Market Trends of Personalized LASIK Surgery Industry
Myopia Segment is Expected to Witness High Growth Over the Forecast Period
Nearsightedness (myopia) is a common vision condition. People with myopia can see objects near them clearly, but things that are far away may seem blurry. LASIK surgery eliminates this near focus caused by myopia. Thus, the application of personalized LASIK surgery in treating myopia is expected to boost the segment's growth over the forecast period. The increasing incidence of myopia will be one of the primary reasons for the development of the market. For instance, the International Myopia Institute, in January 2022, stated that nearly 30% of the world is currently myopic, and almost 50% of the global population may be myopic by 2050. As personalized LASIK surgery is the latest solution available for the treatment of myopia, the demand for LASIK surgeries for myopia treatment is expected to grow over the forecast period.
Furthermore, topo-guided LASIK surgery has been effective for myopia treatment, and several studies have shown its efficacy over other procedures. According to an article published by Healio, in October 2021, due to the eye tracking, cyclorotation compensation, and active centration control in topo-guided LASIK technology, better visual performance than SMILE (Small Incision Lenticule Extraction) was observed over long-term follow-up. Further, as per the same source, topo-guided LASIK demonstrated better optical performance and accuracy, especially in highly myopic eyes. Such studies increase the adoption of personalized LASIK surgeries among myopia-affected populations, eventually driving growth. Therefore, the myopia segment is expected to grow over the forecast period due to the abovementioned factors.
North America is Expected to Dominate the Personalized LASIK Surgery Market Over the Forecast Period
North American region accounted for the largest market share as there is a high rate of preference for vision corrective surgeries. Other factors driving the studied market in the region are the availability of advanced technologies and the increased healthcare spending of the target population. For instance, according to the 2021 report of the American Optometric Association, myopia affects nearly 30% of the US population. While the exact cause of myopia is unknown, there is significant evidence that many people inherit myopia or at least the tendency to develop myopia. If one or both parents are near-sighted, there is an increased chance their children will be near-sighted.
Furthermore, according to ARVO Annual Meeting Abstract, in June 2022, the overall prevalence of myopia was 33%, hyperopia was 29%, and Astigmatism was 66% in North Canada. Additionally, according to a study by Optometry and Vision Science, in November 2021, myopia was 36.11%, hyperopia was 1.49%, and Astigmatism was 29.17% in children of Northern Mexico. Hence, the high prevalence of vision disorders is expected to boost the market growth in the region.
Additionally, per the data updated in November 2021 for LASIK by the National Library of Medicine, several lasers are approved by the US Food and Drug Administration (FDA) for use in LASIK surgeries. As per the source mentioned above, custom LASIK is often utilized. Thus, the increase in approval and preference for LASIK surgery will drive the market over the forecast period. Therefore, owing to the factors above, the market studied is predicted to grow in North America over the forecast period.
