China LASIK Forcast 2013 - 2023

Forecast of Laser Refract ive Surgery in China: 2013 -2023

internally finance many patients who are unable to obtain external financing, accounting for 6% of their booked revenues. xxii As mentioned above, both Aier and Tongren report that “nearly all” of their patients pay with cash.

Reliable data about the current income levels of patients undergoing laser refractive surgery was not readily available. Furthermore, direct comparisons of the ratio of the ASP (average selling price) of laser refractive surgery to median income is not helpful, because of the differing cultural norms for use of credit, and the influence of the one-child policy on increasing the disposable income for persons in their twenties. xxiii Nevertheless, the ratio of median household income in the United States in 2009 (approximately $49,000 xxiv ) to laser refractive surgery (ASP of $1,500 per eye) is 32.6 to 1. The ratio of median household income in China in 2009 ($10,220) to laser refractive surgery (ASP of $1000 per eye based on Aier data) is 10.21. By this metric, laser refractive surgery is three times more affordable in the United States than in China. There is significant regional variation in income levels in China. Figure 5 displays the mean and median personal incomes in urban and rural populations in China in 2011 as reported by the National Bureau of Statistics of China. xxvi USD equivalents are overlaid below the Yuan figures. The per-capita figures do not stratify by age and so do not allow the income figures to be compared to the candidate pool for laser refractive surgery. For the urban population, the ratio of personal median income to ASP of laser refractive surgery per patient (two eyes) is 3:1 in China. The comparable number in the United States in 2009 was $21,000 to $1,500, or 14 to 1. By this metric, laser refractive surgery is 4.7 times more affordable in the United States than in China.

MEAN AND MEDIAN PERSONAL INCOME

Figure 5: Comparision on the mean and median of per capita income of urban and rural residents in 2011 (Source: National Bureau of Statistics of China). xxvi

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