LASIK Laser System Market Analysis By Type(Spot-scanning Lasers, Slit-scanning Lasers, Wavefront-guided Lasers), By Vision Error(Myopia, Hyperopia, Astigmatism), By End-User(Hospitals, Clinics) & Forecast 2024-2035
- PUBLISHED ON
- 11/23/2022
- NO OF PAGES
- 278
- CATEGORY
- Healthcare & Life Sciences
The global LASIK laser system market size was valued at USD 1.6 billion in 2021 and is projected to reach around USD 2 billion in 2030 exhibiting a CAGR of 5.0% in the forecasted period. The rising demand for laser eye surgeries and growing awareness about efficiency & safety, and technological developments are anticipated to boost the market growth. On the other hand, the growing cost of ophthalmic devices and risk related to eye surgeries are the restraining factors limiting the growth.
Since laser eye surgery is a practical form of vision correction, more and more people are influenced of its profits. As a result, they choose the permanence and suitability of laser surgery as an alternative of using glasses or contact lenses. Resulting in making LASIK laser eye surgery the most popular form of laser eye surgery worldwide, and for a good reason. When related with alternative forms of laser eye surgery like LASEK, it has faster recovery time, greater precision, and the option of correcting a more complete range of eye prescriptions. Furthermore, it is a safe, efficient treatment with very low risk and can be carried out fast with little to no discomfort and with a littler recovery period.
Source: Frontiers Media S.A., 2022
Considering the current scenario, COVID-19 has left a drastic global public health issue that has impacted almost every business. Its long-term significances are anticipated to boost the industry growth in the stated period. COVID-19 pandemic had had a negative impact on the LASIK laser system market. But, with the upliftment of numerous industries and medical practices, the market is again expected to witness positive growth.
Type Insights
Based on type, the market is segmented into spot-scanning lasers, slit-scanning lasers, wavefront-guided lasers. The wavefront-guided lasers segment is anticipated to hold the maximum market share. The factors can be accredited to less side-effects of treatment and a high degree of accuracy.
Vision Error Insights
On the basis of vision error, the market is bifurcated into myopia, hyperopia, and astigmatism. The myopia segment is expected to hold the most substantial CAGR in the estimated period owing to the increasing number of myopia in the population across the globe.
End User Insights
On the basis of end user, the market is bifurcated into hospitals, clinics, and others. Hospitals are predicted to hold the largest market share. The factors can be attributed for the rising number of patients selecting hospitals for eye surgical procedures and an increasing number of hospitals in developing countries.
Region Insights
North American region accounted for the largest market share as there is a high rate of preference for vision corrective surgeries. Other factors boosting the market are the accessibility of advanced technologies and the high healthcare expenditure of the target population. For example, as per the 2021 report of the American Optometric Association, myopia affects closely 30% of the US population. While the precise cause of myopia is unknown, there is important evidence that many people inherit myopia, or at least the trend to develop myopia. If one or both parents are near-sighted, there is an increased chance their children will be near-sighted. Moreover, according to ARVO Annual Meeting Abstract, in June 2022, the complete prevalence of myopia was 33%, hyperopia was 29% and Astigmatism was 66% in North Canada. Moreover, as per the study by Optometry and Vision Science, in November 2021, the prevalence of myopia was 36.11%, hyperopia was 1.49% and astigmatism was 29.17% in children of Northern Mexico. Henceforth, the high prevalence of vision disorders is expected to fuel the market growth in the region.
Asia-Pacific is anticipated to have highest growth in the LASIK laser system market owing to growing number of refractive errors, surging eye care expenditure, increasing government initiatives, and growing number of eye care centers.
Key Companies Insights
To stay competitive in the total market, players are using new approaches such as new product development, mergers and acquisitions, joint ventures, and geographic expansions. Some of the key players working in the global LASIK laser system market include:
· Johnson & Johnson
· Alcon Inc.
· Bausch Health Companies Inc.
· Carl Zeiss AG
· Lasersight Technologies Inc.
· Nidek Co. Ltd
· Ziemer Ophthalmic Systems
· Stryker
· Medtronic
· Other players
Some of the Recent Developments:
· In May 2022, Sohana Hospital, Mohali, India, launched the first LASIK treatment to limit the use of spectacles. The Contoura Vision LASIK surgery can be accomplished in 10 minutes.
· In December 2021, Eye-Q Super Speciality Eye Hospital in Surat, India, re-launched one of its most innovative LASIK machines, I Lasik, to give bladeless operations for youth who want to get rid of their spectacles.
