Ophthalmic Devices - Pakistan | Statista Market Forecast

Pakistan's Ophthalmic Devices market market is forecasted to achieve a revenue of US$38.36m by 2024.
With an anticipated annual growth rate (CAGR 2024-2029) of 6.52%, the market volume is expected to reach US$52.60m by 2029.
In terms of global comparison, the United States is projected to generate the highest revenue, amounting to US$14.00bn in 2024.
Pakistan's ophthalmic devices market is experiencing steady growth due to an increasing prevalence of eye diseases and a rising demand for advanced eye care technologies.

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 Pakistan is experiencing significant growth and development.

Customer preferences: Customers in Pakistan have shown a growing preference for technologically advanced ophthalmic devices. They are increasingly seeking devices that offer higher precision, accuracy, and efficiency in diagnosing and treating eye conditions. This preference is driven by the desire for better healthcare outcomes and improved patient experiences. Additionally, customers are also looking for ophthalmic devices that are cost-effective and easily accessible.

Trends in the market: One of the key trends in the Ophthalmic Devices market in Pakistan is the increasing adoption of telemedicine and remote monitoring solutions. This trend has been accelerated by the COVID-19 pandemic, which has limited in-person visits to healthcare facilities. Telemedicine allows patients to receive eye care consultations and follow-ups remotely, reducing the need for physical visits and ensuring continuity of care. This trend is expected to continue in the future as it offers convenience and accessibility to patients, particularly those in remote areas. Another trend in the market is the rising demand for refractive surgery procedures, such as LASIK (laser-assisted in situ keratomileusis). Refractive surgeries are becoming more popular among individuals seeking to correct their vision and reduce dependence on glasses or contact lenses. The advancements in laser technology and surgical techniques have made these procedures safer and more effective. As a result, there is a growing demand for ophthalmic devices used in refractive surgeries, such as excimer lasers and femtosecond lasers.

Local special circumstances: Pakistan has a large population with a significant burden of eye diseases and vision impairments. This creates a strong demand for ophthalmic devices for both diagnosis and treatment purposes. Additionally, the country has a growing middle class with increasing disposable income, which further fuels the demand for quality eye care services and ophthalmic devices. However, there are challenges in terms of accessibility to healthcare services, particularly in rural areas. This creates opportunities for innovative solutions, such as telemedicine, to bridge the gap and reach underserved populations.

Underlying macroeconomic factors: The economic growth and development in Pakistan are contributing to the expansion of the healthcare sector, including the ophthalmic devices market. The government's focus on improving healthcare infrastructure and increasing access to quality healthcare services is driving the demand for ophthalmic devices. Additionally, the increasing awareness about eye health and the availability of health insurance coverage for ophthalmic procedures are also factors that are positively impacting the market. The growing collaborations between local and international manufacturers and distributors are further boosting the availability and affordability of ophthalmic devices in the market. In conclusion, the Ophthalmic Devices market in Pakistan is witnessing growth and development driven by customer preferences for advanced and cost-effective devices, the adoption of telemedicine, the demand for refractive surgeries, the local special circumstances of a large population with eye health needs, and the underlying macroeconomic factors of economic growth and government initiatives in the healthcare sector.

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.