Innovations - Healthcare Sector: Laser Eye Surgery

Innovations- Healthcare Sector: Laser Eye Surgery

“Innovations are qualitatively new products or processes, which distinguish themselves significantly from previous ones” (Hauschildt, 2004 cited by Strecker, 2007). As the healthcare industry maintains its position as one of the fastest growing sectors of the global economy, demand is increasing to drive the innovation of high value-added technologies. New clinically beneficial and state of the art products are thereby being sought out in order to achieve competitive advantage over existing products and services in the industry.

Ophthalmology, “the branch of medicine concerned with the various diseases of the eye and their cure” (Medical FAQ, 2011) is, as illustrated below, a particularly lucrative industry within developed nations, such as the UK, Japan and Germany. It can be observed that the US has an ophthalmic sector worth in excess of $6bn, of which approximately $0.5bn can be attributed to emergent refractive eye care procedures.

Laser Eye Surgery, a subdivision of refractive surgery, entered the healthcare market in the US in 1998, following the “approval of the FDA (food and drug administration) for correcting long sightedness, short sightedness and astigmatism” (Treatment Saver, 2011). This was reciprocated shortly after by a number of European countries. At the outset, only trained surgeons experienced in laser surgery were permitted to perform the procedure. However as successful results were realised, demand increased and new techniques were developed allowing individuals to be more actively involved in planning their surgery. Laser Eye Surgery, often referred to as Lasik, is a refractive procedure used to re-sculptor the cornea to give the patient clear vision. This procedure is designed to “treat refractive errors, improve vision, and reduce or eliminate the need for glasses or contact lenses” (Medicine Net, 2004) employs a microkeratome to create a corneal flap exposing the corneal tissue. A specific type of laser, an excimer, is then utilized to ablate the cornea in a pre-specified pattern for each patient.

This essay will assess the emergence of Laser Eye Surgery to the healthcare market, the benefits and weaknesses of this advancement and the challenges it faces. Furthermore it will aim to critically compare Laser Eye Surgery to previous eye care innovations in this sector.

The most recognizable treatment in support of the large majority of vision anomalies is “without question using eyeglasses or perhaps contact lens” (The Eye Surgery Center, 2010). In this respect, how did Laser Eye Surgery gain the large demand which it faces today? The concept of Primary Eye Care (PEC) which encompasses the treatment and referral of individuals with potentially blinding eye diseases, is ever-increasing its importance within society. In addition, a raise