Ophthalmic Devices - Gambia | Statista Market Forecast

The Ophthalmic Devices market market in Gambia is expected to witness a significant growth in revenue, reaching US$286.70k by the year 2024.
Furthermore, it is projected to experience a steady annual growth rate (CAGR 2024-2029) of 6.23%, leading to a market volume of US$387.70k by 2029.
In a global perspective, the United States is anticipated to generate the highest revenue in the Ophthalmic Devices market market, with a staggering US$14.00bn in 2024.
Gambia's ophthalmic devices market is witnessing a surge in demand due to the increasing prevalence of eye diseases 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 Gambia is witnessing significant growth and development due to several factors.

Customer preferences: Customers in the Ophthalmic Devices market in Gambia are increasingly demanding high-quality and technologically advanced products. They are seeking devices that offer improved accuracy, precision, and comfort. Additionally, there is a growing preference for devices that are easy to use and maintain. Customers are also showing interest in devices that are cost-effective and provide long-term value for money.

Trends in the market: One of the key trends in the Ophthalmic Devices market in Gambia is the increasing adoption of advanced diagnostic devices. These devices help in the early detection and diagnosis of various eye conditions, leading to timely treatment and better patient outcomes. There is also a growing demand for surgical devices that enable minimally invasive procedures, reducing the risk of complications and improving patient comfort. Furthermore, there is a rising trend of integrating digital technologies into ophthalmic devices, such as telemedicine solutions and remote monitoring systems, which allow for more efficient and convenient healthcare delivery.

Local special circumstances: Gambia, being a developing country, faces certain unique challenges in the Ophthalmic Devices market. Limited access to healthcare facilities and trained ophthalmologists is a major concern. This has led to a growing need for portable and user-friendly devices that can be used in remote areas. Additionally, affordability is a key consideration for customers in Gambia, and there is a demand for cost-effective devices that provide reliable results. The government and healthcare organizations are also taking initiatives to raise awareness about eye health and provide access to quality eye care services, which is driving the demand for ophthalmic devices.

Underlying macroeconomic factors: The Ophthalmic Devices market in Gambia is influenced by various macroeconomic factors. The country's economic growth and increasing disposable income levels are contributing to the rising demand for healthcare services, including ophthalmic devices. Additionally, the growing aging population and the prevalence of eye diseases, such as cataracts and glaucoma, are driving the need for ophthalmic devices. Moreover, the government's focus on improving healthcare infrastructure and providing universal healthcare coverage is creating opportunities for the growth of the Ophthalmic Devices market in Gambia. In conclusion, the Ophthalmic Devices market in Gambia is witnessing significant growth and development due to customer preferences for high-quality and technologically advanced products, the increasing adoption of advanced diagnostic and surgical devices, unique local circumstances such as limited access to healthcare facilities and affordability concerns, and underlying macroeconomic factors such as economic growth, increasing disposable income levels, and government initiatives to improve healthcare infrastructure.

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.