Ophthalmic Devices - Indonesia | Statista Market Forecast

The Ophthalmic Devices market market in Indonesia is forecasted to achieve a revenue of US$179.30m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 7.58%, leading to a market volume of US$258.40m by 2029.
When compared globally, the United States is expected to generate the highest revenue, reaching US$14.00bn in 2024.
Indonesia's growing middle class and increasing access to healthcare are driving demand for advanced ophthalmic devices 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 Indonesia is experiencing steady growth due to several key factors.

Customer preferences: In Indonesia, there is a growing demand for ophthalmic devices as the population becomes more aware of the importance of eye health. With a rising middle class and increasing disposable income, more people are able to afford ophthalmic devices such as glasses, contact lenses, and surgical instruments. Additionally, the prevalence of eye conditions such as myopia and cataracts is increasing, further driving the demand for ophthalmic devices.

Trends in the market: One of the major trends in the Indonesian Ophthalmic Devices market is the shift towards advanced technology. Customers are increasingly opting for innovative ophthalmic devices that offer improved accuracy, comfort, and convenience. For example, there is a growing demand for smart glasses that can monitor eye health and provide real-time data. Similarly, there is an increasing preference for contact lenses with advanced features such as UV protection and moisture retention. Another trend in the market is the rise of online sales channels. With the increasing penetration of smartphones and internet connectivity, more customers are opting to purchase ophthalmic devices online. Online platforms offer a wider range of products, competitive pricing, and the convenience of doorstep delivery. This trend is particularly popular among the younger generation who are tech-savvy and prefer the ease of online shopping.

Local special circumstances: Indonesia is an archipelago with a large population spread across different islands. This geographical dispersion poses unique challenges for the distribution of ophthalmic devices. Companies operating in the market need to establish an efficient supply chain network to ensure timely delivery of products to customers in remote areas. Additionally, cultural factors and language diversity need to be considered when marketing and promoting ophthalmic devices in Indonesia.

Underlying macroeconomic factors: The Indonesian economy has been growing steadily in recent years, which has contributed to the growth of the Ophthalmic Devices market. Increasing urbanization, rising per capita income, and improving healthcare infrastructure are key macroeconomic factors driving the demand for ophthalmic devices. Additionally, government initiatives to improve access to healthcare services and increase healthcare expenditure are further fueling the growth of the market. In conclusion, the Ophthalmic Devices market in Indonesia is witnessing growth due to increasing customer awareness, shifting preferences towards advanced technology, the rise of online sales channels, unique local circumstances, and favorable macroeconomic factors. Companies operating in this market need to adapt to these trends and leverage the opportunities presented by the growing demand for ophthalmic devices in Indonesia.

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.