The global refractive surgery devices market was estimated to be US$ 165 million in 2021 and expected to grow at a CAGR of 6.5% during the forecast period, 2023-2032.
Refractive surgery devices have been dominant in the medical market. There will be a significant uphill from 2022 to 2032. Multiple Ophthalmologists claimed the hike in sight loss, reaching over 2.7 million by 2030. The refractive surgery device market is all around to hit a strong growth rate. Different refractive surgery devices are used in variable techniques. Nearsightedness, farsightedness, myopia, etc. are the most common disabilities found in the elder population globally. There are certain sections of refractive surgery which include: Astigmatic Keratotomy, LASIK, Radial keratotomy, Laser thermal keratoplasty, and many more. All these surgeries are carried out with certain procedures and equipment where refractive surgery devices are significantly used.
Market Trends
The global refractive surgery devices market trends show a clear preference for Asia-Pacific developing countries. Worldwide, refractive surgery device deals are driven by headway in mechanical gadgets- an increase in the use of refractive surgery devices, an expansion in preventive care strategies within clinical benefits, and the need to use refractive surgery devices.
Factors impacting the growth of the refractive surgery devices market
The idea of refractive surgery devices has clinical benefits and is environmentally friendly, which makes them non-toxic. The risk of transmission of bacteria and allergy-proof, itch-proof, fogless vision right after the surgery. This is the primary focus of the product launch.
As per the reports of WHO, 2.2 billion people have myopia or hyperopia globally. The growing incidence of cataracts among older people will uphill the requirement for refractive surgery devices.
Additionally, the research takes into account the competitive landscape, wherein the report would include a company overview and market outlook based on application, end-user, and geography for key players in the refractive surgery devices market. Moreover, the report would reflect the global sales funnel, regional sales analysis, and network, key advancements, business strategies, and research and development activities for all the major players operating in the market.
The European market has been the dominant one owing to the growing market for refractive surgery devices. Furthermore, multiple research and advancement activities are taking place on the stage, which is ideally responsible for the growing demand for the product. Additionally, advanced health care infrastructures are equally responsible for the growth and launch of refractive surgery devices in the markets of Europe.
The dominant companies in this funnel include Alcon, J and J Zeiss, Bausch, Lomb, Ziemer Ophthalmic, LENSAR, STAAR, and Avedro.
Segmentation of the market
By Application
By End Client
By Geographical
Refractive surgery devices have been dominant in the medical market. There will be a significant uphill from 2022 to 2032. Multiple Ophthalmologists claimed the hike in sight loss, reaching over 2.7 million by 2030.
Key factors that are driving the market growth include the rising population, increased screen time since the pandemic, and technological advancements in refractive surgery devices.
The European market has been the dominant one owing to the growing market for refractive surgery devices.
The refractive surgery devices market size exceeded USD 165 million in 2021.
The refractive surgery devices market to achieve CAGR of 6.5% between 2023 and 2032.
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