Laser vision correction is carried out for treatment of patients suffering from myopia. Rise in demand for minimally invasive therapies as well as increase in prevalence of refractive disorders are expected to fuel the market growth. Moreover, increase in research and development activities to treat refractive impairments will drive the market growth during this forecast period.
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Key Growth Drivers:
· Rise in number of product launches by key players in market is considered as key driving factor which is expected to boost the global laser vision correction market growth. For instance, in November 2015, Alcon which is division of Novartis AG had launched Contoura vision, first personalized LASIK procedure at the AAO (American Academy of Ophthalmology’s annual meeting in U.S. Contoura vision is a type of topography-guided LASIK treatment which developed to help surgeons or healthcare professionals who perform personalized laser procedures on patients. Also, in October 2018, Alcon had launched advanced WaveLight Refractive Suite which can be used with Contoura Vision to guide healthcare professionals and surgeons in detection of abnormality of eyes.
Market Segmentation:
- Global Laser Vision Correction Market is segmented into type such as Excimer Laser, and Femtosecond Laser, by procedure such as LASIK (Laser Assisted In-Situ Keratomileusis), PRK (Photo Refractive Keratectomy), SMILE (Small Incision Lenticule Extraction), and Others, by therapeutic application such as Cataract, Astigmatism, Presbyopia, Hyperopia, and Myopia. Further, market is segmented into end user such as Hospitals, Specialty Clinics, and Ambulatory Surgical Centers.
- Also, Global Laser Vision Correction Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Key Players:
· Carl Zeiss Meditec AG, Johnson & Johnson, Ziemer Group AG, Bausch Health Companies Inc, Schwind Eye-tech-solutions, SIE AG, Noavartis AG, Nidek co., Ltd, and Alcon.
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Trends Shaping the Market:
1. Technological Advancements in Laser Technologies:
o Femtosecond lasers and wavefront-guided lasers are providing more precise and safer results for patients, reducing the risk of complications and improving visual outcomes. Personalized treatments using advanced diagnostic tools are increasing the effectiveness of surgeries.
2. Rise in Demand for Non-Invasive Procedures:
o Patients increasingly prefer non-invasive surgeries over traditional options. Laser vision correction procedures, which are minimally invasive, offer faster recovery times and fewer complications, driving their popularity.
3. Growing Awareness and Acceptance:
o As awareness grows regarding the safety, effectiveness, and benefits of laser vision correction, more individuals are opting for these procedures. Increased education and marketing efforts by eye care professionals are contributing to the rise in patient demand.
By Type
· Excimer Laser
· Femtosecond Laser
By End User:
· Hospitals Specialty Clinics
· Ambulatory Surgical Centers
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