REFRACTIVE SURGERY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Takeaways from Analyst

The global refractive surgery industry is expected to witness steady growth over the forecast period driven by the rising prevalence of myopia and growing acceptance of refractive error correction procedures. The increasing number of eye disorders caused due to extensive use of digital devices and busier modern lifestyles is a major factor propelling the demand for refractive error correction procedures. The market is further supported by technological advancements in refractive surgery devices and procedures that have made corrective surgeries safer, more accurate, and less invasive.

However, the market potential is still untapped in developing regions due to lower affordability and lack of widespread healthcare infrastructure. High procedure costs, risks of post-surgery complications and long downtimes are key challenges restraining market growth. Long waiting periods at ophthalmic clinics also deter patients from opting for refractive surgeries.

The market observes immense opportunities in Asia Pacific led by China, India and Japan on account of rising healthcare expenditures, growing medical tourism, and increasing prevalence of myopia among younger populations. North America currently dominates the global refractive surgery market and is expected to continue its lead supported by the U.S. Food and Drug Administration approvals to new refractive approaches and a large base of ophthalmologists. Consolidation of key players and launch of technologically advanced refractive surgery devices is further strengthening the market in the region.