In Mature LASIK Market, Competition, Recession Bring Down Prices

NEW YORK, NY -- (Marketwire) -- 07/08/09 -- Up to half of the world's population will need corrective vision at some stage in their lives. But only about 10% of them will be diagnosed and treated, leaving an enormous potential pool of customers. Fulfilling this demand for both traditional and advanced refractive vision correction (RVC) treatments will propel the ophthalmology market to become one of the largest healthcare sectors over the next ten years. According to a new report from leading life science market research publisher Kalorama Information, "Advances in Ophthalmology: Markets in the Treatment of Eye Disorders and Corrective Vision, 2nd Edition," the popular RVC procedure LASIK is performed between 1.1 and 1.4 million per year in the U.S. alone and physician fees exceed $2 billion per year.

LASIK surgery was first introduced more than ten years ago and is now a mature industry with many providers and healthy 95% patient satisfaction rate. But this pool of candidates is diminishing in part due to fears of falling in the 2-5% of patients who experience problems and partly due to the current recession -- in early 2009 some clinics reported a 50% decrease in surgeries compared to early 2008. Patients are waiting out the economy before spending money on elective procedures.

"The U.S. LASIK market is approaching saturation and that's great for consumers," says Bruce Carlson, publisher of Kalorama Information. "Competition between vision care centers, ophthalmologist offices, and eye clinics has pushed prices down making LASIK procedures affordable to many more prospective patients. Special advertised pricing, promotions, and payment and financing plans are also bringing in new patients."

source: Marketwire