The import of ophthalmic instruments and appliances to India has shown a relatively steady growth over the years. Starting in 2013 with 500.03 thousand kilograms, there has been a mix of slight decreases and steady increases, with notable spikes occurring in 2016 and subsequent steady year-on-year increments. As of 2023, the import volume stood at 639.97 thousand kilograms. The forecasted data for 2024 to 2028 indicates a continued incremental rise, although at a slightly reduced compound annual growth rate (CAGR) of 1.8%, compared to the historical CAGR of 3.23% from 2019 to 2023.
Observing the variations year-on-year:
- 2021: 2.89%
- 2022: 2.75%
- 2023: 2.63%
The overall CAGR over the last five years has been 3.23%, evidencing moderate but consistent growth.
Future trends to watch for include potential impacts from technological advancements in ophthalmic instruments, shifts in healthcare infrastructure investments, and policy changes affecting import regulations. Additionally, the increasing prevalence of eye-related health issues may drive further demand.
