Clear Vision, Bright Future: Innovating Refractive Surgery Solutions

Refractive surgery devices are used in ophthalmic procedures to correct vision problems such as nearsightedness, farsightedness, and astigmatism. The European market for refractive surgery devices is driven by factors such as the increasing prevalence of vision disorders, advancements in surgical techniques, rising patient demand for vision correction, and the growing elderly population. The incorrect shape of the cornea or eyeballs is the main cause of refractive errors. A refractive surgery procedure involves reshaping the cornea or eyeballs using a variety of refractive surgery tools, including phakic intraocular lenses and toric intraocular lenses, advanced lasers, LASIK procedures, and photorefractive keratectomy.

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Data Bridge Market Research analyses that the Europe Refractive Surgery Devices Market is expected to grow at a CAGR of 7.6% in the forecast period of 2022 to 2029 and is expected to reach USD 746.40 million by 2029 from USD 422.98 million in 2021. The increasing prevalence of refractive errors, including myopia, hyperopia, and astigmatism, is fueling the demand for refractive surgery devices in Europe. These devices play a crucial role in correcting vision problems and improving visual acuity, thereby addressing the growing need for effective and long-lasting solutions for individuals with refractive errors.

Key Findings of the Study

Medical tourism is expected to drive the market's growth rate

Europe's popularity as a destination for medical tourism, particularly for refractive surgeries, is a key driver for the growth of the refractive surgery devices market in the region. Many individuals from different parts of the world travel to Europe to undergo these procedures due to the availability of advanced healthcare facilities, highly skilled surgeons, and competitive pricing. The influx of medical tourists contributes to the increased demand for refractive surgery devices and supports market expansion in Europe.

Report Scope and Market Segmentation

Segment Analysis:

The refractive surgery devices market is segmented on the basis of product type, surgery type, application, end user, and distribution channel.

• On the basis of product type, the refractive surgery devices market is segmented into a laser, phakic intraocular lens (IOL), aberrometer/wavefront aberrometry, surgical instruments and accessories, refractive surgery kits, pupillary diameter meters, epikeratomes, microkeratomes, thermokeratoplasty, limbal relaxing incision kits, and others.
• On the basis of surgery type, the refractive surgery devices market is segmented into lasik (laser in-situ keratomileusis), photorefractive keratectomy (PRK), phakic intraocular lenses (IOL), astigmatic keratotomy (AK), automated lamellar keratoplasty (alk), intracorneal ring (intacs), laser thermal keratoplasty (LTK), conductive keratoplasty (CK), radial keratotomy (RK), and others.
• On the basis of application, the refractive surgery devices market is segmented into nearsightedness (myopia), farsightedness (hyperopia), astigmatism, and presbyopia.
• On the basis of end user, the refractive surgery devices market is segmented into hospitals, specialty clinics, ambulatory surgical centers, and others.
• On the basis of distribution channel, the refractive surgery devices market is segmented into direct tender, third party distributors, and others.

Major Players

Data Bridge Market Research recognizes the following companies as the major refractive surgery devices market players in refractive surgery devices market are Johnson & Johnson Services, Inc. (U.S.), Ophtec BV (Netherlands), Glaukos Corporation (U.S.), Amplitude Laser (France), Reichert, Inc. (U.S.), NIDEK CO., LTD. (Japan)

Market Development

• In 2021, Johnson & Johnson Vision launched the VERITAS Vision System, next-generation phacoemulsification (phaco) system. This system is developed to look after three important areas: surgeon efficiency, patient safety, and comfort. This has increased the company's product portfolio
• In 2021, Glaukos Corporation received regulatory approval from the Therapeutic Goods Administration (TGA) of Australia for PRESERFLO MicroShunt.
• In 2021, Bausch & Lomb Incorporated signed an agreement with Lochan, a company in the Information Technology Services Industry. These companies aimed to develop the next generation of Bausch & Lomb Incorporated's eyeTELLIGENCE clinical decision support software.
• In 2021, NIDEK unveiled RT-6100 CB for Windows, optional control software for the RT-6100 Intelligent Refractor, and the TS-610 Tabletop Refraction System. This software attunes to the distinct requirements of patients and operators.

Regional Analysis

Geographically, the countries covered in the refractive surgery devices market report are Germany, France, U.K., Italy, Spain, Netherlands, Russia, Switzerland, Belgium, Turkey, Austria, Norway, Hungary, Lithuania, Ireland, and Poland Rest of Europe

As per Data Bridge Market Research analysis:

Germany is the expected to dominant in refractive surgery devices market during the forecast period 2022-2029

Germany is expected to dominate the refractive surgery devices market in Europe due to the increasing adoption of minimally invasive surgeries in the country. Minimal invasive techniques, such as LASIK and SMILE, have gained popularity among patients as they offer faster recovery, reduced post-operative discomfort, and better visual outcomes. The growing preference for these procedures, supported by advanced healthcare infrastructure and skilled ophthalmic surgeons in Germany, contributes to the market dominance of the country in the region.

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