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Latin America Contact Lenses Market Report and Forecast 2024-2032

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    Report

  • 215 Pages
  • June 2024
  • Region: Latin America
  • Expert Market Research
  • ID: 5981982

Market Outlook

According to this report, the Latin America contact lenses market size reached a value ofUSD 1.43 billion in 2023. Aided by the increasing prevalence of vision disorders and the growing demand for aesthetic enhancements, the market is projected to further grow at a CAGR of 5.0% between 2024 and 2032 to reach a value ofUSD 2.23 billion by 2032.

Contact lenses are thin, curved lenses placed directly on the surface of the eye to correct vision or for cosmetic or therapeutic purposes. They offer a convenient and effective alternative to traditional eyeglasses, providing users with a wider field of view and greater freedom of movement. Contact lenses are used to correct a variety of vision problems, including myopia (nearsightedness), hyperopia (farsightedness), astigmatism, and presbyopia.

The increasing prevalence of vision disorders is a key factor driving the Latin America contact lenses market growth. With the growing incidence of refractive errors and eye diseases such as cataracts and glaucoma, there is a significant demand for corrective lenses. Additionally, the rising awareness of the importance of eye health and regular eye check-ups is further propelling the demand for contact lenses in the region.

The growing demand for aesthetic enhancements also plays a significant role in propelling the market. Coloured and decorative contact lenses, which are used to change the appearance of the eyes, are gaining popularity among consumers in Latin America. These lenses are often used for cosmetic purposes, such as enhancing eye colour or creating unique looks for special occasions. The increasing interest in beauty and fashion trends is driving the demand for coloured contact lenses in the region.

Moreover, advancements in contact lens technology are driving innovation and development in the contact lenses market in Latin America . Manufacturers are continually introducing new and improved contact lenses with enhanced features, such as increased oxygen permeability, moisture retention, and UV protection. These advancements are improving the comfort and safety of contact lenses, making them more appealing to consumers. Additionally, the development of daily disposable contact lenses, which offer greater convenience and hygiene, is further boosting the market growth.

The expanding applications of contact lenses in various sectors also contribute to the market growth. In the healthcare sector, contact lenses are used for therapeutic purposes, such as drug delivery and corneal protection. In the sports and recreation sector, contact lenses are preferred by athletes and active individuals for their convenience and ability to provide clear and unobstructed vision. Additionally, the increasing use of contact lenses in the film and entertainment sector for special effects and character portrayal is consequently driving up the Latin America contact lenses market share.

The regulatory environment in Latin America also plays a crucial role in shaping the contact lenses market. Governments and regulatory bodies in the region are actively supporting the development and distribution of safe and effective contact lenses. For instance, various countries have introduced regulations and guidelines to ensure the quality and safety of contact lenses and related products. These regulatory efforts are providing a favourable environment for the growth of the contact lenses market in the region.

As per the Latin America contact lenses market analysis, Brazil holds a significant share of the market, driven by the large population and increasing prevalence of vision disorders. The growing awareness of eye health and the rising demand for corrective and cosmetic contact lenses are propelling the market growth in the country. Additionally, the presence of a well-established healthcare infrastructure and the increasing availability of advanced contact lens products are further supporting the market expansion in Brazil.

Market Segmentation

The market can be divided based on material, design, application, distribution channel, and region.

Market Breakup by Material

  • Gas Permeable
  • Silicone Hydrogel
  • Hybrid

Market Breakup by Design

  • Spherical Lens
  • Toric Lens
  • Multifocal Lens
  • Others

Market Breakup by Application

  • Corrective
  • Therapeutic
  • Cosmetic
  • Prosthetic

Market Breakup by Distribution Channel

  • Eye Care Professionals
  • Retail
  • Online

Market Breakup by Region

  • Brazil
  • Mexico
  • Argentina
  • Chile
  • Others

Competitive landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in Latin America contact lenses market. some of the major players explored in the report are as follows:
  • Carl Zeiss AG
  • CooperVision, Inc.
  • Menicon Co., Ltd.
  • Alcon Inc.
  • SynergEyes
  • Johnson & Johnson Surgical Vision, Inc.
  • Solotica
  • Bausch + Lomb Corporation
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot7 Opportunities and Challenges in the Market
8 Global Contact Lenses Market Overview
8.1 Key Industry Highlights
8.2 Global Contact Lenses Historical Market (2018-2023)
8.3 Global Contact Lenses Market Forecast (2024-2032)
9 Latin America Contact Lenses Market Overview
9.1 Key Industry Highlights
9.2 Latin America Contact Lenses Historical Market (2018-2023)
9.3 Latin America Contact Lenses Market Forecast (2024-2032)
10 Latin America Contact Lenses Market by Material
10.1 Gas Permeable
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Silicone
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Hydrogel
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Hydrogel
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
11 Latin America Contact Lenses Market by Design
11.1 Spherical Lens
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Toric Lens
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Multifocal Lens
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 Latin America Contact Lenses Market by Application
12.1 Corrective
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Therapeutic
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Cosmetic
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Prosthetic
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
13 Latin America Contact Lenses Market by Distribution Channel
13.1 Eye Care Professionals
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Retail
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Online
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
14 Latin America Contact Lenses Market by Country
14.1 Brazil
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Mexico
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Argentina
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 Chile
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Others
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Trade Data Analysis (HS Code - 900130)
16.1 Major Importing Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Exporting Countries
16.2.1 By Value
16.2.2 By Volume
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Carl Zeiss AG
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 CooperVision, Inc.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Menicon Co., Ltd.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Alcon Inc.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 SynergEyes
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Johnson & Johnson Surgical Vision, Inc.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Solotica
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Bausch + Lomb Corporation
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Fintech Market: Key Industry Highlights, 2018 and 2032
2. Latin America Contact Lenses Market: Key Industry Highlights, 2018 and 2032
3. Latin America Contact Lenses Historical Market: Breakup by Material (USD Million), 2018-2023
4. Latin America Contact Lenses Market Forecast: Breakup by Material (USD Million), 2024-2032
5. Latin America Contact Lenses Historical Market: Breakup by Design (USD Million), 2018-2023
6. Latin America Contact Lenses Market Forecast: Breakup by Design (USD Million), 2024-2032
7. Latin America Contact Lenses Historical Market: Breakup by Application (USD Million), 2018-2023
8. Latin America Contact Lenses Market Forecast: Breakup by Application (USD Million), 2024-2032
9. Latin America Contact Lenses Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
10. Latin America Contact Lenses Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
11. Latin America Contact Lenses Historical Market: Breakup by Country (USD Million), 2018-2023
12. Latin America Contact Lenses Market Forecast: Breakup by Country (USD Million), 2024-2032
13. Latin America Contact Lenses Market Structure

Companies Mentioned

  • Carl Zeiss AG
  • CooperVision, Inc.
  • Menicon Co., Ltd.
  • Alcon Inc.
  • SynergEyes
  • Johnson & Johnson Surgical Vision, Inc.
  • Solotica
  • Bausch + Lomb Corporation

Methodology

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Table Information