LASIK Eye Surgery Market Size, Share, Trends, Growth and Forecast 2032

LASIK Eye Surgery Industry Prospective:

The global LASIK eye surgery market size was worth around USD 2,259.87 million in 2023 and is predicted to grow to around USD 3,505.80 million by 2032 with a compound annual growth rate (CAGR) of roughly 5.00% between 2024 and 2032.

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LASIK Eye Surgery Market: Overview

LASIK eye surgery is a form of vision correction surgery. It is the most commonly performed and best-known laser refractive surgery to improve vision of the patients. Laser-assisted in situ keratomileusis (LASIK), at present time, is considered a substitute to contact lenses or glasses. LASIK surgery involves the use of a special type of cutting laser. It is used for changing the cornea shape which is a dome-shaped clear tissue located at the front of the eye. In people with typical vision, the cornea refracts or bends light with high precision onto the retina that is situated at the back of the eye. However, in conditions such as farsightedness, nearsightedness, or astigmatism, the light bending is in incorrect form which ultimately leads to blurred vision. This can be corrected using contact lenses or glasses. However, undergoing LASIK eye surgery which involves reshaping of the cornea, delivers the necessary refraction required for vision correction. LASIK surgery is conducted in patients suffering from conditions such as astigmatism affecting distant and near vision, farsightedness making vision blurry, and nearsightedness causing objects placed at a distance to appear blurry. However, LASIK surgery also has several risks including dry eyes, under corrections, glare or double vision, flap problems, regression, and others.

Key Insights:

• As per the analysis shared by our research analyst, the global LASIK eye surgery market is estimated to grow annually at a CAGR of around 5.00% over the forecast period (2024-2032)
• In terms of revenue, the global LASIK eye surgery market size was valued at around USD 2,259.87 million in 2023 and is projected to reach USD 3,505.80 million, by 2032.
• The LASIK eye surgery market is projected to grow at a significant rate due to the increasing number of patients with eye conditions
• Based on the vision error, the myopia segment is growing at a high rate and will continue to dominate the global market as per industry projection
• Based on the product, the LASIK centers segment is anticipated to command the largest market share
• Based on region, North America is projected to dominate the global market during the forecast period

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LASIK Eye Surgery Market: Growth Drivers

Increasing number of patients with eye conditions will drive the market demand rate

The global LASIK eye surgery market is expected to grow due to the growing number of patients suffering from eye-related medical problems. With the increasing technological advancements in the field of LASIK eye surgery, the medical procedure has consistently delivered exceptional results in improving vision problems. As per official estimates, 80% of the people who have undergone LASIK eye surgery do not require contact lenses or glasses for other activities. Additionally, LASIK eye surgery is an excellent way of achieving improved vision without the hassles involved with the use of glasses and contact lenses. The rising number of patients across the globe with some form of vision condition is driving the demand for LASIK eye surgery. According to the World Health Organization (WHO), around 2.2 billion people in the world have distant or near vision impairment. The establishment also estimates that around 1.1 billion of the reported cases could either have been prevented or haven’t been addressed. The causes of low vision vary and can be caused by congenital defects, injuries, or some form of acquired disease. The most common reasons for vision issues include cataracts, macular degeneration, diabetes-related retinopathy, amblyopia, retinopathy of prematurity, and others. For example, diabetes-related retinopathy is caused by high sugar content in the blood. It leads to damage in the retina blood vessels and exists in two stages including non-proliferative diabetic retinopathy and proliferative diabetic retinopathy. The growing number of patients with diabetes across genders and age groups may create a higher adoption of LASIK eye surgery.

Rising LASIK surgery infrastructure may further promote the market expansion rate

The rising development of new LASIK surgery centers across the globe has helped the facility reach a larger group of audience. The increased accessibility to the novel method of correcting vision problems has created mass awareness about the advantages and benefits of LASIK surgery. In June 2024, EuroEyes, a global leader in laser-based eye surgery, announced the expansion of its business operation thus contributing to the global LASIK eye surgery market. The company launched a new state-of-the-art clinic in London. The facility is equipped to provide cutting-edge solutions.

LASIK Eye Surgery Market: Restraints

High cost of surgical intervention may limit the market’s expansion rate

The global LASIK eye surgery industry is projected to be restricted due to the high cost of surgical intervention. According to official records, the average cost of LASIK may range between USD 2000 per eye to USD 4000 per eye or more. LASIK procedures are considered under certain forms of medical insurance, but the lack of standardized policies and complicated terms & conditions may cause the patient to spend a considerable amount when undergoing the procedure. The cost of LASIK surgeries can be expensive in emerging or underdeveloped nations that are home to low or middle-income groups.

