Small Incision Lenticule Extraction Equipment Research: CAGR of 12.6% during the forecast period

QY Research Inc. (Global Market Report Research Publisher) announces the release of 2025 latest report "Small Incision Lenticule Extraction Equipment- Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031". Based on current situation and impact historical analysis (2020-2024) and forecast calculations (2025-2031), this report provides a comprehensive analysis of the global Small Incision Lenticule Extraction Equipment market, including market size, share, demand, industry development status, and forecasts for the next few years.

The global market for Small Incision Lenticule Extraction Equipment was estimated to be worth US$ 156 million in 2024 and is forecast to a readjusted size of US$ 357 million by 2031 with a CAGR of 12.6% during the forecast period 2025-2031.

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Small Incision Lenticule Extraction Equipment Market Summary

The Small Incision Lenticule Extraction (SMILE) equipment market represents a specialized but increasingly important segment of ophthalmic surgical technologies, sitting within the broader field of refractive surgery equipment. Unlike LASIK, which requires both an excimer laser and a femtosecond laser to create a corneal flap and then reshape the corneal stroma, SMILE uses a femtosecond laser alone to create a lenticule inside the cornea, which is then extracted through a very small incision. This streamlined approach reduces the number of machines and consumables required per procedure, provides better corneal biomechanical stability, and often reduces the incidence of post-operative dry eye. These clinical advantages are directly shaping the market for SMILE equipment because clinics and surgeons increasingly view investment in such technology as a way to differentiate their services, attract patients seeking minimally invasive options, and improve long-term outcomes.

The market itself is relatively concentrated, with a few manufacturers holding a dominant position due to the regulatory and technological barriers required to develop, certify, and commercialize femtosecond laser platforms capable of performing SMILE. Zeiss, with its VisuMax system and its newer VisuMax 800 platform, has established itself as the pioneer and continues to occupy a strong leadership position. The market structure is therefore characterized by high barriers to entry, capital-intensive R&D requirements, and a need for long-term surgeon training and support infrastructure, which together create a high degree of vendor lock-in. However, as patents expire and as other ophthalmic device manufacturers work on comparable femtosecond laser systems, the market may see an increase in competition in the coming years.

According to the new market research report "Global Small Incision Lenticule Extraction Equipment Market Report 2024-2031", published by QYResearch, the global Small Incision Lenticule Extraction Equipment market size is projected to grow from USD 155.85 million in 2024 to USD 357 million by 2031, at a CAGR of 12.6% during the forecast period.

This report profiles key players of Small Incision Lenticule Extraction Equipment such as ZEIS, Ziemer, Schwind, Johnson & Johnson, etc.

In 2024, the global top four Small Incision Lenticule Extraction Equipment players account for 95% of market share in terms of revenue.

ZEISS is widely regarded as the pioneer of SMILE technology. Its femtosecond laser platform, known as VisuMax, was the first device to enable SMILE surgeries in routine clinical practice. The company began its journey in refractive surgery technologies decades ago, initially excelling in excimer laser platforms for LASIK. However, recognizing the limitations of flap-based procedures, ZEISS invested heavily in femtosecond laser research. By the late 2000s, ZEISS had introduced SMILE as a new category of minimally invasive vision correction. The VisuMax femtosecond laser system became the backbone of this technique, offering high precision in tissue cutting, a curved contact glass to minimize pressure on the cornea, and a patient-friendly experience with shorter treatment times. Clinical trials conducted in Europe and Asia demonstrated its safety, efficacy, and stability, leading to rapid adoption across many countries. ZEISS also played a major role in achieving regulatory approvals, such as FDA clearance for SMILE in the United States in 2016, which solidified its global leadership in this sector.

Over time, ZEISS continued refining the VisuMax platform to make SMILE procedures more versatile. The company worked on extending the indications beyond simple myopia to include astigmatism and, more recently, presbyopia-related solutions. Continuous software updates, improved user interfaces, and surgeon training programs helped enhance clinical outcomes and expand acceptance among ophthalmologists. Today, ZEISS is not only viewed as a device manufacturer but also as a knowledge partner, supporting refractive surgeons worldwide through workshops, clinical studies, and integrated workflow solutions. Its commitment to innovation has allowed SMILE to transition from being a niche procedure to a mainstream option in refractive surgery.

In parallel, Ziemer Ophthalmic Systems, a Swiss company known for its compact and versatile femtosecond laser platforms, has also contributed to the development of SMILE-related equipment. While ZEISS pioneered the original SMILE technique, Ziemer entered the field with the goal of providing greater flexibility, portability, and affordability in femtosecond laser systems. Ziemer's FEMTO LDV series is well recognized for its low-energy, high-frequency laser pulses that enable smooth tissue cutting with minimal collateral damage. Originally developed for flap creation in LASIK and corneal procedures, Ziemer has been adapting its technology toward lenticule creation and extraction as well. The company's research collaborations with surgeons and academic institutions have focused on optimizing laser parameters for lenticule precision, incision customization, and potential new variations of SMILE-like techniques.

