Press Release

Saudi Arabia Ophthalmic Equipment Market to grow with a CAGR of 4.87%

Increasing healthcare infrastructure and a supportive regulatory environment are the major drivers for the Saudi Arabia Ophthalmic Equipment Market.

 

According to TechSci Research report, “Saudi Arabia Ophthalmic Equipment Market Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Saudi Arabia Ophthalmic Equipment Market has valued at USD 1.06 billion in 2022 and is anticipated to witness an impressive growth in the forecast period with a CAGR of 4.87% through 2028.   This can be due to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market.

 Access to healthcare is a significant driver of the demand for ophthalmic equipment. Improved access to healthcare services allows individuals to have regular eye check-ups and screenings, leading to the early detection of eye conditions. Early diagnosis often requires the use of diagnostic ophthalmic equipment. When people have access to healthcare facilities, they are more likely to seek eye care services, including comprehensive eye examinations. This leads to a higher demand for ophthalmic equipment for diagnostic purposes. Access to healthcare facilitates the management of chronic eye conditions, such as glaucoma and diabetic retinopathy. Ophthalmic equipment is essential for monitoring these conditions and ensuring effective treatment. Access to healthcare enables elderly individuals to access cataract surgery and other treatments for age-related eye conditions. This, in turn, drives the demand for surgical ophthalmic equipment and intraocular lenses. People with access to healthcare are more likely to seek vision correction services, such as eyeglasses or contact lenses. The fitting and prescription of corrective lenses require the use of ophthalmic equipment.

 

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In February 2023, Al Rushaid, a global leader in providing personalized health, security risk management, and well-being solutions, has recently inaugurated the International SOS Medical Complex in Al Khobar. International SOS – Al Rushaid is a collaborative effort between the prominent Saudi corporation, Al Rushaid Group, and International SOS, a trailblazer in international health and security risk management based in London. The new healthcare facility offers a comprehensive array of services, including dental care, obstetrics, gynecology, pediatric care, internal medicine, family medicine, and ophthalmology.

Supply chain disruptions present challenges in the Saudi Arabia Ophthalmic Equipment Market, as they can in any sector. Unforeseen global events such as natural disasters, pandemics, geopolitical issues, and trade disputes can disrupt the global supply chain for ophthalmic equipment. These disruptions can lead to delays in equipment delivery and impact inventory levels. Saudi Arabia may rely on imports for a significant portion of its medical equipment, including ophthalmic devices. Any disruptions in the global supply chain, such as transportation delays or customs issues, can affect the availability of equipment in the local market. Supply chain disruptions can lead to increased costs associated with equipment procurement, transportation, and customs clearance. These higher costs can strain the budgets of healthcare facilities and potentially lead to price increases for patients. When the supply chain is disrupted, it can result in equipment shortages. This, in turn, can impact the ability of healthcare facilities to provide timely and comprehensive eye care services.

Saudi Arabia Ophthalmic Equipment Market is segmented based on Products, Application, End User, and by region.

Based on the Application, Saudi Arabia Ophthalmic Equipment Market is segmented into Glaucoma, Amblyopia, Cataract, Retinal Detachment, Others. Amblyopia, commonly known as lazy eye, is a vision disorder that typically occurs in childhood and can lead to reduced vision in one eye. It is not related to any eye health problems but rather results from the brain and the eyes not working well together. The most prominent feature of amblyopia is a significant reduction in the clarity and sharpness of vision in one eye compared to the other. The affected eye, known as the lazy eye, may have poorer visual acuity. Amblyopia is typically a unilateral condition, meaning it affects one eye. In most cases, the other eye has normal or better vision. The affected eye may have a refractive error (e.g., nearsightedness, farsightedness, or astigmatism) or a structural issue (e.g., misaligned eyes) that results in visual impairment. Amblyopia often develops in early childhood when the visual system is still developing and is most responsive to treatment. If left untreated, the reduced vision in the affected eye can persist into adulthood.

Based on Region, Northern & Central region held the largest share in the Saudi Arabia Ophthalmic Equipment Market. The Saudi government has been investing in healthcare infrastructure and services, and this investment is often concentrated in major cities and regions, including the Central region. Government initiatives can boost the availability of ophthalmic equipment in these areas. The availability and extent of health insurance coverage are generally better in urban areas like Riyadh and Jeddah. This can increase access to eye care services, encouraging the demand for ophthalmic equipment. Saudi Arabia attracts medical tourists from neighboring countries. International patients often seek specialized eye care services in major cities, contributing to the demand for advanced ophthalmic equipment.

 

Some of the major companies operating in the Saudi Arabia Ophthalmic Equipment Market include:

  • Alcon Inc.
  • Johnson & Johnson
  • CooperVision, Inc.
  • Bausch Health Companies, Inc.
  • Carl Zeiss, Inc.
  • Glaukos Corporation
  • STAAR Surgical Company
  • Heidelberg Engineering, Inc.

 

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“Certain areas, particularly in North America, are projected to exert significant demand for Ophthalmic Equipment. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhance the overall wellbeing of people each year, are expected to contribute to a remarkable growth of the Saudi Arabia Ophthalmic Equipment Market in the forecast period," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

Saudi Arabia Ophthalmic Equipment Market by Product (Vision Care Products, Ophthalmology Surgical Devices, Diagnostic & Monitoring Devices, Others), By Application (Glaucoma, Amblyopia, Cataract, Retinal Detachment, Others), By End User (Hospitals & Clinics, Ambulatory Care Centers, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F has evaluated the future growth potential of Saudi Arabia Ophthalmic Equipment Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Ophthalmic Equipment Market.

 

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