China LASIK Surgery Market Analysis

China LASIK Surgery Market Executive Summary

China LASIK Surgery Market was valued at $283.77 Mn in 2023 and is predicted to grow at a CAGR of 6.71% from 2023 to 2030, to $447.09 Mn by 2030.

LASIK, or laser-assisted in situ keratomileusis, is a popular refractive surgery that reshapes the cornea to correct vision problems like near sightedness, farsightedness, and astigmatism, significantly reducing dependence on eyeglasses or contact lenses. Before surgery, an ophthalmologist performs a comprehensive eye exam to determine candidacy. The outpatient procedure, lasting about 15-30 minutes per eye, involves creating a thin corneal flap with a microkeratome or femtosecond laser, reshaping the underlying corneal tissue with an excimer laser, and repositioning the flap without stitches. Post-surgery, patients may experience temporary discomfort and blurred vision, with risks including dry eyes, glare, halos, infection, and rare vision under or overcorrections.

In 2019, the prevalence of moderate vision impairment in China was 2.57%, severe vision impairment was 0.25%, and blindness was 0.48%, with notable increases in moderate vision impairment by 133.67% and blindness by 64.35% from 1990 to 2019, primarily due to population aging. The pooled prevalence of dry eye disease in Asia was estimated at 20.1%, with higher rates in females (21.7%) compared to males (16.4%). Additionally, about 13.5% of China's population was aged 65 and above in 2021, leading to a rising trend in age-related eye diseases, as one in five individuals over 70 experienced some degree of vision loss. The market is therefore driven by significant factors like the rising prevalence of myopia, growing disposable income, and technological advancements. However, the high cost of surgery, limited access to qualified surgeons and facilities, and concerns about safety and quality restrict the growth and potential of the market.

A prominent player in this field is Johnson & Johnson Vision, Zeimer which announced a collaboration with Schwind eye-tech-solutions to develop a new femtosecond laser platform for various ophthalmic applications, including LASIK surgery on June 2023. Other contributors include Abbott, and Carl ZEISS AG among others.

Market Dynamics

Market Growth Drivers

Rising Prevalence of Myopia: China is experiencing a myopia epidemic, especially among young adults, with over 53% of those aged 16-24 affected. This significant population creates a high demand for corrective procedures like LASIK.

Growing Disposable Income: As China's economy continues to grow, many citizens are seeing an increase in disposable income. This financial flexibility encourages individuals to consider elective procedures like LASIK to enhance their quality of life, alongside a rising trend towards consumerism and personal health investment.

Technological Advancements: China is making significant strides in ophthalmic technology development. Innovations in laser technology and surgical methods lead to increased precision, quicker recovery times, and potentially lower complication rates, making LASIK a more appealing option for patients.

Market Restraints

High Cost of Surgery: LASIK surgery is quite costly in China, particularly about the average national income, presenting a significant barrier to access for many citizens.

Limited Access to Qualified Surgeons and Facilities: Availability of ophthalmologists trained in advanced LASIK techniques and well-equipped facilities is often concentrated in major cities, limiting access for individuals in rural areas.

Concerns about Safety and Quality: Historical issues regarding the safety and quality standards of some LASIK procedures in China have raised concerns. It is essential to build trust with qualified ophthalmologists and ensure compliance with stringent regulations to address these issues.

Regulatory Landscape and Reimbursement Scenario

China has a comprehensive regulatory framework overseeing LASIK surgery to ensure patient safety. The National Medical Products Administration (NMPA) regulates medical devices, including LASIK lasers, ensuring they meet safety and efficacy standards. The National Health Commission (NHC) sets health policies and guidelines related to ophthalmic procedures, covering pre-operative assessments and postoperative care. Additionally, the Chinese Medical Doctor Association (CMDA) provides ethical guidelines for medical practice, which LASIK surgeons must follow. Key regulations include strict pre-operative assessments, the use of approved medical devices, informed consent procedures, and licensing requirements for facilities and ophthalmologists.

Regarding reimbursement, LASIK surgery is typically considered elective in China, leading to limited public insurance coverage. Coverage may be available for severe refractive errors impacting daily life, but eligibility and extent vary by location and insurance plans. Some private health insurance plans may offer partial coverage, while most patients ultimately pay out of pocket for LASIK surgery. Costs can vary based on the surgeon's expertise, the technology used, and the facility, with financing options available at some LASIK clinics to help manage expenses.

Competitive Landscape

Key Players

Here are some of the major key players in the China LASIK Surgery

• Abbott
• Bausch Health Companies Inc.
• Ziemer Group AG
• Carl Zeiss Meditec AG
• Johnson & Johnson
• Nidek Co. Ltd.
• Topcon Corporation
• EyeCare Partners LLC
• Coherent Inc.
• LCA Vision Inc. dba