Unlike ZEISS, which has commercialized SMILE extensively, Ziemer's role is more focused on innovation and expansion of the technology's boundaries. Ziemer emphasizes compact device designs, which make them attractive for clinics with limited space or those seeking cost-effective solutions without compromising quality. Their lasers are also designed to integrate easily with other diagnostic and surgical systems, aligning with the trend toward comprehensive ophthalmic treatment platforms. This approach positions Ziemer as a complementary innovator in the SMILE space, pushing technical refinements that may influence the broader market in years to come.

The development journeys of ZEISS and Ziemer in the SMILE field highlight two distinct but mutually reinforcing trajectories. ZEISS, with its VisuMax, established the clinical foundation and commercial viability of SMILE, while Ziemer is carving its niche by pushing the boundaries of femtosecond laser design and offering practical, surgeon-friendly systems. Together, they represent the dual forces driving the evolution of minimally invasive refractive surgery: proven clinical excellence and continuous technological refinement. As global demand for vision correction rises, and as patients increasingly seek minimally invasive options, the contributions of ZEISS and Ziemer will remain central to advancing the adoption and evolution of SMILE worldwide.

Survey shows:

In the first half of 2025, Aier Eye Hospital reported an 11.14% year-on-year increase in revenue from its refractive surgery segment. A significant driver of this growth has been the widespread patient acceptance and accelerated clinical adoption of new procedures such as Total Refractive Solution (TRS) by Alcon, SMILE 4.0, and SMILE pro. These advanced techniques have contributed to the continuous optimization of the refractive service mix and a rise in the average procedure price. Similarly, Huaxia Eye Hospital achieved a 13.75% year-on-year growth in refractive revenue, partly attributable to its timely introduction and active promotion of advanced techniques like ZEISS's SMILE pro, SMILE 4.0, and Alcon's TRS. This strategic focus on upgrading its portfolio of refractive services has effectively enhanced the value and composition of its surgical offerings.

Both He Eye Specialist Hospital and Bright Eye Hospital also recorded modest growth in their refractive surgery segments. Their financial reports highlighted that the introduction of the latest-generation all-femtosecond equipment and the upgrading of refractive surgical techniques have enhanced their market competitiveness.

In the field of cataract treatment, the impact of the intraocular lens (IOL) volume-based procurement policy on ophthalmic medical institutions has been evident, with most experiencing declines in both revenue and gross margin. Similarly, accelerating technological iteration and upgrading surgical techniques have become critical measures to "rescue" cataract programs. For instance, the introduction of new-generation femtosecond laser systems for cataract surgery and the promotion of FLACS (femtosecond laser-assisted cataract surgery) have emerged as key strategies for institutions to mitigate declining revenue in this segment.

The proactive adoption and promotion of new equipment and surgical techniques by healthcare institutions have directly driven upstream equipment sales. Taking ZEISS's all-femtosecond portfolio as an example: although its previous-generation systems and earlier SMILE 3.0 and SMILE 4.0 procedures still hold significant market share, the latest VISUMAX 800 model has been enthusiastically embraced by both institutions and patients.

According to data released by Zeiss, after its launch, the VISUMAX 800 was officially installed in hospitals in May 2025. In just three months by the end of August, its installations had covered 63 medical institutions across China. Additionally, the number of SMILE pro procedures performed using the VISUMAX 800 exceeded 20,000 within the same three-month period. Liu Yonghua, Head of Zeiss Group China, stated that a decade ago, it took two and a half years to reach 10,000 all-femtosecond (SMILE) procedures. Today, however, the number of SMILE pro procedures has surpassed 20,000 in just three months-representing nearly a 10-fold increase in speed.

In summary, within the fields of refractive and cataract surgery, the trend of high-end equipment-represented by femtosecond lasers-driving revenue growth on the service side is becoming increasingly evident. This not only reflects the structural shift in the sources of revenue and profit for ophthalmic institutions but also underscores the strong patient demand for new technologies and advanced surgical procedures.

Market development also faces challenges:

The Small Incision Lenticule Extraction (SMILE) procedure has grown in recognition as a minimally invasive refractive surgery method, offering advantages over traditional LASIK and PRK. However, despite its potential, the development of the SMILE equipment industry has been slowed by several obstacles. These factors are rooted in technology limitations, market competition, regulatory challenges, surgeon adoption rates, and patient awareness. An in-depth analysis of these hindrances reveals why the industry has not yet reached the same scale as more established vision correction methods.

