With LASIK surgeries increasingly gaining a repute of being an advanced and highly effective treatment for vision related disorders, primarily myopia, hyperopia, astigmatism, and presbyopia, the global market for personalized LASIK surgery is demonstrating high growth in its size and valuation. In 2015, the market stood at US$1.6 bn in revenues. Increasing at a CAGR of 5.60% between 2016 and 2024, the market’s opportunity is anticipated to reach US$2.6 bn by the end of 2024. The rise in the prevalence of ocular disorders and diseases, increasing risk of infection caused by the continual usage of contact lens, and the emergence of novel ophthalmic technologies are likely to boost this market substantially over the forthcoming years.
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The market demonstrates an extremely competitive landscape and the rivalry between the leading players is likely to intensify further in the forthcoming years. As the market consists of a few key participants, a continued price war is expected between them, which consequently, will prompt them to enter into contracts with their end users, strengthening their relations. Mergers and acquisitions are also projected to take place frequently in this market in the near future, states the report.
As per TMR’s estimations, the global market for personalized LASIK, which was worth US$1.6 bn in 2015, is likely to expand at a healthy CAGR of 5.60% during the period from 2016 to 2024 and attain a value of US$2.6 bn by the end of the period of the forecast. Among all the end users, the hospital segment emerged as leading contributor to the global market for personalized LASIK surgeries in 2015 and is anticipated to maintain its position throughout the forecast period.