Ophthalmic Devices - Africa | Statista Market Forecast

The Ophthalmic Devices market market in Africa is anticipated to achieve a revenue of US$787.60m in 2024.
This market is projected to experience a steady annual growth rate (CAGR 2024-2029) of 6.50%, ultimately leading to a market volume of US$1.08bn by 2029.
In terms of global comparison, the United States is expected to generate the highest revenue, reaching US$14.00bn in 2024.
In Africa, there is a growing demand for advanced ophthalmic devices to address the high prevalence of eye diseases and limited access to eye care services.

Definition:
Ophthalmic devices refer to medical devices used for diagnosis of eye diseases, related surgeries, and vision correction.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Essilor International, Johnson & Johnson, Bausch Health Companies. Further information on the key players can be found in the Market Shares boxes.

Ophthalmology diagnostic & surgical devices
Vision care

Ophthalmology pharmaceuticals
Ophthalmology supplements

The Ophthalmic Devices market in Africa is experiencing significant growth and development due to several factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the expansion of this industry. Customer preferences in Africa are shifting towards a greater demand for ophthalmic devices. As the population grows and becomes more aware of the importance of eye health, there is an increasing need for vision correction and eye care solutions. This has led to a higher demand for ophthalmic devices such as spectacles, contact lenses, and surgical instruments. Trends in the market also play a crucial role in the development of the Ophthalmic Devices industry. Technological advancements have made ophthalmic devices more accessible and affordable, leading to a wider adoption of these products. Additionally, there has been a growing trend towards personalized and customized eye care solutions, which has further fueled the demand for ophthalmic devices. Local special circumstances in Africa contribute to the growth of the Ophthalmic Devices market. The prevalence of eye diseases and vision impairments in the region creates a significant need for ophthalmic devices. Additionally, the lack of access to quality eye care services in many parts of Africa has led to an increased reliance on ophthalmic devices for vision correction and treatment. Underlying macroeconomic factors also play a role in the development of the Ophthalmic Devices market in Africa. Economic growth and increasing disposable incomes have made eye care more affordable for a larger portion of the population. As a result, more people are able to afford ophthalmic devices, driving the demand for these products. In conclusion, the Ophthalmic Devices market in Africa is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for ophthalmic devices, technological advancements, prevalence of eye diseases, and economic growth all contribute to the expansion of this industry in Africa.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.