Allied Market Research

2024

Refractive Surgery Devices Market

Refractive surgery devices market: Global Opportunity Analysis and Industry Forecast, 2024-2031 by Surgery (LASIK, Photorefractive Keratectomy, Conductive, Keratoplasty, Others), by Device Type (Lasers, Flaps, Aberrometers, Others) and by End User (Hospitals, Clinics, Eye clinics, others): Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Roshan Deshmukh
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Refractive surgery devices market Outlook - 2027

Refractive surgery, a subfield of ophthalmology, is defined as the surgical correction of refractive errors of the human eye. It has become a highly specialized area in the last few years. Ophthalmic surgeons now have a multiplicity of refractive surgical methods at their disposal for the individualized correction of refractive errors. Techniques of refractive surgery on the cornea and lens are now available that reliably fulfill the standard criteria of safety, efficacy, cost-effectiveness, and predictability of the refractive outcome. For people who are nearsighted, certain refractive surgery techniques will reduce the curvature of a cornea that is too steep so that the eye's focusing power is lessened. Images that are focused in front of the retina, due to a longer eye or steep corneal curve, are pushed closer to or directly onto the retina following surgery. Farsighted people will have refractive surgery procedures that achieve a steeper cornea to increase the focusing power of the eyes. Images that are focused beyond the retina, due to a short eye or flat cornea, will be pulled closer to or directly onto the retina after surgery. Astigmatism can be corrected with refractive surgery techniques that selectively reshape portions of an irregular cornea to make it smooth and symmetrical. The result is that images focus clearly on the retina rather than being distorted due to light scattering through an irregularly shaped cornea.

Covid-19 Scenario analysis:

The coronavirus COVID-19 is affecting 213 countries and territories around the world. COVID-19 has created new challenges that are requiring manufacturers to innovate at speeds they never have before. Supply chain disruptions, social distancing on high-touch assembly lines, limited ability to travel, and the need for oversight add significant complexity to today’s processes. The outbreak of coronavirus disease 2019 (COVID-19) has created a global health crisis that has had a deep impact on the manufacturing market there is a shortage in supply of raw materials from Chinese manufacturers which has resulted in a severe demand-supply gap. The manufacturers are further expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to lockdown amid COVID-19. This has all affected the market adversely causing a slowdown in the Refractive surgery devices market due to shortage of supply and manufacturing.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact analysis:

Drivers:

Technological advancements:

Refractive surgery has seen extensive advancements in recent years and has evolved from a rudimentary science a few decades ago to an extremely sophisticated and hi-tech branch of Ophthalmology. Major innovations and breakthroughs have helped to make refractive surgery safe, precise, predictable and stable and improved not only the vision but the quality of life of millions of patients who have benefited from it. At the same time complications remind us to be extremely cautious and careful before we advise any refractive procedure and to be meticulous and methodical at every step of examination, surgery and follow up. Cornea is the chief refractive surface of the eye and is of approximately 550 microns thick in the center going up to 700 microns in the periphery with an average power of + 44D. It is composed of 5 layers: epithelium which is made up of basal columnar cells, wing cells and surface cells; Bowman’s membrane which is not a true membrane but a condensation of the superficial stroma, stroma which constitutes 90% of corneal thickness and is made of parallel arrangement of collagen fibrils, Descemet membrane which is a true membrane and endothelium made of hexagonal cells. Laser refractive surgery essentially consists of a spectrum of procedures aimed at modifying the refractive power of the eye by changing the corneal curvature using lasers (LASIK- Laser-Assisted In Situ Keratomileusis, PRK - photorefractive keratectomy, LASEK - laser assisted sub-epithelial keratomileusis), and intra-corneal insertion of rings or gels or changing the lenticular power using phakic lenses in the anterior or posterior chamber or clear lens extraction as for high myopia. A combination of techniques maybe used to correct higher refractive errors such a phakic IOL implantation along with LASIK, which is broadly termed as bioptics, advancements like these act as a market promoter.

Increase in population with Muscular degeneration:

Macular degeneration is a disorder that affects the retina, the light-sensitive lining at the back of the eye where images are focused. The macula-the area on the retina responsible for sharp central vision-deteriorates, causing blurred vision. This can cause difficulty reading and, for some, a blurry or blind spot in the central area of vision. The most common form of age-related macular degeneration is known as non-exudative, or the "dry" form, in which vision loss usually progresses slowly. More rapid and severe vision loss comes from exudative, or the "wet" form, of macular degeneration. In the wet form, abnormal blood vessels develop under the macula and leak fluid and blood. Both exudative and non-exudative forms of macular degeneration are age-related. They are the leading cause of blindness in people over 50. Recent studies estimate that over 1.6 million older Americans have age-related macular degeneration. The exact cause is unknown. Although age is the primary contributing factor, cigarette smoking and nutrition can also play a role in the development of age-related macular degeneration. A hereditary juvenile form of macular generation called Staged Macular Dystrophy can also cause vision loss. The increase in geriatric population is the main refractive surgery devices market driver.

Restrains:

Increased cost of surgery equipment is a major restraint.

Key benefits of the report:

  • This study presents the analytical depiction of the global Refractive surgery devices industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Refractive surgery devices market share.
  • The current market is quantitatively analyzed to highlight the global Refractive surgery devices market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global Refractive surgery devices market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Refractive surgery devices Market research report:

  • Who are the leading market players active in the Refractive surgery devices market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?

Refractive surgery devices market: Global Opportunity Analysis and Industry Forecast, 2024-2031 by Surgery Report Highlights

Aspects Details
Refractive surgery devices market: Global Opportunity Analysis and Industry Forecast, 2024-2031 by Surgery By Surgery
By Surgery
  • LASIK
  • Photorefractive Keratectomy
  • Conductive
  • Keratoplasty
  • Others
Refractive surgery devices market: Global Opportunity Analysis and Industry Forecast, 2024-2031 by Surgery By Device Type
By Device Type
  • Lasers
  • Flaps
  • Aberrometers
  • Others
Refractive surgery devices market: Global Opportunity Analysis and Industry Forecast, 2024-2031 by Surgery By End User
By End User
  • Hospitals
  • Clinics
  • Eye clinics
  • others
Refractive surgery devices market: Global Opportunity Analysis and Industry Forecast, 2024-2031 by Surgery By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
Key Market Players
Key Market Players

Abbott Medical Optics, Alcon, Nidek, Ellex Medical Lasers Limited., Carl Zeiss AG, Bausch & Lomb Incorporated, SCHWIND eye-tech-solutions GmbH & Co, Lumenis, Johnson & Johnson Surgical Vision, Ziemer Ophthalmic Systems AG

Key Market Players
Other Players

Essilor Group

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Refractive surgery devices market: Global Opportunity Analysis and Industry Forecast, 2024-2031 by Surgery

Global Opportunity Analysis and Industry Forecast, 2020-2027 by Surgery (LASIK, Photorefractive Keratectomy, Conductive, Keratoplasty, Others), by Device Type (Lasers, Flaps, Aberrometers, Others) and by End User (Hospitals, Clinics, Eye clinics, others): Global Opportunity Analysis and Industry Forecast, 2023-2032