Industry Background:
Wavefront LASIK is also called custom LASIK which is a technology used for creating the topological map of a person's cornea, it helps in programming the laser technology to correct the error on specific cornea. This is the new approach to the LASIK with the guided procedure to reshape the cornea and improve vision-related activity. There are two types of wavefront methods namely normal wavefront and aberrated wavefront and the LASIK can be wavefront-guided, wavefront-optimized, and topography-guided.
According to AMA Research, the market for Wavefront LASIK is expected to register a CAGR of 5.0% during the forecast period to 2030. This growth is primarily driven by Growing Vision-related Problems in People of all Age Group
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Technology sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Johnson & Johnson Vision (United States), Bausch + Lomb (United States), Alcon (United States), Georgia Center For Sight (United States), LASIK MD (Canada), Novartis International AG (Switzerland), Texan Eye Care (United States) and Shapiro Laser Eye Center (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In March 2023, Johnson & Johnson Vision, a part of Johnson & Johnson MedTech, announced the CE Mark approval for its advanced laser vision correction solution, the ELITA Femtosecond Laser System. This new laser enables surgeons to perform refractive correction for myopia, with or without astigmatism, through the SILK Procedure, a novel lenticular technique (Smooth Incision Lenticule Keratomileusis).
In June 2023, ZEISS, a global optics and optoelectronic technology leader, launched its advanced medical devices, VISUMAX 800 and Quatera 700.Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Regulatory Insights:
"The FDA approval of Visx Wavescan system for LASIK procedure is for eyes with up to -11 diopters of myopia, with or without up to -3 diopters of astigmatism. Surgeons can, for the first time, measure and treat visual disorders that previously could not be detected. In the U.S. FDA clinical trials, 94% of patients who had the Visx CustomVue procedure achieved 20/20 or better vision. The trial participants were four times more likely to say they were "very satisfied" with their night vision following CustomVue than they were with their night vision with their glasses or contacts."
Influencing Trend:
The popularity of Wavefront Technology in Refractive Surgery
Market Growth Drivers:
Growing Vision-related Problems in People of all Age Group and Demand for Advanced Wavefront Technology for Cornea Specific Effective Treatment
Challenges:
Problems with the High Expense in Wavefront LASIK Technology
Restraints:
Risk of Side Effects Like Dry Eye, Blurry Vision and Other Infection-related Problems Associated with Wavefront LASIK
Opportunities:
Increasing research and Development in Wavefront LASIK Technology and its Effectiveness and Rising Investment of Vision Correction Hospitals and Clinic in Wavefront LASIK Technology
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Wavefront LASIK Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Wavefront LASIK Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Wavefront LASIK players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Wavefront LASIK Study Sheds Light on
The Wavefront LASIK Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Wavefront LASIK industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Wavefront LASIK industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.