Healthcare

Refractive Surgery Devices Market Size to Rake US$ 300.8 Mn by 2030

The global Refractive Surgery Devices market size is expected to be worth around US$ 300.8 Mn by 2030, according to a new report by Vision Research Reports.

Refractive Surgery Devices Market (By Application: Myopia, Hyperopia, Astigmatism, Presbyopia, Dry Eyes; By Product: Lasers, Microkeratome, Aberrometers, Others; By End-use: Hospitals, Ambulatory Surgery Centers, Ophthalmology Clinics) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

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Report Insight

Report Coverage Details
Market Size US$ 300.8 Mn by 2030
Growth Rate CAGR of 10.7% From 2021 to 2030
Base year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Application, Product, End use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Johnson & Johnson Services, Inc.; Carl Zeiss Meditec AG; Alcon; Bausch & Lomb Incorporated; Quantel Medical; TOPCON CORPORATION; Essilor; NIDEK CO., LTD.; SCHWIND eye-tech-solutions

Report Highlights

Myopia held the largest share of 30.1% in 2020 and is expected to grow at a moderate rate during the forecast period. The prevalence of myopia is increasing globally at a high rate, with a significant increase in the risks of vision impairment. As per the WHO, countries in which the prevalence of myopia has been estimated and measured as low in the past (e.g. India) will have major increases by 2050. Hyperopia held a significant share in 2020 as it is a frequent refractive disease that affects both children and adults. The frequently used method for medically correcting hyperopia is excimer laser surgery (193 nm).

The astigmatism segment is expected to grow at the fastest rate of 10.4% during the forecast period. The astigmatism segment is anticipated to boom in the market due to the advancements in technology and the increased rate of astigmatism disorder. According to the American Optometric Association, almost everyone has some degree of astigmatism, which can be corrected by most forms of refractive surgery. This is expected to boost the segment growth during the forecast period.

The lasers segment held the largest revenue share of 44.9% in 2020 owing to the increased usage of laser surgeries for vision correction and technological advancements. The segment will expand at the fastest CAGR from 2021 to 2028.LASIK and other laser refractive surgeries, including PRK and LASEK, are in high demand. This is due to decreasing adoption of eyeglasses or contact lenses for vision correction over refractive surgery due to the high success rate. The Refractive Surgery Council (RSC) strongly started 2021 with a nearly 30%increase in laser vision correction procedures yearly.

The microkeratome segment is expected to expand at a healthy CAGR over the forecast period. The fast expansion of the geriatric population and the rise in the frequency of eye diseases are expected to drive the segment. Furthermore, technological modifications to the blade angle approach, blade’s oscillation frequency, and the blade’s material have been attempted to improve flap cutting and decrease uneven astigmatism, which is a significant factor fueling the segment growth.

The hospitals segment held the largest share of nearly 47.0% in 2020. The procurement of ophthalmic refractive surgical devices in these settings due to their longer shelf life is expected to contribute to the segment growth. Increased refractive surgeries, improved healthcare facilities, and favorable reimbursement policies are some of the factors expected to propel the growth of the hospitals segment at a profitable rate over the projected period. Furthermore, the growing number of hospitals in emerging countries and the improvement of existing eye care infrastructure are expanding the market.

Ambulatory surgical centers are anticipated to grow at the fastest rate during the forecast period. The rising popularity of ambulatory surgical centers is due to convenience, closeness, and reduced costs for patients and insurance. Patients may find that ambulatory surgical centers provide more convenience than hospital OPDs, such as the ability to schedule surgery more quickly. This is expected to boost the segment growth.

North America held the largest share of over 30.0%. High incidence of refractive errors, the presence of significant market players, and the availability of effective reimbursement policies are expected to contribute to the regional market growth. According to the WHO statistics, the number of people aged 65 years and above in the country is expected to reach 78 million by 2035, which will have a positive impact on product demand. Moreover, the implementation of advanced technologies for the development of surgical products is expected to augment the market growth in the region.

