Global Custom LASIK Surgery Market Continues to Expands as Johnson & Johnson receives the U.S. FDA approval for its new laser eye surgery named iDesign Refractive Studio system

 

LASIK is short for Laser-Assisted In Situ Keratomileusis, and is a type of cosmetic surgery for the treatment of myopia, hyperopic, and astigmatism, commonly known as refractive eye correction. The procedure uses a laser to reshape the cornea and thus correct the vision. This procedure has been approved by the FDA in 1998. It is a minimally invasive procedure that offers many patient benefits, including the ability to wear contacts and glasses in an effort to correct vision problems. The majority of LASIK surgical procedures are performed on an outpatient basis at an eye clinic, although some patients may require hospitalization if their eyes become infected.

 

Increasing incidence of refractive disorders is expected to drive growth of the global custom LASIK surgery market. According to the American Academy of Ophthalmology, in 2016, around 23% of the U.S. population aged 40 years and above was suffering from myopia. According to the World Health Organization (WHO), by 2020, around 2.56 billion people are to get affected by myopia. LASIK surgery reshapes the cornea with an excimer laser and is done with a computer-controlled excimer cold laser. Besides, it also uses a microkeratome for these types of surgeries. Furthermore, custom LASIK surgery has greater accuracy than conventional LASIK surgery since it uses wavefront technology to create a highly-detailed 3D map of the cornea. Hence, such factors are expected to drive growth of the global custom LASIK surgery market. Furthermore, technological advancements in LASIK surgeries are expected to propel the global custom LASIK surgery market growth in the near future.

However, high cost of treatment and complexity in technology is expected to restrain growth of the global custom LASIK surgery market. Among regions, North America is expected to witness significant growth in the global custom LASIK surgery market. This is owing to increasing demand for effective therapeutic treatment options for eye disorders. Furthermore, increasing product approvals by regulatory authorities are expected to boost the regional market growth in the near future. Asia Pacific is expected to register a robust growth rate, owing to rising patient awareness regarding the benefits of LASIK surgery and improvement in healthcare infrastructure in the region.

Key players operating in the global custom LASIK surgery market are Johnson & Johnson, Ziemer Group AG (Ziemer Ophthalmic Systems), Alcon Inc., Nidek Co. Ltd., Bausch Health Companies Inc., Lasersight Technologies, Inc., Bausch Health Companies Inc., and Carl Zeiss AG.

For instance, in October 2019, Johnson & Johnson received the U.S. Food and Drug Administration (FDA) approval for its new laser eye surgery named iDesign Refractive Studio system.