Ophthalmic Devices - Norway | Statista Market Forecast

In Norway, the Ophthalmic Devices market market is anticipated to witness a significant growth in revenue, with projections indicating a reach of US$135.40m by 2024.
Looking ahead, the market is expected to maintain a steady annual growth rate (CAGR 2024-2029) of 2.54%, ultimately leading to a market volume of US$153.50m by 2029.
When compared 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 amount of US$14.00bn in 2024.
Norway has seen a surge in demand for advanced ophthalmic devices, driven by the country's high healthcare standards and aging population.

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 Norway has been experiencing significant growth in recent years, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Norway have played a crucial role in the development of the Ophthalmic Devices market. With an aging population and an increasing prevalence of eye-related disorders, there is a growing demand for ophthalmic devices that can diagnose and treat these conditions. Customers in Norway are seeking advanced and innovative devices that can provide accurate and efficient results. They are also increasingly concerned about the quality and safety of the devices, leading to a preference for products from reputable and trusted manufacturers. Trends in the market have also contributed to the growth of the Ophthalmic Devices market in Norway. Technological advancements have led to the development of more sophisticated and precise devices, such as optical coherence tomography (OCT) machines and advanced surgical instruments. These devices offer improved diagnostic capabilities and better treatment outcomes, driving their adoption in the market. Additionally, there is a growing trend towards minimally invasive procedures, which require specialized ophthalmic devices. This trend is particularly evident in the field of refractive surgery, where procedures like LASIK have gained popularity. Local special circumstances in Norway have further fueled the growth of the Ophthalmic Devices market. The country has a well-developed healthcare system with a strong focus on preventive care and early detection of diseases. This has led to increased awareness and screening for eye-related disorders, resulting in higher demand for ophthalmic devices. Furthermore, Norway has a high per capita income and a strong economy, allowing individuals to afford expensive ophthalmic devices and treatments. Underlying macroeconomic factors have also played a role in the development of the Ophthalmic Devices market in Norway. The country has a stable political environment and a well-regulated healthcare system, providing a conducive business environment for manufacturers and suppliers of ophthalmic devices. Additionally, the government has implemented policies to promote research and development in the healthcare sector, leading to the introduction of new and innovative ophthalmic devices in the market. In conclusion, the Ophthalmic Devices market in Norway is experiencing growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for advanced and innovative devices, technological advancements, a focus on preventive care, and a stable business environment have all contributed to the development 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.