Key Players

  • Johnson & Johnson Services, Inc.
  • Carl Zeiss Meditec AG
  • Alcon
  • Bausch & Lomb Incorporated
  • Quantel Medical
  • TOPCON CORPORATION
  • Essilor
  • NIDEK CO., LTD.
  • SCHWIND eye-tech-solutions

Market Segmentation

  • Application Outlook
    • Myopia
    • Hyperopia
    • Astigmatism
    • Presbyopia
    • Dry Eyes
  • Product Outlook
    • Lasers
    • Microkeratome
    • Aberrometers
    • Others
  • End-use Outlook
    • Hospitals
    • Ambulatory Surgery Centers
    • Ophthalmology Clinics
  • Regional Outlook
    • North America
      • U.S.
      • Canada
    •  Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
    • Asia Pacific
      • Japan
      • China
      • India
      • Thailand
      • South Korea
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
    • Middle East and Africa
      • South Africa
      • Saudi Arabia
      • UAE

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The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Refractive Surgery Devices Market, By Product

7.1.  Refractive Surgery Devices Market, by Product, 2021-2030

7.1.1.    Lasers

7.1.1.1.        Market Revenue and Forecast (2016-2030)

7.1.2.    Microkeratome

7.1.2.1.        Market Revenue and Forecast (2016-2030)

7.1.3.    Aberrometers

7.1.3.1.        Market Revenue and Forecast (2016-2030)

7.1.4.    Others

7.1.4.1.        Market Revenue and Forecast (2016-2030)

Chapter 8.  Global Refractive Surgery Devices Market, By Application

8.1.  Refractive Surgery Devices Market, by Application, 2021-2030

8.1.1.    Myopia

8.1.1.1.        Market Revenue and Forecast (2016-2030)

8.1.2.    Hyperopia

8.1.2.1.        Market Revenue and Forecast (2016-2030)

8.1.3.    Astigmatism

8.1.3.1.        Market Revenue and Forecast (2016-2030)

8.1.4.    Presbyopia

8.1.4.1.        Market Revenue and Forecast (2016-2030)

8.1.5.    Dry Eyes

8.1.5.1.        Market Revenue and Forecast (2016-2030)

Chapter 9.  Global Refractive Surgery Devices Market, By End User

9.1.  Refractive Surgery Devices Market, by End User, 2021-2030

9.1.1.    Hospitals

9.1.1.1.        Market Revenue and Forecast (2016-2030)

9.1.2.    Ambulatory Surgery Centers

9.1.2.1.        Market Revenue and Forecast (2016-2030)

9.1.3.    Ophthalmology Clinics

9.1.3.1.        Market Revenue and Forecast (2016-2030)

Chapter 10.      Global Refractive Surgery Devices Market, Regional Estimates and Trend Forecast

10.1.        North America

10.1.1.  Market Revenue and Forecast, by Product (2016-2030)

10.1.2.  Market Revenue and Forecast, by Application (2016-2030)

10.1.3.  Market Revenue and Forecast, by End User (2016-2030)

10.1.4.  U.S.

10.1.4.1.      Market Revenue and Forecast, by Product (2016-2030)

10.1.4.2.      Market Revenue and Forecast, by Application (2016-2030)

10.1.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.1.5.  Rest of North America

