Ophthalmic Devices - Ghana | Statista Market Forecast

The Ophthalmic Devices market market in Ghana is expected to see a significant increase in revenue, reaching US$10.73m in 2024.
This growth is projected to continue at an annual growth rate of 6.43%, leading to a market volume of US$14.66m by 2029.
When compared to global figures, it is worth noting that the United States is the leading market in terms of revenue generation, with an estimated revenue of US$14.00bn in 2024.
The demand for ophthalmic devices in Ghana is steadily increasing due to the rising prevalence of eye diseases and the government's focus on improving healthcare access.

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 Ghana is experiencing significant growth and development due to various factors.

Customer preferences: Customers in Ghana are increasingly seeking high-quality ophthalmic devices to address their eye health needs. They value products that are durable, reliable, and provide accurate diagnoses and treatments. They are also looking for devices that are user-friendly and easy to operate. Additionally, customers in Ghana are becoming more aware of the importance of regular eye examinations and are willing to invest in ophthalmic devices that can help them maintain good eye health.

Trends in the market: One of the key trends in the Ophthalmic Devices market in Ghana is the increasing adoption of advanced diagnostic and surgical devices. This includes devices such as optical coherence tomography (OCT) scanners, which provide detailed images of the retina and are used for diagnosing and monitoring various eye conditions. Another trend is the growing demand for refractive surgery devices, such as femtosecond lasers, which are used for procedures like LASIK to correct vision problems. These advanced devices offer more precise and effective treatments, leading to improved patient outcomes.

Local special circumstances: Ghana has a high prevalence of eye diseases and vision problems, which is driving the demand for ophthalmic devices. Conditions such as cataracts, glaucoma, and refractive errors are common in the country. The government and various non-profit organizations are actively working to improve access to eye care services and raise awareness about the importance of regular eye examinations. This has created a favorable environment for the growth of the Ophthalmic Devices market in Ghana.

Underlying macroeconomic factors: Ghana's economy has been growing steadily in recent years, leading to an increase in disposable income among the population. This has allowed more people to afford ophthalmic devices and invest in their eye health. Additionally, the government has been investing in healthcare infrastructure and facilities, including eye care centers and hospitals. This has further contributed to the growth of the Ophthalmic Devices market in Ghana. In conclusion, the Ophthalmic Devices market in Ghana is witnessing significant growth and development due to increasing customer preferences for high-quality devices, the adoption of advanced diagnostic and surgical devices, the high prevalence of eye diseases, and the country's growing economy and investment in 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.