Ophthalmic Devices - Mexico | Statista Market Forecast

The projected revenue in the Ophthalmic Devices market market in Mexico is expected to reach US$691.70m by 2024.
It is anticipated that the revenue will show an annual growth rate (CAGR 2024-2029) of 5.37%, leading to a market volume of US$898.30m by 2029.
When compared globally, the United States is expected to generate the highest revenue, amounting to US$14.00bn in 2024.
In Mexico, the demand for ophthalmic devices is on the rise due to an aging population and increasing prevalence of eye diseases.

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 Mexico is experiencing significant growth and development. Customer preferences are shifting towards more advanced and innovative ophthalmic devices, driving the market forward. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the market. Customer preferences in the Ophthalmic Devices market in Mexico are evolving towards more advanced and innovative products. Patients are increasingly seeking ophthalmic devices that offer improved accuracy, precision, and comfort. This demand is driving manufacturers to develop and introduce new technologies that cater to these preferences. Furthermore, there is a growing awareness among customers regarding the importance of regular eye check-ups and early detection of eye diseases, which is also driving the demand for ophthalmic devices. Trends in the market indicate a strong growth trajectory for the Ophthalmic Devices market in Mexico. The market is witnessing an increasing adoption of technologically advanced devices such as optical coherence tomography (OCT) systems, advanced diagnostic devices, and advanced surgical devices. These devices offer better visualization, diagnosis, and treatment options, leading to improved patient outcomes. The market is also witnessing a rise in the demand for contact lenses and spectacle lenses, driven by the growing prevalence of vision disorders and the increasing popularity of corrective eyewear. Local special circumstances in Mexico are contributing to the development of the Ophthalmic Devices market. Mexico has a large population with a significant proportion of individuals suffering from vision disorders. This creates a substantial customer base for ophthalmic devices. Additionally, the Mexican government has been implementing initiatives to improve access to healthcare services, including eye care. This has led to an increase in the number of eye care facilities and clinics, further driving the demand for ophthalmic devices. Underlying macroeconomic factors are also playing a role in the growth of the Ophthalmic Devices market in Mexico. The country has been experiencing steady economic growth, which has led to an increase in disposable income among the population. As a result, individuals are more willing to spend on healthcare services, including eye care. Furthermore, the aging population in Mexico is contributing to the demand for ophthalmic devices, as age-related eye conditions become more prevalent. In conclusion, the Ophthalmic Devices market in Mexico is developing rapidly due to shifting customer preferences towards advanced and innovative devices, local special circumstances that create a large customer base, and underlying macroeconomic factors such as economic growth and an aging population. The market is witnessing a rise in the adoption of technologically advanced devices and an increased demand for corrective eyewear. These trends are expected to continue driving the growth of the market 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.