Egypt LASIK Surgery Market Analysis

Egypt LASIK Surgery Market Executive Summary

Egypt LASIK Surgery Market was valued at $9.88 Mn in 2023 and is predicted to grow at a CAGR of 6.71% from 2023 to 2030, to $15.57 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 Egypt, the prevalence of dry eye disease is alarmingly high at 77.6%, indicating a significant burden of chronic eye conditions. Inherited retinal diseases affect about 0.2% of the population, with isolated retinitis pigmentosa being the most common, accounting for 78.9% of cases. Trachoma remains a major public health issue, with over 90% of residents over 25 showing substantial conjunctival scarring, leading to projections of blind individuals increasing from 420,000 in 1980 to 868,000 by 2020. Market is therefore driven by significant factors like the rising prevalence of vision problems, growing middle class and disposable income, and increasing awareness and marketing. However, the high cost of surgery, limited access to qualified surgeons and facilities, and lack of public insurance coverage restrict the growth and potential of the market.

Market Dynamics

Market Growth Drivers

Rising Prevalence of Vision Problems: With over 29% of adults in Egypt affected by myopia, there’s a substantial need for effective vision correction solutions. This growing patient population increases demand for LASIK surgery, positioning it as a viable option for many. The escalating prevalence of vision issues highlights the urgency for accessible corrective procedures.

Growing Middle Class and Disposable Income: Expanding middle class in Egypt is leading to higher disposable incomes, allowing more individuals to invest in elective surgeries like LASIK. Increased financial capability empowers patients to prioritize their vision health. As more people enter this economic bracket, the potential market for LASIK procedures grows significantly.

Increasing Awareness and Marketing: Enhanced marketing efforts by eye care providers are fostering greater public awareness about the benefits of LASIK surgery. Educational campaigns help demystify the procedure and reduce apprehensions surrounding it. As awareness grows, more potential patients are likely to consider LASIK as a viable option for vision correction.

Market Restraints

High Cost of Surgery: Price of LASIK surgery in Egypt is prohibitive, especially for lower-income individuals. Many potential patients may find the costs unsustainable despite the benefits, leading to lower adoption rates. This financial barrier often forces individuals to forego surgical options in favor of traditional eyewear.

Limited Access to Qualified Surgeons and Facilities: There is a shortage of trained ophthalmologists and advanced LASIK facilities outside major urban centers, limiting access for rural populations. This geographic disparity creates challenges for individuals seeking LASIK, as travel to urban areas can be a significant hurdle. Ensuring wider access to trained professionals is crucial for market expansion.

Lack of Public Insurance Coverage: LASIK surgery is typically not included in Egypt's public health insurance system, which adds to the financial burden for patients. This exclusion makes it difficult for many individuals to afford the procedure, especially those relying on public healthcare. The absence of coverage can deter potential candidates from pursuing surgery altogether.

Regulatory Landscape and Reimbursement Scenario

Egypt has established a regulatory framework to ensure the safety of LASIK surgery, involving key bodies such as the Egyptian Medical Regulatory Authority (EMRA), which oversees the safety and efficacy of medical devices used in the procedure. The Egyptian Medical Syndicate (EMS) ensures that ophthalmologists are qualified and adhere to ethical standards, while the Ministry of Health and Population (MoHP) sets national guidelines for practices, including pre-operative assessments and informed consent protocols. Compliance with these regulations is crucial for maintaining safe and ethical LASIK practices in the country.

Regarding reimbursement, LASIK surgery is generally classified as an elective procedure in Egypt. Some private health insurance plans may cover the surgery, but patients are often required to review their policies carefully to understand the specifics of coverage. Most patients end up paying out of pocket, with costs varying based on the surgeon's experience and the technology used.

Competitive Landscape

Key Players

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

• Schwind eye-tech-solutions
• Abbott
• Technolas Perfect Vision GMBH
• Johnson and Johnson Private Ltd
• Zeimer Ophthalmic System AG
• Alcon Inc.
• Laser Sight Technologies, Inc
• Bausch + Lomb Incorporate
• Carl ZEISS AG
• Nidek Co, Ltd