Ophthalmic Devices - Ukraine | Statista Market Forecast

The Ophthalmic Devices market market in Ukraine is expected to achieve a revenue of US$67.54m by the year 2024.
It is projected that this market will experience an annual growth rate (CAGR 2024-2029) of 6.14%, leading to a market volume of US$91.00m by 2029.
When compared globally, the United States is anticipated to generate the highest revenue in this market, amounting to US$14.00bn in 2024.
Ukraine's ophthalmic devices market is experiencing a surge in demand due to the increasing prevalence of eye diseases and the growing elderly 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 Ukraine is experiencing steady growth due to several factors. Customer preferences for advanced and innovative ophthalmic devices, along with the increasing prevalence of eye disorders, are driving the demand in the market. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the development of the market. Customer preferences in Ukraine are shifting towards technologically advanced ophthalmic devices. Patients are increasingly seeking devices that offer improved accuracy, precision, and comfort during eye examinations and treatments. This preference for advanced devices is driven by the growing awareness among patients about the benefits of modern technology in the field of ophthalmology. Moreover, the aging population in Ukraine is also contributing to the demand for ophthalmic devices, as older individuals are more prone to eye disorders and require regular eye examinations and treatments. Trends in the Ophthalmic Devices market in Ukraine include the adoption of digital imaging systems and the increasing use of minimally invasive surgical techniques. Digital imaging systems provide high-resolution images of the eye, allowing for accurate diagnosis and monitoring of eye conditions. This trend is driven by the need for precise and efficient eye examinations. Additionally, the use of minimally invasive surgical techniques, such as laser-assisted cataract surgery, is gaining popularity in Ukraine. These techniques offer faster recovery times and reduced risk of complications, leading to increased patient satisfaction. Local special circumstances in Ukraine, such as the presence of a well-established healthcare infrastructure and a growing medical tourism industry, are contributing to the development of the Ophthalmic Devices market. The country has a strong network of hospitals and clinics that provide ophthalmic services, making it easier for patients to access and receive treatment. Furthermore, the medical tourism industry in Ukraine attracts patients from neighboring countries who seek high-quality and cost-effective eye care services. Underlying macroeconomic factors also play a role in the growth of the Ophthalmic Devices market in Ukraine. The country's improving economic conditions and rising disposable incomes are enabling more individuals to afford ophthalmic devices and treatments. Additionally, government initiatives to improve healthcare infrastructure and increase healthcare spending are further supporting the development of the market. In conclusion, the Ophthalmic Devices market in Ukraine is developing due to customer preferences for advanced devices, the increasing prevalence of eye disorders, local special circumstances, and underlying macroeconomic factors. The adoption of digital imaging systems and minimally invasive surgical techniques, along with the presence of a well-established healthcare infrastructure and a growing medical tourism industry, are driving the growth 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.