Refractive Surgery Device Market Introduction and Overview
According to SPER Market Research, the Global Refractive Surgery Device Market is estimated to reach USD 325.14 million by 2033 with a CAGR of 4.11%.
The report includes an in-depth analysis of the Global Refractive Surgery Device Market, including market size and trends, product mix, applications, and supplier analysis. Refractive defects including astigmatism, presbyopia, hyperopia, and nearsightedness can all be improved or corrected with the use of devices used in refractive surgery. These gadgets consist of femtosecond, microkeratome, excimer, and YAG lasers. Refractive procedures significantly lessen the need for contact lenses or spectacles. The market offers a variety of refractive devices for treating vision impairments The Refractive Surgery Devices Market is the name of the medical industry segment that is dedicated to the development, production, and distribution of state-of-the-art surgical instruments and equipment used in refractive surgery procedures.
- July 2021: The next-generation phacoemulsification (phaco) system, the VERITAS Vision System, was introduced by Johnson & Johnson Vision in July 2021. Three key aspects are addressed by this system: comfort, patient safety, and surgeon efficiency. As a result, the company's product line has grown.
- April 2022: Announcing in February 2022 that CARVYKTI has been authorized by the US Food and Drug Administration (FDA) for the treatment of people with relapsed or refractory multiple myeloma was The Janssen Pharmaceutical Companies of Johnson & Johnson. This clearance shows J&J's continued dedication to provide more treatment options.
Market Opportunities and Challenges
There have been notable technical advancements in the refractive surgery equipment industry. Astigmatism, dry eyes, myopia, hyperopia, and other conditions are treated with refractive surgery. Since wavefront-guided (WFG) surgery and surface ablation skills have become more common, the market for refractive surgical equipment has grown accordingly. Significant breakthroughs in the field of refractive surgery have improved the lives of millions of patients who have benefitted from it and have also helped the technique become well-defined, safe, dependable, and predictable. Modern equipment is becoming more and more in demand as time goes on. In the medical field, cutting edge technology is also essential to the creation of surgical results and treatment regimens. Refractive defects that are discriminating are corrected by doctors through refractive surgery.
The lack of qualified human resources and the lack of e-readiness among medical experts are growing issues that have a direct impact on the market for refractive surgical devices. But the lack of adequate ophthalmologists reduces the frequency of exams, especially in developing nations. In the medical field, using sophisticated refractive surgical equipment requires a qualified eye expert. Any ordinary doctor using these gadgets would find it difficult due to their highly technological nature; hence, they require specialized training. But the lack of ophthalmologists reduces the frequency of examinations, particularly in emerging nations, which hurts the market's demand for equipment used in refractive surgery.
Market Competitive Landscape
The market players driving the refractive surgery devices market are those who are heavily spending in R&D and product development to grow their product portfolios. The competitive landscape has been sustained by government investment, technical advancements, regulatory clearances, mergers and acquisitions, and a diverse range of products. The introduction of new products and the extension of current operations into the unexplored worldwide market are anticipated to benefit the top corporations. Some of the key players areAlcon, Abott Medical Optics, Bausch & Lomb Incorporated, Carl Zeiss AG, Ellex Medical Laser Limited, Johnson & Johnson Surgical Vision, Lumenis, Nidek, SCHWIND eye-tech-solutions, Ziemer Ophthalmic System AG
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type of Surgery, By Device Type, By End-User
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Alcon, Abott Medical Optics, Bausch & Lomb Incorporated, Carl Zeiss AG, Ellex Medical Laser Limited, Johnson & Johnson Surgical Vision, Lumenis, Nidek, SCHWIND eye-tech-solutions, Ziemer Ophthalmic System AG |
COVID-19 Impact on Global Refractive Surgery Device Market
The COVID-19 pandemic has had a detrimental effect on a number of industries, which has decreased company output. Customers began spending more time on digital gadgets during this epidemic, which is why it has a significant negative impact on the eyes. As businesses began to conduct their operations online, a new trend of working from home also evolved, contributing to an increase in the number of cases of myopia, dry eyes, and eyestrain. Additionally, the need for refractive surgical equipment has been fuelled by the growing senior population. The COVID-19 epidemic prompted the implementation of stringent control measures, such as social separation, remote labor, and obstruction of economic activity. On the other hand, it is projected that the market for equipment used in refractive surgery will grow in the future years.