Segments
By Type
· Spot-scanning Lasers
· Slit-scanning Lasers
· Wavefront-guided Lasers
By Vision Error
· Myopia
· Hyperopia
· Astigmatism
By End-User
· Hospitals
· Clinics
· Others
By RegionNorth America
United States
Canada
Mexico
Europe
Germany
France
UK
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Brazil
Middle East & Africa
Turkey
GCC Countries
Egypt
South Africa
Global LASIK Laser System Market: Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.
Reasons to Purchase LASIK Laser System Market Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Historic Year: 2016-2022
Forecast: 2024-2035
1.1 Product Overview and Scope of LASIK Laser System
1.2 LASIK Laser System Segment by Type
1.2.1 Global LASIK Laser System Sales Growth Rate Comparison by Type (2022-2030)
1.2.2 Spot-scanning Lasers
1.2.3 Slit-scanning Lasers
1.2.4 Wavefront-guided Lasers
1.3 LASIK Laser System Segment by Application
1.3.1 LASIK Laser System Sales Comparison by Application: (2022-2030)
1.3.2 Hospital
1.3.3 Clinic
1.3.4 Other
1.4 Global LASIK Laser System Market Size Estimates and Forecasts
1.4.1 Global LASIK Laser System Revenue 2016-2030
1.4.2 Global LASIK Laser System Sales 2016-2030
1.4.3 LASIK Laser System Market Size by Region: 2016 Versus 2022 Versus 2030
2 LASIK Laser System Market Competition by Manufacturers
2.1 Global LASIK Laser System Sales Market Share by Manufacturers (2016-2021)
2.2 Global LASIK Laser System Revenue Market Share by Manufacturers (2016-2021)
2.3 Global LASIK Laser System Average Price by Manufacturers (2016-2021)
2.4 Manufacturers LASIK Laser System Manufacturing Sites, Area Served, Product Type
2.5 LASIK Laser System Market Competitive Situation and Trends
2.5.1 LASIK Laser System Market Concentration Rate
2.5.2 The Global Top 5 and Top 10 Largest LASIK Laser System Players Market Share by Revenue
2.5.3 Global LASIK Laser System Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.6 Manufacturers Mergers & Acquisitions, Expansion Plans
3 LASIK Laser System Retrospective Market Scenario by Region
3.1 Global LASIK Laser System Retrospective Market Scenario in Revenue by Region: 2016-2021
3.2 Global LASIK Laser System Retrospective Market Scenario in Sales by Region: 2016-2021
3.3 North America LASIK Laser System Market Facts & Figures by Country
3.3.1 North America LASIK Laser System Sales by Country
3.3.2 North America LASIK Laser System Revenue by Country
3.3.3 United States
3.3.4 Canada
3.3.3 Mexico
3.4 Europe LASIK Laser System Market Facts & Figures by Country
3.4.1 Europe LASIK Laser System Sales by Country
3.4.2 Europe LASIK Laser System Revenue by Country
3.4.3 Germany
3.4.4 France
3.4.5 UK
3.4.6 Italy
3.4.7 Russia
3.5 Asia Pacific LASIK Laser System Market Facts & Figures by Region
3.5.1 Asia Pacific LASIK Laser System Sales by Region
3.5.2 Asia Pacific LASIK Laser System Revenue by Region
3.5.3 China
3.5.4 Japan
3.5.5 South Korea
3.5.6 India
3.5.7 Australia
3.5.8 Indonesia
3.5.9 Thailand
3.5.10 Malaysia
3.5.11 Philippines
3.5.12 Vietnam
3.6 Latin America LASIK Laser System Market Facts & Figures by Country
3.6.1 Latin America LASIK Laser System Sales by Country
3.6.2 Latin America LASIK Laser System Revenue by Country
3.6.3 Brazil
3.7 Middle East and Africa LASIK Laser System Market Facts & Figures by Country
3.7.1 Middle East and Africa LASIK Laser System Sales by Country
3.7.2 Middle East and Africa LASIK Laser System Revenue by Country
3.7.3 Turkey
3.7.4 GCC Countries
3.7.5 Egypt
3.7.6 South Africa
4 Global LASIK Laser System Historic Market Analysis by Type
4.1 Global LASIK Laser System Sales Market Share by Type (2016-2021)
4.2 Global LASIK Laser System Revenue Market Share by Type (2016-2021)
4.3 Global LASIK Laser System Price by Type (2016-2021)
5 Global LASIK Laser System Historic Market Analysis by Application
5.1 Global LASIK Laser System Sales Market Share by Application (2016-2021)
5.2 Global LASIK Laser System Revenue Market Share by Application (2016-2021)
