Ophthalmic Devices - Bahrain | Statista Market Forecast

The Ophthalmic Devices market market in Bahrain is set to achieve a projected revenue of US$16.03m in 2024.
Looking ahead, it is anticipated that the revenue will experience a compound annual growth rate (CAGR 2024-2029) of 6.11%, leading to a market volume of US$21.57m by 2029.
When comparing globally, the United States will generate the highest revenue, amounting to US$14.00bn in 2024.
In Bahrain, the demand for ophthalmic devices is on the rise, driven by the country's growing healthcare infrastructure and increasing prevalence of eye-related 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 Bahrain is experiencing steady growth due to increasing customer preferences for advanced eye care solutions and the rising prevalence of eye disorders. Customer preferences in the Ophthalmic Devices market in Bahrain are shifting towards technologically advanced and innovative products. Patients are increasingly seeking ophthalmic devices that offer improved accuracy, efficiency, and comfort. This demand is driving manufacturers to develop cutting-edge products such as advanced diagnostic devices, surgical instruments, and contact lenses. Additionally, there is a growing preference for minimally invasive procedures and non-surgical treatment options, which is further fueling the demand for ophthalmic devices that cater to these needs. The market is also witnessing a rise in the prevalence of eye disorders, including cataracts, glaucoma, and refractive errors, among the population in Bahrain. This increase can be attributed to factors such as an aging population, changing lifestyles, and the high prevalence of chronic diseases such as diabetes. As a result, there is a higher demand for ophthalmic devices that aid in the diagnosis, treatment, and management of these conditions. In terms of trends in the market, there is a growing adoption of advanced diagnostic devices such as optical coherence tomography (OCT) and fundus cameras. These devices provide detailed and accurate imaging of the eye, enabling early detection and diagnosis of various eye conditions. Additionally, there is an increasing demand for refractive surgery devices, including LASIK and PRK systems, as more individuals seek permanent vision correction solutions. Contact lenses, both corrective and cosmetic, are also gaining popularity among the younger population. Local special circumstances in Bahrain, such as the presence of a well-developed healthcare infrastructure and a high level of healthcare expenditure, contribute to the growth of the Ophthalmic Devices market. The country has a robust network of hospitals, clinics, and ophthalmic centers that provide comprehensive eye care services. This accessibility to healthcare facilities ensures that individuals have easy access to ophthalmic devices and treatments. Moreover, the government of Bahrain has implemented various initiatives to promote eye health awareness and provide affordable eye care services to its population. Underlying macroeconomic factors, such as a growing economy, increasing disposable income, and a favorable regulatory environment, also play a significant role in the development of the Ophthalmic Devices market in Bahrain. As the economy continues to grow, individuals have more purchasing power, allowing them to invest in high-quality eye care solutions. Furthermore, the government's supportive policies and regulations create a conducive environment for the entry and growth of international ophthalmic device manufacturers in the market. Overall, the Ophthalmic Devices market in Bahrain is witnessing growth due to customer preferences for advanced eye care solutions, the rising prevalence of eye disorders, and favorable market conditions. With the increasing adoption of innovative devices and the availability of comprehensive eye care services, the market is expected to continue its upward trajectory in the coming years.

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.