LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global LASIK surgery market is expected to grow at a CAGR of almost 6% during the forecast period.
This research report, titled, ‘Global LASIK Surgery Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The LASIK surgery market is consolidated with high competition among the leading players such as Novartis, Johnson & Johnson, Valeant Pharmaceuticals International, Carl Zeiss, and Nidek while other players have limited impact. The major players are competing to increase their market share by product portfolio expansion, strategic collaborations, M&A, partnerships, and R&D.
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Technavio’s healthcare and life sciences research analysts categorize the global LASIK surgery market into the following segments by technology. They are:
- Wavefront guided LASIK
- Wavefront-optimized LASIK
- Topography LASIK
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The top three revenue-generating technology segments of the global LASIK surgery market are discussed below:
Wavefront guided LASIK
The wavefront guided LASIK surgery segment accounted for the largest share of the global LASIK surgery market. Wavefront-guided LASIK also referred to as custom LASIK, is an advanced technology that uses all the optical aberrations of the eye, including the refractive prescription, to correct vision. Using an aberrometer, it measures optical aberrations by taking the "finger print" of the eye, and it is used to correct vision using a sophisticated computer-controlled laser.
According to Ramakrishna Edupulapati, a lead orthopedics and medical devices research analyst from Technavio, “Many manufacturers are providing wavefront guided LASIK equipment to hospitals and clinics at affordable installment payments and on a contractual basis. Also, most hospitals and ophthalmic clinics are offering installment payments and discounts to the patients undergoing this surgery. The wavefront guided LASIK technology is expected to dominate the global LASIK surgery market in the coming years.”
Wavefront-optimized LASIK
Wavefront optimized LASIK surgery accounted for the second largest share in the global LASIK surgery market. Wavefront optimized LASIK is another type of laser treatment available on the wavelight laser. For instance, WaveLight Allegretto Wave Eye-Q Laser by Novartis is one of the major wavefront optimized LASIK devices available in the market. Wavefront optimized LASIK treatment is based on the refractive prescription in eyeglasses.
“The cost of wavefront optimized LASIK procedures is low compared with wavefront guided LASIK procedures. It is also faster than the wavefront guided technology and reduces the additional expense of the aberrometer. Hence, even after the introduction of wavefront guided LASIK procedures, many end-users are still preferring to use wavefront optimized LASIK procedures,” adds Ramakrishna.
Topography LASIK
Topography guided LASIK surgery is the latest development in LASIK technology that provides a more accurate method of measuring a patient's eye structure and therefore personalizing their LASIK procedure. A surgeon can obtain more detailed information and measurements on the structure of the eye and cornea, which allows customization of the LASIK procedure. It is mainly advised for patients with vision problems associated with keratoconus, ectasia, post-keratoplasty, irregular astigmatism, previous injuries, or corneal scars.
The advantages of topography guided LASIK procedures such as they are pain-free and quick, regulatory acceptance of key instruments and few side-effects are driving the market. New topography based programs such as the CATz program by Nidek in the US are also driving the market. Topography guided LASIK is a popular option in many countries outside the US and is considered to be proven and reliable.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Carl Zeiss
- Johnson & Johnson
- Nidek
- Novartis
- Valeant Pharmaceuticals International
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