5.3 Global LASIK Laser System Price by Application (2016-2021)
6 Key Companies Profiled
6.1 Johnson & Johnson (AMO)
6.1.1 Johnson & Johnson (AMO) Corporation Information
6.1.2 Johnson & Johnson (AMO) Description and Business Overview
6.1.3 Johnson & Johnson (AMO) LASIK Laser System Sales, Revenue and Gross Margin (2016-2021)
6.1.4 Johnson & Johnson (AMO) Product Portfolio
6.1.5 Johnson & Johnson (AMO) Recent Developments/Updates
6.2 Nidek
6.2.1 Nidek Corporation Information
6.2.2 Nidek Description and Business Overview
6.2.3 Nidek LASIK Laser System Sales, Revenue and Gross Margin (2016-2021)
6.2.4 Nidek Product Portfolio
6.2.5 Nidek Recent Developments/Updates
6.3 Alcon Laboratories
6.3.1 Alcon Laboratories Corporation Information
6.3.2 Alcon Laboratories Description and Business Overview
6.3.3 Alcon Laboratories LASIK Laser System Sales, Revenue and Gross Margin (2016-2021)
6.3.4 Alcon Laboratories Product Portfolio
6.3.5 Alcon Laboratories Recent Developments/Updates
6.4 Carl Zeiss
6.4.1 Carl Zeiss Corporation Information
6.4.2 Carl Zeiss Description and Business Overview
6.4.3 Carl Zeiss LASIK Laser System Sales, Revenue and Gross Margin (2016-2021)
6.4.4 Carl Zeiss Product Portfolio
6.4.5 Carl Zeiss Recent Developments/Updates
6.5 Wavelight AG
6.5.1 Wavelight AG Corporation Information
6.5.2 Wavelight AG Description and Business Overview
6.5.3 Wavelight AG LASIK Laser System Sales, Revenue and Gross Margin (2016-2021)
6.5.4 Wavelight AG Product Portfolio
6.5.5 Wavelight AG Recent Developments/Updates
6.6 Bausch & Lomb Surgical
6.6.1 Bausch & Lomb Surgical Corporation Information
6.6.2 Bausch & Lomb Surgical Description and Business Overview
6.6.3 Bausch & Lomb Surgical LASIK Laser System Sales, Revenue and Gross Margin (2016-2021)
6.6.4 Bausch & Lomb Surgical Product Portfolio
6.6.5 Bausch & Lomb Surgical Recent Developments/Updates
6.7 Summit Technology
6.6.1 Summit Technology Corporation Information
6.6.2 Summit Technology Description and Business Overview
6.6.3 Summit Technology LASIK Laser System Sales, Revenue and Gross Margin (2016-2021)
6.4.4 Summit Technology Product Portfolio
6.7.5 Summit Technology Recent Developments/Updates
7 LASIK Laser System Manufacturing Cost Analysis
7.1 LASIK Laser System Key Raw Materials Analysis
7.1.1 Key Raw Materials
7.1.2 Key Suppliers of Raw Materials
7.2 Proportion of Manufacturing Cost Structure
7.3 Manufacturing Process Analysis of LASIK Laser System
7.4 LASIK Laser System Industrial Chain Analysis
8 Marketing Channel, Distributors and Customers
8.1 Marketing Channel
8.2 LASIK Laser System Distributors List
8.3 LASIK Laser System Customers
9 LASIK Laser System Market Dynamics
9.1 LASIK Laser System Industry Trends
9.2 LASIK Laser System Growth Drivers
9.3 LASIK Laser System Market Challenges
9.4 LASIK Laser System Market Restraints
10 Global Market Forecast
10.1 LASIK Laser System Market Estimates and Projections by Type
10.1.1 Global Forecasted Sales of LASIK Laser System by Type (2022-2030)
10.1.2 Global Forecasted Revenue of LASIK Laser System by Type (2022-2030)
10.2 LASIK Laser System Market Estimates and Projections by Application
10.2.1 Global Forecasted Sales of LASIK Laser System by Application (2022-2030)
10.2.2 Global Forecasted Revenue of LASIK Laser System by Application (2022-2030)
10.3 LASIK Laser System Market Estimates and Projections by Region
10.3.1 Global Forecasted Sales of LASIK Laser System by Region (2022-2030)
10.3.2 Global Forecasted Revenue of LASIK Laser System by Region (2022-2030)
11 Research Finding and Conclusion
12 Methodology and Data Source
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Source
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Author List
12.4 Disclaimer
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
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Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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