Lasik Eye Surgery Devices Market drivers of growth analyzed in a new research report
Category: #health  By Rahul Varpe  Date: 2020-04-17
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Lasik Eye Surgery Devices Market drivers of growth analyzed in a new research report

Growth in the number of visual impairment cases has led to a greater implementation of Lasik eye surgeries, thereby proliferating the overall industry size. The market has emerged as one of the most lucrative verticals in recent years and is now projected to observe a highly remunerative growth trend in the forthcoming timeframe.

Surging advantages linked with Lasik eye surgery devices is the major factor that is likely to augment the market outlook through 2025. The level of pollution across the world is growing each day and people are regularly being exposed to polluted air. This is the primary cause of visual impairments like astigmatism, farsightedness, and nearsightedness.

Along with growing visual defects, many initiatives taken by the government and various other regulatory organizations to offer secure healthcare facilities to patients that are BPL (below poverty line) would likely be a key factor responsible for market expansion through the forecast timeframe. In addition, the slew of benefits offered by new technology would add up to the industry share in the future.

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Citing an instance, RSBY (Rashtriya Swasthya Bima Yojna) offers free eye surgeries across government hospitals for the treatment of eye conditions. In addition, the state government of India plans to offer several free healthcare facilities to BPL households to avail healthcare services.

All the aforementioned factors would majorly impel the growth of global Lasik eye surgery devices market through 2025.

As per a research report by Global Market Insights Inc., global Lasik eye surgery devices market is estimated to surpass $1.9 billion through 2025.

Based on the products the lasic eye surgery devices market is segmented into Excimer Laser and Femtosecond Laser. Excimer laser segment is expected to dominate the product segment in the forecast timespan. It was valued for approximately $650 million in 2018. Excimer laser has transformed the eye laser and ophthalmology field and it has been revolutionary for the treatment of several eye disorders.

By using photoactive decomposition, the laser removes anterior cornea tissue in order to have easy treatment and diagnosis. Furthermore, excimer lasers are also utilized to correct refractive errors of eye as well as for the treatment of myopia, astigmatism conditions and hyperopia.

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Several advantages associated to excimer lasers such as high efficiency and ease of use would majorly grow its prominence in Lasik eye surgeries, which should proliferate the market in the forecast timespan.

With reference to the end-use segment, the market is bifurcated into Lasik Eye Centers, Hospitals, Ambulatory Surgical Centers. The hospital sector accounted for more than 30% of total revenue in 2018. This number is projected to rise in the future owing to growth in the number of Lasik eye surgeries that are conducted in hospitals.

Along with this, many hospitals also offer various schemes to BPL patients, which also includes insurance coverage plan that would attract a higher number of patients. Eye surgery is amongst the most critical medical treatments and the availability of advanced technologies and instruments would majorly increase patient footfall across hospitals for undertaking Lasik eye surgeries.

From a regional reference frame, Europe Lasik eye surgery devices market recorded more than $400 million revenue in 2018 and the region is predicted to observe similar development in the forecast timespan.

Growth in the number of patients suffering from eye-related issues is the major factor responsible for market expansion in the region. Several clinics, medical centers, and hospitals across Europe are conducting Lasik surgeries in order to improve eyesight issues.

In addition, increasing presence and already existing major market players across countries like France, Germany and the UK should outline the market trends in the region.

All in all, growing population, increased availability across hospitals, rise in the number of surgeries are overtly indicative of a massive range of opportunities for Lasik eye surgery devices market players. Some of the prominent business players in Lasik eye surgery devices industry include LASERSIGHT, SCHWIND eye-tech-solutions, Ziemer Ophthalmic Systems, BAUSCH + LOMB, Johnson & Johnson, NIDEK, Carl Zeiss, and Alcon among others.



About Author

Rahul Varpe

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Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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