Market Scope
Market Research Future (MRFR) assessed the global LASIK eye surgerys market 2021 in the analysis period till 2027. As per MRFR study, the global LASIK eye surgerys market is expected to expand at 6.5% CAGR during the evaluation period (from 2022 to 2027). By 2027, the global LASIK eye surgerys market is expected to garner high revenue.
Market Drivers and Restraints
The rise in demand for Laser-Assisted In Situ Keratomileusis (LASIK) surgeries to treat myopia, astigmatism, and hyperopia among other visual impairments due to their high precision is expected to prompt the market expansion. People are inclined towards improving their aesthetic appeal and often want to eliminate the uses of specks. The increasing popularity of corrective eye surgery owing to technologically advanced instruments can add to the market expansion that can favor the LASIK eye surgeries market in the review period. Other causes, such as, availability of expertise and the presence of an affordable healthcare setup are expected to prompt the market rise in the years to come. The availability of personalized solutions can benefit the market in the approaching years.
Moreover, financial support from governments across the world for effective research and development to improve the product line is likely to fuel the LASIK eye surgery market in the approaching years. The increasing price for treatment can hinder the market expansion. However, the accuracy of LASIK surgery and their growing success rate are forces that are likely to counter the market rise.
Market Key Players
LaserSight Technologies, Inc (U.S.), Abbott Inc. (U.S.), Nidek Inc. (Japan), Alcon Laboratories Inc. (U.S.), Bausch Lomb Incorporated (U.S.), AMO Manufacturing USA, LLC (U.S.), and Carl Zeiss, Inc. (Germany) are some top-notch companies that are operating in the worldwide LASIK Eye Surgery market.
Segment Evaluation
The segment study of the global LASIK Eye Surgery Market is based on end user, types, and vision error.
The type-based segments of the LASIK eye surgery market are wavefront-guided, wavefront optimized, topography guided, and all laser.
The vision error-based segments of the LASIK eye surgery market are astigmatism, myopia, and hyperopia among others. The myopia segment studied nocturnal, simple, induced or acquired, degenerative, and pseudomyopia among others. The hyperopia segment is sub-segmented into physiologic hyperopia and pathologic hyperopia among others. The segment of astigmatism studies mixed astigmatism, myopic astigmatism, hyperopia and astigmatism among others.
The end user-based segments of the LASIK eye surgery market are LASIK centers, hospitals, and eye care clinics among others.
Regional Analysis
In North America, the LASIK Eye Surgery market is expected to grow at a high CAGR by 2027. The availability of well-developed technology and their early adoption by several healthcare facilities can support the market rise in the near future. The presence of a large patient pool with vision impairment in the region and the need to increase management facilities for visually handicapped people can add to the market expansion. The rise in healthcare spending, and growing support from governments in research development to fund RD activities are other causes that are expected to fuel the growth of the market.
In Europe, the LASIK Eye Surgery market is expected to gain decent revenue owing to the government support for research and development of innovations. The availability of a robust RD base in the region is expected to impact Europe LASIK eye surgery market in the near future. Germany and France are identified as top investments in the region's healthcare sector that is expected to achieve long-term benefit for the market.
In Asia Pacific, the LASIK Eye Surgery market is noted as a fast growing market. The rapid development in healthcare technology and surge in healthcare expenditure as the patient population is observed to increase can favor the APAC market in the near future. The surge in demand for latest and efficient treatment methods in countries, such as; China and India, is expected to garner decent revenue by 2027
In the Middle East and Africa region, the LASIK eye surgery market is likely to expand at a moderate growth rate owing to limited knowledge about diseases, and lack of expertise in managing treatment can favor the market growth in the years to come. However, the investment by some top-notch companies in the region to improve healthcare infrastructure is expected to benefit the market in the years to come.
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