The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Refractive Surgery Devices And Equipment Global Market Report 2024, the refractive surgery devices and equipment market is expected to show significant growth in the forecast period.

The refractive surgery devices and equipment market have experienced rapid growth, increasing from $0.17 billion in 2023 to $0.2 billion in 2024, with a compound annual growth rate (CAGR) of 13.5%. Forecasts suggest continued rapid growth, reaching $0.32 billion in 2028, driven by factors such as an aging population, technological advancements, and increasing demand for vision correction. This blog explores the key drivers, technological advancements, and regulatory aspects of the refractive surgery market.

Growing Geriatric Population Drives Market Demand

Global Geriatric Population

• The rise in the geriatric population globally, particularly those with eye disorders, fuels the demand for refractive surgery devices.
• Age-related macular degeneration is a leading cause of vision loss, especially in individuals aged 65 and above.

Rising Elderly Population in the USA

• The U.S. is experiencing a steady increase in its elderly population.
• By 2030, an estimated 70 million Americans will be over 65 years of age, with approximately one in three older individuals having optic disorders.

Key Market Players

• Major companies driving the refractive surgery market include Alcon, Johnson & Johnson, Carl Zeiss AG, and Valeant Pharmaceuticals.
• These companies play a vital role in meeting the increasing demand for refractive surgeries.

View More On The Refractive Surgery Devices And Equipment Market Report 2024 – https://www.thebusinessresearchcompany.com/report/refractive-surgery-devices-and-equipment-global-market-report

Innovative Technological Advancements

Introduction of Femtosecond Laser System

• Key players in the market are focusing on technological innovations, such as the introduction of the femtosecond laser system.
• Johnson & Johnson Vision launched the ELITA platform, incorporating the SILK method for advanced corneal refractive techniques.

ELITA Platform Features

• The SILK method is specifically designed to address myopia in patients with astigmatism.
• ELITA System enhances corneal flap creation, providing improved outcomes for patients undergoing LASIK surgery or other refractive treatments.

Regulatory Oversight: FDA and Surgical Medical Devices

FDA Regulation in the USA

• The sale of medical devices for refractive surgery is regulated by the U.S. Food and Drug Administration (FDA).
• The FDA plays a crucial role in monitoring the safety of all regulated medical devices in the refractive surgery domain.

Market Segmentation and Forecast

Market Segmentation

1. Product Type:
   • Microkeratome
   • Excimer Lasers
   • Femtosecond Lasers
   • YAG Lasers
2. Application:
   • Astigmatism
   • Near-sightedness
   • Farsightedness
3. End User:
   • Hospitals
   • Ambulatory Surgical Centres
   • Ophthalmology Clinics

Forecasted Growth

• The refractive surgery devices and equipment market are expected to witness rapid growth, reaching $0.32 billion in 2028, with a CAGR of 12.4%.
• Factors contributing to this growth include customized refractive surgery, emerging markets, myopia control, and ongoing technological innovations.

Conclusion
In conclusion, the refractive surgery devices and equipment market is undergoing substantial growth, driven by the increasing demand for vision correction, technological advancements, and a growing aging population with eye disorders. Key players are focusing on innovative solutions like femtosecond laser systems, contributing to enhanced surgical techniques and better patient outcomes. Regulatory oversight from organizations like the FDA ensures the safety and efficacy of surgical medical devices in the refractive surgery domain. As the market continues to evolve, advancements in technology and strategic regulatory measures will play pivotal roles in shaping the future of refractive surgery.

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