Mexico Ophthalmic Devices Market Analysis by Current Industry Status, Key Manufacturers, Industry Drivers and Forecast to 2024

The Mexican ophthalmic devices market is expected to register a CAGR of 4.1% during the forecast period.
The increasing prevalence of ophthalmic diseases and increasing availability of new techniques are primary drivers of the Mexican market. The growing demand for ophthalmic healthcare in Mexico is further supplemented by a growing trend of medical tourism.
As per the scope of the report, the term ophthalmic devices refers to devices that are used in ophthalmic diagnostics, monitoring, and ophthalmic surgeries, along with devices used for vision correction, such as contact lenses.

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As per the scope of the report, the ophthalmic devices cover various vision correction devices, along with a wide range of ophthalmic surgical, treatment, and diagnostic apparatus, including implants, lasers, surgical instruments, autorefractor, keratometers, corneal topography systems, and ophthalmic ultrasound imaging systems.

Top Players:
The Mexican ophthalmic devices market is consolidated and is highly competitive. The Mexican market is dominated by a few global players and most of the complex surgical, monitoring, and diagnostic devices are imported from developed countries, especially from the United States. Most of the global firms have a direct presence in Mexico, however some operate through a network of local distributors.

Cataract Surgery Devices hold the Largest Share in the Surgical Devices Segment
The factors attributing to the dominance of the cataract surgery devices segment are a larger patient pool, high awareness, availability of therapy, and affordability. Cataract volume has seen a rapid increase in recent years.

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Rising geriatric population is also driving the cataract surgery devices segment, while the aging population is expected to burden all areas of healthcare, ophthalmologists provide approximately 90% of their procedure-based services to the elderly population. Cataract surgery is the most frequent ophthalmic surgical procedure performed in Mexico, providing significant improvements in quality of life to the elderly population at a low cost. A high volume of cataract surgery is now carried out predominantly on a same-day basis in Mexico, which is contributing to the need for technologically advanced ophthalmic surgical and diagnostic devices.

In Mexico as most Latin American countries, traditional surgery still has the competitive advantage of low cost, over recent technologies, like laser-assisted surgery. Although laser cataract surgeries have the functional advantage of being precise and free of unnecessary complications, they are expensive and not quite affordable for those without health insurance coverage and rely on their savings alone. Machines with laser technology are installed only in major hospitals, because of which people in rural areas need to travel long distances. Therefore, out-of-pocket expenses for surgery, consumables, and transportation and other costs may turn out to be a huge burden to people with minimal income.

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This release was published on openPR.