Market Insights Health Medical Technology Medical Devices

Ophthalmic Devices - Finland

Finland

The Ophthalmic Devices market market in Finland is expected to see a significant growth in revenue, reaching US$77.45m by 2024.
This projection indicates a positive trend for the market in the country.
Furthermore, it is anticipated that the market will continue to expand at an annual growth rate of 3.66% from 2024 to 2029, resulting in a market volume of US$92.69m by the end of the forecast period.
However, when comparing in Finland's market to the global market, it is noteworthy that the United States is projected to generate the highest revenue in the Ophthalmic Devices market market, with an estimated revenue of US$14,000.00m in 2024.
This demonstrates the dominance of the US market in this industry on a global scale.
Finland's ophthalmic devices market is driven by advanced healthcare infrastructure and high adoption of innovative technologies.

Key regions: Germany, Italy, France, Japan, United Kingdom

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Analyst Opinion

The Ophthalmic Devices market in Finland is experiencing steady growth due to several factors.

Customer preferences: Customers in Finland have shown a strong preference for technologically advanced ophthalmic devices. They are willing to invest in high-quality products that offer accurate and reliable results. Additionally, there is a growing demand for devices that are user-friendly and easy to operate. Customers also value products that are durable and require minimal maintenance.

Trends in the market: One of the key trends in the Ophthalmic Devices market in Finland is the increasing adoption of digital imaging technology. Digital imaging devices such as optical coherence tomography (OCT) and fundus cameras are being widely used for the diagnosis and monitoring of various eye conditions. These devices provide high-resolution images, allowing healthcare professionals to make more accurate diagnoses and treatment plans. Another trend in the market is the growing demand for refractive surgery devices. Finland has a high prevalence of myopia and astigmatism, leading to an increased demand for procedures such as LASIK and PRK. The advancements in refractive surgery devices have made these procedures safer and more effective, attracting more customers.

Local special circumstances: Finland has a well-developed healthcare system with a high standard of care. The government provides universal healthcare coverage, ensuring that all citizens have access to ophthalmic services and devices. This has created a favorable environment for the growth of the Ophthalmic Devices market. Furthermore, Finland has a rapidly aging population, which is contributing to the growth of the market. As people age, the risk of developing eye conditions such as cataracts and age-related macular degeneration increases. This has led to an increased demand for ophthalmic devices for the diagnosis and treatment of these conditions.

Underlying macroeconomic factors: The strong economy in Finland has played a significant role in the growth of the Ophthalmic Devices market. The country has a high GDP per capita and a low unemployment rate, which has increased the purchasing power of consumers. As a result, more people are able to afford ophthalmic devices and seek proper eye care. Additionally, Finland has a well-developed research and development sector, which has contributed to the innovation and advancement of ophthalmic devices. The presence of leading ophthalmic device manufacturers and research institutions in the country has further fueled the growth of the market. In conclusion, the Ophthalmic Devices market in Finland is experiencing steady growth due to the preferences of customers for technologically advanced devices, the adoption of digital imaging technology, and the increasing demand for refractive surgery devices. The local special circumstances, such as the well-developed healthcare system and the aging population, have also contributed to the growth of the market. The strong economy and the presence of a robust research and development sector have further supported the market's growth.

Methodology

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.