Brazil Ophthalmic Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.80 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Brazil Ophthalmic Devices Market Analysis
The Brazil ophthalmic devices market is expected to register a CAGR of 5.8% over the forecast period.
The outbreak of the COVID-19 pandemic has pushed the pharmaceutical industry into action, with a race to develop both therapeutic and preventive drugs. Exponentially increasing cases of the coronavirus worldwide are leading to the need for the development of novel treatments, with several clinical trials underway. Meanwhile, the manufacturers of ophthalmic devices focused on developing biological vaccines and drugs, which can also be applied in the diagnosis and treatment of COVID-19. Initially, the outbreak of the pandemic adversely impacted the market in Brazil. Many regular eye surgeries were canceled and only emergency surgeries were taken by healthcare professionals during the pandemic. For instance, according to the study titled, "Impacts of the COVID-19 pandemic on elective cataract surgeries" published in May 2022, the COVID-19 pandemic significantly interrupted some cataract surgeries in Brazil from March to June 2020, and surgeons were taking measures against the spread of the virus heterogeneously. It also stated that during the pandemic more than half of the physicians performed only elective cataract surgeries. Therefore, such instances indicate that the market witnessed a slow growth during the pandemic. However, with the ease of restrictions and lockdown, the market is expected to gain momentum, thereby considerable growth is anticipated over the forecast period.
The increasing prevalence of eye disease and increasing geriatric population are the major drivers for the market. For instance, according to the study titled, "Prevalence and associated risk factors for dry eye disease among Brazilian undergraduate students" published in November 2021, dry eye symptoms were found to be a prevalent condition among Brazilian university students compared to the rate of dry eye among the general Brazilian population over 40 years of age. Similarly, according to the study titled, "Prevalence and risk factors for dry eye disease: the Sao Paulo dry eye study" in March 2022, dry eye disease prevalence in Sao Paulo city is higher in women than in men. It also stated that age and hypertension were stronger risk factors of dry eye disease for women. Therefore, increasing cases of eye disorders are anticipated to propel the market growth over the forecast period.
However, shortage of skilled professionals are likely to hinder the market growth over the forecast period.
Brazil Ophthalmic Devices Market Trends
This section covers the major market trends shaping the Brazil Ophthalmic Devices Market according to our research experts:
Contact Lenses Segment is Expected to Witness Growth Over the Forecast Period
Contact lenses are thin, clear plastic discs that you wear in your eye to improve your vision. Contacts float on the tear film that covers your cornea. Like glasses, contact lenses correct vision problems caused by refractive errors. The two most common types of contact lenses are hard and soft. The most common type of hard contact lens is the rigid gas permeable (RGP) lens. These lenses are usually made of plastic combined with other materials. They hold their shape tightly, yet allow oxygen to flow through the lens to your eye. However, most people choose to wear soft contact lenses. They tend to be more comfortable and there are many options.
The factors attributing to the dominance of the contact lenses segment are good awareness regarding the availability of contact lenses and their advantages. The rising eye-related disorders population is also driving the contact lenses segment, while the aging population is expected to burden all areas of healthcare. For instance, according to the study titled, "The frequency of blindness and visual impairment in the central-west region of Brazil" published in August 2021, around 3.6% of the Brazilian population (7.2 million) had blindness or visual impairment in 2021. It also reported that the rising number of ageing Brazilian population is the major cause of increasing the risk of blindness and visual impairment in the country. Furthermore, the study also highlighted that by increasing the access to proper eye care may help to minimize the risk of blindness and visual impairment in Brazil. Contact lenses are generally the most preffered option for patients suffering from visual impairement and eye disorders. Therefore, such instances are anticipated to propel the demand of contact lenses, thereby surging the segmemt growth over the forecast period.
Brazil Ophthalmic Devices Industry Overview
The Brazil ophthalmic devices market is consolidated and highly competitive. The Brazil market is dominated by a few global players. Most of the complex surgical, monitoring and diagnostic devices are imported from developed countries, especially from the United States. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known including Alcon Inc., Bausch & Lomb Inc., Carl Zeiss Meditec AG, Essilor International SA, HAAG-Streit Group, and Nidek Co. Ltd among others.
Brazil Ophthalmic Devices Market Leaders
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Alcon Inc.
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Essilor International SA
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Johnson & Johnson
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Nidek Co. Ltd
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Ziemer Ophthalmic Systems AGtion
*Disclaimer: Major Players sorted in no particular order
Brazil Ophthalmic Devices Market News
- In July 2021, Johnson & Johnson Vision announced the global availability of the VERITAS Vision System, next-generation phacoemulsification (phaco) system designed to address three critical areas: patient safety, surgeon efficiency, and comfort.
- In July 2021, CooperVision has teamed up with Plastic Bank, which operates in Haiti, Brazil, Indonesia, the Philippines, and Egypt to transform the clariti 1-day lens family into the first net plastic-neutral contact lens in the United States.
Brazil Ophthalmic Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Defination
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Eye Disease
4.2.2 Increasing Geriatric Population
4.3 Market Restraints
4.3.1 Shortage of Skilled Professionals
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Devices
5.1.1 Surgical Devices
5.1.1.1 Glaucoma Drainage Devices
5.1.1.2 Glaucoma Stents and Implants
5.1.1.3 Intraocular Lenses
5.1.1.4 Lasers
5.1.1.5 Other Surgical Devices
5.1.2 Diagnostic and Monitoring Devices
5.1.2.1 Autorefractors and Keratometers
5.1.2.2 Corneal Topography Systems
5.1.2.3 Ophthalmic Ultrasound Imaging Systems
5.1.2.4 Ophthalmoscopes
5.1.2.5 Optical Coherence Tomography Scanners
5.1.2.6 Other Diagnostic and Monitoring Devices
5.1.3 Vision Correction Devices
5.1.3.1 Spectacles
5.1.3.2 Contact Lenses
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Bausch & Lomb Inc.
6.1.2 Carl Zeiss Meditec AG
6.1.3 Essilor International SA
6.1.4 Johnson & Johnson
6.1.5 Nidek Co. Ltd
6.1.6 Topcon Corporation
6.1.7 Ziemer Ophthalmic Systems AG
6.1.8 Alcon Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Brazil Ophthalmic Devices Industry Segmentation
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. The Brazil Ophthalmic Devices Market is segmented by Devices (Surgical Devices (Glaucoma Drainage Devices, Glaucoma Stents and Implants, Intraocular Lenses, Lasers, and Other Surgical Devices), Diagnostic and Monitoring Devices (Autorefractors and Keratometers, Corneal Topography Systems, Ophthalmic Ultrasound Imaging Systems, Ophthalmoscopes, Optical Coherence Tomography Scanners, and Other Diagnostic and Monitoring Devices), and Vision Correction Devices (Spectacles and Contact Lenses)). The report offers the value (in USD million) for the above segments.
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Brazil Ophthalmic Devices Market Research FAQs
What is the current Brazil Ophthalmic Devices Market size?
The Brazil Ophthalmic Devices Market is projected to register a CAGR of 5.80% during the forecast period (2024-2029)
Who are the key players in Brazil Ophthalmic Devices Market?
Alcon Inc., Essilor International SA, Johnson & Johnson, Nidek Co. Ltd and Ziemer Ophthalmic Systems AGtion are the major companies operating in the Brazil Ophthalmic Devices Market.
What years does this Brazil Ophthalmic Devices Market cover?
The report covers the Brazil Ophthalmic Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Brazil Ophthalmic Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Brazil Ophthalmic Devices Industry Report
Statistics for the 2024 Brazil Ophthalmic Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Brazil Ophthalmic Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
