Ophthalmic Devices - Argentina | Statista Market Forecast

The projected revenue in the Ophthalmic Devices market market in Argentina is estimated to reach US$500.50m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 4.77%, leading to a market volume of US$631.90m by 2029.
When compared globally, the United States is anticipated to generate the highest revenue, amounting to US$14.00bn in 2024.
Argentina's ophthalmic devices market is witnessing a surge in demand due to an aging population and increasing prevalence of eye diseases.

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 Argentina is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Argentina are driving the demand for Ophthalmic Devices. As the population ages, there is a growing need for vision correction and eye care. Additionally, there is a rising awareness of the importance of regular eye exams and early detection of eye diseases. This has led to an increased demand for Ophthalmic Devices such as contact lenses, eyeglasses, and surgical instruments. Trends in the market are also contributing to the growth of the Ophthalmic Devices market in Argentina. Technological advancements in the field of ophthalmology have led to the development of innovative devices that offer improved precision and accuracy in diagnosing and treating eye conditions. For example, the introduction of advanced imaging techniques and laser technology has revolutionized the field of refractive surgery. These trends have fueled the demand for Ophthalmic Devices in Argentina. Local special circumstances in Argentina are also playing a role in the growth of the Ophthalmic Devices market. The country has a large population with a high prevalence of eye diseases such as cataracts, glaucoma, and macular degeneration. This has created a significant market for Ophthalmic Devices as patients seek treatment and management options for their eye conditions. Additionally, the government in Argentina has implemented healthcare reforms that aim to improve access to healthcare services, including eye care. This has further increased the demand for Ophthalmic Devices. Underlying macroeconomic factors are also contributing to the growth of the Ophthalmic Devices market in Argentina. The country has experienced economic growth in recent years, leading to an increase in disposable income and healthcare spending. As a result, more individuals are able to afford Ophthalmic Devices and seek eye care services. Furthermore, the government has implemented policies to promote the development of the healthcare sector, including the ophthalmology industry. This has attracted investment and encouraged the growth of the Ophthalmic Devices market. In conclusion, the Ophthalmic Devices market in Argentina is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for Ophthalmic Devices is driven by the aging population, increasing awareness of eye care, and technological advancements in the field of ophthalmology. Additionally, the high prevalence of eye diseases, healthcare reforms, economic growth, and government support have further fueled the growth of the market.

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.