10.1.5.1.      Market Revenue and Forecast, by Product (2016-2030)

10.1.5.2.      Market Revenue and Forecast, by Application (2016-2030)

10.1.5.3.      Market Revenue and Forecast, by End User (2016-2030)

10.2.        Europe

10.2.1.  Market Revenue and Forecast, by Product (2016-2030)

10.2.2.  Market Revenue and Forecast, by Application (2016-2030)

10.2.3.  Market Revenue and Forecast, by End User (2016-2030)

10.2.4.  UK

10.2.4.1.      Market Revenue and Forecast, by Product (2016-2030)

10.2.4.2.      Market Revenue and Forecast, by Application (2016-2030)

10.2.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.2.5.  Germany

10.2.5.1.      Market Revenue and Forecast, by Product (2016-2030)

10.2.5.2.      Market Revenue and Forecast, by Application (2016-2030)

10.2.5.3.      Market Revenue and Forecast, by End User (2016-2030)

10.2.6.  France

10.2.6.1.      Market Revenue and Forecast, by Product (2016-2030)

10.2.6.2.      Market Revenue and Forecast, by Application (2016-2030)

10.2.6.3.      Market Revenue and Forecast, by End User (2016-2030)

10.2.7.  Rest of Europe

10.2.7.1.      Market Revenue and Forecast, by Product (2016-2030)

10.2.7.2.      Market Revenue and Forecast, by Application (2016-2030)

10.2.7.3.      Market Revenue and Forecast, by End User (2016-2030)

10.3.        APAC

10.3.1.  Market Revenue and Forecast, by Product (2016-2030)

10.3.2.  Market Revenue and Forecast, by Application (2016-2030)

10.3.3.  Market Revenue and Forecast, by End User (2016-2030)

10.3.4.  India

10.3.4.1.      Market Revenue and Forecast, by Product (2016-2030)

10.3.4.2.      Market Revenue and Forecast, by Application (2016-2030)

10.3.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.3.5.  China

10.3.5.1.      Market Revenue and Forecast, by Product (2016-2030)

10.3.5.2.      Market Revenue and Forecast, by Application (2016-2030)

10.3.5.3.      Market Revenue and Forecast, by End User (2016-2030)

10.3.6.  Japan

10.3.6.1.      Market Revenue and Forecast, by Product (2016-2030)

10.3.6.2.      Market Revenue and Forecast, by Application (2016-2030)

10.3.6.3.      Market Revenue and Forecast, by End User (2016-2030)

10.3.7.  Rest of APAC

10.3.7.1.      Market Revenue and Forecast, by Product (2016-2030)

10.3.7.2.      Market Revenue and Forecast, by Application (2016-2030)

10.3.7.3.      Market Revenue and Forecast, by End User (2016-2030)

10.4.        MEA

10.4.1.  Market Revenue and Forecast, by Product (2016-2030)

10.4.2.  Market Revenue and Forecast, by Application (2016-2030)

10.4.3.  Market Revenue and Forecast, by End User (2016-2030)

10.4.4.  GCC

10.4.4.1.      Market Revenue and Forecast, by Product (2016-2030)

10.4.4.2.      Market Revenue and Forecast, by Application (2016-2030)

10.4.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.4.5.  North Africa

10.4.5.1.      Market Revenue and Forecast, by Product (2016-2030)

10.4.5.2.      Market Revenue and Forecast, by Application (2016-2030)

10.4.5.3.      Market Revenue and Forecast, by End User (2016-2030)

10.4.6.  South Africa

10.4.6.1.      Market Revenue and Forecast, by Product (2016-2030)

10.4.6.2.      Market Revenue and Forecast, by Application (2016-2030)

10.4.6.3.      Market Revenue and Forecast, by End User (2016-2030)

10.4.7.  Rest of MEA

10.4.7.1.      Market Revenue and Forecast, by Product (2016-2030)

10.4.7.2.      Market Revenue and Forecast, by Application (2016-2030)

10.4.7.3.      Market Revenue and Forecast, by End User (2016-2030)

10.5.        Latin America

10.5.1.  Market Revenue and Forecast, by Product (2016-2030)

10.5.2.  Market Revenue and Forecast, by Application (2016-2030)

10.5.3.  Market Revenue and Forecast, by End User (2016-2030)

10.5.4.  Brazil

10.5.4.1.      Market Revenue and Forecast, by Product (2016-2030)

10.5.4.2.      Market Revenue and Forecast, by Application (2016-2030)

10.5.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.5.5.  Rest of LATAM

10.5.5.1.      Market Revenue and Forecast, by Product (2016-2030)

10.5.5.2.      Market Revenue and Forecast, by Application (2016-2030)

10.5.5.3.      Market Revenue and Forecast, by End User (2016-2030)

Chapter 11.  Company Profiles

11.1.              Johnson & Johnson Services, Inc.

11.1.1.  Company Overview

11.1.2.  Product Offerings

11.1.3.  Financial Performance

11.1.4.  Recent Initiatives

11.2.              Carl Zeiss Meditec AG

11.2.1.  Company Overview

11.2.2.  Product Offerings

11.2.3.  Financial Performance

11.2.4.  Recent Initiatives

11.3.              Alcon

11.3.1.  Company Overview

11.3.2.  Product Offerings

11.3.3.  Financial Performance

11.3.4.  Recent Initiatives

11.4.              Bausch & Lomb Incorporated

11.4.1.  Company Overview

11.4.2.  Product Offerings

11.4.3.  Financial Performance

11.4.4.  Recent Initiatives

11.5.              Quantel Medical

11.5.1.  Company Overview

11.5.2.  Product Offerings

11.5.3.  Financial Performance

11.5.4.  Recent Initiatives

11.6.              TOPCON CORPORATION

11.6.1.  Company Overview

11.6.2.  Product Offerings

11.6.3.  Financial Performance

11.6.4.  Recent Initiatives

11.7.              Essilor

11.7.1.  Company Overview

11.7.2.  Product Offerings

11.7.3.  Financial Performance

11.7.4.  Recent Initiatives

11.8.              NIDEK CO., LTD.

11.8.1.  Company Overview

11.8.2.  Product Offerings

11.8.3.  Financial Performance

11.8.4.  Recent Initiatives

11.9.              SCHWIND eye-tech-solutions

11.9.1.  Company Overview

11.9.2.  Product Offerings

11.9.3.  Financial Performance

11.9.4.  Recent Initiatives

Chapter 12.  Research Methodology

12.1.              Primary Research

12.2.              Secondary Research

12.3.              Assumptions

Chapter 13.  Appendix

13.1.              About Us

13.2.              Glossary of Terms

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