How Is The Refractive Surgery Devices And Equipment Market Segmented?
The refractive surgery devices and equipment market covered in this report is segmented –
1) By Product Type: Microkeratome, Excimer Lasers, Femtosecond Lasers, YAG Lasers
2) By Application: Astigmatism, Near-sightedness, Farsightedness
3) By End User: Hospitals, Ambulatory Surgical Centres, Opthalmology Clinics
Subsegments:
1) By Microkeratome: Disposable Blades, Automated Microkeratome Systems
2) By Excimer Lasers: LASIK Excimer Lasers, PRK Excimer Lasers
3) By Femtosecond Lasers: Femtosecond LASIK Lasers, Femtosecond Cataract Lasers
4) By YAG Lasers: Posterior Capsulotomy YAG Lasers, Peripheral Iridotomy YAG Lasers
What Is Driving The Refractive Surgery Devices And Equipment Market? Growing Geriatric Population With Eye Disorders Fuels Demand For Refractive Surgery Devices
A significant driving factor for the growth of the Refractive surgery devices and equipment market is an increase in the geriatric population worldwide with eye disorders. Age-related macular degeneration is the major cause of loss of vision over the age of 65 years. There are many elderly people with refractive errors who require immediate surgical care to cure visual impairment. The rising elderly population throughout the year increases the demand for refractive surgeries. For example, the elderly population in the USA is steadily growing and by 2030, 70 million Americans will be over 65 years of age. Approximately one in three older people have optic disorders which are boosting the refractive surgery devices and equipment market.
What Is Driving The Refractive Surgery Devices And Equipment Market? Robust Healthcare Infrastructure Fuels Expansion Of The Refractive Surgery Devices And Equipment Market
The increase in healthcare infrastructure is expected to propel the growth of the refractive surgery devices and equipment market going forward. Healthcare infrastructure refers to the physical and organizational assets, facilities, and systems that collectively support the delivery of healthcare services within a specific region, community, or healthcare system. Healthcare infrastructure plays a crucial role in supporting the growth of the refractive surgery devices and equipment market by providing the necessary resources, facilities, and expertise required for refractive surgeries and related eye care services. For instance, in December 2023, according to the Centers for Medicare & Medicaid Services, a US-based federal agency, state and local government health care expenditures grew by 6.5% in 2022, building on a 6.2% increase in 2021. Additionally, U.S. health care spending rose by 4.1% to $4.5 trillion in 2022, outpacing the 3.2% increase recorded in 2021. Therefore, the increase in healthcare infrastructure is driving the growth of the refractive surgery devices and equipment market.
Who Are The Major Players In The Global Refractive Surgery Devices And Equipment Market?
Major companies operating in the refractive surgery devices and equipment market include Alcon, Johnson & Johnson, Carl Zeiss AG, Valeant Pharmaceuticals, Ziemer Ophthalmic Systems AG, Nidek Co. Ltd., STAAR Surgical Company, Avedro Inc., Lensar Inc., iVIS Technologies, SCHWIND eye-tech-solutions GmbH & Co. KG, Lumenis Ltd., Ellex Medical Lasers Limited., Visx, Refractec LLC, Topcon Corporation, HOYA Corporation, Glaukos Corporation, IRIDEX Corporation, Aaren-Scientific Inc., Lenstec Inc., Oculentis B.V., Ophtec B.V., Rayner Intraocular Lenses Limited, The HumanOptics AG, PhysIOL, Essilor International, NIDEK Co.Ltd., Quantel Medical SAS, Tracey Technologies, Abbott Medical Optics Inc., Oertli Instrumente AG, Topcon Corporation, Ophtec USA Inc., VisionCare Ophthalmic Technologies Inc., Visioneering Technologies Inc., Z-LASER Optoelektronik GmbH
What Are The Key Trends Of The Global Refractive Surgery Devices And Equipment Market? Technological Advancements Drive Innovation In Refractive Surgery Devices
The focus areas for many companies in the refractive surgery devices and equipment market has shifted towards increasing technological advancements in the field of refractive surgery. Advanced technologies used for correcting refractive errors expand the scale of the treatment, reduce the time and labour costs. The new corneal refractive surgical techniques such as femtosecond corneal surgery technique, pseudophakia intraocular lenses, intraocular rings and segments, and corneal stiffening techniques such as collagen crosslinking may impact the market significantly. For instance, the intrastromal femtosecond laser-assisted lenticular corneal excision (Flex-Smile) technique is very effective for myopic cases of up to 10 dioptres with astigmatism up to 3. Also, the advanced femtosecond laser surgical instruments have many unique features such as complete surgical control down to the micron in terms of diameter, depth and edge angle, fast flap creation.
What Are The Key Trends Of The Global Refractive Surgery Devices And Equipment Market? Innovative Technological Advancements In The Refractive Surgery Devices And Equipment Market
Major companies operating in the refractive surgery devices and equipment market are innovating new technological products such as femtosecond laser system, to increase their profitability in the market. A femtosecond laser system is a type of laser that emits optical pulses with a duration well below 1 picosecond, in the range of femtoseconds. For instance, in August 2023, Johnson & Johnson Vision, a US-based ophthalmology company launched ELITA platform. The platform incorporates the SILK method, a cutting-edge corneal refractive technique that enables doctors to cure myopia in patients who also have astigmatism. Patients having LASIK surgery or other refractive treatments are advised to utilize the ELITA System to create a corneal flap.
Regional Outlook For The Global Refractive Surgery Devices And Equipment Market
North America was the largest region in the global refractive surgery devices (or) equipment market in 2024. Asia-Pacific was the second-largest region in the refractive surgery devices (or) equipment market. The regions covered in the refractive surgery devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the refractive surgery devices and equipment market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
What Defines the Refractive Surgery Devices And Equipment Market?
The refractive surgery devices and equipment market consist of sales of microkeratome, excimer lasers, femtosecond lasers, YAG lasers, and aberrometers that are used for refractive surgeries. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
How is Market Value Defined and Measured?
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
What is the Market Assessment and Strategic Outlook for the Refractive Surgery Devices And Equipment Industry?
The refractive surgery devices (or) equipment market research report is one of a series of new reports from The Business Research Company that provides refractive surgery devices (or) equipment market statistics, including refractive surgery devices (or) equipment industry global market size, regional shares, competitors with a refractive surgery devices (or) equipment market share, detailed refractive surgery devices (or) equipment market segments, market trends and opportunities, and any further data you may need to thrive in the refractive surgery devices (or) equipment industry. This refractive surgery devices (or) equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
