Ophthalmic Devices - Czechia | Statista Market Forecast

The projected revenue in the Ophthalmic Devices market market in Czechia is estimated to reach US$145.50m in 2024.
It is expected to display an annual growth rate (CAGR 2024-2029) of 4.40%.
Consequently, it is anticipated that the market volume will reach US$180.50m by 2029.
When compared globally, the United States is projected to generate the highest revenue of US$14.00bn in 2024.
Czechia's ophthalmic devices market is witnessing a surge in demand for advanced diagnostic equipment and cutting-edge surgical technologies.

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 Czechia 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 Czechia are shifting towards technologically advanced and minimally invasive treatment options. Patients are seeking devices that offer improved accuracy, precision, and safety during eye surgeries and treatments. This preference is driving the demand for innovative ophthalmic devices such as laser systems, optical coherence tomography (OCT) devices, and advanced diagnostic equipment. Additionally, there is a growing demand for contact lenses and spectacle lenses that offer enhanced comfort and visual acuity. The market is witnessing several trends that are contributing to its growth. One of the key trends is the increasing adoption of refractive surgeries such as LASIK (laser-assisted in situ keratomileusis) and SMILE (small incision lenticule extraction) for vision correction. These procedures are gaining popularity due to their high success rates, quick recovery times, and minimal post-operative complications. The demand for refractive surgeries is further fueled by the growing awareness about the benefits of vision correction procedures and the availability of advanced laser systems. Another trend in the market is the rising prevalence of eye disorders such as cataract, glaucoma, and age-related macular degeneration (AMD). The aging population in Czechia is more prone to these conditions, leading to an increased demand for ophthalmic devices for diagnosis, treatment, and management of these disorders. Additionally, the growing awareness about the importance of regular eye examinations for early detection and prevention of eye diseases is driving the demand for diagnostic devices such as OCT and fundus cameras. Local special circumstances in Czechia also contribute to the growth of the Ophthalmic Devices market. The country has a well-developed healthcare infrastructure and a high standard of healthcare services, which facilitates the adoption of advanced ophthalmic devices. Moreover, the government has implemented favorable policies to promote the use of ophthalmic devices and ensure accessibility to quality eye care services for all citizens. These factors create a conducive environment for the growth of the market. Underlying macroeconomic factors, such as the steady economic growth, increasing disposable income, and favorable reimbursement policies, also play a significant role in driving the growth of the Ophthalmic Devices market in Czechia. The improving economic conditions enable individuals to afford advanced eye care treatments and devices. Additionally, the availability of reimbursement for certain ophthalmic procedures and devices reduces the financial burden on patients, further boosting the market growth. Overall, the Ophthalmic Devices market in Czechia is witnessing steady growth due to customer preferences for advanced eye care solutions, the rising prevalence of eye disorders, and favorable local circumstances and macroeconomic factors. The market is expected to continue expanding as technological advancements and innovations in ophthalmic devices cater to the evolving needs of patients and healthcare providers.

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.