Market Size of Brazil Ophthalmic Devices Industry
| 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 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 Size Summary
The Brazil ophthalmic devices market is poised for significant growth, driven by the increasing prevalence of eye diseases and a rising geriatric population. The market experienced a temporary setback during the COVID-19 pandemic, as elective eye surgeries were postponed, impacting initial growth. However, as restrictions eased, the market began to recover, with expectations of robust expansion over the forecast period. The demand for ophthalmic devices is further bolstered by the growing awareness and adoption of contact lenses, which are preferred for their comfort and effectiveness in addressing refractive errors. The aging population in Brazil, coupled with the prevalence of eye disorders, is anticipated to fuel the demand for these devices, thereby propelling market growth.
The competitive landscape of the Brazil ophthalmic devices market is characterized by a few dominant global players, with most complex surgical and diagnostic devices being imported from developed countries. Companies such as Alcon Inc., Bausch & Lomb Inc., and Essilor International SA are key players in this consolidated market. Innovations and collaborations, such as Johnson & Johnson Vision's introduction of the VERITAS Vision System and CooperVision's partnership with Plastic Bank, highlight the ongoing advancements and sustainability efforts within the industry. Despite the challenges posed by a shortage of skilled professionals, the market is expected to continue its upward trajectory, driven by technological advancements and increasing access to eye care.
Brazil Ophthalmic Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Eye Disease
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1.2.2 Increasing Geriatric Population
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1.3 Market Restraints
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1.3.1 Shortage of Skilled Professionals
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Devices
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2.1.1 Surgical Devices
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2.1.1.1 Glaucoma Drainage Devices
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2.1.1.2 Glaucoma Stents and Implants
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2.1.1.3 Intraocular Lenses
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2.1.1.4 Lasers
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2.1.1.5 Other Surgical Devices
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2.1.2 Diagnostic and Monitoring Devices
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2.1.2.1 Autorefractors and Keratometers
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2.1.2.2 Corneal Topography Systems
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2.1.2.3 Ophthalmic Ultrasound Imaging Systems
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2.1.2.4 Ophthalmoscopes
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2.1.2.5 Optical Coherence Tomography Scanners
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2.1.2.6 Other Diagnostic and Monitoring Devices
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2.1.3 Vision Correction Devices
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2.1.3.1 Spectacles
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2.1.3.2 Contact Lenses
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Brazil Ophthalmic Devices Market Size 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.
