Market Overview:
The global refractive surgical devices market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to factors such as the increasing prevalence of refractive errors, technological advancements in refractive surgical devices, and rising demand for laser-based surgeries. Based on type, the global refractive surgical devices market is segmented into femtosecond lasers, excimer lasers, and others. Femtosecond lasers are expected to witness the highest growth during the forecast period owing to their advantages over other types of laser-based surgeries. These advantages include precision and accuracy in surgery outcomes, reduced chances of postoperative complications, and shorter recovery times. Based on application, the global refractive surgical devices market is segmented into hospitals, private eye clinics,, and others. Hospitals are expected to account for a major share of this market due to increasing demand for laser-based surgeries from patients across all age groups.
Product Definition:
Refractive surgical devices are medical instruments used to change the shape of the cornea in order to improve a person's vision. These devices include lasers, microkeratomes, and femtosecond lasers. The importance of refractive surgical devices is that they can correct common vision problems such as nearsightedness, farsightedness, and astigmatism.
Femtosecond Lasers:
Femtosecond lasers are ultrafast laser systems that operate at a wavelength of 515 nm and have been gaining popularity in ophthalmology, dermatology, dentistry and cosmetology. The growing demand for minimally invasive procedures coupled with the increasing geriatric population is expected to drive the growth of this market during the forecast period.
Excimer Lasers:
Excimer lasers are the most advanced technology for hair removal. They are also known as Nd: YAG or laser diode lasers because of their Wavelength (Nd: YAG), which is 10-12 milionths (1064 nm). Excimer laser has wide applications in medical and cosmetic industry. It can be used to treat warts, skin tags, birthmarks, and other unwanted lesions with high precision and effectiveness.
Application Insights:
Based on application, the global refractive surgical devices market is segmented into hospitals, private clinics and ophthalmic surgery centers, and others. Hospitals held the largest share in 2017 owing to increasing prevalence of chronic diseases such as diabetes and glaucoma that require regular monitoring by doctors. As a result, demand for advanced equipment in hospitals is high.
The use of refractive surgical devices at private eye clinics or ophthalmic surgery centers has been rising steadily over the past few years due to growing awareness about these facilities among individuals who are above 40 years of age or have a family history of cataract formation or other eye diseases.
Regional Analysis:
North America dominated the global market in 2017 owing to the increasing prevalence of vision correction procedures and favorable reimbursement policies. The U.S.-based companies are engaged in extensive R&D activities for developing advanced refractive surgical devices with faster results, which is expected to drive regional growth over the forecast period.
Europe accounted for a significant share of revenue in 2017 due to an increase in demand for cosmetic surgeries and growing geriatric population prone to cataract & refractive errors that require surgery treatment. Moreover, technological advancements such as development of COVID-19 Lasers by Ophtecs Corporation; incorporation of wavefront technology by AbbVie Inc.; and launch of products like Acclarent’s ReflecTV Customized Cataract Surgery System are anticipated to boost product adoption across this region during the forecast period – from 2018 through 2030).
Growth Factors:
- Increasing prevalence of refractive errors: The increasing prevalence of refractive errors is one of the key growth drivers for the global refractive surgical devices market. According to a study by The Vision Council, approximately 45% of adults in the U.S. have some form of refractive error, which is expected to increase to 54% by 2020. This growing population base is likely to drive demand for various types of refractive surgical devices in the coming years.
- Rising awareness about corrective surgeries: There has been a significant rise in awareness about corrective surgeries in recent years, owing to increasing incidences of vision problems among people across all age groups. This has led more people towards opting for corrective surgeries, thereby driving demand for various types of refractive surgical devices worldwide.
- Technological advancements: The rapid advancement and innovation in technology has led to the development and commercializationof novelrefractivesurgicaldevicesinrecentyears,suchasthe femtosecond laser-assisted cataract surgery (FLACS) system and presbyopia-correcting intraocular lenses (IOLs). These technological advancements are likelyto fuelgrowthintherefractivesurgicaldevicesmarketinthecomingyears .
Scope Of The Report
Report Attributes
Report Details
Report Title
Refractive Surgical Devices Market Research Report
By Type
Femtosecond Lasers, Excimer Lasers, Others
By Application
Hospitals, Private Eye Clinics, Others
By Companies
Alcon, Abbott Laboratories, Topcon corporation, Allergan, Inc., Essilor International SA, BAUSCH & LOMB, Inc., Valeant Pharmaceuticals International, Inc., STAAR Surgical Company, NIDEK Co., Ltd., Carl Zeiss Meditec, Inc., Alcon
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
199
Number of Tables & Figures
140
Customization Available
Yes, the report can be customized as per your need.
Global Refractive Surgical Devices Market Report Segments:
The global Refractive Surgical Devices market is segmented on the basis of:
Types
Femtosecond Lasers, Excimer Lasers, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals, Private Eye Clinics, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Alcon
- Abbott Laboratories
- Topcon corporation
- Allergan, Inc.
- Essilor International SA
- BAUSCH & LOMB, Inc.
- Valeant Pharmaceuticals International, Inc.
- STAAR Surgical Company
- NIDEK Co., Ltd.
- Carl Zeiss Meditec, Inc.
- Alcon
Highlights of The Refractive Surgical Devices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Femtosecond Lasers
- Excimer Lasers
- Others
- By Application:
- Hospitals
- Private Eye Clinics
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Refractive Surgical Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Refractive surgical devices are medical devices that help correct vision by altering the shape of light waves as they pass through the eye. Refractive surgery is a type of surgery that uses these devices to improve vision.
Some of the major companies in the refractive surgical devices market are Alcon, Abbott Laboratories, Topcon corporation, Allergan, Inc., Essilor International SA, BAUSCH & LOMB, Inc., Valeant Pharmaceuticals International, Inc., STAAR Surgical Company, NIDEK Co., Ltd., Carl Zeiss Meditec, Inc., Alcon.
The refractive surgical devices market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Refractive Surgical Devices Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Refractive Surgical Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Refractive Surgical Devices Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Refractive Surgical Devices Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Refractive Surgical Devices Market Size & Forecast, 2020-2028
4.5.1 Refractive Surgical Devices Market Size and Y-o-Y Growth
4.5.2 Refractive Surgical Devices Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Femtosecond Lasers
5.2.2 Excimer Lasers
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Private Eye Clinics
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Refractive Surgical Devices Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Refractive Surgical Devices Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Femtosecond Lasers
9.6.2 Excimer Lasers
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Private Eye Clinics
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Femtosecond Lasers
10.6.2 Excimer Lasers
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Private Eye Clinics
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Femtosecond Lasers
11.6.2 Excimer Lasers
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Private Eye Clinics
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Femtosecond Lasers
12.6.2 Excimer Lasers
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Private Eye Clinics
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Femtosecond Lasers
13.6.2 Excimer Lasers
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Private Eye Clinics
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Refractive Surgical Devices Market: Competitive Dashboard
14.2 Global Refractive Surgical Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Alcon
14.3.2 Abbott Laboratories
14.3.3 Topcon corporation
14.3.4 Allergan, Inc.
14.3.5 Essilor International SA
14.3.6 BAUSCH & LOMB, Inc.
14.3.7 Valeant Pharmaceuticals International, Inc.
14.3.8 STAAR Surgical Company
14.3.9 NIDEK Co., Ltd.
14.3.10 Carl Zeiss Meditec, Inc.
14.3.11 Alcon
