Refractive surgery devices are pivotal in correcting vision problems, including near-sightedness, farsightedness, and astigmatism. They utilize advanced laser technologies to reshape the cornea, improving how light is focused on the retina. These devices offer precise, customized treatments, reducing or eliminating the need for glasses or contact lenses. The key features of refractive surgery devices include automated eye-tracking for accuracy, customizable treatment plans, and minimal discomfort. They are used in procedures such as LASIK and PRK to provide patients with clearer, sharper vision and an enhanced quality of life, reducing reliance on corrective eyewear.
According to Data Bridge Market Research, the Global Refractive Surgery Devices Market is accounted at USD 1,420.96 million in 2021 and is expected to reach USD 2,611.13 million by 2029. The market is expected to grow with a CAGR of 8.2% in the forecast period of 2022 to 2029.
“Increasing technological advancements boost the market’s growth”
The refractive surgery devices market is experiencing substantial growth due to increasing technological advancements. Advanced laser technologies, such as Femtosecond lasers and wave front-guided systems, have greatly improved surgical precision and outcomes. Additionally, innovations such as SMILE (small incision lenticular extraction) have made refractive surgeries less invasive and more accessible. These technological developments not only enhance the safety and efficacy of refractive procedures but also expand the potential patient pool, driving the growth of the refractive surgery devices market.
What restraints the growth of the global refractive surgery devices market?
“Inadequate healthcare facilities restraints the market’s growth”
The growth of the refractive surgery devices market is hindered by inadequate healthcare facilities. Access to quality healthcare is vital for refractive surgery, which requires specialized equipment and skilled professionals. Poor healthcare infrastructure limits the availability of these procedures, preventing patients from accessing vision correction treatments. Additionally, a lack of trained ophthalmologists and modern surgical centers further constrains market growth.
Segmentation: Global Refractive Surgery Devices Market
The global refractive surgery devices market is segmented on the basis of 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 centres, 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: North America is expected to dominate the Global Refractive Surgery Devices Market
North America is expected to dominate the market due to increasing demand for refractive surgeries. As more people seek vision correction procedures such as LASIK and PRK to reduce dependency on eyeglasses and contact lenses, the demand for advanced refractive surgery devices and technologies is on the rise, driving the market growth.
Recent Development
- In July 2021, Johnson and Johnson Vision unveiled the VERITAS Vision System, an advanced phacoemulsification (phaco) system focused on enhancing three key aspects: surgeon efficiency, patient well-being, and comfort. This addition to the company's product lineup has expanded its portfolio significantly.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-refractive-surgery-devices-market
The Prominent Key Players Operating in the Global 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 (U.K.)
- iVIS Technologies (U.S.)
- Alcon (Switzerland)
Above are the key players covered in the report, to know about more and exhaustive list of global refractive surgery devices market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global 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.
