Refractive Surgery Device Market to Reach USD 213 Million by 2024, Projected to Grow at 3.90% CAGR through 2034

The global refractive surgery device market is poised for substantial growth, with its valuation expected to reach USD 213.0 million by 2024. This market is forecasted to maintain a CAGR of 3.90% from 2024 to 2034, offering an absolute dollar opportunity of USD 312.3 million by the end of the forecast period. This surge underscores the rising global demand for vision correction solutions driven by key demographic and lifestyle shifts.

The primary growth drivers for this market are the increasing elderly population and the surge in screen time due to the Covid-19 pandemic. As the world adjusts to hybrid work models and increased reliance on digital devices, the strain on eye health has led to a heightened demand for refractive surgery devices. This trend is particularly prominent in regions with aging populations, where the prevalence of age-related vision issues is on the rise.

Market players are expected to capitalize on this demand by introducing advanced, minimally invasive refractive surgery technologies. The rise in awareness about the benefits of refractive surgery, coupled with technological advancements, is likely to further fuel market expansion. As the need for improved vision care becomes a global priority, industry stakeholders are focusing on innovations that enhance safety, precision, and patient outcomes.

The refractive surgery device market represents a significant growth opportunity for manufacturers, healthcare providers, and investors alike. With increasing global awareness of eye health, coupled with technological advancements in surgical procedures, the sector is on track for sustained growth through 2034. Companies that can deliver innovative, patient-centric solutions are expected to lead in this dynamic market.

A Full Report Overview - https://www.futuremarketinsights.com/reports/refractive-surgery-devices-market

Key Takeaways:

Market Valuation: The global refractive surgery device market is projected to reach USD 213.0 million by 2024.

Growth Momentum: Market growth will continue at a compound annual growth rate (CAGR) of 3.90% from 2024 to 2034.

Revenue Opportunity: The market is expected to generate an absolute dollar opportunity of USD 312.3 million by 2034.

Growth Drivers:

Aging Global Population: The increasing number of elderly individuals is contributing to a higher prevalence of vision problems, necessitating refractive surgeries.

Increased Screen Time: Lifestyle changes post-COVID-19 have led to more screen time, resulting in a rise in vision-related issues that require correction.
This growth trajectory highlights the importance of refractive surgery devices in addressing the evolving needs of patients seeking vision correction solutions. As the market continues to develop, advancements in technology and increasing awareness about eye health will likely further drive demand for these devices.

Competitive Landscape

Due to their prolonged presence, the market for refractive surgery devices is filled with companies with a strong foothold in the international marketplace. Hospitals, ambulatory surgical centers, and emergency clinics rely on these companies for the devices required for refractive surgeries.

Some of the most prominent companies in the market are Alcon Inc., Carl Zeiss Meditec AG, Johnson & Johnson Vision, Bausch + Lomb, NIDEK Co., Ltd., and Ziemer Ophthalmic Systems AG. These companies invest billions of dollars to come up with new technologies to make the surgery process more convenient, effective, and less time-consuming.

Recent Developments

In June 2023, Eye-Q introduced an Advanced Customised LASIK machine at its Rewari eye-care facility, revolutionizing laser vision correction and eliminating the need for patients to travel to Gurugram. The hospital aimed to enhance the quality of life for individuals, particularly youth aged 18-35, by offering world-class eye-care treatments.
In September 2023, Alcon unveiled its largest-ever scientific program at the 41st Congress of the ESCRS in Vienna, Austria. The event showcased over 75 abstracts, presenting new data and innovations supporting ophthalmic surgical teams across cataract, refractive, visualization, and ocular health fields.

Key Companies in the Market

Alcon Inc.
Carl Zeiss Meditec AG
Johnson & Johnson Vision
Bausch + Lomb
NIDEK Co., Ltd.
Ziemer Ophthalmic Systems AG
STAAR Surgical Company
Abbott Medical Optics
Topcon Corporation
Essilor International
Lumenis Ltd.
HOYA Corporation
Haag-Streit AG
Schwind eye-tech-solutions GmbH
iVIS Technologies
Oculentis GmbH
NIDEK Technologies Srl
Optovue, Inc.
OCULUS Optikgeräte GmbH
Rayner Intraocular Lenses Limited

Refractive Surgery Device Market Segmentation

By Product Type:

Lasers
Microkeratome
Aberrometers
Other Product Types

By Application:

Myopia
Hyperopia
Astigmatism
Presbyopia
Dry Eyes

By End-use:

Hospitals
Ambulatory Surgery Centers
Ophthalmology Clinics

By Region:

North America
Latin America
Asia Pacific
Middle East and Africa (MEA)
Europe

Explore FMI's Related Ongoing Coverage on Healthcare Market Insights Domain:

Europe Platelet Rich Plasma (PRP) Market - https://www.futuremarketinsights.com/reports/europe-platelet-rich-plasma-market
Silent Scan Technology Market - https://www.futuremarketinsights.com/reports/silent-scan-technology-market
Specialty Active Pharmaceutical Ingredients Market - https://www.futuremarketinsights.com/reports/specialty-active-pharmaceutical-ingredients-market

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-347-918-3531

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

This release was published on openPR.