New York, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Refractive Surgery Devices And Equipment Global Market Report 2023" - https://www.reportlinker.com/p06277233/?utm_source=GNW
The global refractive surgery devices and equipment market will grow from $0.15 billion in 2022 to $0.17 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The refractive surgery devices and equipment market is expected to grow to $0.24 billion in 2027 at a CAGR of 9.5%.
The Refractive surgery devices and equipment market consist of sales of microkeratome, excimer lasers, femtosecond lasers, YAG lasers, and aberrometers that are used for refractive surgeries.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Refractive surgery devices and equipment are used in refractive error surgeries, a procedure for correcting or improving vision affected by a refractive error such as nearsightedness (myopia), farsightedness (hyperopia), presbyopia, or astigmatism.
North America was the largest region in the refractive surgery devices (or) equipment market in 2022.Asia Pacific was the second-largest region in the refractive surgery devices (or) equipment market.
The regions covered in the refractive surgery devices (or) equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main product types of refractive surgery devices (or) equipment are microkeratome, excimer lasers, femtosecond lasers, and YAG lasers.The excimer laser is a laser that emits concentrated light in the ultraviolet (UV) region of the spectrum.
The various applications involved are astigmatism, near-sightedness, and farsightedness that are used by end-users such as hospitals, ambulatory surgical centres, and ophthalmology clinics.
A significant driving factor for the growth of the Refractive surgery devices and equipment market is an increase in the geriatric population worldwide with eye disorders.Age-related macular degeneration is the major cause of loss of vision over the age of 65 years.
There are many elderly people with refractive errors who require immediate surgical care to cure visual impairment.The rising elderly population throughout the year increases the demand for refractive surgeries.
For example, the elderly population in USA is steadily growing and by 2030, 70 million Americans will be over 65 years of age. Approximately one in three older people have optic disorders which are boosting the refractive surgery devices and equipment market.
The Refractive surgery devices and equipment market is being restrained due to the lack of use of surgical equipment to treat refractive errors, in developing nations.Also, backwardness, poverty, and lack of knowledge make the patients unaware of the procedures of the surgery.
For example, according to WHO the visual impairment in Rwanda, an African country is 5.3% and more than 80% of the eye cases were refractive errors which were considered treatable but due to lack of ophthalmic surgical devices there is no cure. People in developing countries witness more cases related to blindness than in developed countries.
The focus areas for many companies in the refractive surgery devices and equipment market has shifted towards increasing technological advancements in the field of refractive surgery.Advanced technologies used for correcting refractive errors expand the scale of the treatment, reduce the time and labor costs.
The new corneal refractive surgical techniques such as femtosecond corneal surgery technique, pseudophakic intraocular lenses, intraocular rings and segments, and corneal stiffening techniques such as collagen crosslinking may impact the market significantly.For instance, the intrastromal femtosecond laser-assisted lenticular corneal excision (Flex-Smile) technique is very effective for myopic cases of up to 10 diopters with astigmatism up to 3.
Also, the advanced femtosecond laser surgical instruments have many unique features such as complete surgical control down to the micron in terms of diameter, depth and edge angle, fast flap creation.
In the USA, FDA (Foods and Drugs Administration) regulates the sale of medical devices and monitors the safety of all regulated medical devices. FDA regulates the sales of medical devices for refractive surgery.
The countries covered in the refractive surgery devices (or) equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The refractive surgery devices (or) equipment market research report is one of a series of new reports that provides refractive surgery devices (or) equipment market statistics, including refractive surgery devices (or) equipment industry global market size, regional shares, competitors with a refractive surgery devices (or) equipment market share, detailed refractive surgery devices (or) equipment market segments, market trends and opportunities, and any further data you may need to thrive in the refractive surgery devices (or) equipment industry. This refractive surgery devices (or) equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06277233/?utm_source=GNW
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