LASIK Eye Surgery Devices Market Size By Product (Excimer Laser, Femtosecond Laser), By Application (LASIK Eye Centers, Hospitals, Ambulatory Surgical Centers), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forec

LASIK Eye Surgery Devices Market Size By Product (Excimer Laser, Femtosecond Laser), By Application (LASIK Eye Centers, Hospitals, Ambulatory Surgical Centers), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022-2030

The global LASIK eye surgery devices market share is projected to increase substantially over 2022-2030, driven by the strong demand for minimally invasive surgical procedures.
LASIK surgery is being widely considered as a preferred minimally invasive surgery option to correct astigmatism, myopia, hyperopia, and other refractive errors, due to benefits such as faster recovery time, less pain, and reduced costs. With the rapid advancement in minimally invasive tech, the acceptance of corrective eye surgery has increased worldwide, warranting high demand for LASIK eye surgery devices.
The high cost of LASIK surgery devices and their associated maintenance may, however, act as a key restraining factor to industry progression over the forecast period.
The LASIK eye surgery devices industry is segmented in terms of product, end-use, and region.
On the basis of product, the market is divided into excimer and femtosecond laser segments. Of these, the excimer laser segment is slated to witness commendable growth through 2030, driven by its emergence as an effective treatment for a range of corneal disorders.
This type of laser can also treat epithelial instability, corneal surface irregularity, and superficial opacity, leading to high preference from patient populations and in turn driving segmental growth.
In terms of the end-use, the industry is segregated into LASIK eye centers, ambulatory surgical centers, hospitals, and others. The others segment, which includes health centers, clinics, optometrists, and eye research institutes, is projected to register a revenue of over USD 200 million by 2030. This is attributable to the expansion of healthcare chains including clinics and other LASIK treatment services, especially in developing economies.
For instance, in June 2022, Netradeep Eye Hospital merged with Maxivision Group of Eye Hospitals as a part of its plans to provide comprehensive eye care services. Key facilities under the new brand include Advanced Cataract Surgeries, LASIK, Cornea Clinic, and Pediatric Eye Care. Initiatives such as these are expected to escalate the use of LASIK eye surgery equipment in clinics and other healthcare facilities.
From a regional perspective, the Asia Pacific held more than 25% of the LASIK eye surgery devices industry share in 2021. This can be credited to the growing incidence of myopia, predominantly in high-income APAC countries.
The requirement for refractive surgery devices in the region is further influenced by lifestyle and environmental variables including aging, air pollution, and surging screen time, which are creating a strong outlook for the regional market.
Meanwhile, the Middle East and Africa (MEA) LASIK eye surgery devices market recorded a revenue of nearly USD 70 million in 2021, given the increasing healthcare expenditure, availability of cost-effective LASIK procedures, and favorable government healthcare schemes.