Reactive & Other Adhesives Market Forecast 2025–2034: Trends Reshaping Demand, Investment, and Innovation
Discover trends, market shifts, and competitive outlooks for the refractive surgery devices and equipment industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
How Has The Refractive Surgery Devices And Equipment Market Size Shifted, And What Is the Outlook Through 2034?
In recent times, a significant growth has been observed in the market size of refractive surgery devices and equipment. It’s expected to surge from $1.02 billion in 2024 to $1.12 billion in 2025 with a Compound Annual Growth Rate (CAGR) of 9.7%. Causes for such growth in the historic period can be traced back to factors like demand for vision correction, advancements in technology, patient safety and satisfaction, and the aging population.
The market size for refractive surgery devices and equipment is projected to experience robust expansion in the coming years. It is predicted to reach $1.42 billion by 2029, with a compound annual growth rate (CAGR) of 6.2%. The anticipated growth in the forecast period is due to factors such as bespoke refractive surgeries, emerging markets, control of myopia, and technological advancements. Key trends during the forecast period will entail femtosecond laser-assisted cataract surgery, smile surgery, improved post-surgery surveillance, and the application of artificial intelligence (AI) in surgical planning.
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What Are the Primary Drivers Supporting the Market Growth of the Refractive Surgery Devices And Equipment Market?
The growth of the Refractive surgery devices and equipment market is significantly influenced by the ongoing rise in the global aging population suffering from eye disorders. The key cause of vision loss in individuals over the age of 65 typically is age-related macular degeneration. Numerous older people with refractive errors necessitate urgent surgical intervention to correct their vision. The continual growth in the elderly demographic represents an escalating demand for refractive surgeries. For instance, there is an expected steady rise in the elderly population in the USA, and by 2030, over 65-year-old Americans will reach a count of 70 million. Around one-third of these elderly individuals suffer from optical disorders, and this is playing a key role in propelling the refractive surgery devices and equipment market.
Which Primary Segments of the Refractive Surgery Devices And Equipment Market Are Driving Growth and Industry Transformations?
The refractive surgery devices and equipment market covered in this report is segmented –
1) By Product Type: Microkeratome, Excimer Lasers, Femtosecond Lasers, YAG Lasers
2) By Application: Astigmatism, Near-sightedness, Farsightedness
3) By End User: Hospitals, Ambulatory Surgical Centres, Opthalmology Clinics
Subsegments:
1) By Microkeratome: Disposable Blades, Automated Microkeratome Systems
2) By Excimer Lasers: LASIK Excimer Lasers, PRK Excimer Lasers
3) By Femtosecond Lasers: Femtosecond LASIK Lasers, Femtosecond Cataract Lasers
4) By YAG Lasers: Posterior Capsulotomy YAG Lasers, Peripheral Iridotomy YAG Lasers
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Which Regions Are Key Players in the Growth of the Refractive Surgery Devices And Equipment Market?
North America was the largest region in the global refractive surgery devices (or) equipment market in 2023. Asia-Pacific was the second-largest region in the refractive surgery devices (or) equipment market. The regions covered in the refractive surgery devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Key Market Trends and Innovations Are Shaping the Future of the Refractive Surgery Devices And Equipment Industry?
The refractive surgery devices and equipment market has seen a significant shift in the focus of numerous companies towards incorporating technological advances in refractive surgery. The deployment of sophisticated technologies for the rectification of refractive errors not only amplifies the scope of the treatment but curtails the time and labor costs as well. The implications of the emergence of novel corneal refractive surgical methods like the femtosecond corneal surgery technique, pseudophakia intraocular lenses, intraocular rings and segments, and collagen crosslinking-correlated corneal stiffening techniques could significantly influence the market. For instance, myopic cases displaying up to 10 dioptres with astigmatism of up to 3, find the Flex-Smile technique, or intrastromal femtosecond laser-assisted lenticular corneal excision highly useful. Additionally, the cutting-edge femtosecond laser surgical instruments offer a diverse array of benefits, such as comprehensive surgical control down to the micron in aspects such as diameter, depth, and edge angle, and also rapid flap creation.
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What Parameters Are Used to Define the Refractive Surgery Devices And Equipment Market?
Refractive surgery devices and equipment are used in refractive error surgeries, a procedure for correcting or improving vision affected by a refractive error such as near-sightedness (myopia), farsightedness (hyperopia), presbyopia, or astigmatism.
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