Refractive Surgery Devices Market by Product (Lasers, Microkeratome, Abberometers, and Others), End User (Hospitals, Ophthalmic Clinics, and Ambulatory Surgical Centers), and Geography: Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026859 | Pages: 100 | Industry: Medical Device | Date: Oct 2022 | Type: Global

The market crossed the US$ 188.43 billion mark in 2022 and is expected to hit US$ 337.71 billion by 2030, recording a CAGR of 7.6% during the forecast period. 

The refractive surgery devices market has been significantly growing with Increasing geriatric population

Rise in prevalence of vision disorder, increasing geriatric population, and increase in investment in R&D activities in refractive surgery devices by various healthcare companies are some of the major factors driving the market's growth. Increasing geriatric population is driving the growth of refractive surgery devices market due to the increasing age-related eye diseases. According to the U.S. Department of Health & Human Services, the leading causes of blindness and low vision in the United States are primarily age-related eye diseases such as age-related macular degeneration, cataract, diabetic retinopathy, and glaucoma. Furthermore, according to the World Health Organization (WHO), the global population of people aged 60 years and older is constantly increasing, and it will double to around 2.1 billion from 1 billion in 2020. Also, the same age group is expected to be approximately 1.4 billion by 2030. Likewise, the number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. Thus, the rising geriatric population is creating a demand for refractive surgery devices owing to incidences of eye diseases among older people, bolstering market growth.

The lasers segment under the product segment is expected to pace with reduced reaction time and rapid outcomes. Further, another segment, such as ophthalmic clinics, is expected to gain traction during the forecasted year.

Within the report, the refractive surgery devices market is segmented into product, end user, and geography. Based on product, the market is further segmented into lasers, microkeratome, abberometers, and others. Based on end user, the market is segmented into hospitals, ophthalmic clinics, and ambulatory surgical centers. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Asia-Pacific Region Empowered the Growth of Futuristic Innovations

Asia-Pacific is expected to witness the fastest growth in refractive surgery devices market owing to the factors such as the increasing geriatric population, rising prevalence of eye-related disorders, and the presence of key players in the region. Furthermore, various countries in Asia Pacific are expected to have high geriatric population which will propel various eye surgeries due to the age-related eye diseases such as glaucoma and catarat. For instance, according to European Parliament, Japan has the world's highest average age (48 years) and is the world's most aging country. As per the Japanese government statistics released in September 2020, more than one in four people in Japan are 65 years of age or older, accounting for 28.7% of the population, or 36.17 million (equivalent to the Polish population). This makes Japan an overwhelmingly large country comprising a growing geriatric population. Thus, the Asia Pacific region holds the high growth opportunity for the market.

High prevalence of refractive errors and vision impairment are among the major factors accelerating the market growth.

Globally there has been a presence of various eye diseases such as cataract, glaucoma, and refractive errors. According to the World Health Organizations (WHO), at least 2.2 billion people have a near or distance vision impairment and around 1 billion people includes those with moderate or severe distance vision impairment or blindness. Thus, the high prevalence of eye diseases and impairment indicates the surge in demand for eye surgeries such as LASIK and LASEK, complementing the refractive surgery devices market's growth during the forecast period.

Recent strategic developments in refractive surgery devices market

The refractive surgery devices market has undergone several significant developments, and a few of these have been mentioned below:

  • In April 2022, Alcon, the global leader in eye care dedicated to helping people see brilliantly, introduced its latest dry eye innovation, the Systane iLux2 Meibomian Gland Dysfunction (MGD) Thermal Pulsation System.
  • In June 2021, iVIS Technologies announced the CE approval on iRes2, iVIS fastest 2.0Khz excimer laser, empowering the smallest 350um laser micro-spot to execute iVis proprietary full automated, real-time controlled, no-touch, cTen surgical procedure, maximizing surgical performance and avoiding intra-operative risks.
  • In April 2021, Johnson & Johnson Vision, launched ACUVUE Abiliti– a new brand for future services and products to help eye care providers and parents in addressing the growing prevalence and concern of myopia in children.

The refractive surgery devices market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Carl Zeiss Medictec AG; Alcon; Bausch & Lomb Incorporated; Ellex Medical; NIDEK CO., LTD.; Ziemer Ophthalmic Systems; SCHWIND eye-tech-solutions; Lumenis; iVIS Technologies; and Johnson & Johnson Vision are among the prominent players operating in the refractive surgery devices market.

Target audience for the report:

  • Medical Device providers
  • Contract Research Organization
  • Device Component Suppliers
  • Surgical Tool Providers
  • Government Agencies
  • Pharmaceutical Companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Product:
    • Lasers
    • Microkeratome
    • Abberometers
    • Others
  • End User:
    • Hospitals
    • Ophthalmic Clinics
    • Ambulatory Surgical Centers
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Carl Zeiss Medictec AG
    • Alcon
    • Bausch & Lomb Incorporated
    • Ellex Medical
    • NIDEK CO., LTD.
    • Ziemer Ophthalmic Systems
    • SCHWIND eye-tech-solutions
    • Lumenis
    • iVIS Technologies
    • Johnson & Johnson Vision

The List of Companies
- Carl Zeiss Medictec AG
- Alcon
- Bausch & Lomb Incorporated
- Ellex Medical
- NIDEK CO., LTD.
- Ziemer Ophthalmic Systems
- SCHWIND eye-tech-solutions
- Lumenis
- iVIS Technologies
- Johnson & Johnson Vision

Report Code
Full Name
Country Name
Email Id
Phone Number
Job Title
Company
Requirement

Note : Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.


Purchase Options
Single User License
$2000
Site License
$3000
Enterprise License
$4000