Mexican ophthalmic devices market to grow at double-digit CAGR during 2012-2018
According to insights provided in a report published by Transparency Market Research, the Mexican ophthalmic devices market is estimated to grow at a double digit CAGR during 2012-2018. The global ophthalmic devices market had recorded revenue of USD 12925.6 million in 2011 and is estimated to reach USD 18,286.4 million in 2018 by growing at a CAGR of 5.1%. The key aspects driving the growth of the Mexican medical market include reformed regulatory policies, rising research and development activities related to medical technologies, increased expenditure on healthcare infrastructure, starting up new facilities and consolidations. The US is currently leading the market with 32.8% market share. The major factors supporting Mexico’s ophthalmic devices market growth are lessened treatment time, better patient outcomes, reduced discomfort and reformed quality care for patients and rising demand for devices from patients as well as clinicians for diagnosis, surgery and vision. The major global players operating in Mexico are CIBA Vision, Johnson & Johnson, Essilor International, Bausch & Lomb, Hoya Corporation, Alcon, Abbott Medical Optics, and Carl Zeiss.