Published by TMR Research Insights
Posted on August 26, 2021
The global personalized LASIK surgery market features a highly consolidated vendor landscape along with intense competition among a few established players. The top five participants, namely Abbott Medical Optics, NIDEK, Alcon, Carl Zeiss, and Bausch & Lomb held 87% of the market in 2015. The focus of these players on technological advances and efforts for geographical expansion are the key factors behind their large market share.
Going forward, competition in this market is likely to escalate due to continued price war between few key participants. In this scenario, key players are likely to enter into contracts with end users for sustained business growth. These players are also likely to resort to the inorganic growth route thus vie for mergers and acquisitions and strategic alliances with small vendors.
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As per a market study by Transparency Market Research (TMR), the global personalized LASIK surgery market is likely to rise at a steady 5.6% CAGR between 2016 and 2024 to attain a value of US$2.6 bn by the end of 2024. The demand in the market was worth US$1.6 bn in 2015.
Among the key end-use segments, hospital accounted for the leading contribution to the personalized LASIK surgery market in 2015; the segment is likely to remain at the fore through the forecast period. In terms of geography, North America led the global personalized LASIK surgery market in 2015 holding 45% market share. High awareness about technologically advanced vision correction surgeries coupled with high spending on advanced vision correction surgeries for aesthetic reasons account for the high growth of this region.
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Importance of Look and Aesthetics among Young Adults to Fuel Demand
According to the lead analyst of the study, “the demand for personalized LASIK surgery is directly influenced by rising spending on vision correction surgeries for aesthetic reasons. Individuals are increasingly opting for vision correction surgeries in place of spectacles and contact lenses for appearance and convenience. Individuals who undergo LASIK surgery do not need to use glasses or contact lens for vision correction until second surgery is required.
The rising incidence of myopia and astigmatism provides significant growth opportunities for market players to offer corrective treatments. Along with this, the growing pool of presbyopia patients is stoking demand for vision correction surgeries thus propelling this market.
Furthermore, increasing risk of infection due to continual use of contact lens, rising prevalence of ocular diseases, and emergence of newer ophthalmic technologies are likely to act in favor of the personalized LASIK surgery market in the years ahead.
Buy Personalized LASIK Surgery Market Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=17441<ype=S
High Cost of Surgery Limits Demand
On the other hand, rise in number of cases of failure of surgery and post-surgery complications are providing headwinds to this market. High cost of advanced ophthalmology equipment along with high consultation and surgery charges makes LASIK surgery affordable by a limited number of individuals. This is slowing the growth of this market.
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Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
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Press Release Source: https://www.transparencymarketresearch.com/pressrelease/personalized-lasik-surgery-market.htm
The global personalized LASIK surgery market features a highly consolidated vendor landscape along with intense competition among a few established players. The top five participants, namely Abbott Medical Optics, NIDEK, Alcon, Carl Zeiss, and Bausch & Lomb held 87% of the market in 2015. The focus of these players on technological advances and efforts for geographical expansion are the key factors behind their large market share.
Going forward, competition in this market is likely to escalate due to continued price war between few key participants. In this scenario, key players are likely to enter into contracts with end users for sustained business growth. These players are also likely to resort to the inorganic growth route thus vie for mergers and acquisitions and strategic alliances with small vendors.
Request Brochure of Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=17441
As per a market study by Transparency Market Research (TMR), the global personalized LASIK surgery market is likely to rise at a steady 5.6% CAGR between 2016 and 2024 to attain a value of US$2.6 bn by the end of 2024. The demand in the market was worth US$1.6 bn in 2015.
Among the key end-use segments, hospital accounted for the leading contribution to the personalized LASIK surgery market in 2015; the segment is likely to remain at the fore through the forecast period. In terms of geography, North America led the global personalized LASIK surgery market in 2015 holding 45% market share. High awareness about technologically advanced vision correction surgeries coupled with high spending on advanced vision correction surgeries for aesthetic reasons account for the high growth of this region.
Request for Custom Research – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=17441
Importance of Look and Aesthetics among Young Adults to Fuel Demand
According to the lead analyst of the study, “the demand for personalized LASIK surgery is directly influenced by rising spending on vision correction surgeries for aesthetic reasons. Individuals are increasingly opting for vision correction surgeries in place of spectacles and contact lenses for appearance and convenience. Individuals who undergo LASIK surgery do not need to use glasses or contact lens for vision correction until second surgery is required.
The rising incidence of myopia and astigmatism provides significant growth opportunities for market players to offer corrective treatments. Along with this, the growing pool of presbyopia patients is stoking demand for vision correction surgeries thus propelling this market.
Furthermore, increasing risk of infection due to continual use of contact lens, rising prevalence of ocular diseases, and emergence of newer ophthalmic technologies are likely to act in favor of the personalized LASIK surgery market in the years ahead.
Buy Personalized LASIK Surgery Market Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=17441<ype=S
High Cost of Surgery Limits Demand
On the other hand, rise in number of cases of failure of surgery and post-surgery complications are providing headwinds to this market. High cost of advanced ophthalmology equipment along with high consultation and surgery charges makes LASIK surgery affordable by a limited number of individuals. This is slowing the growth of this market.
More Trending Reports by Transparency Market Research –
Cholesterol Lowering Drugs Market: https://www.prnewswire.com/news-releases/researchers-harness-potential-of-bempedoic-acid-to-stir-pipelines-in-cholesterol-lowering-drugs-market-better-outcomes-in-lowering-cardiovascular-risks-key-objective-finds-tmr-301026715.html
Cord Blood Banking Services Market: https://www.prnewswire.co.uk/news-releases/cord-blood-banking-services-market-to-grow-at-cagr-of-10-9-from-2019-to-2027-tmr-study-854543157.html
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Contact
Transparency Market Research
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Blog: https://tmrblog.com/
Follow Us: Twitter | LinkedIn
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/personalized-lasik-surgery-market.htm
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