Market Insights Health Medical Technology Medical Devices

Ophthalmic Devices - France

France

The projected revenue in the Ophthalmic Devices market market in France is expected to reach US$1.40bn in 2024.
This indicates that the market is set to grow steadily in the coming years.
Furthermore, it is anticipated that the market will exhibit a Compound Annual Growth Rate (CAGR) of 3.07% between 2024 and 2028.
This growth trajectory would result in a market volume of US$1.58bn by 2028.
When considering the global perspective, it is important to note that the United States is projected to generate the highest revenue in the Ophthalmic Devices market market.
In 2024 alone, the United States is expected to generate a substantial revenue of US$14,150.00m.
This highlights the dominance of the United States in this particular market.
France has a strong demand for ophthalmic devices due to its advanced healthcare infrastructure and high prevalence of eye disorders.

Key regions: Netherlands, Japan, United States, Spain, France

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Analyst Opinion

The Ophthalmic Devices market in France is experiencing significant growth due to various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in France are increasingly seeking advanced ophthalmic devices that offer superior accuracy and precision in diagnosing and treating eye conditions. They prefer devices that are easy to use, provide quick results, and have a high level of reliability. Additionally, there is a growing demand for devices that are compact and portable, allowing for greater convenience and flexibility in their usage.

Trends in the market: One of the key trends in the Ophthalmic Devices market in France is the increasing adoption of digital imaging technology. Digital imaging devices such as optical coherence tomography (OCT) scanners and fundus cameras are being widely used for diagnosing and monitoring various eye conditions. These devices provide high-resolution images of the eye, allowing healthcare professionals to accurately detect and track the progression of diseases such as glaucoma, macular degeneration, and diabetic retinopathy. Another trend in the market is the growing popularity of minimally invasive surgical procedures. Customers in France are increasingly opting for procedures such as laser-assisted in situ keratomileusis (LASIK) and cataract surgery using phacoemulsification techniques. These procedures offer faster recovery times, minimal scarring, and improved visual outcomes compared to traditional surgical methods.

Local special circumstances: France has a well-developed healthcare system, which includes a strong network of ophthalmic clinics and hospitals. This, coupled with the country's high healthcare expenditure, contributes to the growth of the Ophthalmic Devices market. Additionally, France has a large elderly population, which is more prone to eye conditions such as cataracts and age-related macular degeneration. This demographic factor drives the demand for ophthalmic devices and treatments in the country.

Underlying macroeconomic factors: The Ophthalmic Devices market in France is also influenced by underlying macroeconomic factors, such as the country's GDP growth, disposable income levels, and government healthcare policies. As the economy grows and disposable incomes increase, individuals are more willing to invest in advanced ophthalmic devices and treatments. Furthermore, the French government's focus on improving healthcare infrastructure and access to healthcare services further supports the growth of the market. In conclusion, the Ophthalmic Devices market in France is witnessing significant growth driven by customer preferences for advanced and reliable devices, trends such as the adoption of digital imaging technology and minimally invasive surgical procedures, local special circumstances including a well-developed healthcare system and a large elderly population, and underlying macroeconomic factors such as GDP growth and government healthcare policies.

Methodology

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.