LASIK Eye Surgery Market: Opportunities

Growing technological advancements in LASIK surgeries may generate high growth opportunities for the market players

The global LASIK eye surgery market is projected to generate massive growth opportunities during the projection period. The increasing advancements in technology related to LASIK surgeries focusing on improved results, higher patient care, and enhancing the long-term impact of LASIK procedures will help the market players in the coming years. The development of 100% blade-free LASIK surgery is one such promising advancement in the industry. It deals with the use of bladeless laser engineering tools that create highly accurate corneal flaps thus replacing the blade in the mechanical microkeratome device with computer-led lasers. Moreover, there is a growing development in Wavelength lasers that offer refined solutions along with personalized precision. Market experts are working on developing revolutionary solutions and Femtosecond Laser technology is at the forefront of the LASIK surgery sector. It uses femtosecond lasers to generate the corneal flap. Additionally, other segments witnessing significant investments include wavefront-guided & topography-guided LASIK, smart LASIK systems, and enhanced eye-tracking technology.

Growing undertakings to promote awareness about eye-related medical conditions may generate significant revenue

Since eye conditions are crucial medical concerns, healthcare agencies and regional governments are undertaking several new promotional campaigns to raise awareness about eye health. The growing launch of new awareness programs is likely to help the global LASIK eye surgery market grow during the projection period. In May 2024, WHO launched the SPECS 2030 initiative. In September 2023, the agency launched the WHOeyes application on World Sight Day. The application can help quickly identify future vision problems.

LASIK Eye Surgery Market: Challenges

Complications associated with LASIK eye surgery may challenge the market expansion trend

The global LASIK eye surgery industry is projected to be challenged by the several complications that are a result of LASIK-based eye surgery. Apart from commonly observed risks such as corneal ectasia, problems with the flaps, and overcorrections, patients with specific medical conditions are at a higher risk of unpredictable outcomes during surgery. For instance, if a patient has existing conditions such as autoimmune disorders, constantly dry eyes, and weakened immunity system among others, they are recommended to avoid undergoing LASIK surgeries.

LASIK Eye Surgery Market: Segmentation

The global LASIK eye surgery market is segmented based on vision error, type, product, and region.

Based on the vision error, the global market segments are astigmatism, hyperopia, myopia, and others. The highest growth was observed in the myopia segment. It is also known as nearsightedness. According to research, around 30% of the population in North America is affected by myopia. Hyperopia is known as farsightedness. It occurs when the light rays get focused behind the retina. Astigmatism is also widely prevalent and can occur in conjugation with hyperopia and myopia/

Based on type, the global LASIK eye surgery industry is divided into topography-guided, wavefront-guided, and wavefront-optimized.

Based on the product, the global market divisions are LASIK centers, eye care clinics, hospitals, and others. In 2023, the highest growth was witnessed in the LASIK centers. These facilities are specially dedicated to conducting LASIK operations. They deploy highly advanced devices and solutions and focus on treating patients seeking LASIK interventions. Eye care clinics are also wide revenue generators with several facilities offering LASIK services. The US has over 1400 registered eye clinics across the region.

LASIK Eye Surgery Market: Report Scope

LASIK Eye Surgery Market: Regional Analysis

North America to generate the highest return during the projection period

The global LASIK eye surgery market is expected to witness the highest growth in North America. The increasing prevalence of eye conditions across the US & Canada regions and growing awareness about LASIK surgeries will fuel the regional market demand. In addition to this, access to medical reimbursement policies covering LASIK surgeries helps patients in North America undergo advanced surgical processes such as LASIK treatments. As per the Centers for Disease Control and Prevention (CDC), more than 12 million people in the US over the age of 40 years have vision impairment. By 2050, the agency predicts that the number may double. The increasing development of modern LASIK centers and eye clinics will help the regional market flourish. In January 2204, the US Food and Drug Administration (FDA) authority approved a novel LASIK device called Teneo Excimer Laser Platform developed by Bausch + Lomb Corporation. The platform can be used for treating cases of myopic astigmatism and myopia. In April 2023, Johnson & Johnson announced that it had received FDA clearance for  ELITA Femtosecond Laser for creating LASIK flaps.

LASIK Eye Surgery Market: Competitive Analysis

The global LASIK eye surgery market is led by players like:

• Ziemer Ophthalmic Systems
• Carl Zeiss AG
• Ophthalmic Consultants of Boston
• Johnson & Johnson
• NVISION Eye Centers
• Medtronic
• TLC Laser Eye Centers
• Alcon Inc.
• The LASIK Vision Institute
• Lasersight Technologies Inc.
• OptiLASIK
• Bausch Health Companies Inc.
• LasikPlus
• Stryker
• Nidek Co. Ltd.

The global LASIK eye surgery market is segmented as follows:

By Vision Error

• Astigmatism
• Hyperopia
• Myopia

By Type

• Topography Guided
• Wavefront Guided
• Wavefront Optimized

By Product

• Femtosecond Laser
• Excimer Laser

By End-User

• LASIK Centers
• Eye Care Clinics
• Hospitals

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa