What is Global Refractive Surgery Devices Market?
The Global Refractive Surgery Devices Market is a vast and dynamic sector that focuses on the production and distribution of devices used in refractive surgery. Refractive surgery is a type of eye surgery that is used to improve the refractive state of the eye and decrease or eliminate dependency on glasses or contact lenses. This can include various methods of surgical remodeling of the cornea or cataract surgery. The devices used in these procedures are diverse and technologically advanced, ranging from lasers to microkeratomes. The market for these devices is global, with demand driven by factors such as the increasing prevalence of refractive errors, advancements in technology, and the growing acceptance of refractive surgery among the general population. However, the market is also influenced by challenges such as the high cost of surgery and potential post-operative complications. Despite these challenges, the market continues to grow, driven by the ongoing need for effective, reliable solutions to refractive errors.
Excimer Laser Systems, Femtosecond Laser System, Others in the Global Refractive Surgery Devices Market:
The Global Refractive Surgery Devices Market is segmented into different types of devices, including Excimer Laser Systems, Femtosecond Laser System, and others. Excimer Laser Systems are used in procedures such as LASIK, where the cornea is reshaped to correct refractive errors. These systems use a cool ultraviolet light beam to precisely remove very tiny bits of tissue from the cornea to reshape it. On the other hand, Femtosecond Laser Systems are used in procedures such as cataract surgery, where they help to create a precise, circular incision for access to the lens. Other devices in the market include microkeratomes and phakic IOLs. Each of these devices plays a crucial role in refractive surgery, and their demand is influenced by factors such as the type of procedure, the patient's specific needs, and the surgeon's preference.
Hospitals, Ambulatory Surgical Centers, Ophthalmology Clinics in the Global Refractive Surgery Devices Market:
The Global Refractive Surgery Devices Market finds its applications in various healthcare settings, including Hospitals, Ambulatory Surgical Centers, and Ophthalmology Clinics. Hospitals are the primary users of these devices, given the large volume of refractive surgeries performed in these settings. Ambulatory Surgical Centers also represent a significant portion of the market, as these centers are increasingly being used for outpatient procedures, including refractive surgery. Ophthalmology Clinics, on the other hand, are specialized centers that focus on eye care, and they also use these devices for various procedures. The usage of these devices in each of these settings is influenced by factors such as the volume of procedures, the availability of skilled personnel, and the infrastructure available for performing these procedures.
Global Refractive Surgery Devices Market Outlook:
The Global Refractive Surgery Devices Market is a thriving sector with a promising future. As of 2022, the market was valued at US$ 15 million and is projected to reach US$ 23 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period of 2023-2029. Europe is the leading producer of Refractive Surgery Devices, holding a market share of approximately 65%. North America follows closely behind with a 25% market share. The top five manufacturers in the industry are Alcon (Novartis), J &J, Zeiss, Bausch and Lomb (Valeant), and Ziemer Ophthalmic. These companies collectively hold an impressive 80% market share, demonstrating their dominance in the industry.
| Report Metric | Details |
| Report Name | Refractive Surgery Devices Market |
| Accounted market size in 2022 | US$ 15 in million |
| Forecasted market size in 2029 | US$ 23 million |
| CAGR | 6.1% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Alcon (Novartis), J &J, Zeiss, Bausch and Lomb (Valeant), Ziemer Ophthalmic, Avedro, Nidek, Lensar, SCHWIND, iVIS Technologies |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
