Indonesia LASIK Surgery Market Analysis

Indonesia LASIK Surgery Market Executive Summary

Indonesia LASIK Surgery Market was valued at $21.18 Mn in 2023 and is predicted to grow at a CAGR of 5.21% from 2023 to 2030, to $30.22 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 Indonesia, cataracts are the most prevalent eye disease, affecting 52.6% of the population, followed by refractive errors at 20.9% and conjunctivitis at 12.1%. A study of elderly patients revealed a high prevalence of dry eye disease at 65.3%, primarily due to aqueous-deficient dry eye (44.4%). Additionally, research in Bali indicated that wet age-related macular degeneration is the most common form, occurring in 55.81% of cases, with hypertension found in over half (51.16%) of the affected AMD patients. The market is therefore driven by significant factors like rising prevalence of vision problems, expanding middle class, growing focus on appearance. 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.

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 Vision Problems: Indonesia is experiencing an increasing number of individuals with vision issues. A study in the Indonesian Journal of Ophthalmology found that over 28% of adults in urban areas are affected by myopia, highlighting a substantial potential market for LASIK surgery.

Expanding Middle Class: Growth of Indonesia's middle class is leading to higher disposable incomes. With more financial means available, individuals are increasingly likely to consider elective procedures like LASIK to enhance their quality of life.

Growing Focus on Appearance: There is a rising societal emphasis on personal appearance in Indonesia, and LASIK surgery offers a solution to vision problems without the need for glasses or contact lenses. This concern can motivate patients to pursue LASIK.

Market Restraints

High Cost of Surgery: LASIK surgery tends to be costly in Indonesia, even when compared to the average national income. This financial burden can significantly limit accessibility for many individuals across the population.

Limited Access to Qualified Surgeons and Facilities: The availability of ophthalmologists trained in advanced LASIK techniques and equipped facilities is often concentrated in major cities like Jakarta, making it difficult for those in rural areas to access these services.

Lack of Public Insurance Coverage: LASIK surgery is typically not included in the national health insurance program (JKN) in Indonesia. This exclusion further adds to the financial strain for patients contemplating the procedure.

Regulatory Landscape and Reimbursement Scenario

Indonesia has a structured regulatory framework for overseeing LASIK surgery, ensuring patient safety through various governing bodies. The National Agency of Drug and Food Control (BPOM) regulates medical devices, including lasers used in LASIK, to meet safety and efficacy standards. The Indonesian Medical Association (IDI) sets ethical guidelines for practice, while the Ministry of Health (Kemenkes) establishes national health policies and guidelines for procedures, including pre-operative assessments and informed consent protocols.

LASIK surgery in Indonesia is primarily considered an elective procedure, leading to a complex reimbursement landscape. While some private health insurance plans may offer partial coverage, most patients typically pay out of pocket for the procedure, with costs varying by surgeon and technology used. Limited coverage might be available under the national health insurance program (JKN), but details on eligibility and extent are often unclear, making direct consultation with JKN or healthcare providers essential for up-to-date information.

Competitive Landscape

Key Players

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

• Jakarta Eye Center
• Rumah Sakit Mata
• Siloam Hospitals Group
• BaliMéd Hospital
• KMN EyeCare
• Ciputra SMG Eye Clinic
• Carl ZEISS AG
• Johnson and Johnson Private Ltd
• Zeimer Ophthalmic System AG
• Abbott