grow from $2.46 billion in 2023 to $2.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to growing public awareness about Lasik surgery, the rising prevalence of refractive errors, the expansion of refractive surgery centers, improved patient safety and outcomes, and government and regulatory support.
The personalized LASIK surgery market size is expected to see strong growth in the next few years. It will grow to $3.45 billion in 2028 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to a growing geriatric population, a rising incidence of vision disorders, increasing awareness and education, growing healthcare infrastructure, and the and the growth of medical tourism. Major trends in the forecast period include advanced LASIK platforms, the adoption of laser-assisted systems, technological innovations, enhanced patient experience, and personalized treatment options.
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Market Drivers and Trends:
The rising burden of ophthalmic diseases is expected to propel the growth of the personalized LASIK surgery market going forward. Ophthalmic diseases are medical conditions affecting the eyes and vision, including glaucoma, cataracts, macular degeneration, and diabetic retinopathy. The rising burden of ophthalmic diseases is due to an aging population, increased prevalence of chronic conditions such as diabetes, and lifestyle factors such as prolonged screen time, which collectively contribute to a higher incidence of eye disorders. Personalized LASIK surgery helps address ophthalmic diseases by providing tailored vision correction solutions that improve accuracy, effectiveness, and patient outcomes for myopia and astigmatism. For instance, in September 2024, Eurostat, a Luxembourg-based government agency, in 2022, cataract surgery, which involves removing the eye's natural lens, was performed 4.73 million times across EU countries. Therefore, the rising burden of ophthalmic diseases will drive the growth of the personalized LASIK surgery market.
Major companies operating in the personalized LASIK surgery market are focusing on adopting smarter LASIK platforms, such as laser-assisted systems, to improve precision, enhance patient outcomes, and streamline surgical procedures. Laser-assisted systems are advanced technologies used in eye surgery that employ lasers to precisely reshape the cornea for vision correction, offering greater accuracy and customization than traditional methods. For instance, in January 2024, Bausch + Lomb Corporation, a Canada-based eye health company, received FDA approval for its TENEO Excimer Laser Platform for LASIK surgery to correct myopia and myopic astigmatism. The platform features an advanced eye-tracker operating at 1740 Hz, three times faster than the laser's repetition speed, and a 500 Hz laser that offers the quickest ablation time among excimer lasers in the U.S., achieving approximately 1.2 seconds per diopter.
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Major Key Players of the Market:
Abbott Laboratories, Stryker Corporation, Carl Zeiss AG, Alcon Inc., Bausch Health Companies Inc., Medtronic plc, Santen Pharmaceutical Co. Ltd., Topcon Corporation, Johnson & Johnson Vision Care Inc., STAAR Surgical Company, Optical Express Ltd., The LASIK Vision Institute LLC, LASIK MD Inc., Centre For Sight Limited, Technolas Perfect Vision GmbH, Optegra Eye Health Care Ltd., IntraLase LLC, SCHWIND eye-tech-solutions GmbH, Optimax Clinics Limited, NIDEK Co. Ltd., Shanghai New Eyes Medical Inc., Ziemer Ophthalmic Systems AG, LaserSight Technologies Inc., Presbia PLC
Personalized LASIK Surgery Market 2024 Key Insights:
• The personalized LASIK surgery market size is expected to see strong growth in the next few years. It will grow to $3.45 billion in 2028 at a compound annual growth rate (CAGR) of 7%.
• Impact Of Rising Ophthalmic Disease Burden On Personalized LASIK Surgery Market Growth
• Revolutionizing LASIK Surgery With Cutting-Edge Laser Technologies
• North America was the largest region in the personalized LASIK surgery market in 2023
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