Ophthalmic Devices - Switzerland | Statista Market Forecast

In Switzerland, the projected revenue for the Ophthalmic Devices market market is expected to reach US$366.30m in 2024.
Looking ahead, the market is anticipated to grow at an annual growth rate (CAGR 2024-2029) of 3.96%, leading to a market volume of US$444.90m by 2029.
It is worth noting that in global comparison, the United States is set to generate the highest revenue, with US$14.00bn in 2024.
Switzerland, known for its precision engineering, is at the forefront of ophthalmic device innovation, catering to its high-demand healthcare market.

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 Switzerland is experiencing steady growth due to increasing customer preferences for advanced eye care solutions.

Customer preferences: Customers in Switzerland are increasingly seeking technologically advanced ophthalmic devices that can provide accurate diagnoses and effective treatments for various eye conditions. They value products that are reliable, durable, and provide high-quality outcomes. Additionally, there is a growing demand for minimally invasive surgical procedures and non-invasive diagnostic tools that can enhance patient comfort and reduce recovery time.

Trends in the market: One of the key trends in the Swiss Ophthalmic Devices market is the adoption of laser-assisted refractive surgery, such as LASIK, for vision correction. This procedure offers precise and predictable outcomes, resulting in reduced dependence on corrective eyewear. Another emerging trend is the use of advanced imaging technologies, such as optical coherence tomography (OCT), for early detection and monitoring of eye diseases. These technologies provide detailed images of the eye structures, enabling ophthalmologists to diagnose and treat conditions like glaucoma and macular degeneration more effectively.

Local special circumstances: Switzerland has a highly developed healthcare system and a strong focus on research and development in the field of ophthalmology. The country is home to several renowned eye clinics and research institutes, attracting both domestic and international patients. The presence of these specialized institutions fosters innovation and drives the adoption of advanced ophthalmic devices in the market.

Underlying macroeconomic factors: Switzerland's strong economy and high per capita income contribute to the growth of the Ophthalmic Devices market. The country's healthcare system is well-funded, ensuring accessibility to advanced eye care solutions for a large portion of the population. Additionally, the aging population in Switzerland is driving the demand for ophthalmic devices, as age-related eye conditions become more prevalent. The government's focus on healthcare infrastructure development and reimbursement policies also support the growth of the market. In conclusion, the Ophthalmic Devices market in Switzerland is witnessing growth due to customer preferences for advanced eye care solutions, such as laser-assisted refractive surgery and advanced imaging technologies. The presence of specialized eye clinics and research institutes, along with Switzerland's strong economy and aging population, further contribute to the market's development. With ongoing advancements in technology and increasing investments in research and development, the market is expected to continue its growth trajectory 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.