UAE Ophthalmic Equipment Market to grow with a CAGR of 5.14%
Increasing healthcare infrastructure and a supportive regulatory environment are the major drivers for the UAE Ophthalmic Equipment Market.
According to TechSci Research report, “UAE
Ophthalmic Equipment Market Industry Size, Share, Trends, Competition,
Opportunity and Forecast, 2018-2028”,
UAE Ophthalmic Equipment Market has valued at USD 0.68 billion in 2022 and is
anticipated to witness an impressive growth in the forecast period with a CAGR
of 5.14% 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.
The integration of teleophthalmology
plays a crucial role in driving the demand for ophthalmic equipment.
Teleophthalmology, which involves the use of telecommunication technologies for
remote eye care services, contributes to increased accessibility, efficiency,
and reach of eye care. Teleophthalmology
allows healthcare professionals to remotely conduct diagnostic assessments and
monitor eye conditions. The demand for ophthalmic equipment such as digital
retinal cameras, fundus cameras, and optical coherence tomography (OCT) devices
increases as these tools are essential for capturing high-quality images
remotely. Ophthalmic equipment used for digital imaging, including retinal
imaging systems and cameras, becomes essential for capturing images and
transmitting them for remote consultations. The demand for high-resolution
imaging equipment grows to ensure accurate assessments during
teleconsultations.
Teleophthalmology facilitates eye care
services in underserved or remote areas where access to traditional eye care
facilities may be limited. The demand for portable and easy-to-use ophthalmic
equipment has become significant for outreach programs and mobile
teleophthalmology units. Ophthalmic equipment that supports real-time
collaboration and sharing of diagnostic information becomes crucial in
teleophthalmology. This includes tools for live video consultations, secure
data transmission, and collaborative platforms that enhance communication
between healthcare professionals.
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In August 2021, Valiant
Clinic and Hospital, a leading multi-specialty boutique hospital based in
Dubai, has partnered with Moorfields Eye Hospital Dubai to bring over two
centuries of renowned expertise in eye care to its patients. Moorfields Eye
Hospital Dubai, an integrated branch of Moorfields London, provides exceptional
diagnosis and treatment for eye diseases, offering a wide range of services now
accessible at Valiant Clinic & Hospital. The collaborative services
encompass optometrist assessments for glasses or contact lens prescriptions,
diagnostic procedures and scans tailored to individual patient needs, and comprehensive
consultations with ophthalmologists for patients requiring eye examinations.
Economic
factors present challenges in the UAE Ophthalmic Equipment Market. Changes
in currency exchange rates can impact on the cost of importing ophthalmic
equipment. Fluctuations may affect the pricing strategies of manufacturers and
suppliers, potentially leading to changes in equipment costs for healthcare
providers. Economic conditions, including inflation and the overall cost of
living, can influence the purchasing power of both healthcare institutions and
individuals. High inflation rates may lead to increased operational costs for
healthcare providers, impacting their ability to invest in new ophthalmic
equipment. During economic downturns or periods of financial
uncertainty, healthcare providers may become more conservative in their
spending. Capital investments in expensive ophthalmic equipment may be delayed
or reconsidered, affecting market demand. Economic conditions can impact the
availability and cost of financing for healthcare institutions looking to
invest in ophthalmic equipment. Difficulty in accessing affordable financing
options may hinder capital expenditure plans.
UAE Ophthalmic Equipment
Market is segmented based on Product, Application, End User, and by region.
Based on the Product, UAE
Ophthalmic Equipment
Market is segmented into Vision Care Products, Ophthalmology Surgical Devices,
Diagnostic & Monitoring Devices, Others. Ophthalmology surgical devices are
specialized instruments and equipment used by eye surgeons, particularly
ophthalmologists, for various surgical procedures related to the eyes. These
devices are designed to facilitate precise and delicate interventions, ranging
from routine eye surgeries to complex procedures. Phacoemulsification
Systems are used in cataract surgery, these systems utilize ultrasound energy
to break up and emulsify the cloudy lens, allowing for its removal. Handpieces,
ultrasonic probes, irrigation/aspiration systems, and control consoles are its
components.
Based on Region, Abu Dhabi region held the largest share
in the UAE Ophthalmic
Equipment Market. Abu Dhabi is a hub for medical tourism,
it may attract patients seeking eye care services from other regions and even
internationally. This could further drive the demand for high-quality
ophthalmic equipment. Abu Dhabi hosts research and development centers or
institutions focused on ophthalmic advancements, it can contribute to the
region's dominance by fostering innovation and attracting investments.
Collaborations between healthcare institutions, government bodies, and private
sector entities in Abu Dhabi may contribute to the region's leadership in the
ophthalmic equipment market. Such partnerships can enhance the accessibility
and quality of eye care services.
Some of the major companies operating in
the UAE Ophthalmic
Equipment Market include:
- Alcon Inc.
- Johnson
& Johnson Middle East FZ-LLC
- CooperVision
UAE
- Bausch
Health Companies, Inc UAE
- Carl Zeiss
Vision MENA FZE
- Glaukos
Corporation UAE
- Atlas
Medical FZCO
- Nidek UAE
(Abtahi Medical)
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“Certain areas,
particularly in Dubai, 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 UAE Ophthalmic Equipment Market in the
forecast period," said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based Global management consulting firm.
UAE 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 UAE
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 UAE Ophthalmic Equipment
Market.
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