by The global Laser Vision Correction Market is estimated to be valued at US$ 6.5 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Laser vision correction involves altering or reshaping the cornea using excimer lasers or femtosecond lasers to improve vision in patients with myopia, hyperopia and astigmatism. Using laser energy, surgeons are able to precisely alter the shape of the cornea to reduce or eliminate dependence on glasses and contact lenses. The increasing demand for non-invasive surgery and rise in aesthetic consciousness across the world are driving the growth of laser vision correction market.
Market key trends:
The key trend propelling the growth of the laser vision correction market is the advancement of femtosecond laser technology. Femtosecond lasers offer greater precision and safety during laser vision correction as compared to conventional excimer lasers. Femtosecond lasers allow ophthalmologists to create a customized treatment based on each patient’s corneal thickness and prescription. They create a flap in the cornea with micron level precision which can be lifted and replaced securely after laser treatment. This leads to better visual outcomes and fewer complications for patients undergoing refractive surgery. The growing preference for non-invasive and accurate procedures is increasing the adoption of femtosecond lasers globally.
Segment Analysis
The global laser vision correction market is segmented into laser type and application. Based on laser type, the excimer laser segment dominated the market in 2023 owing to its wide usage and proven track record. Excimer lasers provide precise correction and are reliable and safe in treating vision problems like myopia, hyperopia, and astigmatism.
Key Takeaways
Global Laser Vision Correction Market Demand is expected to witness high growth, exhibiting a CAGR of 7.9% over the forecast period, due to increasing preference for non-invasive procedures and technological advancements.
Regional analysis – North America dominated the global market in 2023 and is expected to maintain its dominance over the forecast period. This is attributed to the rising prevalence of vision disorders and strong healthcare infrastructure in the region. Asia Pacific is expected to grow at the fastest rate during the forecast period owing to increasing medical tourism and purchasing power in emerging countries.
Market size – The global laser vision correction market size was valued at US$ 6.5 Bn in 2023. The market is expected to reach approximately US$ 12 Bn by 2030. The increasing use of refractive surgeries to correct eye disorders and growing awareness about laser vision correction procedures are fueling market growth.
Key players – Key players operating in the laser vision correction market are Johnson & Johnson Private Limited, Alcon Management S. A., NIDEK CO., LTD., Bausch Health Companies Inc., Carl Zeiss Meditec AG (A subsidiary of Carl Zeiss AG), Ziemer Ophthalmic Systems AG, SCHWIND eye-tech-solutions, and Coherent Corp. These players are focusing on new product launches and partnerships to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
