04.30.20

Market Scope: New Refractive Atlas Identifies Location of LVC Candidates and Refractive Surgeons

Source: Market Scope

The metro areas of New York, Los Angeles, Dallas, and Chicago account for 14 percent of the population age 20 to 44 in the US and 9.3 percent of the US population with refractive error, according to a Market Scope report.

However, on a per capita share basis, most of the metro areas in Colorado stand out for their potential pool of refractive patients, driven largely by the state’s highly educated and active population. Boulder and Fort Collins are new honorable mentions in 2020, and Denver and Boston move up in rank.

These insights and more can be found in Market Scope’s “2020 United States Refractive Atlas,” which provides an objective, data-driven tool to compare the refractive market opportunity across US geographies. The 2020 edition includes a count by metro area of the refractive error population, refractive surgeons and facilities, and multiple metrics to benchmark against other metros and regions.

Boulder and Trenton have notable concentrations of refractive surgeons. San Jose and Fort Collins have high concentrations of candidates for refractive surgery. Madison and Memphis have above average annual volumes at corporate and surgeon-owned facilities.

To understand the potential for refractive surgery more completely, the firm has analyzed the US refractive error population, population by age, income and health status, education levels, refractive surgery trends, and aggregate facilities and providers by geographic area. Combining these data creates a picture of the overall US refractive market opportunity by detailed geography.

Market Scope has developed the MedOp Index Analysis to estimate the opportunities for refractive surgery in each metro area. This proprietary methodology identifies the potential based on the key demographics of the population, volume and concentration of refractive surgeons, surgical volumes, and LVC and ASC locations.

The MedOp Index Analysis uncovers trends and pockets of opportunity throughout the US; metros are ranked and benchmarked against one another. As an example, Denver and Pittsburgh are similar in population size, yet Denver scores much higher (ranked 8th) than Pittsburgh (ranked 48th). The population of Denver is younger, with a median age of 36.6 versus 43.1 in Pittsburgh. Denver also has a much higher median income and 1.4 million residents with myopia compared with Pittsburgh’s 1.1 million residents with myopia. 

Many LVC centers across the US were closed entirely for most of March and April; most surgeons continued to offer online consultations and schedule procedures for future dates. The implications of COVID-19 on elective surgery has been considered in the firm’s forecasts. As of the end of Q1-2020, Market Scope has reduced their US refractive surgery forecast by 30 percent, assuming a full quarter of refractive procedures lost. The economic impact and influence on consumer confidence and consumer price index will likely be significant in 2020.    

Market Scope’s “2020 United States Refractive Atlas” was published in April.

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