Refractive Surgery Devices Market – Global Industry Analysis and Forecast (2023-2029)

Refractive Surgery Devices Market was valued at US $ 210.30 Bn. in 2022. The global market is expected to grow at a CAGR of 9.6% during the forecast period. The market is expected to reach a value of US $ 399.51 Bn by 2029.

Refractive Surgery Devices Market Overview:

Bigotry and astigmatism, as well as hyperopia and astigmatism, are established. Glasses or touching base lenses are recycled to precise for blemishes in the eye. Refractive surgery is a term used to label surgical procedures designed at accumulative the eye's congregating competence. Refractive blunders like astigmatism, presbyopia, shortsightedness, and sagacity can be amended or enriched by refractive surgery.Refractive Surgery Devices MarketTo know about the Research Methodology:- Request Free Sample Report By reshaping the clear, spherical dome at the front of the eye, or the cornea, numerous surgical techniques occur for fluctuating or modifying the eye's centring capability. Numerous corporations in the refractive surgery devices productiveness have removed their emphasis to emerging improved refractive surgery devices and are leading various research ingenuities in this area.

Market Dynamics:

Demand for technological advancement is rapidly increasing: The comprehensive market for refractive surgical equipment has seen significant technological enhancements. Astigmatism, dry eyes, myopia, hyperopia, and other conditions are treated by refractive surgery. With the introduction of wavefront-guided (WFG) surgery and surface ablation expertise, the market for refractive surgery equipment is witnessing growth. Refractive surgery has developed harmless, more defined, anticipated, and steady as a result of major progressions that have enriched not just the visualisation but also the excellence of life of millions of patients who have aided from it. With the route of the period, there is a rising demand for leading-edge equipment. Progressive technology is also essential in the healthcare sector to develop the treatment and surgery consequences. Doctors exploit refractive surgery to overhaul refractive flaws in the discriminations. The cost of surgery equipment has increased which is a major restraining factor for the market: In the United States, the major constructors of refractive surgery equipment charge glowing over $100,000 for an Excimer laser. The usual price assortment is $150,000 to virtually $300,000 at the truncated end and $150,000 to nearly $300,000 at the high end. This high cost of surgery equipment is hampering the growth of the refractive surgery equipment market. LASIK Surgical procedure with a High Accomplishment Proportion to Enhance the Market: An appropriately educated eye surgeon uses a microkeratome to create a precise, squeaky hinged corneal lappet throughout the LASIK surgery. Subsequently dragging back the flap to divulge the essential corneal fleshy tissue, the excimer laser ablates the cornea in a distinctive pre-specified configuration for each patient. It is been accomplished to delight astigmatism. Myopia, and hyperopia in which the LASIK surgery eradicates the contact lens by consenting the light to sprightly emphasis on the retina. Doctor’s incapability to practice modern technologies due to a privation of training gives a major challenge for the market: Medical specialists' privation of e-readiness and unavailability of proficient human resources is increasing day by day, which proportionally affects the refractive surgery device market. However, the inadequacy of ophthalmologists diminishes the number of examinations, particularly in underdeveloped countries like Tuvalu, Palestine, Laos, and South Korea.

Refractive Surgery Devices Market Segment Analysis:

Based on the Product, the market is segmented into Microkeratome, Ophthalmic Lasers, Excimer Laser, Femtosecond Laser, and YAG Lasers. The Microkeratome segment is expected to hold 23.6% of the overall market share in terms of revenue by 2029. A microkeratome is a fastidious surgical device with an equivocating edge used in LASIK or ALK surgery to craft the corneal lappet. The breadth of an archetypal human cornea is from 500 to 600 micrometres, while the microkeratome in the LASIK operation procedures is an 83 to 200-micrometre thick lappet. With the help of two sovereign motors such as accelerative movement and swaying of the blade, the microkeratome is formed and allows precise and smooth cuts. However, the Excimer Laser segment is expected to grow at a CAGR of 4.2% during the forecast period. Although a procedure recognised as photo ablative cessation, the excimer laser alliterate the refractive state of the eye by eliminating tissue from the fore cornea. The excimer laser's ultraviolet radiation is castoff to abolish chemical bonds in the cornea deprived of imposing any thermal injury to the surrounding tissue in this techniqueRefractive Surgery Devices MarketBased on Applications, the Refractive Surgery Devices Market is segmented into Astigmatism, Near-sightedness, Farsightedness and Others. The Astigmatism segment is expected to hold 35.4% of the overall market share in terms of revenue by 2029. Refractive surgical methods that prudently modernize fragments of a rutted cornea to make it smooth and proportioned can treat astigmatism. As a result, instead of being partisan by light sprinkling through an unevenly shaped cornea, images distillate clearly on the retina. LASIK is used to correct the first line of defence and surgical speaking in astigmatism. In addition, PRK gives the best advantages for cornea, thus it is chosen as the best choice among patients with thin corneas, large pupils and irregular astigmatism. However, the Farsightedness segment is expected to grow at a CAGR of xx% during the forecast period. Although most refractive surgeries are accomplished to discourse near-sightedness, they can also be used to precise slight to adequate farsightedness. The curvature of your cornea is redesigned in these surgical performances to discourse farsightedness.

