Refractive Surgery Devices Market to Reach USD 525.3 Million by 2034 Amid Growing Demand at 3.90% CAGR

Refractive surgery device market

The market for refractive surgery devices is expected to grow significantly and its valuation is expected to reach approx USD 213.0 million by 2024. It is projected to grow at a compound annual growth rate (CAGR) of 3.90% Between 2024 and 2034, the market is expected to provide an absolute opportunity for the dollar $312.3 million by the end of 2034, which will lead to the total market size $525.3 million.

This increase is due to two main factors: the growing number of older people and the increase in screen time due to Covid-19 restrictions. As the population ages, the incidence of vision problems increases, leading to a greater demand for advanced refractive surgery devices. Additionally, increased screen time has resulted in an increase in eye strain and related conditions, further increasing the need for effective vision correction solutions.

Refractive surgery devices, which are essential in treatments to correct vision problems such as myopia, hyperopia and astigmatism, are becoming increasingly important in dealing with emerging health trends. Market expansion highlights the importance of technological advancements and innovations in improving eye care and patient outcomes.

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Market development highlights the importance of innovation to improve patient care and quality of life. With continuous development and increasing public awareness, the refractive surgery device market is expected to have a significant impact on the state of healthcare worldwide.

Key takeaways:

• Market valuation: The refractive surgery device market is expected to reach USD 213.0 million by 2024.
• Speed ​​of growth: The market is expected to grow at a CAGR of 3.90% during 2024–2034.
• Future possibilities: By the end of 2034, the market is expected to offer an absolute dollar opportunity of $312.3 million.
• Driving factors: Key factors driving this growth include a growing elderly population 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 existence, the refractive surgery equipment market is crowded with companies that have established themselves abroad. These companies provide the devices needed for refractive procedures to hospitals, ambulatory surgical centers and emergency clinics.

Alcon Inc., Carl Zeiss Meditec AG, Johnson & Johnson Vision, Bausch + Lomb, NIDEK Co., Ltd. and Ziemer Ophtalmic Systems AG are some of the leading companies in the industry. These companies spend billions of dollars developing innovative technologies to streamline, speed up and improve the quality of operations.

Last changes

• In June 2023, Eye-Q introduced an advanced, customized LASIK machine to its eye care facility in Rewari, revolutionizing laser vision correction and eliminating the need for patients to travel to Gurugram. The hospital’s goal was to improve the quality of life of individuals, especially youth aged 18–35, by offering world-class ophthalmological treatments.
• In September 2023, Alcon presented its largest-ever scientific program at the 41st ESCRS Congress in Vienna, Austria. The event featured over 75 abstracts highlighting 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’s vision
• Bauscha + Lomba
• NIDEK limited liability company
• Ziemer Ophthalmic Systems AG
• STAAR Surgical Company
• Abbott medical optics
• Topcon company
• The international concern Essilor
• Lumenis limited liability company
• HOJA company
• Haag-Streit AG
• Schwind eye-tech-solutions GmbH
• iVIS technologies
• Oculentis GmbH
• NIDEK Technologies Srl
• Optovue limited liability company
• OCULUS Optikgeräte GmbH
• Limited edition Rayner intraocular lenses

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Refractive surgery devices market segmentation:

By product type:

• Lasers
• Microkeratome
• Aberrometers
• Other product types

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 the Pacific
• Middle East and Africa (MEA)
• Europe

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