The Europe refractive surgery devices market is experiencing significant growth due to the increasing prevalence of refractive errors and the growing demand for vision correction procedures. The advancements in technology, such as excimer lasers, YAG lasers, microkeratomes, and femtosecond lasers, have revolutionized the field of refractive surgery, offering safer and more precise treatment options. These devices enable patients to reduce their dependency on eyeglasses or contact lenses, enhancing their overall quality of life. As awareness about these advanced solutions spreads, the Europe refractive surgery devices market is poised for substantial expansion.
According to Data Bridge Market Research, the Europe Refractive Surgery Devices Market is growing with a CAGR of 7.6% in the forecast period of 2022 to 2029 and is expected to reach USD 746.40 million by 2029 from USD 422.98 million in 2021.
“Continuous technological advancements in the field drive the market growth”
The Europe refractive surgery devices market is being driven by continuous technological advancements in the field. Innovations in laser technologies, imaging systems, and surgical techniques have significantly enhanced the precision, safety, and efficacy of refractive surgery procedures. These advancements have led to improved outcomes and reduced risks for patients, increasing their confidence in undergoing such procedures. As technology continues to evolve, it is expected to further boost the adoption of refractive surgery devices in Europe, driving market growth.
What restraints the growth of Europe refractive surgery devices market?
“Lack of adequate healthcare facilities for eye treatments”
The Europe refractive surgery devices market faces a challenge due to the lack of adequate healthcare facilities for eye treatments. Insufficient availability of specialized clinics and advanced equipment for refractive surgeries hinders the accessibility and timely delivery of eye care services. This limitation can impact the adoption of refractive surgery procedures in the region, potentially restraining the growth of the market.
Segmentation: Europe Refractive Surgery Devices Market
The refractive surgery devices market is segmented into product type, surgery type, application, end user, and distribution channel.
- On the basis of product type, the refractive surgery devices market is segmented into a laser, phakic intraocular lens (IOL), aberrometer/wavefront aberrometry, surgical instruments and accessories, refractive surgery kits, pupillary diameter meters, epikeratomes, microkeratomes, thermokeratoplasty, limbal relaxing incision kits, and others.
- On the basis of surgery type, the refractive surgery devices market is segmented into LASIK (laser in-situ keratomileusis), photorefractive keratectomy (PRK), phakic intraocular lenses (IOL), astigmatic keratotomy (AK), automated lamellar keratoplasty (ALK), intracorneal ring (INTACS), laser thermal keratoplasty (LTK), conductive keratoplasty (CK), radial keratotomy (RK), and others.
- On the basis of application, the refractive surgery devices market is segmented into nearsightedness (myopia), farsightedness (hyperopia), astigmatism, and presbyopia.
- On the basis of end user, the refractive surgery devices market is segmented into hospitals, specialty clinics, ambulatory surgical centers, and others.
- On the basis of distribution channel, the refractive surgery devices market is segmented into direct tender, third party distributors, and others.
Regional Insights: Germany dominates the Europe Refractive Surgery Devices Market
Germany's dominance in the market can be attributed to the increasing adoption of minimally invasive surgeries within the region. As medical technology advances, there's a growing preference for procedures that involve smaller incisions and result in quicker recovery times. Germany's well-developed healthcare infrastructure, skilled medical professionals, and emphasis on cutting-edge medical techniques position it as a hub for minimally invasive surgeries, driving its prominence in the market.
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Recent Developments in Europe Refractive Surgery Devices Market
- In July 2021, Johnson and Johnson Vision introduced the VERITAS Vision System, a cutting-edge phacoemulsification (phaco) system. Designed to enhance surgeon efficiency, patient safety, and comfort, this system represents a significant addition to the company's product portfolio. This innovative offering underscores Johnson and Johnson Vision's commitment to advancing ophthalmic technologies and meeting the evolving needs of both surgeons and patients.
The Prominent Key Players Operating in the Europe Refractive Surgery Devices Market Include:
- Tracey Technologies (U.S.)
- Bausch + Lomb Incorporated (U.S.)
- BD (U.S.)
- STAAR SURGICAL (U.S.)
- SCHWIND eye-tech-solutions (Germany)
- Hoya Surgical Optics (Japan)
- Johnson and Johnson Services, Inc. (U.S.)
- Ophtec BV (Netherlands)
- Glaukos Corporation (U.S.)
- Amplitude Laser (France)
- Reichert, Inc. (U.S.)
- NIDEK CO., LTD. (Japan)
- Ziemer Ophthalmic Systems (Switzerland)
- ROWIAK GmbH (Germany)
- Moria (France)
- LENSAR, Inc. (U.S.)
- Topcon Canada Inc. (A subsidiary of Topcon Corporation) (Canada)
- Aaren Scientific Inc. (U.S.)
- Rayner Intraocular Lenses Limited. (UK)
- iVIS Technologies (Italy)
- Alcon (Switzerland)
Above are the key players covered in the report, to know about more and exhaustive list of Europe refractive surgery devices market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Europe Refractive Surgery Devices Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