Regional Insights:

The North American region held the largest market share, accounting for 31.06%, in 2022. The North American regional market is increasing owing to a rising population and a prickle in technical development. People are making full use of erudite expertise and earning more time on digital procedures, which is progressively harmless to their eyesight and initiating eye syndromes. In Addition, there is an upsurge in the aged population, which is accountable for a cumulative response for surgical equipment, as a result, the Refractive surgery device market is witnessing growth throughout the forecast period. According to WHO figures, the amount of entities aged 65 and up in the U.S country is expected to reach 78 million by 2035, subsequently increasing in product demand. However, the Asia Pacific region is expected to grow at a CAGR of xx% during the forecast period. The need for refractive surgery equipment is cumulative, which gives the result of changing environmental surroundings and existences, such as an older population, augmented computer and phone habits, and air pollution. Several western groups are capitalising on the increasing demand for ophthalmic equipment in the countries like China and India which is driving the growth of the market. The objective of the report is to present a comprehensive analysis of the global market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the market dynamics, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by Technology, price, financial position, product portfolio, growth strategies, and regional presence in the global market makes the report investor's guide.

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Refractive Surgery Devices Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 210.30 Bn.
Forecast Period 2023 to 2029 CAGR: 9.6% Market Size in 2029: US $ 399.51 Bn.
Segments Covered: by Application Astigmatism Near-sightedness Farsightedness Others
by Product Microkeratome Ophthalmic Lasers Excimer Laser Femtosecond Laser YAG Lasers

Refractive Surgery Devices Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Refractive Surgery Devices Market, Key Players

1. Visx 2. Topcon corporation 3. Essilor 4. Refractec 5. HOYA Corporation 6. Aaren-Scientific Inc 7. OPHTEC BV 8. The HumanOptics AG 9. STAAR 10.Avedro 11.Nidek 12.Lensar 13.iVIS Technologies 14.Carl Zeiss AG 15.Refractec 16.Lumenis Ltd

Frequently Asked Questions:

1] What segments are covered in the Refractive Surgery Devices Market report? Ans. The segments covered in the Refractive Surgery Devices Market report are based on Product and Application. 2] Which region is expected to hold the highest share in the Refractive Surgery Devices Market? Ans. The North American region is expected to hold the highest share in the Refractive Surgery Devices Market. 3] What is the market size of the Refractive Surgery Devices Market by 2029? Ans. The market size of the Refractive Surgery Devices Market is expected to be US $ 399.51 Bn. by 2029. 4] What is the forecast period for the Refractive Surgery Devices Market? Ans. The forecast period for the Refractive Surgery Devices Market is 2023-2029. 5] What was the market size of the Refractive Surgery Devices Market in 2022? Ans. The market size of the Refractive Surgery Devices Market in 2022 was US $ 210.30 Bn.
1. Refractive Surgery Devices Market Size: Research Methodology 2. Refractive Surgery Devices Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Refractive Surgery Devices Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Refractive Surgery Devices Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Refractive Surgery Devices Market Size Segmentation 4.1. Refractive Surgery Devices Market Size, Application (2022-2029) • Astigmatism • Near-sightedness • Farsightedness • Others 4.2. Refractive Surgery Devices Market Size, by Product (2022-2029) • Microkeratome • Ophthalmic Lasers • Excimer Laser • Femtosecond Laser • YAG Lasers 5. North America Refractive Surgery Devices Market (2022-2029) 5.1. Refractive Surgery Devices Market Size, by Application (2022-2029) • Astigmatism • Near-sightedness • Farsightedness • Others 5.2. Refractive Surgery Devices Market Size, by Product (2022-2029) • Microkeratome • Ophthalmic Lasers • Excimer Laser • Femtosecond Laser • YAG Lasers 5.3. North America Refractive Surgery Devices Market, by Country (2022-2029) • United States • Canada • Mexico 6. European Refractive Surgery Devices Market (2022-2029) 6.1. European Refractive Surgery Devices Market, by Application (2022-2029) 6.2. European Refractive Surgery Devices Market, by Product (2022-2029) 6.3. European Refractive Surgery Devices Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Refractive Surgery Devices Market (2022-2029) 7.1. Asia Pacific Refractive Surgery Devices Market, by Application (2022-2029) 7.2. Asia Pacific Refractive Surgery Devices Market, by Product (2022-2029) 7.3. Asia Pacific Refractive Surgery Devices Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Refractive Surgery Devices Market (2022-2029) 8.1. The Middle East and Africa Refractive Surgery Devices Market, by Application (2022-2029) 8.2. The Middle East and Africa Refractive Surgery Devices Market, by Product (2022-2029) 8.3. The Middle East and Africa Refractive Surgery Devices Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Refractive Surgery Devices Market (2022-2029) 9.1. Latin America Refractive Surgery Devices Market, by Application (2022-2029) 9.2. Latin America Refractive Surgery Devices Market, by Product (2022-2029) 9.3. Latin America Refractive Surgery Devices Market, by Country (2022-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Visx 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Topcon corporation 10.3. Essilor 10.4. Refractec 10.5. HOYA Corporation 10.6. Aaren-Scientific Inc 10.7. OPHTEC BV 10.8. The HumanOptics AG 10.9. STAAR 10.10. Avedro 10.11. Nidek 10.12. Lensar 10.13. iVIS Technologies 10.14. Carl Zeiss AG 10.15. Refractec 10.16. Lumenis Ltd
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