Ophthalmic Devices - Malta | Statista Market Forecast

The projected revenue for the Ophthalmic Devices market market in Malta is expected to reach US$4.51m in 2024.
This represents a significant growth opportunity for the country's market.
Furthermore, it is estimated that the revenue will continue to grow at an annual growth rate of 5.85% from 2024 to 2029, resulting in a market volume of US$5.99m by 2029.
When compared to other countries globally, it is worth noting that the United States is expected to generate the highest revenue in the Ophthalmic Devices market market, with a projected revenue of US$14.00bn in 2024.
This showcases the dominance of the United States in this particular market.
Malta's ophthalmic devices market is experiencing a surge in demand due to an aging population and increasing prevalence of eye disorders.

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 Malta is experiencing steady growth due to increasing customer preferences for advanced eye care solutions and the presence of local special circumstances that drive demand. Customer preferences in the Ophthalmic Devices market in Malta are shifting towards technologically advanced products that offer improved accuracy, comfort, and convenience. Customers are increasingly seeking ophthalmic devices that provide precise measurements and diagnostics, allowing for more accurate treatment and better patient outcomes. Additionally, there is a growing demand for devices that offer enhanced comfort and convenience, such as contact lenses with longer wear times and easier insertion and removal processes. These customer preferences align with global trends in the Ophthalmic Devices market, as advancements in technology continue to drive innovation and product development. The market in Malta is also influenced by local special circumstances that contribute to its development. Malta has a high prevalence of eye diseases and conditions, such as cataracts and age-related macular degeneration, which require regular monitoring and treatment. This creates a consistent demand for ophthalmic devices, including diagnostic equipment and surgical instruments, to support the diagnosis and treatment of these conditions. Furthermore, Malta has a growing elderly population, which is more prone to age-related eye conditions. This demographic factor contributes to the sustained growth of the Ophthalmic Devices market in the country. Underlying macroeconomic factors also play a role in the development of the Ophthalmic Devices market in Malta. The country's strong economic performance and increasing disposable income levels have led to higher healthcare expenditure, including spending on eye care. This allows individuals to afford advanced ophthalmic devices and treatments, driving market growth. Additionally, Malta's well-developed healthcare infrastructure and access to quality healthcare services contribute to the demand for ophthalmic devices. In conclusion, the Ophthalmic Devices market in Malta is experiencing growth due to customer preferences for advanced eye care solutions, local special circumstances that drive demand, and underlying macroeconomic factors. As customers increasingly seek technologically advanced products, the market is expected to continue expanding in the coming years.

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.