Ophthalmic Devices - Zimbabwe | Statista Market Forecast

The projected revenue in the Ophthalmic Devices market market in Zimbabwe is expected to reach US$5.38m by the year 2024.
It is anticipated that the revenue will show an annual growth rate of 1.40% from 2024 to 2029, resulting in a market volume of US$5.77m by the year 2029.
When compared globally, the United States is projected to generate the highest revenue of US$14.00bn in 2024.
Zimbabwe's ophthalmic devices market is witnessing a surge in demand due to an increasing prevalence of eye diseases and a growing 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 Zimbabwe is experiencing significant growth due to increasing customer preferences for advanced eye care solutions and the rising prevalence of eye diseases.

Customer preferences: Customers in Zimbabwe are increasingly seeking advanced ophthalmic devices that can provide accurate and efficient eye care solutions. They are looking for devices that can diagnose and treat a wide range of eye conditions, including cataracts, glaucoma, and refractive errors. Additionally, customers are also showing a preference for portable and user-friendly devices that can be easily used in remote areas with limited access to healthcare facilities.

Trends in the market: One of the key trends in the Zimbabwean Ophthalmic Devices market is the increasing adoption of telemedicine and remote diagnostics. This trend is driven by the need to provide eye care services to underserved areas where access to healthcare facilities is limited. Telemedicine allows eye care professionals to remotely diagnose and monitor eye conditions using digital imaging and video conferencing technologies. This trend is expected to continue as the government and healthcare organizations in Zimbabwe invest in telemedicine infrastructure to improve access to eye care services. Another trend in the market is the growing demand for laser eye surgery. Laser eye surgery, such as LASIK, is gaining popularity among customers in Zimbabwe who are looking for a permanent solution to correct their vision problems. The increasing awareness about the benefits of laser eye surgery, such as improved vision without the need for glasses or contact lenses, is driving the demand for ophthalmic devices used in these procedures.

Local special circumstances: Zimbabwe has a high prevalence of eye diseases, including cataracts, glaucoma, and refractive errors. This is due to factors such as an aging population, limited access to healthcare services, and a lack of awareness about eye care. As a result, there is a growing need for ophthalmic devices that can diagnose and treat these conditions effectively. The government and healthcare organizations in Zimbabwe are working towards raising awareness about eye care and improving access to eye care services, which is expected to further drive the demand for ophthalmic devices in the country.

Underlying macroeconomic factors: The economic growth in Zimbabwe has been relatively slow in recent years, which has limited the affordability of expensive ophthalmic devices for many customers. However, the government and healthcare organizations are taking steps to improve access to affordable eye care services, including the provision of subsidized ophthalmic devices. Additionally, the increasing investment in healthcare infrastructure and the growing presence of international ophthalmic device manufacturers in Zimbabwe are expected to drive competition and lower the prices of ophthalmic devices in 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.