Market Insights Health Medical Technology Medical Devices

Ophthalmic Devices - Japan

Japan

The projected revenue for the Ophthalmic Devices market market in Japan is expected to reach €2.18bn in 2024.
This represents a significant market size in the country.
Furthermore, it is estimated that the revenue will experience an annual growth rate of 5.58% between 2024 and 2029.
As a result, the market volume is projected to reach €2.86bn by 2029.
It is worth mentioning that in a global comparison, the United States is expected to generate the highest revenue in the Ophthalmic Devices market market, with an estimated revenue of €12,980.00m in 2024.
This highlights the dominance of the United States in this market.
Japan's advanced technology and aging population have led to a high demand for innovative ophthalmic devices in the medical technology market.

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

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Analyst Opinion

The Ophthalmic Devices market in Japan is experiencing significant growth due to a variety of factors. Customer preferences for advanced technology and high-quality products are driving the demand for ophthalmic devices in the country. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the development of the market. Customer preferences in Japan are influenced by the country's aging population and the increasing prevalence of eye-related diseases and conditions. As the population ages, the demand for ophthalmic devices such as contact lenses, spectacles, and surgical instruments is rising. Japanese consumers prioritize products that offer comfort, durability, and innovative features to address their specific eye care needs. Trends in the market indicate a shift towards technologically advanced ophthalmic devices. Japanese consumers are increasingly opting for contact lenses with advanced features such as UV protection, moisture retention, and enhanced oxygen permeability. This trend is driven by the desire for convenience and improved eye health. Additionally, there is a growing demand for surgical instruments and equipment used in ophthalmic surgeries, including cataract and refractive surgeries. The adoption of advanced surgical techniques and equipment is improving patient outcomes and driving the growth of the market. Local special circumstances in Japan, such as the presence of leading ophthalmic device manufacturers and a strong healthcare infrastructure, contribute to the development of the market. Japan is home to several renowned ophthalmic device manufacturers that have a strong presence in the domestic market. These companies invest in research and development to introduce innovative products that cater to the specific needs of Japanese consumers. Furthermore, the country's well-established healthcare system ensures accessibility to ophthalmic devices and services, supporting the growth of the market. Underlying macroeconomic factors also play a role in the development of the Ophthalmic Devices market in Japan. The country's stable economy and high disposable income levels enable consumers to afford premium ophthalmic devices. Additionally, government initiatives to promote healthcare and improve access to medical services contribute to the growth of the market. The Japanese government's focus on preventive healthcare and the provision of universal health coverage create a favorable environment for the adoption of ophthalmic devices. In conclusion, the Ophthalmic Devices market in Japan is experiencing growth due to customer preferences for advanced technology and high-quality products, along with local special circumstances and underlying macroeconomic factors. The market is witnessing a shift towards technologically advanced devices, driven by an aging population and the increasing prevalence of eye-related conditions. The presence of leading manufacturers and a strong healthcare infrastructure further support the growth of the 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.