Ophthalmic Devices - Saudi Arabia

The projected revenue in the Ophthalmic Devices market market in Saudi Arabia is estimated to reach US$558.10m in 2024.
It is expected that the revenue will show an annual growth rate (CAGR 2024-2029) of 4.87%, leading to a market volume of US$708.00m by 2029.
In terms of global comparison, the United States is anticipated to generate the highest revenue in the market, with US$14.00bn in 2024.
The market of Ophthalmic Devices market in Saudi Arabia demonstrates promising potential for growth and development.
The demand for advanced ophthalmic devices in Saudi Arabia is on the rise, driven by 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 Saudi Arabia is experiencing steady growth due to increasing customer preferences for advanced eye care solutions and the presence of local special circumstances. Customer preferences in the Ophthalmic Devices market in Saudi Arabia are driven by the rising awareness about eye health and the growing demand for technologically advanced devices. Customers in Saudi Arabia are increasingly opting for ophthalmic devices that offer accurate diagnosis and effective treatment options. The preference for advanced devices is also influenced by the desire for convenience and comfort in eye care. Trends in the market show a shift towards the adoption of innovative ophthalmic devices in Saudi Arabia. The market is witnessing a growing demand for devices such as optical coherence tomography (OCT) scanners, intraocular lenses (IOLs), and femtosecond lasers. These devices offer improved precision, faster diagnosis, and enhanced treatment outcomes. The increasing prevalence of eye diseases, such as cataracts and glaucoma, is also driving the demand for ophthalmic devices in Saudi Arabia. Local special circumstances in Saudi Arabia contribute to the growth of the Ophthalmic Devices market. The country has a high prevalence of eye diseases, which creates a significant demand for ophthalmic devices. Additionally, Saudi Arabia has a well-developed healthcare infrastructure and a strong focus on healthcare investments. The government's initiatives to improve the quality of healthcare services and increase accessibility to advanced medical technologies further support the 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 Saudi Arabia. The country's growing population, coupled with increasing disposable incomes, drives the demand for better healthcare services, including eye care. The rising healthcare expenditure and favorable government policies for the healthcare sector contribute to the growth of the Ophthalmic Devices market. Furthermore, the presence of a large number of international players in the market, along with collaborations and partnerships with local distributors, helps in expanding the market reach and availability of ophthalmic devices in Saudi Arabia. In conclusion, the Ophthalmic Devices market in Saudi Arabia is witnessing growth due to customer preferences for advanced eye care solutions, the presence of local special circumstances, and favorable macroeconomic factors. The increasing demand for technologically advanced devices, the rising prevalence of eye diseases, and the government's focus on healthcare investments are driving the growth of the market in Saudi Arabia.

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.