Refractive Surgery Devices And Equipment Market Trends, Top Companies, Share, Growth And Forecast 2033

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.

Market Overview -
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.

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Growing Geriatric Population With Eye Disorders Fuels Demand For Refractive Surgery Devices
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.

Competitive Landscape -
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

Technological Advancements Drive Innovation In Refractive Surgery Devices
The focus areas for many companies in the refractive surgery devices and equipment market has shifted towards increasing technological advancements in the field of refractive surgery. Advanced technologies used for correcting refractive errors expand the scale of the treatment, reduce the time and labour costs. The new corneal refractive surgical techniques such as femtosecond corneal surgery technique, pseudophakia intraocular lenses, intraocular rings and segments, and corneal stiffening techniques such as collagen crosslinking may impact the market significantly. For instance, the intrastromal femtosecond laser-assisted lenticular corneal excision (Flex-Smile) technique is very effective for myopic cases of up to 10 dioptres with astigmatism up to 3. Also, the advanced femtosecond laser surgical instruments have many unique features such as complete surgical control down to the micron in terms of diameter, depth and edge angle, fast flap creation.

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Key Segments -

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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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