One of the most significant barriers is the high cost of equipment acquisition and maintenance. SMILE requires advanced femtosecond laser systems, which are considerably more expensive than traditional excimer laser systems used in LASIK. The initial capital investment for devices like ZEISS VisuMax or Ziemer's FEMTO LDV series can run into several hundred thousand dollars, posing a major financial hurdle for smaller ophthalmology clinics. In addition, the ongoing costs of service, consumables, and software upgrades add to the financial burden. Many clinics in developing regions cannot justify such investments, especially when LASIK continues to generate patient demand at lower costs.

A second limiting factor is the restricted availability of SMILE-capable platforms. Unlike LASIK, which can be performed with devices from a range of manufacturers, SMILE has been largely dominated by ZEISS, with Ziemer and a few other players only recently entering the field. This concentration of supply reduces competitive pricing and slows down widespread adoption. Furthermore, the limited number of approved systems creates technological dependency, preventing smaller manufacturers from contributing to innovation or reducing overall costs.

Regulatory challenges also hinder growth. In many countries, obtaining approval for medical devices and new surgical techniques is a long and costly process. For example, it took several years for the U.S. Food and Drug Administration (FDA) to approve SMILE, even after it was already widely used in Europe and Asia. Such delays not only limit access to markets but also slow clinical research and global standardization. Surgeons and patients in regions with slower regulatory processes remain dependent on older procedures, reducing the overall pace of SMILE adoption.

Another major obstacle is the learning curve for surgeons. While the SMILE procedure is minimally invasive, it requires precise handling of femtosecond laser technology and lenticule extraction, which can be more technically demanding than flap-based LASIK. Surgeons must undergo specialized training to achieve consistent results, and early cases may present difficulties such as incomplete lenticule removal or prolonged surgery times. This barrier discourages some ophthalmologists from adopting the procedure, particularly those who are already comfortable with high-volume LASIK surgeries. Without widespread surgeon adoption, the market for SMILE equipment cannot expand rapidly.

Patient awareness and acceptance also play a role. While SMILE offers biomechanical advantages and faster healing, it remains less well-known than LASIK, which has been marketed extensively for decades. Many patients are not fully aware of SMILE as an option, leading them to choose LASIK or even non-surgical vision correction alternatives such as contact lenses. This lack of awareness reduces demand at the consumer level, making it harder for clinics to justify the purchase of expensive SMILE equipment.

Lastly, regional disparities in infrastructure and healthcare investment slow the global expansion of SMILE equipment. In developed markets like Europe, the U.S., and parts of Asia, adoption is growing, but in emerging economies, access to capital, trained surgeons, and regulatory frameworks remain inadequate. Since these regions account for large populations with potential refractive surgery demand, slow development there hinders overall market growth.

In conclusion, while SMILE technology represents an important advancement in refractive surgery, the market for SMILE equipment faces numerous challenges. High costs, limited competition, regulatory barriers, surgeon training requirements, narrow treatment indications, and patient awareness issues collectively slow the industry's development. Overcoming these obstacles will require not only technological improvements and cost reductions but also broader educational initiatives, regulatory harmonization, and more inclusive clinical applications. Until these barriers are addressed, SMILE will continue to grow at a slower pace compared to the widespread adoption seen in LASIK and other vision correction methods.

The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.

The Small Incision Lenticule Extraction Equipment market is segmented as below:
By Company
ZEIS
Ziemer
Schwind
Johnson & Johnson

Segment by Type
Myopia Treatment
Astigmatism Treatment
Myopia + Astigmatism Treatment

Segment by Application
Hospitals
Ophthalmology Clinic
Others

Each chapter of the report provides detailed information for readers to further understand the Small Incision Lenticule Extraction Equipment market:

Chapter 1: Introduces the report scope of the Small Incision Lenticule Extraction Equipment report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2020-2031)
Chapter 2: Detailed analysis of Small Incision Lenticule Extraction Equipment manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2020-2025)
Chapter 3: Provides the analysis of various Small Incision Lenticule Extraction Equipment market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2020-2031)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2020-2031)
Chapter 5: Sales, revenue of Small Incision Lenticule Extraction Equipment in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2020-2031)
Chapter 6: Sales, revenue of Small Incision Lenticule Extraction Equipment in country level. It provides sigmate data by Type, and by Application for each country/region.(2020-2031)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2020-2025)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Benefits of purchasing QYResearch report:

Competitive Analysis: QYResearch provides in-depth Small Incision Lenticule Extraction Equipment competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.

Industry Analysis: QYResearch provides Small Incision Lenticule Extraction Equipment comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.

and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.

Market Size: QYResearch provides Small Incision Lenticule Extraction Equipment market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.

Other relevant reports of QYResearch:
Global Small Incision Lenticule Extraction Equipment Market Research Report 2025
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Global Small Incision Lenticule Extraction Pro Equipment Market Research Report 2025
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