Technavio released its analysis of the global LASIK surgery market through 2021, headlined by a 6 percent compound annual growth rate.
Here's what you should know:
1. The leading market competitors include:
- Novartis
- Johnson & Johnson
- Valeant Pharmaceuticals
- Carl Zeiss
- Nidek
2. The market is split between three sectors, each with a distinct market share, as of 2016:
- Wavefront-guided LASIK — 35 percent
- Wavefront-optimized LASIK — 45 percent
- Topography LASIK — 20 percent
3. Technavio analysts expect wavefront-guided LASIK will continue to lead the market because of the affordable nature of the machines, coupled with the affordability of the procedure for patients.
Technavio Lead Orthopedics and Medical Devices Research Analyst Ramakrishna Edupulapati said, "The wavefront-guided LASIK technology is expected to dominate the global LASIK surgery market in the coming years."
4. Wavefront-optimized technology holds the second largest share because it is faster than wavefront-guided technology and it reduces expenses associated with the aberrometer.
5. Topography LASIK rounds out the market. Physicians can obtain more information and measurements, compared to the other types of LASIK procedures, using topography-guided LASIK. It is also pain free. Topography is heavily preferred outside of the U.S.