REFRACTIVE SURGERY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The global refractive surgery market is estimated to be valued at USD 231.5 Mn in 2024 and is expected to reach USD 429.1 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031. Refractive surgery refers to a group of surgical procedures that aims to reduce or eliminate dependency on glasses and contact lenses by correcting refractive errors in vision. Refractive errors occur due to abnormal focusing of light inside the eye and the common ones include myopia, hyperopia, and astigmatism. Over the past few decades, the global refractive surgery market has witnessed substantial growth owing to the increasing prevalence of refractive errors and technological advancements in ophthalmology. According to the World Health Organization, around 2.5 billion people globally suffer from near-sightedness, far-sightedness, or astigmatism. Developed economies largely account for higher demand for refractive surgery given higher awareness levels and accessibility to advanced healthcare infrastructure.
Market Dynamics:
Major growth drivers for the global refractive surgery market include rapidly growing geriatric population which is more susceptible to refractive errors, increasing awareness about refractive surgical procedures among patients, and rising healthcare expenditure in developing nations. Industry players are aggressively conducting marketing campaigns to educate people regarding various vision correction options. However, high costs of laser refractive systems and surgeries continue to limit market expansion to some extent. Ongoing research and development activities to develop safe and precision laser systems are expected to create new opportunities in the market. For example, the development of new laser-based refractive techniques like LASIK and LASEK Laser-Assisted In Situ Keratomileusis) have enhanced success rates and reduced risks associated with older procedures.
Key Features of the Study:
- This report provides in-depth analysis of the global refractive surgery market, and provides market size (USD Million) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global refractive surgery market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Alcon Inc., Johnson & Johnson Vision, Bausch + Lomb, Abbott Laboratories, Ziemer Ophthalmic Systems AG, Carl Zeiss AG, Nidek Co., Ltd., Rayner Intraocular Lenses Limited, Topcon Corporation, SurgiVision, Vision Group Holdings, Lumenis Ltd., Avedro, Inc., iLASIK, and OptiMedica Corporation.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global refractive surgery market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global refractive surgery market
Market Segmentation
Market Segmentation
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