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What's Driving the Refractive Surgery Devices And Equipment Market 2025-2034: Growing Geriatric Population With Eye Disorders Fuels Demand For Refractive Surgery Devices
Refractive Surgery Devices And Equipment Global Market Report 2025
There has been a considerable expansion in the refractive surgery devices and equipment market recently. The market size is set to rise from $1.02 billion in 2024 to $1.12 billion in 2025, registering a Compound Annual Growth Rate (CAGR) of 9.7%. The prior period's growth can be credited to factors like the demand for vision correction, advances in technology, patient safety and satisfaction and the aging population.
The market size for refractive surgery devices and equipment is projected to experience robust growth in the coming years, expanding to $1.42 billion by 2029 with a compound annual growth rate (CAGR) of 6.2%. This expected growth during the forecast period is largely due to factors such as personalized refractive surgery, myopia control, technological advancements and the advent of emerging markets. Noteworthy trends anticipated during the forecast period include cataract surgery assisted by femtosecond laser, smile surgery, improved postoperative supervision, and the incorporation of artificial intelligence (AI) in surgical planning.
What Are the Main Catalysts for Growth in the Refractive Surgery Devices And Equipment Market?
The augmentation of the Refractive surgery devices and equipment market is largely influenced by the escalating number of elderly individuals around the globe suffering from eye conditions. The leading cause of vision loss in people over 65 is age-related macular degeneration. A number of these senior citizens with refractive errors necessitate swift surgical interventions to treat their visual impairment. The steadily growing elderly populace over the years elevates the need for refractive surgeries. For instance, there is a consistent increase in the older population in the USA, and by 2030, over 65-year-olds will constitute 70 million of the population. Around one-third of these older individuals suffer from eye disorders, which furthers the expansion of the refractive surgery devices and equipment market.
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Which Businesses Are at the Forefront of Refractive Surgery Devices And Equipment Market Development?
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
What Are the Latest Innovations in the Refractive Surgery Devices And Equipment Market?
Numerous organizations in the refractive surgery devices and equipment market have redirected their focus towards escalating technological advancements in the area of refractive surgery. These advanced technologies aid in broadening the scope of treatment, as well as in lowering the labor and time costs. Novel corneal refractive surgical methods like the femtosecond corneal surgery technique, pseudophakia intraocular lenses, intraocular rings and segments, and corneal stiffening techniques such as collagen crosslinking could majorly influence the market. For example, the Flex-Smile technique, an intrastromal femtosecond laser-assisted lenticular corneal excision, has been found to be extremely effective in treating myopic cases of up to 10 dioptres with astigmatism of up to 3 dioptres. Additionally, the advanced femtosecond laser surgical tools possess distinctive features including extreme surgical precision ranging to the micron level regarding diameter, depth, and edge angle along with quick flap creation.
How Is the Refractive Surgery Devices And Equipment Market Segmented?
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
Subsegments:
1) By Microkeratome: Disposable Blades, Automated Microkeratome Systems
2) By Excimer Lasers: LASIK Excimer Lasers, PRK Excimer Lasers
3) By Femtosecond Lasers: Femtosecond LASIK Lasers, Femtosecond Cataract Lasers
4) By YAG Lasers: Posterior Capsulotomy YAG Lasers, Peripheral Iridotomy YAG Lasers
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Where Is the Refractive Surgery Devices And Equipment Market Growth Most Prominent?
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.
What Is Covered In The Refractive Surgery Devices And Equipment Global Market Report?
- Market Size Analysis: Analyze the Refractive Surgery Devices And Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Refractive Surgery Devices And Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Refractive Surgery Devices And Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Refractive Surgery Devices And Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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