South Africa LASIK Surgery Market Analysis

South Africa LASIK Surgery Market Executive Summary

South Africa LASIK Surgery Market was valued at $22.95 Mn in 2023 and is predicted to grow at a CAGR of 6.44% from 2023 to 2030, to $35.52 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 South Africa, the prevalence of vision loss is 9.2% among the general population, with older age, female sex, and diabetes being significant risk factors. Among older persons, moderate and severe visual impairment (VI) prevalence is 2.0%. Common eye diseases include glaucoma (3.1% to 2.7%), cataracts (8.1% to 11.4%), and retinal degeneration (3.4% to 3.8%). Uncorrected refractive errors, a major cause of visual impairment, highlight the need for corrective surgeries like LASIK. Visual impairment is more prevalent among older adults, particularly in low-income homes, with significant geographical variation, such as lower prevalence in Mpumalanga.

Market is therefore driven by significant factors like the rising prevalence of vision problems, growing disposable income, and technological advancements. However, the high cost of surgery, lack of awareness in underserved areas, and concerns about safety and side effects restrict the growth and potential of the market.

Market Dynamics

Market Growth Drivers

Rising Prevalence of Vision Problems: South Africa has a substantial population with vision issues, with a study published in the South African Journal of Ophthalmology indicating that over 23% of adults in the country suffer from myopia (near sightedness). This large patient pool generates significant demand for corrective procedures like LASIK surgery.

Growing Disposable Income: The disposable income of South Africans has been increasing in recent years, which enhances their spending power and allows more individuals to consider elective procedures like LASIK, thereby improving their quality of life.

Technological Advancements: The field of ophthalmology is continuously advancing, with new and improved LASIK techniques that offer greater precision, faster recovery times, and better patient outcomes, making LASIK a more appealing option.

Market Restraints

High Cost of Surgery: LASIK surgery can be expensive, depending on the surgeon's experience, the technology used, and geographical location. This high cost can be a barrier for some patients, particularly those with limited access to healthcare funding.

Lack of Awareness in Underserved Areas: While awareness of LASIK surgery is increasing, there may still be a lack of knowledge about the procedure, particularly in rural and underserved areas. This can limit access to LASIK for those who might benefit from it.

Concerns About Safety and Side Effects: Despite its safety record, some individuals remain hesitant about LASIK surgery due to concerns about potential side effects such as dry eyes, glare, or infection. This underscores the importance of proper patient education and counselling by ophthalmologists.

Regulatory Landscape and Reimbursement Scenario

South Africa has a comprehensive regulatory framework for medical procedures, including LASIK surgery. Key regulatory bodies include the South African Health Products Regulatory Authority (SAHPRA), which oversees health products and ensures that devices used in LASIK surgery meet safety and efficacy standards. The Health Professions Council of South Africa (HPCSA) regulates healthcare professionals, including ophthalmologists, ensuring they are qualified and adhere to ethical standards. The Department of Health (DoH) sets national health policies and guidelines related to ophthalmic procedures, covering aspects such as informed consent and postoperative care. Compliance with regulations on pre-operative assessments, laser equipment standards, surgical techniques, and post-operative care is crucial for safe and ethical LASIK practice.

LASIK surgery is typically considered an elective procedure in South Africa, meaning it is generally not covered by public health insurance schemes. Private medical insurance may offer coverage for LASIK surgery, depending on the specific plan, but most patients end up paying out of pocket, which can be a significant financial burden. Some LASIK clinics offer financing options to help manage the cost. The lack of public health insurance coverage for LASIK surgery poses a major constraint on affordability and limits access to the procedure for many South Africans.

Competitive Landscape

Key Players

Here are some of the major key players in the South Africa LASIK Surgery

• Dr. Dylan Joseph
• Dr. Frik Potgieter
• Abbott
• Johnson and Johnson Private Ltd
• Carl ZEISS AG
• Nidek Co, Ltd
• Zeimer Ophthalmic System AG
• Alcon Inc.
• Laser Sight Technologies, Inc
• Bausch + Lomb Incorporated