Ophthalmic Devices - Morocco | Statista Market Forecast

The Ophthalmic Devices market market in Morocco is anticipated to achieve a revenue of US$54.43m in 2024.
It is projected to exhibit a compound annual growth rate (CAGR 2024-2029) of 6.89%, leading to a market volume of US$75.94m by 2029.
When compared globally, the United States is expected to generate the highest revenue of US$14.00bn in 2024.
Morocco's ophthalmic device market is witnessing a surge in demand for advanced diagnostic tools and innovative surgical equipment.

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 Morocco is experiencing significant growth due to increasing customer preferences for advanced eye care solutions, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Morocco are increasingly seeking advanced eye care solutions to address various vision-related issues. With a growing awareness of eye health and the importance of regular eye check-ups, there is a rising demand for ophthalmic devices such as diagnostic equipment, surgical instruments, and vision correction devices. Customers are also looking for technologically advanced devices that offer accurate diagnosis and effective treatment options.

Trends in the market: One of the key trends in the Ophthalmic Devices market in Morocco is the adoption of innovative technologies. Advanced diagnostic equipment, such as optical coherence tomography (OCT) and retinal imaging systems, are gaining popularity among healthcare professionals for their ability to provide detailed and precise images of the eye. Additionally, there is a growing demand for minimally invasive surgical instruments and procedures, which offer faster recovery times and better patient outcomes. Another trend in the market is the increasing availability of affordable eye care solutions. The government and private healthcare providers in Morocco are making efforts to improve access to eye care services, especially in rural areas. This includes setting up eye care clinics, mobile eye care units, and providing subsidies for ophthalmic devices. These initiatives are driving the demand for ophthalmic devices and making them more accessible to a larger population.

Local special circumstances: Morocco has a growing elderly population, which is more prone to age-related eye diseases such as cataracts and macular degeneration. This demographic factor is contributing to the increased demand for ophthalmic devices, as these conditions often require surgical intervention or vision correction devices. Furthermore, Morocco is a popular medical tourism destination for patients seeking affordable healthcare services. The country offers high-quality medical facilities and skilled healthcare professionals at relatively lower costs compared to other countries. This has led to an influx of patients seeking eye care treatments, further driving the demand for ophthalmic devices.

Underlying macroeconomic factors: Morocco has been experiencing steady economic growth, which has resulted in an increase in disposable income and improved healthcare infrastructure. As a result, more individuals are able to afford eye care services and invest in ophthalmic devices. Additionally, the government's focus on healthcare development and the implementation of universal health coverage policies have further supported the growth of the Ophthalmic Devices market in Morocco. In conclusion, the Ophthalmic Devices market in Morocco is witnessing significant growth due to increasing customer preferences for advanced eye care solutions, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The adoption of innovative technologies, the availability of affordable eye care solutions, the growing elderly population, and the country's status as a medical tourism destination are all contributing to the expansion of the market.

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.