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Global Refractive surgery devices Market to reach USD 353.17  million by the end of 2029.

Global Refractive surgery devices Market Size study & Forecast, by Application (Myopia, Hyperopia, Astigmatism, Presbyopia, Dry Eyes) by Product (Lasers, Microkeratome, Aberrometers, Others), by End-use (Hospitals, Ambulatory Surgery Centers, Ophthalmology Clinics) and Regional Analysis, 2022-2029

Product Code: HLSMDE-75083192
Publish Date: 1-04-2023
Page: 200

Global Refractive surgery devices Market is valued at approximately USD 195.1 million in 2021 and is anticipated to grow with a healthy growth rate of more than 7.7% over the forecast period 2022-2029. Refractive surgery devices are medical instruments used to correct refractive errors in the eye, such as nearsightedness, farsightedness, and astigmatism. Refractive surgery devices work by reshaping the cornea, the clear front part of the eye, to improve the way that light is focused on the retina, which can improve vision. There are several types of refractive surgery devices, including laser-based devices such as LASIK (Laser-Assisted In Situ Keratomileusis), PRK (Photorefractive Keratectomy), and SMILE (Small Incision Lenticule Extraction), as well as non-laser devices such as ICL (Implantable Collamer Lens) and RLE (Refractive Lens Exchange). These devices are used by ophthalmologists and refractive surgeons who have specialized training and expertise in performing refractive surgery procedures. Refractive surgery can be an effective way to correct vision problems and improve the quality of life for many people who are good candidates for the procedure. The key factor driving the market growth is the growing rate of refractive errors and other eye conditions, such as myopia, astigmatism, hyperopia, and others also growing technological advances in refractive surgery devices are anticipated to support the market growth during the forecast period.

However, the rising cases of myopia, also known as nearsightedness, is one of the factors that is driving the growth of the refractive surgery devices market. Myopia is a common condition that affects a large percentage of the global population, and it is projected to continue to increase in prevalence in the coming years. This increase in myopia cases is due in part to factors such as changing lifestyles and increased screen time. According to The International Myopia Institute, the prevalence of myopia in 2010 was 2 billion, the number reached 2.6 billion in 2020 and is anticipated to reach 4.8 billion by 2050. As a result, the rising cases of myopia are anticipated to support market growth. Additionally, rising healthcare expenditure and growing investment in healthcare sector is anticipated to create a lucrative opportunity for the market during the forecast period. However, the high cost of Refractive surgery devices stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Refractive surgery devices Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the presence of key market players, the high incidence of refractive errors, and the availability of effective reimbursement policies. Whereas, Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period, owing to factors such as rising geriatric and target populations, increasing myopia cases, and rising healthcare expenditures in the region would create lucrative growth prospects for the Refractive surgery devices market.

Major market player included in this report are:
Johnson & Johnson Services, Inc.
Carl Zeiss Meditec AG
Bausch & Lomb Incorporated
Quantel Medical
Essilor International
SCHWIND eye-tech-solutions Gmbh
Recent Developments in the Market:
 In Feb. 2019, Johnson & Johnson Vision announced the launch of TECNIS Eyhance intraocular lenses in the Europe market. The new intraocular lenses are next-generation lenses that can provide effectiveness in intermediate and far distances.

Global Refractive surgery devices Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Application, Product, End-use, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application:
Dry Eyes

By Product:

By End-use:
Ambulatory Surgery Centers
Ophthalmology Clinics

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Million)
1.2.1. Refractive surgery devices Market, by Region, 2019-2029 (USD Million)
1.2.2. Refractive surgery devices Market, by Application, 2019-2029 (USD Million)
1.2.3. Refractive surgery devices Market, by Product, 2019-2029 (USD Million)
1.2.4. Refractive surgery devices Market, by End-use, 2019-2029 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Refractive surgery devices Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Refractive surgery devices Market Dynamics
3.1. Refractive surgery devices Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Growing rate of refractive errors and other eye conditions growing technological advancement
3.1.2. Market Challenges High Cost of Refractive surgery devices
3.1.3. Market Opportunities Rising healthcare expenditure Growing Investment in healthcare sector
Chapter 4. Global Refractive surgery devices Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Refractive surgery devices Market, by Application
6.1. Market Snapshot
6.2. Global Refractive surgery devices Market by Application, Performance – Potential Analysis
6.3. Global Refractive surgery devices Market Estimates & Forecasts by Application 2019-2029 (USD Million)
6.4. Refractive surgery devices Market, Sub Segment Analysis
6.4.1. Myopia
6.4.2. Hyperopia
6.4.3. Astigmatism
6.4.4. Presbyopia
6.4.5. Dry Eyes
Chapter 7. Global Refractive surgery devices Market, by Product
7.1. Market Snapshot
7.2. Global Refractive surgery devices Market by Product, Performance – Potential Analysis
7.3. Global Refractive surgery devices Market Estimates & Forecasts by Product 2019-2029 (USD Million)
7.4. Refractive surgery devices Market, Sub Segment Analysis
7.4.1. Lasers
7.4.2. Microkeratome
7.4.3. Aberrometers
7.4.4. Others
Chapter 8. Global Refractive surgery devices Market, by End-use
8.1. Market Snapshot
8.2. Global Refractive surgery devices Market by End-use, Performance – Potential Analysis
8.3. Global Refractive surgery devices Market Estimates & Forecasts by End-use 2019-2029 (USD Million)
8.4. Refractive surgery devices Market, Sub Segment Analysis
8.4.1. Hospitals
8.4.2. Ambulatory Surgery Centers
8.4.3. Ophthalmology Clinics
Chapter 9. Global Refractive surgery devices Market, Regional Analysis
9.1. Refractive surgery devices Market, Regional Market Snapshot
9.2. North America Refractive surgery devices Market
9.2.1. U.S. Refractive surgery devices Market Application breakdown estimates & forecasts, 2019-2029 Product breakdown estimates & forecasts, 2019-2029 End-use breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Refractive surgery devices Market
9.3. Europe Refractive surgery devices Market Snapshot
9.3.1. U.K. Refractive surgery devices Market
9.3.2. Germany Refractive surgery devices Market
9.3.3. France Refractive surgery devices Market
9.3.4. Spain Refractive surgery devices Market
9.3.5. Italy Refractive surgery devices Market
9.3.6. Rest of Europe Refractive surgery devices Market
9.4. Asia-Pacific Refractive surgery devices Market Snapshot
9.4.1. China Refractive surgery devices Market
9.4.2. India Refractive surgery devices Market
9.4.3. Japan Refractive surgery devices Market
9.4.4. Australia Refractive surgery devices Market
9.4.5. South Korea Refractive surgery devices Market
9.4.6. Rest of Asia Pacific Refractive surgery devices Market
9.5. Latin America Refractive surgery devices Market Snapshot
9.5.1. Brazil Refractive surgery devices Market
9.5.2. Mexico Refractive surgery devices Market
9.5.3. Rest of Latin America Refractive surgery devices Market
9.6. Rest of The World Refractive surgery devices Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Johnson & Johnson Services, Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Carl Zeiss Meditec AG
10.2.3. Alcon
10.2.4. Bausch & Lomb Incorporated
10.2.5. Quantel Medical
10.2.7. Essilor Internation
10.2.8. NIDEK CO., LTD.
10.2.9. SCHWIND eye-tech-solutions Gmbh
10.2.10. LENSAR Inc.
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
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Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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