Japan LASIK Surgery Market Analysis

Japan LASIK Surgery Market Executive Summary

Japan LASIK Surgery Market was valued at $219.42 Mn in 2023 and is predicted to grow at a CAGR of 5.71% from 2023 to 2030, to $323.66 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 Japan, the incidence of Thyroid Eye Disease (TED) ranges from 7.3 to 11.1 per 100,000 person-years, with a prevalence of 24.65 to 37.58 per 100,000 individuals. Dry Eye Disease (DED) is also significant, with severe dryness symptoms reported in 28% of men and 35% of women among contact lens wearers, leading to an annual health cost of approximately $323 per patient and productivity losses between $741 and $6,160. Additionally, the prevalence of Diabetes Mellitus (DM) increased from 3.8% in 2005 to 4.2% in 2014, with diabetic retinopathy affecting 23.6% of DM patients. The market is therefore driven by significant factors like aging population and presbyopia, technological advancements, and established ophthalmology market. However, the high cost of surgery, cultural considerations, 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

Aging Population and Presbyopia: Japan's rapidly aging population, with over 26% aged 65 or older, leads to a higher incidence of presbyopia. As more individuals reach the age where vision correction becomes necessary, LASIK surgery presents a viable option for improving their eyesight and quality of life. This expanding patient pool significantly boosts demand for LASIK procedures.

Technological Advancements: Japan's reputation as a leader in technological innovation translates to continuous advancements in LASIK technology. These innovations enhance the safety, precision, and outcomes of LASIK procedures, making them more appealing to potential patients. The constant evolution of technology supports the growing adoption of LASIK surgery in the country.

Established Ophthalmology Market: Japan has a well-developed ophthalmology market characterized by high standards of care and numerous skilled practitioners. This established infrastructure facilitates the expansion of LASIK surgery services, ensuring patients have access to quality care. A robust ophthalmology sector reinforces confidence in undergoing LASIK procedures.

Market Restraints

High Cost of Surgery: Despite high disposable incomes, the cost of LASIK surgery can still pose a significant financial burden for many patients. Prices vary based on factors like surgeon expertise, technology utilized, and facility reputation, which can deter individuals from opting for the procedure. This variability in cost may limit access to LASIK for some segments of the population.

Limited Public Insurance Coverage: LASIK surgery is generally not covered by Japan's public health insurance, placing the entire financial responsibility on patients. This lack of coverage can be a major deterrent for those considering the surgery, as it adds to the overall expense and financial burden. Consequently, many individuals may choose to forego the procedure altogether.

Cultural Considerations: In Japan, there is a cultural preference for using glasses or contact lenses for vision correction rather than undergoing surgery. Overcoming this long-standing preference and building trust in LASIK as a safe and effective option is essential for market growth. Education and awareness campaigns can help shift public perception and increase acceptance of LASIK.

Regulatory Landscape and Reimbursement Scenario

Japan has a strict regulatory framework for LASIK surgery, governed by key bodies such as the Ministry of Health, Labour and Welfare (MHLW), which sets national health policies and oversees the approval of LASIK lasers to ensure safety and efficacy. The Pharmaceuticals and Medical Devices Agency (PMDA) specifically regulates medical devices, ensuring they meet rigorous safety standards, while the Japan Ophthalmic Society (JOS) provides clinical practice guidelines that address pre-operative assessments, surgical techniques, and postoperative care protocols. Key regulations include mandatory pre-operative assessments, use of approved lasers, adherence to established surgical protocols, informed consent procedures, and standardized post-operative care.

LASIK surgery in Japan is primarily viewed as an elective procedure, leading to limited public insurance coverage under the National Health Insurance (NHI), which does not typically include LASIK due to its non-essential nature. Some private health insurance plans may offer partial coverage, but details vary, making it essential for patients to review their policies. As a result, most patients end up paying for LASIK surgery out of pocket, with costs influenced by the surgeon's experience, technology used, and facility reputation. Some clinics may offer financing options to help manage these expenses.

Competitive Landscape

Key Players

Here are some of the major key players in the Japan 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