LASIK Eye Surgery Devices Market

LASIK Eye Surgery Devices Market Size

LASIK Eye Surgery Devices Market size was valued at USD 1.8 billion in 2023 and is expected to exhibit growth at a CAGR of 5.5% from 2024 to 2032. The increasing prevalence of ophthalmic disorders and increasing demand for minimally invasive surgical procedures are significantly driving the market growth.  

The increasing prevalence of ophthalmic disorders, such as myopia, hyperopia, and astigmatism, is significantly driving the growth of the market globally. Factors contributing to this rise include aging populations, increased screen time, and lifestyle changes leading to higher rates of vision impairment. According to the World Health Organization, over 2.2 billion people worldwide suffer from vision impairment or blindness, with at least 1 billion cases being preventable or treatable. This growing demand for corrective procedures, coupled with advancements in LASIK technology, is propelling the market's expansion as more patients seek effective, long-term solutions.

Additionally, patients and healthcare providers alike favor LASIK due to its minimal recovery time, reduced risk of complications, and precise outcomes compared to traditional surgical methods. This preference for less invasive, more efficient solutions continues to boost the adoption of LASIK technologies and expand the market.

LASIK eye surgery devices refer to the specialized medical instruments and equipment used during LASIK (Laser-Assisted In Situ Keratomileusis) eye surgery, a popular refractive procedure designed to correct vision problems such as myopia, hyperopia, and astigmatism. These devices typically include excimer lasers, which reshape the cornea by removing microscopic layers of tissue and femtosecond lasers, which create the corneal flap with high precision.

LASIK Eye Surgery Devices Market Trends

Technological advancements in LASIK eye surgery devices are significantly contributing to the market growth, especially in developed countries where cutting-edge innovations are rapidly adopted. These advancements enhance the precision, safety, and efficacy of LASIK procedures, driving increased patient interest and market expansion.

• Modern femtosecond lasers have revolutionized LASIK by enabling more precise and predictable creation of the corneal flap. This technology reduces the risk of complications and improves the overall outcomes of the surgery. Femtosecond lasers allow for bladeless LASIK procedures, which are safer and more effective.
  
• Additionally, the development of Wavefront-guided LASIK technology uses detailed measurements of the eye’s unique aberrations to tailor the laser treatment to each patient’s specific needs. This customization improves visual acuity and reduces issues such as night vision problems and glare, offering superior results compared to traditional LASIK methods.
  
• Moreover, the recent innovations include integrated ophthalmology diagnostic systems that combine multiple imaging technologies into a single platform. These systems provide comprehensive data on corneal thickness, shape, and other parameters, leading to more informed and accurate surgical planning. These technological advancements are driving the growth of the market by enhancing the effectiveness and safety of the procedures, thus increasing their appeal to patients and practitioners alike in developed countries.
  

LASIK Eye Surgery Devices Market Analysis

Based on product, the market is classified into femtosecond laser and excimer laser. The femtosecond laser segment generated the highest revenue of USD 837.6 million in 2023.

• Femtosecond lasers provide greater precision in creating the corneal flap compared to traditional excimer lasers. This precision reduces the risk of complications and improves the overall outcomes of the surgery, making it the preferred choice for many ophthalmologists.
  
• Additionally, femtosecond lasers enable bladeless LASIK procedures, which offer a safer alternative to the mechanical microkeratomes used in older methods. This advancement has led to higher adoption rates and growing market share for femtosecond lasers.
  

Based on application, the LASIK eye surgery devices market is categorized into myopia, hyperopia, and other applications. The myopia segment dominated the market by obtaining 34.4% of market share in 2023.

• Myopia or nearsightedness is one of the most common refractive errors worldwide. The increasing prevalence of myopia, particularly among younger populations due to factors like increased screen time and reduced outdoor activities, drives a significant demand for LASIK procedures aimed at correcting this condition.
  
• Myopia correction has been a major focus of LASIK surgery since its inception, with many patients seeking LASIK as a solution to their nearsightedness. This long-standing demand contributes to the dominance of myopia-related procedures in the market.
  

Based on end-use, the LASIK eye surgery devices market is segmented into LASIK eye centers, hospitals, ambulatory surgical centers, ophthalmic clinics, and other end-users. The LASIK eye centers segment dominated the market in 2023 and is anticipated to reach USD 893.7 million by 2032.

