US LASIK Surgery Market Analysis

US LASIK Surgery Market Analysis


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US LASIK Surgery Market was valued at $1,482.60 Mn in 2023 and is predicted to grow at a CAGR of 3.21% from 2023 to 2030, to $1,849.59 Mn by 2030. The key drivers of this industry include rising prevalence, high disposable income, and medical tourism destinations. The industry is primarily dominated by Johnson & Johnson Vision, Zeimer Ophthalmic System AG, Abbott, and Carl ZEISS AG, among others.

ID: IN10USPH574 CATEGORY: Pharmaceuticals GEOGRAPHY: US AUTHOR: Sarita Yadav

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US LASIK Surgery Market Executive Summary

US LASIK Surgery Market was valued at $1,482.60 Mn in 2023 and is predicted to grow at a CAGR of 3.21% from 2023 to 2030, to $1,849.59 Mn by 2030.

LASIK, or laser-assisted in situ keratomileusis, is a popular refractive surgery that reshapes the cornea to correct vision problems like near sightedness, farsightedness, and astigmatism, significantly reducing dependence on eyeglasses or contact lenses. Before surgery, an ophthalmologist performs a comprehensive eye exam to determine candidacy. The outpatient procedure, lasting about 15-30 minutes per eye, involves creating a thin corneal flap with a microkeratome or femtosecond laser, reshaping the underlying corneal tissue with an excimer laser, and repositioning the flap without stitches. Post-surgery, patients may experience temporary discomfort and blurred vision, with risks including dry eyes, glare, halos, infection, and rare vision under or overcorrections.

In US, the prevalence of eye diseases varies significantly among different racial and ethnic groups. Among non-Hispanic whites, cataracts (42.2%), age-related macular degeneration (28.1%), and diabetic retinopathy (4.7%) are most common. African Americans face high rates of cataracts (41.7%), diabetic retinopathy (12.2%), and glaucoma (11.3%). Hispanics exhibit the highest prevalence of cataracts at 48.0%. Vision impairment in the US is associated with a two-fold greater risk of developing chronic diseases and a 29% higher risk of all-cause mortality for those with poor visual acuity. Market is therefore driven by significant factors like high prevalence, technological advancements, and increased awareness. However, high costs, concerns about safety, and competition from alternatives restrict the growth and potential of the market.

A prominent player in this field is Johnson & Johnson Vision, Zeimer which announced a collaboration with Schwind eye-tech-solutions to develop a new femtosecond laser platform for various ophthalmic applications, including LASIK surgery on June 2023. Other contributors include Abbott, and Carl ZEISS AG among others.

US LASIK Surgery Market Report 2023 to 2030

Market Dynamics

Market Growth Drivers

High Prevalence: In the US, over 41% of adults aged 12 and older rely on corrective lenses for distance vision, highlighting a substantial potential patient base for LASIK surgery. This widespread need creates significant demand for vision correction options.

Technological Advancements: Ongoing innovations in LASIK technology enhance precision, reduce recovery times, and lower complication risks, making the procedure more appealing. Techniques such as blade-free LASIK and wavefront-guided LASIK allow for personalized treatment tailored to individual patient needs.

Increased Awareness: Public awareness of LASIK surgery is rising due to targeted marketing campaigns from eye care providers. These educational initiatives help address common concerns and attract potential patients who may have previously overlooked LASIK.

Market Restraints

High Cost of Surgery: Price of LASIK surgery in the US ranges from $2,000 to $4,000 per eye, which can pose a significant financial barrier for many patients, even among those with disposable income.

Concerns about Safety: Although LASIK has a strong safety record, potential side effects such as dry eyes and temporary vision fluctuations can lead to patient hesitancy, raising concerns about long-term outcomes.

Competition from Alternative: Availability of alternative vision correction options, such as contact lenses and implantable lenses (ICLs), poses competition to LASIK. Patients may prefer these alternatives due to lower upfront costs, apprehension about surgery, or a desire for non-surgical solutions.

Regulatory Landscape and Reimbursement Scenario

US has a robust regulatory framework for LASIK surgery, governed by key bodies such as the Food and Drug Administration (FDA), which ensures the safety and efficacy of medical devices used in the procedure, and the Centers for Medicare & Medicaid Services (CMS), which sets standards for healthcare providers, although LASIK is not covered by these programs. State medical licensing boards also play a crucial role in overseeing ophthalmologists, ensuring they meet qualifications and adhere to ethical practices. Key regulations include strict pre-operative evaluations, the use of FDA-approved equipment, mandatory informed consent, and adherence to established professional guidelines.

Regarding reimbursement, LASIK surgery is generally considered an elective procedure with limited insurance coverage. Traditional health insurance plans typically do not cover LASIK, and while some vision insurance plans may offer partial benefits or discounts, they rarely cover the full cost. As a result, most patients in the U.S. pay out-of-pocket for LASIK surgery, with costs varying based on the surgeon's expertise and technology used. Some clinics also offer financing options to help manage these expenses.

Competitive Landscape

Key Players

Here are some of the major key players in the US LASIK Surgery

  • Schwind eye-tech-solutions
  • Abbott
  • Technolas Perfect Vision GMBH
  • Johnson and Johnson Private Ltd
  • Zeimer Ophthalmic System AG
  • Alcon Inc.
  • Laser Sight Technologies, Inc
  • Bausch + Lomb Incorporate
  • Carl ZEISS AG
  • Nidek Co, Ltd

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

US LASIK Surgery Market Segmentation

By Type

  • Wavefront Optimized
  • Wavefront-Guided
  • Topography Guided
  • All Laser

By Vision Error

  • Myopia
  • Hyperopia
  • Astigmatism
  • Others

By Product

  • Excimer Laser
  • Femtosecond Laser

By End-User

  • Hospitals
  • Eye Care Clinic
  • LASIK Centers
  • Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.​

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

  • Analyzing historical proprietary data collected from multiple projects.
  • Regularly updating our existing data sets with new findings and trends.
  • Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

  • Searching through academic conferences, published research, citations, and social media platforms
  • Collecting and compiling diverse data to build a comprehensive and detailed database
  • Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

  • Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
  • Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
  • Continuously refreshing our database to ensure that the information remains current and reliable.
  • Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

  • Merging historical data from secondary research with real-time data from primary research.
  • Conducting thorough data validation and cleansing to remove inconsistencies and errors.
  • Organizing data into a structured format that is easily accessible and usable for various applications.
  • Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.

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Last updated on: 10 September 2024
Updated by: Riya Doshi

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