Overview and Scope
Refractive surgery devices and equipment are used in refractive error surgeries, a procedure for correcting or improving vision affected by a refractive error such as near-sightedness (myopia), farsightedness (hyperopia), presbyopia, or astigmatism.
Sizing and Forecast
The refractive surgery devices and equipment market size has grown rapidly in recent years. It will grow from $0.17 billion in 2023 to $0.2 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to vision correction demand, technological advancements, patient safety and satisfaction, aging population.
The refractive surgery devices and equipment market size is expected to see rapid growth in the next few years. It will grow to $0.32 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to customized refractive surgery, emerging markets, myopia control, technological innovations. Major trends in the forecast period include femtosecond laser-assisted cataract surgery, smile surgery, enhanced postoperative monitoring, artificial intelligence (ai) in surgery planning.
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Segmentation & Regional Insights
The refractive surgery devices and equipment market covered in this report is segmented –
1) By Product Type: Microkeratome, Excimer Lasers, Femtosecond Lasers, YAG Lasers
2) By Application: Astigmatism, Near-sightedness, Farsightedness
3) By End User: Hospitals, Ambulatory Surgical Centres, Opthalmology Clinics
North America was the largest region in the global refractive surgery devices (or) equipment market in 2023. Asia-Pacific was the second-largest region in the refractive surgery devices (or) equipment market. The regions covered in the refractive surgery devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
A significant driving factor for the growth of the Refractive surgery devices and equipment market is an increase in the geriatric population worldwide with eye disorders. Age-related macular degeneration is the major cause of loss of vision over the age of 65 years. There are many elderly people with refractive errors who require immediate surgical care to cure visual impairment. The rising elderly population throughout the year increases the demand for refractive surgeries. For example, the elderly population in the USA is steadily growing and by 2030, 70 million Americans will be over 65 years of age. Approximately one in three older people have optic disorders which are boosting the refractive surgery devices and equipment market.
Key Industry Players
Major companies operating in the refractive surgery devices and equipment market include Alcon, Johnson & Johnson, Carl Zeiss AG, Valeant Pharmaceuticals, Ziemer Ophthalmic Systems AG, Nidek Co. Ltd., STAAR Surgical Company, Avedro Inc., Lensar Inc., iVIS Technologies, SCHWIND eye-tech-solutions GmbH & Co. KG, Lumenis Ltd., Ellex Medical Lasers Limited., Visx, Refractec LLC, Topcon Corporation, HOYA Corporation, Glaukos Corporation, IRIDEX Corporation, Aaren-Scientific Inc., Lenstec Inc., Oculentis B.V., Ophtec B.V., Rayner Intraocular Lenses Limited, The HumanOptics AG, PhysIOL, Essilor International, NIDEK Co.Ltd., Quantel Medical SAS, Tracey Technologies, Abbott Medical Optics Inc., Oertli Instrumente AG, Topcon Corporation, Ophtec USA Inc., VisionCare Ophthalmic Technologies Inc., Visioneering Technologies Inc., Z-LASER Optoelektronik GmbH
The refractive surgery devices and equipment market report table of contents includes:
1. Executive Summary
2.Refractive Surgery Devices And Equipment Market Characteristics
3.Refractive Surgery Devices And Equipment Market Trends And Strategies
4.Refractive Surgery Devices And Equipment Market analysis
5.Refractive Surgery Devices And Equipment Market Size And Growth
6.Refractive Surgery Devices And Equipment Segmentation
7.Refractive Surgery Devices And Equipment Regional And Country Analysis
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27.Refractive Surgery Devices And Equipment Competitive Landscape And Company Profiles
28.Refractive Surgery Devices And Equipment Key Mergers And Acquisitions
29.Refractive Surgery Devices And Equipment Future Outlook and Potential Analysis
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