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Report
Uae Ophthalmic Devices Market - Growth Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 70 Pages I Mordor Intelligence
The UAE ophthalmic devices market is projected to register a CAGR of 4.2% over the forecast period.
Ophthalmic devices are medical equipment for diagnosis, surgical, and vision correction purposes. These devices gained importance due to the high prevalence of various ophthalmic diseases such as glaucoma, cataracts, and other vision-related issues across the UAE. According to the article published in Cleveland Clinic Abu Dhabi, many people in the UAE live with common eye diseases such as glaucoma and diabetic retinopathy. Similarly, as per the Oman Medical Journal study, the prevalence of diabetic retinopathy in the United Arab Emirates was 19%. Thus, such incidences of various eye diseases are expected to drive the demand for ophthalmic diseases, thereby contributing to the market's growth over the forecast period.
As per the article published in Dubai Media Journal, 21.37% of students had impaired vision, and 20.9% had a refractive error, of which 58% were uncorrected. Thus, the high incidence of such ophthalmic conditions is expected to drive the demand for ophthalmic devices for advanced eye care, thereby contributing to the market's growth during the forecast period.
The establishment of major ophthalmic hospitals in UAE to meet the growing demand for advanced ophthalmic care is expected to contribute to the market's growth over the forecast period. For instance, Barraquer inaugurated Barraquer UAW Eye hospital in Dubai, 13,000 sq. m. ft, equipped with the latest technology. Such establishment of ophthalmic hospitals employs various advanced devices for proper treatment in the healthcare facility, thereby contributing to the market's growth.
Thus, the aforementioned factors are likely to positively impact the market's growth; poor primary healthcare infrastructure in developing and under-developed countries and the risk associated with ophthalmic procedures may hinder the market's growth.
The COVID-19 pandemic significantly impacted the healthcare industry due to the imposition of strict lockdowns by various governments, thereby disrupting supply chain management. The pandemic resulted in considerable service reductions throughout the UAE, with ophthalmology being one of the most severely impacted specialties. There were some ophthalmic complications observed due to the administration of COVID-19 vaccination. According to the article published by JAMA, in a study conducted in Abu Dhabi, 9 out of 7 patients presented ocular complaints following the COVID-19 vaccine. Such incidence of various ocular complications increased the demand for advanced ophthalmic care during the pandemic. This trend in the market for ophthalmic devices is expected to continue during the post-pandemic period owing to the relaxation of restrictions in the UAE. Thus, COVID-19 is expected to have a significant impact on the growth of the market.
UAE Ophthalmic Devices Market Trends
Contact Lenses Segment is Expected to Register a High CAGR Over the Forecast Period
Contact or corrective lenses aid and improve vision for those with common refractive errors like myopia, hypermetropia, astigmatism, and presbyopia. These visual impairments result in low vision in most of the UAE population. Moreover, the prevalence of these conditions among the population is expected to grow, owing to increased screen timing, the rising geriatric population, and other chronic diseases which lead to loss of vision.
The article published by the Journal of Opthalmology mentioned the prevalence of presenting mild, moderate, and severe visual impairment was 4.7%, 1.8%, and 0% for Emiratis. Such vision-related disorders are expected to drive the growth of the market studied in the country.
Innovative product launches are expected to contribute to the market's growth. For instance, the Rivioli group launched Riviolo vision, a dedicated division for its eyewear business, to offer its GCC customers the highest quality vision care.
Such increasing demand for corrective lenses for aesthetic appearance and the rising prevalence of various ocular disorders are expected to contribute to the market's growth over the forecast period.
Laser is Expected to Hold Notable Share in the Market Over the Forecast Period
Lasers are used in preventing and treating eye diseases. The transparency of the front of the eye, the cornea, allows the laser to reach almost the entire tissue of the eye, thus helpful in treating various ophthalmic disorders.
The prevalence of various ophthalmologic diseases among the UAE population is expected to drive the demand for laser surgical devices, thereby contributing to the market's growth. As per the NCBI article published in May 2021, the prevalence of dry eyes in Dubai was estimated to be 62.6%, with severely dry eyes being the most prevalent (42%). Such a high prevalence of ophthalmic diseases is expected to fuel the growth of the studied segment, thereby contributing to the development of the market.
Additionally, the launch of various advanced products is expected to drive the growth of the studied segment over the forecast period. For instance, in November 2022, the Lasik and Eye surgery center in Dubai launched the ZIESS SMILE Pro, eye surgery using ZEISS Visumax 800 technology. ZEISS SMILE is the standard for laser eye surgery as a non-invasive and painless procedure.
Thus, the prevalence of various ophthalmic diseases and a rise in the launch of different laser eye surgeries in the UAE are expected to drive the segment growth over the forecast period.
UAE Ophthalmic Devices Market Competitor Analysis
As per the scope of the report, the ophthalmic devices market is moderately competitive. Some players operating in the market are Alcon Inc., Bausch Health Companies Inc., Carl Zeiss Meditec AG, EssilorLuxottica SA, HAAG-Streit Group, Hoya Corporation, Johnson & Johnson, Nidek Co. Ltd., Topcon Corporation, and Ziemer Ophthalmic Systems AG.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Demographic Shift and Increasing Prevalence of Eye Diseases Along With Rising Geriatric Population
4.2.2 Technological Advancements in Ophthalmic Devices
4.3 Market Restraints
4.3.1 Risk Associated with Ophthalmic Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Devices
5.1.1 Surgical Devices
5.1.1.1 Glaucoma Drainage Devices
5.1.1.2 Glaucoma Stents and Implants
5.1.1.3 Intraocular Lenses
5.1.1.4 Lasers
5.1.1.5 Other Surgical Devices
5.1.2 Diagnostic and Monitoring Devices
5.1.2.1 Autorefractors and Keratometers
5.1.2.2 Corneal Topography Systems
5.1.2.3 Ophthalmic Ultrasound Imaging Systems
5.1.2.4 Ophthalmoscopes
5.1.2.5 Optical Coherence Tomography Scanners
5.1.2.6 Other Diagnostic and Monitoring Devices
5.1.3 Vision Correction Devices
5.1.3.1 Spectacles
5.1.3.2 Contact Lenses
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Alcon Inc.
6.1.2 Bausch Health Companies Inc.
6.1.3 Carl Zeiss Meditec AG
6.1.4 EssilorLuxottica SA
6.1.5 HAAG-Streit Group
6.1.6 Hoya Corporation
6.1.7 Johnson and Johnson
6.1.8 Nidek Co. Ltd
6.1.9 Topcon Corporation
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