Refractive Surgery Devices Market Global Scenario, Market Size, Outlook, Trend, and Forecast, 2020 – 2030

The Global Refractive Surgery Devices Market was valued at US$ 184.5 million in 2021 and is predictable to reach US$ 389.4 million by 2030; growing at a CAGR of 8.7 % during the forecast period from 2021- 2030.

Refractive eye surgery is performed to improve the refractive state of the eyes naturally hence decreasing the dependency on contact lenses & glasses. Optical deformities such as myopia, hyperopia, dry eyes, presbyopia, and astigmatism are rising gradually among the geriatric population. Cases of myopia are increasing globally, according to the World Health Organization, around 285 million people globally are suffering from some kind of vision deformity, 52 % of the world's population is expected to be affected by myopia by 2050, and nearly 2.2 billion people have a distance or near vision impairment globally.

Market Dynamics

Advancements in technology are marking a certain hike in the global surgery devices market. Also, major innovations make refractive surgery safe, predictable, precise, and stable and change the lives of millions of people by improving their vision. The high prevalence of presbyopia is vigorously driving the market. Presbyopia affects more than 1.1 billion people worldwide, with one-third of those over the age of 50 years. Growth in the geriatric population leads to increased optical deformities and an increase in muscular degeneration globally are the major reasons driving the global surgery devices market. However, the high costs of the surgery equipment are restricting the market growth. Also, the associated side effects of surgery are also the major factor hindering the global surgery devices market.

The global surgery devices market is segmented by surgery type, device type, application, end-user, and region. Surgery type is classified into LASIK, photorefractive keratectomy, and conductive keratoplasty. The device type segment is bifurcated into lasers, flaps, aberrometer, and others. Application is sub-segmented into myopia, hyperopia, astigmatism, dry eyes, and presbyopia. End-user is categorized into hospitals, clinics, eye clinics, and others. Based on regional insights, the global smart grids market is categorized into North America (US, Canada, Mexico, Rest of America), Asia Pacific (India, China, Rest of Asia Pacific), Europe (UK, Germany, Russia, Rest of Europe) and Rest of the world (Latin America and the Middle East & Africa).

North America accounted for the largest market share 30% owing to factors such as the high prevalence of refractive deformities, availability of advanced technologies, presence of active key players, and availability of reimbursements policies in the region and APAC is anticipated to grow with the highest CAGR.

Prominent players inducing the Global Refractive Surgery Devices Market are Johnson & Johnson Services, Inc., Carl Zeiss Meditec AG, Alcon, Bausch & Lomb Incorporated, Quantel Medical, TOPCON CORPORATION, Essilor, NIDEK CO. LTD., and SCHWIND eye-tech-solutions among others.

Segmentation and Scope of the Global Refractive Surgery Devices Market

The Global Refractive Surgery Devices Market is segmented by surgery type, device type, application, end-user, and region.

By Surgery Type

• LASIK
• Photorefractive Keratectomy
• Conductive Keratoplasty

By Device Type

• Lasers
• Flaps
• Aberrometer
• Others

By Application

• Myopia
• Hyperopia
• Astigmatism
• Dry eyes
• Presbyopia

By End-User

• Hospitals
• Clinics
• Eye Clinics
• Others

By Region

North America

• US
• Canada
• Mexico
• Rest of North America

Europe

• UK
• Germany
• Russia
• Spain
• Italy
• Rest of Europe

Asia Pacific

• India
• China
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Rest of World

Middle East & Africa

• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Latin America

• Argentina
• Brazil
• Rest of Latin America

Prominent players in the Global Refractive Surgery Devices Market among other includes:

• Johnson & Johnson Services Inc.
• Carl Zeiss Meditec AG
• Alcon
• Bausch & Lomb Incorporated
• Quantel Medical
• TOPCON CORPORATION
• Essilor
• NIDEK CO. LTD.
• SCHWIND eye-tech-solutions