Market Insights Health Medical Technology Medical Devices

Ophthalmic Devices - Romania

Romania

The Ophthalmic Devices market market in Romania is anticipated to witness a significant rise in revenue, reaching an estimated value of US$157.60m in 2024.
This projection highlights the country's growing demand for Ophthalmic Devices market.
Furthermore, it is expected that the market will experience a steady annual growth rate of 4.86% between 2024 and 2029, resulting in a market volume of US$199.80m by the end of 2029.
When compared globally, it is worth noting that the United States is expected to generate the highest revenue in the Ophthalmic Devices market market, with an impressive figure of US$14,000.00m in 2024.
This statistic emphasizes the United States' dominant position in the global market.
The demand for ophthalmic devices in Romania is surging due to the growing prevalence of age-related eye diseases.

Key regions: Germany, Italy, France, Japan, United Kingdom

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Analyst Opinion

The Ophthalmic Devices market in Romania is experiencing steady growth, driven by customer preferences for advanced technology and increasing demand for eye care services.

Customer preferences: Customers in Romania have shown a growing preference for advanced ophthalmic devices that offer precise diagnostics and effective treatment options. They are increasingly seeking devices that provide accurate measurements and enable early detection of eye diseases. This preference is driven by the desire for better outcomes and improved patient experience. Additionally, customers are also looking for devices that are user-friendly and easy to operate, allowing for greater convenience and accessibility.

Trends in the market: One of the key trends in the Ophthalmic Devices market in Romania is the adoption of digital imaging and diagnostic technologies. These technologies enable ophthalmologists to capture high-resolution images of the eye, allowing for more accurate diagnosis and treatment planning. Digital imaging also facilitates remote consultations and telemedicine, which have become increasingly important in the wake of the COVID-19 pandemic. Another trend in the market is the increasing demand for refractive surgery devices, such as laser-assisted in situ keratomileusis (LASIK) systems. With a growing number of individuals seeking to correct their vision, the demand for refractive surgery devices has been on the rise. These devices offer precise and customized correction of refractive errors, leading to improved visual outcomes for patients.

Local special circumstances: Romania has a growing elderly population, which is contributing to the demand for ophthalmic devices. As individuals age, they are more likely to develop eye conditions such as cataracts, glaucoma, and age-related macular degeneration. This has led to an increased need for diagnostic and treatment devices in the country. Furthermore, Romania has been investing in the development of its healthcare infrastructure, including eye care facilities. This has resulted in improved access to ophthalmic services, leading to a higher demand for ophthalmic devices.

Underlying macroeconomic factors: The growing economy of Romania has played a significant role in the development of the Ophthalmic Devices market. As the country's GDP continues to increase, individuals have more disposable income to spend on healthcare services, including eye care. This has contributed to the growth of the market as more people are able to afford ophthalmic devices and services. In conclusion, the Ophthalmic Devices market in Romania is witnessing steady growth due to customer preferences for advanced technology, increasing demand for eye care services, and favorable macroeconomic factors. The adoption of digital imaging and diagnostic technologies, as well as the demand for refractive surgery devices, are key trends driving the market. The growing elderly population and investments in healthcare infrastructure are local special circumstances that further contribute to the market's development.

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.