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Laser Vision Correction Market Analysis | Coherent Market Insights

Read here the market research report on u201cLaser Vision Correction Marketu201d published by CMI team.

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Laser Vision Correction Market Analysis | Coherent Market Insights

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  1. Coherent Market InsightS Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. Laser Vision CorrectionMarket Analysis (2020-2027) • The LASIK surgery procedure is carried out for treatment of patients suffering from myopia. Factors such as the increasing demand for minimally invasive therapies and the rising prevalence of refractive disorders are expected to boost demand for Laser Vision Correction procedures during the forecast period. Commercialization of approved LASIK surgery systems is expected to fuel market growth during the forecast period. • Moreover, key players in the market are focusing on investments in research and development of custom LASIK technology. They are actively investing in acquiring license for commercialization of advanced wavefront guided LASIK technology for treatment.

  3. s • For instance, in June 2013, Bausch & Lomb Incorporated received the Health Canada Medical Device License (MDL) for VICTUS Femtosecond Laser Platform that is used in creation of a corneal flap in patients undergoing LASIK surgery.

  4. Global Laser Vision Correction Market - Impact of Coronavirus (Covid-19) Pandemic • The laser vision correction market study is a well-researched report encompassing a detailed analysis of this industry with respect to certain parameters such as the product capacity as well as the overall market remuneration. According to the World Health Organization Coronavirus Disease (COVID-19) Dashboard (WHO) report, the manifestation of the coronavirus disease (COVID-19) has resulted in more than 7 million infected individuals worldwide as of June 2020. • Due to the lockdown, several countries such as Italy, Spain, U.K., the U.S., India, and others are facing problems regarding the transportation of laser vision correction devices from one place to another. Upcoming LASIK surgeries are delayed due to nationwide lockdowns as LASIK surgeries are classified as cosmetic procedures in many countries.

  5. s • The WHO has encouraged ophthalmic centers to take safety and responsible measures in order to reduce the spread of coronavirus. For instance, limiting the number of people in one area at a time, modifying workstation arrangements, and minimizing the cross flow of people between shifts to reduce potential exposure, along with enhanced cleaning and sanitization of facilities. • The Laser Vision Correction Market is estimated to be valued at US$ 5,201.3 million in 2020 and is expected to exhibit a CAGR of 7.9% during the forecast period (2020-2027).

  6. Figure 1: Global Laser Vision Correction Market Share (%) Analysis, By Type, 2020

  7. Increasing number of product launches and approvals are expected to drive the growth of the laser vision correction market. • Laser vision correction is an effective method to correct the vision and is used for the treatment of various refractive disorders such as myopia, hyperopia, astigmatism, and others. • Market players are focused on product launches, obtaining approvals for laser vision correction devices, and enhancing their offerings in potential markets. For instance, in November 2015, Alcon, a division of Novartis, introduced Contoura Vision, the first personalized LASIK procedure, at the American Academy of Ophthalmology’s (AAO) annual meeting in Las Vegas, U.S

  8. s • Contoura Vision is a topography-guided LASIK treatment developed to help surgeons or healthcare professionals perform personalized laser procedures on patients with nearsightedness and astigmatism based on the corneal topography of each eye. • Furthermore, Bausch Health is also making available for donation of ARTELAC Splash eye drops for local hospitals (Spain). Moreover, in October 2018, Alcon introduced the advanced WaveLight Refractive Suite that can be used with Contoura Vision to guide surgeons and professionals in detection of abnormality or imperfection in eyes.

  9. Laser Vision Correction Market- Restraints • However, LASIK surgery devices are highly computerized devices which can experience faults, inconsistencies, technical glitches, and other problems. Due to these technical problems, the U.S. FDA has often recalled LASIK surgery devices which is expected to hamper the laser vision correction market growth during the forecast period. • For instance, in March 2018, the U.S. FDA recalled the FEMTO LDV(TM) Z8 Femtosecond Surgical Laser, a product by SIE AG, due to a customer complaint received on November 16, 2017 about a complication with a cataract procedure.

  10. Laser Vision Correction Market– Regional Analysis • The market in North America accounted for the largest share in the Laser Vision Correction Market in 2019 owing to the increasing incidence of refractive disorders, coupled with high demand for laser treatment. For instance, according to the American Academy of Ophthalmology, in 2016, around 23% of the U.S. population above the age of 40 years suffered from myopia. • Furthermore, in January 2019, according to the Glaucoma Research Foundation, over 3 million people in the U.S. have been diagnosed with glaucoma. The National Eye Institute projects that this number will increase by 58% and reach 4.2 million by 2030.

  11. s • Furthermore, the market in Asia Pacific is expected to witness the fastest growth during the forecast period. The increasing demand for new treatment methods in countries such as India and China is expected to drive the market growth. For instance, in 2016, Contoura Vision received the U.S. FDA approval for a commercial launch, which is also available in India in various centers, and several Indian surgeons now have extensive experience with this technology.

  12. Figure 2: Global Laser Vision Correction Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027

  13. Laser Vision Correction Market- Competitive Landscape • Key players operating in the laser vision correction market are Johnson & Johnson., Alcon Laboratories, Inc., Nidek co., Ltd., Bausch Health Companies Inc., Carl Zeiss Meditec AG, Ziemer Group AG, Schwind Eye-tech-solutions, and Coherent Inc.

  14. Request sample copy here • Request PDF brochure here • Request Customization here • Talk to Analyst • Buy Now • Reference: • https://www.coherentmarketinsights.com/market-insight/laser-vision-correction-market-3996

  15. About Us: • Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. • What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  16. Contact Us: • Mr. Shah • Coherent Market Insights Pvt. Ltd. • Address: 1001 4th ave, #3200 Seattle, WA 98154, U.S. • Phone: +1-206-701-6702 • Email :sales@coherentmarketinsights.com

  17. Thank You! Kindly follow CMI Social Media Profiles for the latest company updates Facebook Linkedin Twitter https://www.coherentmarketinsights.com/

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