Pune, India, Jan.28, 2022(GLOBE NEWSWIRE) -- The global LASIK surgery market is expected to value USD 3.20 Billion million in 2021 and is expected to grow at a CAGR of 7.12 % during the forecast period, according to a recent market study by Quince Market Insights. LASIK surgery is a process which can accurately correct most myopia, hyperopia, and astigmatism levels. This procedure reshapes the front surface or cornea of the eye to enable light entering the eye and focus on retina. It can be an alternative to contact lenses or glasses.
Increasing number of people suffering from ophthalmic disorders is the major factor contributing to market growth. Increasing demands for minimally invasive surgical procedures with technological advancements in ophthalmic surgeries also contribute to the LASIK surgery market. Also, high cost involved in ophthalmic devices and some temporary issue such as decrease in tear production or dry eyes after surgery can restrain the growth of LASIK surgery market during the forecast period.
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Increasing technological advancements in ophthalmic equipment and rising emerging markets with growing geriatric populations are expected to create new opportunities for the LASIK surgery market. However, risks associated with eye surgeries such as dry eyes, temporary vision loss such as glare, halons or double vision can arise can pose a challenge to the LASIK surgery market.
Impact of COVID-19 on Global LASIK Surgery Market
The emergence of COVID-19 had an immense effect on hospitals and medical practices during the pandemic situation. The ophthalmic surgeries have also been affected during the COVID-19. Also, during the pandemic period, the ophthalmic surgeries can be risky as it can transmit virus which may lead to irritation.
COVID-19 had negatively affected the overall demand for LASIK surgeries during the pandemic situation. But, with the opening of several industries and medical practices, the market is expected to observe positive growth in its demand during the forecast period.
Global LASIK Surgery Market, by Type
Based on type, the LASIK surgery market is bifurcated into wavefront-guided, wavefront optimized, topography guided, and all laser. Among these, wavefront optimized segment holds the largest market share in 2021 and is expected to remain largest during the forecast period. The segment growth can be due to various advantages in visual acuity, higher-order aberrations (HOAs), and predictability. Also, wavefront optimized treatments can safely and effectively correct myopia in eyes with and without astigmatism. This factor is expected to contribute to segment growth.
Global LASIK Surgery Market, by Vision Error
Based on vision error, the LASIK surgery market is bifurcated into myopia, hyperopia, astigmatism, and others. Myopia segment holds the largest market share in 2021 and anticipated to hold its largest position during the coming forecast period. The segment growth can be attributed to growing population base and increasing prevalence of myopia with growing age.
Global LASIK Surgery Market, by End User
Based on end user, the LASIK surgery market is segmented into hospitals, LASIK centers, and eye care clinic. Among these, the eye care clinic segment is the fastest-growing market in 2021 and is expected to remain the fastest during the forecast period. The segment growth can be due to rapid growth in the development of special eye care clinics across the world.
Also, the standard treatment procedures in the clinic are attracting a greater number of patients along with developed ophthalmic surgical equipment, boosting the global LASIK surgery market.
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Global LASIK Surgery Market, by Region
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. Asia Pacific is the fastest-growing market segment in 2021 for LASIK surgery and is expected to remain the fastest market during the forecast period. The regional market growth can be due to rapidly growing healthcare technology, increasing population with ophthalmic disorders. Moreover, increasing demand for new minimal treatment methods is driving the LASIK surgery market in Asia Pacific.
Recent Developments in the Global LASIK Surgery Market
Some Key Findings of the Global LASIK Surgery Market Report Include:
For more information on this topic please visit our website report titled, “LASIK Surgery Market, by Types (Wavefront-Guided, Wavefront Optimized, Topography Guided, All Laser), Vision Error (Myopia, Hyperopia, Astigmatism, Others), End User (Hospitals, LASIK Centers, Eye Care Clinic), and Region (North America, Europe, Asia Pacific, Middle East and Africa, South America)”— in-depth analysis along with the table of contents (ToC).
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