• LASIK eye centers are highly specialized facilities dedicated exclusively to performing LASIK and other refractive surgeries. This specialization allows them to invest in the latest technology and provide a high volume of procedures, making them the leading end-users in the market.
  
• Patients often prefer LASIK eye centers due to their focused expertise, advanced equipment, and tailored care for refractive surgeries. This preference drives a higher patient volume to these centers compared to more generalized healthcare facilities.
  

North America LASIK eye surgery devices market accounted for USD 639.3 million market revenue in 2023 and is anticipated to grow at CAGR of 4.5% between 2024 – 2032 period.

• The high prevalence of myopia and hyperopia in North America, driven by lifestyle factors such as increased screen time and urbanization, is significantly boosting the demand for LASIK eye surgery devices. This growing need for vision correction solutions is a key market driver.
  
• Additionally, the well-established healthcare infrastructure in North America supports the adoption of advanced LASIK technologies. Availability of skilled professionals and cutting-edge surgical facilities further drives the growth of the market.
  

U.S. LASIK eye surgery devices market accounted for USD 597.4 million market revenue in 2023 and is estimated to hold substantial share between 2024 – 2032 period.

• In the U.S., growing awareness and acceptance of LASIK as a safe and effective alternative to glasses and contact lenses are fueling demand and driving market growth. This cultural shift is leading more individuals to opt for LASIK surgery, further boosting the market.
  
• Additionally, the relatively high disposable income in the U.S. enables more people to afford elective procedures like LASIK. This economic factor significantly contributes to the robust growth of the market in the country.
  

UK LASIK eye surgery devices market is projected to grow remarkably in the coming years.

• In the UK, the introduction of cutting-edge LASIK technologies, such as wavefront-guided and femtosecond laser systems, is driving market growth. These technologies offer better outcomes, making LASIK more appealing to patients and clinicians.
  
• Additionally, there is a growing preference for minimally invasive procedures in the UK, including LASIK, which is viewed as a quick and efficient solution for vision correction. This trend is propelling the adoption of LASIK eye surgery devices.
  

Japan holds a dominant position in the Asia Pacific LASIK eye surgery devices market.

• Japan’s aging population, which faces a higher incidence of vision problems like presbyopia and other refractive errors, is significantly driving demand for LASIK eye surgery. As more individuals opt for corrective procedures, the market for LASIK devices continues to expand.
  
• Moreover, Japan’s reputation for rapidly adopting advanced medical technologies, including those used in LASIK surgeries, is further propelling the growth of the market. This technological advantage strengthens the market's expansion in the country.
  

LASIK Eye Surgery Devices Market Share

The market is characterized by the presence of several key players and a focus on technological innovation and strategic partnerships. Companies are investing in advanced technology driven devices that provide better patient outcomes. Partnerships between healthcare providers, clinics, and manufacturing companies are also increasing, driving innovation and expanding the adoption of LASIK eye surgery devices across various healthcare sectors.

LASIK Eye Surgery Devices Market Companies

Prominent players operating in the LASIK eye surgery devices industry include:

• Alna-Medicalsystem AG & Co. KG
• Bausch & Lomb Incorporated (Bausch Health)
• Carl Zeiss Meditec AG
• Coherent Corp.
• iVIS Technologies
• Johnson & Johnson
• Kera harvest incorporation
• LensAR, Inc
• NIDEK CO., LTD.
• OTL 100 CNC-A
• SCHWIND eye-tech-solutions
• Ziemer Ophthalmic Systems
  

LASIK Eye Surgery Devices Industry News:

• In January 2024, Bausch + Lomb Corporation announced that the U.S. Food and Drug Administration (FDA) approved the TENEO Excimer Laser Platform for laser-assisted in situ keratomileusis (LASIK) vision correction surgery for myopia and myopic astigmatism. This approval may increase the company’s customer base and may generate revenue.  
  
• In April 2023, Johnson & Johnson Vision announced that its ELITA Femtosecond Laser had received FDA 510(k) clearance for the creation of LASIK flaps. This approval enhanced the company’s competitiveness in the market.  
  

The LASIK eye surgery devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Product

• Femtosecond laser
• Excimer laser

Market, By Application

• Myopia
• Hyperopia
• Astigmatism
• Other applications

Market, By End-use

• Lasik eye centers
• Hospitals
• Ambulatory surgical centers
• Ophthalmic clinics
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa