Report Overview

The Australian Ophthalmic Device market size stood at around USD xx billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

According to the 201718 National Health Survey (NHS) of Australia, the percentage of the population with visual impairment has been increasing over the years in Australia. This is expected to increase the demand for vision correction devices in Australia, which will further help in the market growth.



Market Drivers

The ophthalmic devices are the medical equipment designed for diagnosis, surgical, and vision correction purposes. These devices have gained increasing importance and adoption due to the high prevalence of various ophthalmic diseases, such as glaucoma, cataract, and other vision-related issues across Australia. Moreover, technological advancements in the field have also boosted the adoption rate. Over the past 10 years, significant improvements in the technology underlying ophthalmic diagnosis and treatment have led to marked improvements in visual outcomes for patients. Over the past two decades, the number of people aged 85 years and over increased by 117.1%, compared with a total population growth of 34.8% over the same period. In the year ending 30 June 2019, the number of people aged 85 years and over increased by 12,600 people (2.5%) to reach 515,700 the above data shows the Australian Rising Geriatric Population.