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LASIK Eye Surgery Market Size, Share, Trends, Growth, and Industry Insights by 2023
LASIK Eye Surgery Market Research Report by MarketResearchFuture.com with Forecast Period 2018 – 2022.
The Global LASIK Eye Surgery Market will expand at 6.5% CAGR between 2017 and 2022, projects Market Research Future (MRFR) in its latest report. LASIK stand for Laser-Assisted in Situ Keratomileusis (LASIK) and is one of the most commonly used surgical procedures for treating vision disorders such as hyperopia, astigmatism and myopia among others. The global prevalence of vision disorders has increased significantly in recent years. In 2015, close to 285 million people were diagnosed with vision impairment issues and number has continued to grow. Meanwhile, manufacturers of LASIK eye surgery devices are ramping up investments in research and development activities in order to improve their product portfolio and provide better treatment options.
In addition, many of the companies operating in the market are actively implementing merger and acquisition strategies to expand their operations to new markets and create stronger synergies. Over the years, government funding and support in R&D has also increased in the field of ophthalmology, hence creating greater possibilities of providing cost-effective eye care. The aforementioned factors are expected to influence the market throughout the forecast period. On the other hand, reducing the cost of vision correction treatments remains a formidable challenge for market players.
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Worldwide LASIK Eye Surgery Market - Competitive Landscape
The prominent contenders in the LASIK eye surgery market are Alcon Laboratories Inc. (U.S.), AMO Manufacturing USA, LLC (U.S.), Abbott Inc. (U.S.), Carl Zeiss, Inc. (Germany), LaserSight Technologies, Inc (U.S.), Bausch & Lomb Incorporated (U.S.), Nidek Inc. (Japan) to name a few.
Regional Analysis for Global LASIK Eye Surgery Market
The regional assessment of the LASIK eye surgery market finds that the Americas region dominates the LASIK eye surgery market due to the presence of sophisticated technology, the growing population affected with vision trouble, high healthcare costs, and amplifying government backing for research & development. Besides, augmented R&D activities and the focus of major firms in this region have motivated the growth of the market. Chief players in this market are strategizing to control a huge segment of the developing markets such as India and China. The European region holds the following position in the LASIK Eye Surgery market due to the government funding for research & development and accessibility to funds for research. This is anticipated to drive the European market in the forecasted period unceasingly. For example, countries like Germany and France are growing their investments in the healthcare domain in the coming years. The Asia Pacific region is the fastest escalating LASIK eye surgery market due to the occurrence of quickly developing healthcare technology, a vast patient population, and excessive healthcare expenditure. Also, the growing demand for original treatment methods in nations like India and China is expected to appear as the fastest increasing market across the world. The Middle East and African region hold the smallest share of the global market due to restricted knowledge of treatments, and meager access to treatment.
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Global LASIK Eye Surgery Market: Segmental Analysis
The segmental evaluation of the LASIK Eye Surgery market is conducted on the basis of vision error, region, types, and end-user. Based on the type, LASIK Eye Surgery is segmented into wavefront-optimized, topography-guided, wavefront-guided, and all laser. Based on the vision error, LASIK Eye Surgery is segmented into hyperopia, astigmatism, myopia, and others. Furthermore, the myopia segment is sub-segmented into induced, simple, or acquired, nocturnal, pseudomyopia, degenerative, and others. The Hyperopia segment is also sub-segmented into pathologic hyperopia, physiologic hyperopia, and others. The astigmatism is sub-segmented into hyperopic astigmatism, myopic astigmatism, mixed astigmatism, and others. Based on the end-user, the LASIK eye surgery is segmented into LASIK centers, hospitals, eye care clinic, and others. By regions, the LASIK eye surgery market comprises of Asia Pacific, Europe, North America, the Middle East, and Europe.
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The reports of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.