The global Refractive Surgery Devices Market size was USD 209.95 Million in 2022 and is expected to register a revenue CAGR of 8% over the forecast period, according to the latest report by Reports and Data.

The global demand for refractive surgical equipment is projected to increase due to the growing prevalence of refractive errors, which are currently untreated in around 1 billion people globally, according to the World Health Organization. The rising use of electronic devices and digital equipment has contributed to an increase in myopia and other refractive errors, leading to more people opting for refractive surgery to correct their vision. Consequently, there is an expanding use of advanced technologies, such as wavefront-guided LASIK and femtosecond Laser-Assisted Cataract Surgery (FLACS), which offer improved precision and accuracy during surgical procedures, leading to better patient outcomes.

Furthermore, the increasing global population of seniors is contributing to the demand for refractive surgical equipment. With age-related eye issues like cataracts and presbyopia becoming more prevalent, older individuals require surgery to improve their vision, which is expected to drive market revenue growth. The sales of refractive surgical equipment are projected to rise in China and India, primarily due to the development of healthcare facilities and greater consumer awareness. As myopia becomes more common among young people in these regions, there is a rising demand for such equipment. The market revenue growth is also expected to be driven by the increasing acceptance of advanced medical technologies and the large number of patients in these regions.

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Some Key Highlights from the Report

• In 2021, the excimer laser systems segment had the highest revenue share in the global market for refractive surgical devices, mainly due to the growing popularity of LASIK surgery. LASIK surgery uses an excimer laser to reshape the cornea, which leads to improved visual acuity. According to the American Society of Cataract and Refractive Surgery (ASCRS), around 700,000 LASIK procedures are performed annually in the United States alone. The excimer laser technology has evolved significantly, with wavefront-guided LASIK being one of the notable advancements that have resulted in better surgical outcomes and increased patient satisfaction. This has further fueled the growth of the market in this area.
• Due to the increasing prevalence of myopia, it is expected that the myopia segment will hold the largest market share in the global market for refractive surgical devices in the foreseeable future. Myopia is a condition that results in distant objects appearing blurry due to an excessively steep cornea or an elongated eye. This common ailment affects millions of individuals worldwide.
• The North American market is expected to lead in terms of revenue in the refractive surgical devices market in the coming years. This can be attributed to the growing prevalence of refractive defects such as myopia, hyperopia, and astigmatism in the population. Additionally, the market is projected to witness revenue growth due to an increase in healthcare spending and favorable government initiatives aimed at expanding healthcare access.
• Some of the prominent players profiled in the global refractive surgery Devices market include Alcon, Carl Zeiss Meditec AG, Abbott Laboratories, Bausch + Lomb, NIDEK CO., LTD., Johnson Johnson Vision, SCHWIND eye-tech-solutions GmbH Co. KG, WaveLight GmbH, Oculentis, Topcon Corporation, and STAAR Surgical.

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For the purpose of this report, Reports and Data has segmented the global refractive surgery devices market on the basis of Device Type Outlook, Application Outlook, End-Use Outlook, and Regional Outlook:

Device Type Outlook (Revenue, USD Million; 2022 - 2032)

• Excimer Laser Systems
• Femtosecond Laser Systems
• Microkeratomes
• Others

Application Outlook (Revenue, USD Million; 2022 - 2032)

• Myopia
• Hyperopia
• Astigmatism
• Others

End-Use Outlook (Revenue, USD Million; 2022 - 2032)

• Hospitals
• Ophthalmology Clinics
• Others

Regional Outlook (Revenue, USD Million; 2022-2032)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Sweden
• BENELUX
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East Africa
• Saudi Arabia
• UAE
• South Africa
• Israel
• Rest of MEA

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