Ophthalmic Devices - Belgium | Statista Market Forecast

in Belgium, a country known for its contributions to the field of Ophthalmic Devices market, is expected to witness a significant increase in revenue within this market.
According to projections, the revenue in the Ophthalmic Devices market market in Belgium is estimated to reach a substantial figure of US$273.90m in the year 2024.
Looking ahead, the market is anticipated to display a steady annual growth rate (CAGR 2024-2029) of 3.29%, which would result in a market volume of US$322.00m by the year 2029.
When comparing the global landscape, it is worth noting that the United States is expected to generate the highest revenue in this market.
In 2024, the revenue generated by the United States alone is projected to reach an impressive US$14.00bn.
This showcases the dominance of the US market in terms of revenue generation in the Ophthalmic Devices market industry.
Belgium's ophthalmic devices market is experiencing a surge in demand due to the country's aging population and increasing prevalence of eye disorders.

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 Belgium is experiencing steady growth due to several factors such as increasing customer preferences for advanced eye care solutions, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Ophthalmic Devices market in Belgium are shifting towards more advanced and innovative eye care solutions. Customers are increasingly seeking devices that offer improved accuracy, precision, and comfort. This is driving the demand for technologically advanced ophthalmic devices such as optical coherence tomography (OCT) machines, phacoemulsification systems, and advanced diagnostic devices. Additionally, there is a growing preference for devices that are user-friendly and can be easily integrated into existing healthcare systems. Trends in the Ophthalmic Devices market in Belgium are aligned with global trends in the industry. One of the key trends is the increasing adoption of teleophthalmology, which allows remote diagnosis and monitoring of eye conditions. This trend is driven by the need for improved access to eye care services, especially in rural areas where there is a shortage of ophthalmologists. Teleophthalmology enables healthcare providers to reach a larger patient population and provide timely diagnosis and treatment. Another trend is the growing demand for minimally invasive surgical procedures, which offer faster recovery times and reduced post-operative complications. This has led to the development of advanced surgical devices such as microkeratomes and femtosecond lasers. Local special circumstances in Belgium also contribute to the growth of the Ophthalmic Devices market. Belgium has a well-developed healthcare system with a strong emphasis on quality and patient safety. The country has a high standard of healthcare infrastructure and a skilled workforce, which supports the adoption of advanced ophthalmic devices. Additionally, Belgium has a high prevalence of age-related eye diseases such as cataract and macular degeneration, which drives the demand for ophthalmic devices for diagnosis and treatment. Underlying macroeconomic factors further fuel the growth of the Ophthalmic Devices market in Belgium. The country has a stable economy with a high level of disposable income, which enables individuals to invest in their eye health. Additionally, the government provides subsidies and reimbursement schemes for ophthalmic devices, making them more affordable and accessible to patients. The presence of a strong healthcare insurance system also contributes to the demand for ophthalmic devices. In conclusion, the Ophthalmic Devices market in Belgium is experiencing growth due to increasing customer preferences for advanced eye care solutions, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The adoption of technologically advanced devices, the shift towards teleophthalmology, and the demand for minimally invasive surgical procedures are driving the market growth. The well-developed healthcare system, high prevalence of age-related eye diseases, stable economy, and government support further contribute to 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.