The refractive surgery devices market is expected to reach USD 213.0 million by 2024, accelerating at a compound annual growth rate (CAGR) of 3.90%

Refractive surgery device

The refractive surgery device market is poised for significant growth, with forecasts indicating a compound annual growth rate (CAGR) of 3.90% During the forecast period from 2024 to 2034, the market valuation is expected to reach 213.0 million USD by 2024 and offer an absolute chance to earn dollars $312.3 million by the end of 2034.

Refractive surgery devices play a key role in correcting visual disorders such as myopia, hyperopia, astigmatism, and presbyopia through surgical procedures. The market growth is driven by the rising prevalence of vision-related disorders, increasing demand for minimally invasive surgical options, and technological advancements in ophthalmic surgery.

Refractive surgery devices, which are essential for procedures that correct vision problems such as myopia, hyperopia and astigmatism, are becoming increasingly important in addressing these emerging health trends. The market expansion underscores the importance of technological advances and innovation in improving vision care and patient outcomes.

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The market growth underscores the importance of innovation in improving patient care and quality of life. With ongoing development and growing public awareness, the refractive surgery device market is expected to significantly impact healthcare worldwide.

Key conclusions:

• Market valuation: The refractive surgery devices market is estimated to reach USD 213.0 million by 2024.
• Speed ​​of growth: The market is expected to grow at a compound annual growth rate (CAGR) of 3.90% during 2024–2034.
• The opportunity has come: By the end of 2034, this market is expected to offer investment opportunities worth USD 312.3 million.
• Driving factors: The main factors driving this increase are the increasing number of older people and increased screen time due to COVID-19 restrictions, leading to an increased incidence of vision problems requiring correction.

Competitive environment:

Due to its long-standing existence, the refractive surgery equipment market is crowded with companies that have established themselves abroad. The equipment needed for refractive procedures is supplied by these companies to hospitals, ambulatory surgical centers, and emergency clinics.

Alcon Inc., Carl Zeiss Meditec AG, Johnson & Johnson Vision, Bausch + Lomb, NIDEK Co., Ltd. and Ziemer Ophthalmic Systems AG are some of the industry leaders. These companies spend billions of dollars developing innovative technologies to make surgeries more efficient, faster and better.

Last changes

• In June 2023, Eye-Q introduced Advanced Customised LASIK at its Rewari ophthalmology facility, revolutionising laser vision correction and eliminating the need for patients to travel to Gurugram. The hospital aimed to improve the quality of life of individuals, especially the youth in the 18-35 age group, by offering world-class eye treatments.
• In September 2023, Alcon presented its largest scientific program to date at the 41st ESCRS Congress in Vienna, Austria. The event featured more than 75 abstracts presenting new data and innovations to support ophthalmic surgical teams in the areas of cataract, refraction, visualization and eye health.

Key companies on the market:

• Alcon Inc.
• Carl Zeiss Meditec AG
• Johnson & Johnson Vision
• Bausch + Lomb
• NIDEK Co., Ltd.
• Ziemer Ophthalmic Systems AG
• STAAR Surgical Company
• Abbott Medical Optics
• Topcon Corporation
• International
• Lumenis Sp. z o. o.
• HOYA Corporation
• Haag-Streit AG
• Schwind eye-tech-solutions GmbH
• iVIS Technologies
• Oculentis GmbH
• NIDEK Technologies Srl
• Optovue, Inc.
• OCULUS Optikgeräte GmbH
• Rayner Intraocular Lenses Limited

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Refractive Surgery Devices Market Segmentation:

By product type:

• Lasers
• Microkeratome
• Aberrometers
• Other types of products

By application:

• Myopia
• Farsightedness
• Astigmatism
• Presbyopia
• Dry eyes

By end use:

• Hospitals
• Outpatient Surgery Centers
• Eye clinics

By region:

• North America
• Latin America
• Asia and Pacific
• Middle East and Africa (MEA)
• Europe

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