Key Target Audience:
- Ophthalmologist and Optometrists
- Hospitals and Clinics
- Ambulatory Surgical Centres
- Patients
- Regulatory Authorities
- Research Institution and Academia
- Distributors and Suppliers
- Insurance Companies
Our in-depth analysis of the Refractive Surgery Device Market includes the following segments:
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By Type of Surgery: |
LASIK
Photorefractive
Keratectomy
Conductive Keratoplasty
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By Device Type: |
Lasers
Flaps
Aberrometers
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By End User: |
Hospitals
Ophthalmic Clinics
Ambulatory Surgery Centres
Others
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Key Topics Covered in the Report:
- Global Refractive Surgery Device Market Size (FY’2024-FY’2033)
- Overview of Global Refractive Surgery Device Market
- Segmentation of Global Refractive Surgery Device Market By Type of Surgery(LASIK, Photorefractive, Keratectomy, Conductive Keratoplasty)
- Segmentation of Global Refractive Surgery Device Market By Device Type(Lasers, Flaps, Aberrometers)
- Segmentation of Global Refractive Surgery Device Market By End User (Hospitals, Ophthalmic Clinics, Ambulatory Surgery Centres, Others)
- Statistical Snap of Global Refractive Surgery Device Market
- Expansion Analysis of Global Refractive Surgery Device Market
- Problems and Obstacles in Global Refractive Surgery Device Market
- Competitive Landscape in the Global Refractive Surgery Device Market
- Impact of COVID-19 and Demonetization on Global Refractive Surgery Device Market
- Details on Current Investment in Global Refractive Surgery Device Market
- Competitive Analysis of Global Refractive Surgery Device Market
- Prominent Players in the Global Refractive Surgery Device Market
- SWOT Analysis of Global Refractive Surgery Device Market
- Global Refractive Surgery Device Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Refractive Surgery Device Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Refractive Surgery Device Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Refractive Surgery Device Market
7. Global Refractive Surgery Device Market, By Type of Surgery (USD Million)
7.1. Global Refractive Surgery Device Market Value Share and Forecast, By Type of Surgery, 2024-2033
7.2. LASIK
7.3. Photorefractive
7.4. Keratectomy
7.5. Conductive Keratoplasty
8. Global Refractive Surgery Device Market, By Device Type (USD Million)
8.1. Global Refractive Surgery Device Market Value Share and Forecast, By Device Type, 2024-2033
8.2. Lasers
8.3. Flaps
8.4. Aberrometers
9. Global Refractive Surgery Device Market, By End User (USD Million)
9.1. Global Refractive Surgery Device Market Value Share and Forecast, By End User , 2024-2033
9.2. Hospitals
9.3. Ophthalmic Clinics
9.4. Ambulatory Surgery Centres
9.5. Others
10. Global Refractive Surgery Device Market Forecast, 2020-2033 (USD Million)
10.1. Global Refractive Surgery Device Market Size and Market Share
11. Global Refractive Surgery Device Market, By Type of Surgery 2020-2033 (USD Million)
11.1. Global Refractive Surgery Device Market Size and Market Share By Type of Surgery(2020-2026)
11.2. Global Refractive Surgery Device Market Size and Market Share By Type of Surgery(2027-2033)
12. Global Refractive Surgery Device Market, By Device Type2020-2033 (USD Million)
12.1. Global Refractive Surgery Device Market Size and Market Share By Device Type(2020-2026)
12.2. Global Refractive Surgery Device Market Size and Market Share By Device Type(2027-2033)
13. Global Refractive Surgery Device Market, By End User, 2020-2033 (USD Million)
13.1. Global Refractive Surgery Device Market Size and Market Share By End User (2020-2026)
13.2. Global Refractive Surgery Device Market Size and Market Share By End User(2027-2033)
14. Global Refractive Surgery Device Market, By Region, 2020-2033 (USD Million)
14.1. Global Refractive Surgery Device Market Size and Market Share By Region (2020-2026)
14.2. Global Refractive Surgery Device Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. Alcon
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Abott Medical Optics
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Bausch & Lomb Incorporated
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Carl Zeiss AG
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Ellex Medical Laser Limited
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Johnson & Johnson Surgical Vision
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Lumenis,
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Nidek
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. SCHWIND eye-tech-solutions
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Ziemer Ophthalmic System AG
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
