Market Insights Health Medical Technology Medical Devices

Ophthalmic Devices - Asia

Asia

The projected revenue in the Ophthalmic Devices market market in Asia is estimated to reach €10.67bn by 2024.
This market, which focuses on Ophthalmic Devices market, is expected to exhibit an annual growth rate (CAGR 2024-2029) of 7.06%.
As a result, the market volume is anticipated to reach €15.01bn by 2029.
In terms of global comparison, the United States is predicted to generate the highest revenue in this market, with €12,980.00m expected in 2024.
In Japan, the ophthalmic devices market is thriving due to a growing elderly population and increasing prevalence of eye diseases.

Key regions: Germany, Italy, France, Japan, United Kingdom

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Ophthalmic Devices market in Asia is experiencing significant growth due to a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Asian market are driving the demand for ophthalmic devices. With an aging population and an increasing prevalence of eye diseases such as cataracts and glaucoma, there is a growing need for advanced ophthalmic devices that can diagnose and treat these conditions. Additionally, customers in Asia are becoming more aware of the importance of regular eye check-ups and are seeking out ophthalmic devices that can provide accurate and efficient diagnosis. Trends in the market are also contributing to the growth of the Ophthalmic Devices market in Asia. Advancements in technology have led to the development of innovative ophthalmic devices that offer improved accuracy, efficiency, and patient comfort. For example, the introduction of laser-assisted cataract surgery has revolutionized the way cataracts are treated, providing faster recovery times and better visual outcomes for patients. Similarly, the use of optical coherence tomography (OCT) has become increasingly common in diagnosing and managing various eye conditions, further driving the demand for ophthalmic devices. Local special circumstances in Asia are influencing the growth of the Ophthalmic Devices market. In countries like China and India, there is a large population with limited access to quality eye care services. This has created a significant demand for affordable ophthalmic devices that can be used in primary healthcare settings. Additionally, the rise of medical tourism in countries like Thailand and South Korea has led to an increase in demand for state-of-the-art ophthalmic devices from international patients seeking high-quality eye care at a lower cost. Underlying macroeconomic factors are also playing a role in the development of the Ophthalmic Devices market in Asia. Economic growth in countries like China and India has led to an increase in disposable income, allowing more individuals to afford ophthalmic devices and eye care services. Additionally, government initiatives to improve healthcare infrastructure and increase healthcare spending have further fueled the growth of the market. In conclusion, the Ophthalmic Devices market in Asia is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As the demand for advanced ophthalmic devices continues to rise, manufacturers and suppliers in the region have a great opportunity to capitalize on this growing market.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.