Ophthalmic Devices - Egypt | Statista Market Forecast

The Ophthalmic Devices market market in Egypt is anticipated to achieve a revenue of US$90.62m by the year 2024.
It is expected that the revenue will exhibit a compound annual growth rate (CAGR 2024-2029) of 11.09%, leading to a market volume of US$153.30m by the year 2029.
When compared globally, the United States is projected to generate the highest revenue of US$14.00bn in 2024.
Egypt's ophthalmic devices market is experiencing significant growth due to increasing healthcare investments and a rising prevalence of eye disorders in the country.

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 Egypt is experiencing significant growth due to customer preferences for advanced technologies, increasing prevalence of eye disorders, and favorable local special circumstances. Customer preferences in Egypt are shifting towards more advanced and innovative ophthalmic devices. Patients are increasingly seeking high-quality and efficient eye care solutions, leading to a growing demand for devices such as optical coherence tomography (OCT) machines, phacoemulsification systems, and femtosecond lasers. These advanced technologies offer improved diagnostic accuracy, precision, and faster recovery times, which are highly valued by patients. Additionally, there is a growing demand for contact lenses and spectacle lenses, driven by the increasing prevalence of refractive errors and the desire for vision correction. The market is also witnessing several trends that are contributing to its growth. One of the key trends is the rising prevalence of eye disorders in Egypt. Factors such as an aging population, changing lifestyles, and increased exposure to digital screens are leading to a higher incidence of conditions like cataracts, glaucoma, and age-related macular degeneration. This has resulted in a greater need for ophthalmic devices for diagnosis, treatment, and management of these conditions. Another trend in the market is the increasing adoption of teleophthalmology. This technology allows remote diagnosis and monitoring of eye conditions, especially in rural areas where access to specialized eye care is limited. Teleophthalmology enables healthcare providers to reach a larger population and provide timely and efficient eye care services. This trend is particularly relevant in Egypt, where there is a need to bridge the gap between urban and rural healthcare facilities. Local special circumstances in Egypt are also contributing to the growth of the Ophthalmic Devices market. The government has been actively promoting healthcare infrastructure development and improving access to eye care services. Initiatives such as the National Blindness Control Program and the establishment of specialized eye care centers have increased awareness about eye health and encouraged people to seek professional help. Furthermore, the presence of a large number of ophthalmic clinics and hospitals in urban areas provides a conducive environment for the adoption of advanced ophthalmic devices. Underlying macroeconomic factors in Egypt, such as a growing economy and increasing healthcare expenditure, are also driving the growth of the Ophthalmic Devices market. The country's economic growth has led to higher disposable incomes, enabling individuals to afford advanced eye care solutions. Additionally, the government's focus on improving healthcare infrastructure and services has resulted in increased funding for the healthcare sector, including ophthalmic devices. In conclusion, the Ophthalmic Devices market in Egypt is witnessing significant growth due to customer preferences for advanced technologies, increasing prevalence of eye disorders, favorable local special circumstances, and underlying macroeconomic factors. The market is expected to continue expanding as the demand for innovative and efficient eye care solutions rises.

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.