LASIK (laser-assisted in situ keratomileusis) is a corrective eye surgery used to treat myopia, hypermetropia or astigmatism. LASIK surgery is rapidly gaining popularity to treat eye disorders as it is a permanent alternative to lifelong need of wearing spectacles or lenses. It is a type of refractive surgery in which the curvature of the corneal surface of the eye is altered or reshaped to correct the vision. In a LASIK surgery procedure a laser or microkeratome is used to raise the flap of the cornea and a part of the underlying tissue is removed. This procedure alters the way cornea focuses the incoming light ray on the retina of the eye leading to a clearer vision.
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Personalized or customized LASIK surgery is a safer version of the traditional LASIK procedure in which the latest laser vision technology is used to take 3-dimensional measurements of the individual’s eye and enhances the ophthalmologist’s ability to re-shape the cornea. Personalized LASIK surgery detects the unique characteristics of each person's eyes and provide a more precise vision correction. This permits a more accurate, individualized vision rectification results to be achieved. According to the American Academy of Ophthalmology, around 34% of U.S. population uses glasses or lenses due to eye disorders.
An estimated 25% of people around the world opt for laser eye sight correction surgeries. Improvement of technologically innovative devices presenting high sensitivity and speed, increasing demand for minimally invasive surgeries, user-friendliness and owing to associated benefits such as short surgery time, and side effects etc. are anticipated to drive the market for personalized LASIK surgeries. Moreover, the personalized LASIK surgery market is also driven by the incidence and prevalence rate of vision related disorders. Additionally, benefits such as cost effectiveness, fewer side effects and less complications are also driving patients towards opting for this treatment.
The global personalized LASIK surgery market is segmented on the basis of surgery type, indication and regional presence:
Segmentation based on surgery type
Segmentation based on indication
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Personalized LASIK is a cutting-edge technology because it has the potential to improve the optical sharpness measured by the standard 20/20 eye chart, but also the precision, in terms of contrast sensitivity and fine detail. This also leads to a reduced risk of post-surgery difficulties, such as glare, halos, etc. With the increasing incidences of vision disorders personalized LASIK surgery market is increasing very rapidly. Moreover significant increase in the healthcare spending and rise in disposable income will boost the personalized LASIK surgery market during the forecast period.
Geographically the personalized LASIK surgery market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific and MEA region.
High affordability in North America makes the region major market for personalized LASIK surgery. North America followed by Europe are currently leading in the personalized LASIK surgery market as high lifestyle pattern and awareness in these region and availability of all the types of minimally invasive advanced customized LASIK surgeries. The Personalized LASIK surgery market in Asia Pacific is expected to deliver tremendous growth due to the growth in per capita income in Asian countries and increase in procedure awareness. With the growing access of public with healthcare professional and expanding economy china is expected to be the fastest growing market for Personalized LASIK surgery.
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Some major companies in the Personalized LASIK surgery market are Alcon Laboratories, Inc., Abbott Medical Optics (AMO), Bausch & Lomb, Carl Zeiss, Inc., and Nidek, Inc.