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In October 2018, PhysIOL, Belgian medical devices company launched R-Evo smart, a full set of ophthalmic surgery equipment. The company is offering R-evo smart in 3 different models, Cataract Surgery E, Cataract Surgery S, and Cataract & Vitreo-retinal surgeries. Refractive surgeries highly reduce the dependencies on eyeglasses or contact lenses, also they are carried out to correct refractive eye errors such as nearsightedness, farsightedness, astigmatism, and presbyopia.
Refractive errors are caused due to the improper shape of cornea or eyeballs. Refractive surgery procedure includes reshaping of eyeballs or cornea with the help of laser. According to the World Health Organization, factors responsible for uncorrected refractive errors are lack of screening which leads to undetected refractive error and availability & affordability of refractive corrections.
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Rising prevalence of near-sightedness and astigmatism are prominent drivers for the growth of the global refractive surgery devices market. Combined with this, strict implementation of children eye screening programs on a community level in emerging nations as well as developed nations and awareness campaigns about undetected refractive errors promoted by World Health Organization are expected to identify patients with eye abnormalities, which will eventually boost the demand for global refractive surgery devices market during the forecast period.
According to the World Health Organization, an estimated 153 million people are visually impaired due to uncorrected refractive error, out of which an estimated 8 million people loses their vision globally.
However, increased risks of overcorrected or under-corrected vision, loss of the corneal flap, corneal haze and chances of vision loss are restraining factors for the global refractive surgery devices market.
Some of the major companies that are present in the global refractive surgery devices market are US Ophthalmic, AMETEK, Inc. and Reichert, Inc., Essilor, bon Optic Vertriebsgesellschaft mbH, NIDEK CO., LTD., TOPCON CORPORATION, Carl Zeiss NV, Oftas, Johnson & Johnson Surgical Vision, Inc., LENSAR, Inc., Bausch & Lomb Incorporated, VISX, Incorporated, Avedro, Inc. and others.
By Type of Surgery
· LASIK (Laser in-situ keratomileusis),
· Photorefractive Keratectomy
· Conductive Keratoplasty
By Device Type
By End User
· Ophthalmic Clinics
· Ambulatory Surgery Centres
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Among the segmentation, LASIK in surgery type segment is expected to hold a considerable share in the global refractive surgery devices market owing to higher preference for LASIK surgeries, since it offers comparatively higher benefits in terms of surgery recovery and cost.
North America is expected to dominate the global refractive surgery devices market during the forecast period owing to the growing prevalence of refractive eye errors and rising incidence of near sightedness. According to the National Eye Institute, the prevalence of near sightedness in increasing in the U.S. as well as worldwide. As per the research conducted by National Eye Institute, in 2017, an estimated, 41.6% of people in the U.S. were affected by near sightedness, as compared to 25.0% in 1970. The aging population is also playing a prominent role increased demand for global refractive surgery devices market since the geriatric population is highly vulnerable for eye disorders.
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