11.08.18

Millennial Demographics Drive Refractive Surgery Opportunity in US

Source: Market Scope

Wealth, health, and education are key factors in determining the opportunity for laser vision correction (LVC) procedures in the US, according to new Market Scope data.

Refractive procedures are strongly driven by the country’s millennial population, and the high opportunity population is made up of a subset of relatively affluent and healthy millennials. Market Scope expects this demographic to make up the majority of the over 796 thousand LVC procedures expected to be performed in 2018.

Market Scope has just completed its 2018 United States Refractive Atlas with an analysis of the top 85 metropolitan areas in the country.

The largest metro areas of New York, Los Angeles, and Chicago account for an estimated 16.6 percent of refractive procedures. However, on a per capita basis, metro areas in Colorado, Utah, Massachusetts, and Minnesota stand out due to large millennial populations and higher per capita refractive procedures. 

When ranked by share of high opportunity population, Bridgeport, Boston, San Jose, and Washington, DC, stand out for their percentage of wealthy population and, thus, patients’ ability to pay for refractive surgery. And Boston, San Francisco, Honolulu, and Minneapolis stand out as areas where millennials are exceptionally active and healthy.

A more complete understanding of the potential for refractive surgery requires an analysis of historical refractive procedures, population by age, education, income, and health status, combined with an analysis of the surgery centers and refractive surgeons by geographic area. When these data points are combined, a complete picture emerges of the overall US refractive market opportunity by detailed geography.

Market Scope has developed the Med/Op Index to estimate the opportunities for refractive surgery in each metropolitan area. This proprietary index identifies the potential based on population age distribution, education level, income/buying power, overall health statistics, and population density.

For more information, visit Market Scope’s “2018 United States Refractive Atlas: A Comprehensive Analysis of Premium Refractive Surgery in United States Metro Areas.”

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