LASIK Eye Surgery Devices Market Analysis

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.