The Latin America, Middle East and Africa Refractive Surgery Devices Market would witness market growth of 10.5% CAGR during the forecast period (2021-2027).
The common treatment which is used to improve or correct vision problems is Refractive surgery. It helps in eliminating or decreasing the dependency on eyeglasses and contact lenses. Several surgical treatments such as remodeling the cornea, lens implantation, or round dome at the front of the eye, are used to correct or improve the refractive state of the eye. The equipment used while performing these surgeries is known as refractive surgery equipment.
In the emerging nations, this market is lacking behind and has been limited, owing to the lesser number of skilled people who are well-trained in the proper use of surgical devices for correcting refractive errors. In addition, the population in these nations is witnessing poverty, backwardness, and lack of awareness due to which patients are not aware of the treatments and surgeries. For instance, WHO stated that more than 80% population in Rwanda, an African country, is suffering from the problem of incorrect refractive errors. This can be cured but people in that region are not highly aware and also, there is a lack of ophthalmic surgical devices. In comparison with developed nations, the population of developing nations is having a greater number of cases related to blindness.
The increasing usage of digital devices like computers, laptops, and smartphones is one of the major issues behind the growing cases of eye-related problems in this region, which is expected to accelerate the demand for refractive surgery devices. In addition, the growing adoption of various advanced medical devices is also supporting the regional refractive surgery devices market forward.
Moreover, the growing aging population in this region who are more prone to eye-related diseases like Glaucoma is among the key aspects boosting the adoption of automated visual field analyzers in this region. However, the high cost of automated visual field analyzers may restrict various hospitals and medical centers to use this device, which may possess a challenge to the regional market growth in the coming years.
The Hospitals market dominated the South Africa Refractive Surgery Devices Market by End Use in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,678.1 Thousands by 2027. The Ophthalmology Clinics market is expected to witness a CAGR of 11.5% during (2021 - 2027).
Based on Application, the market is segmented into Astigmatism, Myopia, Hyperopia, Presbyopia, and Dry eyes. Based on Product, the market is segmented into Lasers, Microkeratome, Aberrometers and Other Products. Based on End Use, the market is segmented into Ophthalmology Clinics, Hospitals and Ambulatory surgery centers. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Refractive Surgery Devices Market is Predict to reach $331.5 million by 2027, at a CAGR of 9.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Carl Zeiss Meditec AG, Topcon Corporation, Novartis AG, Glaukos Corporation, Johnson & Johnson, Essilorluxottica SA, Bausch Health Companies, Inc., SCHWIND Eye-Tech-Solutions GmbH, NIDEK CO., LTD., and Quantel Medical (Lumibird Group).
By Application
By Product
By End Use
By Country
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