Regional Analysis

$Refractive Surgery Market Regional Insights$

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Regional Analysis:

Dominating Region: North America

North America dominates the global refractive surgery market with an estimated share of 39.2% in 2024. This can be attributed to the well-established healthcare infrastructure and the high adoption rate of advanced medical technologies in countries like the U.S. Additionally, the presence of major players like Alcon Inc. in the region has continuously pushed technological advancement in refractive surgeries.

Fastest-Growing Region: Asia Pacific

The Asia Pacific market exhibits the fastest growth owing to factors like the rising medical tourism industry, growing medical expenditures, increasing awareness about refractive error corrections, and favorable government policies supporting healthcare development in many countries.

Refractive Surgery Market Outlook for Key Countries

Rising Myopia Rates Drive the Demand for Advanced Refractive Surgery Devices in the U.S.

The U.S. accounted for a significant share of the refractive surgery industry. According to the National Library of Medicine, in April 2023, the rising prevalence of myopia, including nearly 13 million cases of high myopia over the past 30 years, underscores the increasing demand for refractive surgery devices. This growing need highlights the importance of advanced treatments and fuels the adoption of innovative refractive surgery technologies. As more individuals seek solutions for myopia, the market in the U.S. demonstrates strong potential for growth and continued investment.

Screen Time Surge Fuels the U.K. Refractive Surgery Market Growth

The U.K. refractive surgery industry is growing, driven by rising screen time among Brits, who spend an average of 1 hour and 52 minutes daily on social media, according to data from Independent UK published in June 2024. Prolonged screen use increases the risk of digital eye strain and vision issues like myopia, prompting more people to seek corrective solutions. This trend highlights a significant market opportunity as individuals look to address vision problems caused by extended screen exposure, boosting the demand for advanced refractive treatments.

Japan Leads Innovation with Advanced Refractive Surgery Technologies

Japan refractive surgery industry is poised for rapid growth. In March 2024, the Japan International Eye Hospital received the Vietnam SMILE Ambassadors award from Mr. Carl Zeiss, recognizing 12,500 successful ReLEx SMILE surgeries, an advanced laser treatment that preserves corneal tissue and offers significant patient benefits. Additionally, in February 2020, STAAR Surgical Company entered a strategic cooperation agreement with Senshinkai Eye Institute (SEI), Japan’s second-largest network of refractive surgery clinics, further strengthening the market with SEI's extensive expertise and reach.

China Refractive Surgery Market Booms with High Myopia Rates and Innovation

China refractive surgery industry is experiencing rapid growth, fueled by increasing myopia rates, technological advancements, and growing consumer demand. Aier Group's May 2021 report, based on over 1 million myopia surgeries from 520,000 patients across 29 provinces, highlights robust market expansion and opportunities for innovation. The report offers valuable insights into enhancing surgical quality and driving future advancements in the field.