Saudi Arabia LASIK Surgery Market Analysis

Saudi Arabia LASIK Surgery Market Executive Summary

Saudi Arabia LASIK Surgery Market was valued at $60.01 Mn in 2023 and is predicted to grow at a CAGR of 6.71% from 2023 to 2030, to $94.55 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 Saudi Arabia, the prevalence of visual impairment is 13.9%, with blindness accounting for 0.8%, and varying across regions from 0.7% to 6.2%. Severe visual impairment prevalence ranges from 1.5% to 3.8%. Dry eye disease (DED) affects 17.5% of the general population, with a study in Riyadh showing a higher prevalence of 42%, particularly among females and those aged 45 and older. Market is therefore driven by significant factors like rising prevalence, growing disposable income, and government initiatives. However, high costs, cultural considerations, and competition from alternatives 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: Saudi Arabia has a significant portion of its population suffering from myopia, with over 28% of adults affected, according to the Journal of Community Medicine & Primary Care. This large patient pool drives demand for corrective procedures like LASIK surgery, creating a robust market potential.

Growing Disposable Income: Economic growth in Saudi Arabia has led to increased disposable income, enabling more citizens to afford elective procedures like LASIK. Additionally, there's a growing trend towards consumerism and investing in personal appearance and health, further boosting interest in LASIK.

Government Initiatives: The Saudi Arabian government has implemented various healthcare initiatives aimed at improving access to quality healthcare services. While the direct impact on LASIK surgery is not fully clear, these initiatives promote overall eye health awareness, indirectly supporting market growth.

Market Restraints

High Costs: LASIK surgery can be quite expensive in Saudi Arabia, posing a significant financial barrier for many citizens compared to the average national income. This high-cost limits accessibility, making it challenging for a broader population to afford the procedure.

Cultural Considerations: Cultural beliefs in Saudi Arabia may lead to hesitancy towards elective eye surgery. Overcoming this reluctance requires building trust with qualified ophthalmologists and emphasizing the safety and potential benefits of LASIK surgery.

Competition from Alternative: Alternatives like contact lenses and spectacles offer lower upfront costs and non-surgical solutions, making them attractive options for many patients. This competition can reduce the demand for LASIK surgery as patients might opt for these more affordable and less invasive methods.

Regulatory Landscape and Reimbursement Scenario

Saudi Arabia regulates LASIK surgery through key governing bodies to ensure patient safety. The Saudi Food and Drug Authority (SFDA) regulates medical devices, including lasers used in LASIK surgery, ensuring they meet safety and efficacy standards. The Saudi Commission for Health Specialties (SCHS) oversees the licensing and training of healthcare professionals, ensuring ophthalmologists performing LASIK are qualified and meet ethical guidelines. The Ministry of Health (MoH) establishes national health policies, potentially including pre-operative assessments, informed consent procedures, and post-operative care protocols. Key regulations likely include strict pre-operative assessments, use of approved medical devices, mandatory informed consent, and standardized post-operative care.

Regarding reimbursement, LASIK surgery in Saudi Arabia is generally considered elective and typically not covered by the Ministry of Health programs, except in specific cases of severe vision problems. Private health insurance plans may offer partial coverage, so patients should review their policies for details. Most patients end up paying out-of-pocket, with costs varying based on the surgeon's experience, technology used, and the facility. Some LASIK clinics may offer financing options to help manage the cost.

Competitive Landscape

Key Players

Here are some of the major key players in the Saudi Arabia LASIK Surgery

• Eye Mantra
• Abbott
• BatalEyeCenter
• Johnson and Johnson Private Ltd
• Zeimer Ophthalmic System AG
• Vezeeta
• Laser Sight Technologies, Inc
• Bausch + Lomb Incorporate
• Carl ZEISS AG
• Nidek Co, Ltd