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Latin America Contact Lenses Market Size, Share, Trends, Analysis, Forecast: By Material: Silicone Hydrogel, Hybrid, Gas Permeable; By Design: Spherical Lens, Toric Lens, Multifocal Lens, Others; By Application: Corrective, Therapeutic, Cosmetic, Prosthetic; By Distribution Channel; Regional Analysis; Competitive Landscape; 2023-2028
Latin America Contact Lenses Market Outlook
The Latin America contact lenses market size reached approximately USD 1361.50 million in 2022. The market is further projected to grow at a CAGR of 4.9% between 2023 and 2028, reaching a value of USD 1814.14 million by 2028.
Key Trends in the Market
Contact lenses refer to curved, thin, and clear disks that cover the surface of the eyes and help in improving the vision of the patients. These lenses correct the vision defects that are caused by refractive errors. The lenses are naturally clear but are often given a slight tinge of colour to make their handling easier for the wearer.
- The increasing awareness about the various advantages offered by contact lenses as opposed to wearing glasses is aiding the Latin America contact lenses market growth. Contact lenses offer improved all round vision, are easy to use, and are easy to keep clean. The practical nature of these lenses makes them suitable for sports players and athletes as they fit the eyes properly.
- Increasing emphasis on physical appearance and rising disposable incomes are supporting the market expansion. Contact lenses offer natural appearance to individuals who do not prefer glasses and are also available in different colours, allowing the consumers to alter their eye colour temporarily without causing any hinderance.
- The growing availability of contact lenses across different distribution channels in Latin America including retail stores, online platforms, and eye care professionals is offering lucrative growth opportunities to the market.
Latin America Contact Lenses Market Analysis
On the basis of material, the market is divided into silicone hydrogel, hybrid, and gas permeable. Based on design, the market is classified into spherical lens, toric lens, and multifocal lens, among others. On the basis of application, the market is categorised into corrective, therapeutic, cosmetic, and prosthetic.
Based on distribution channel, the market is divided into eye care professionals, retail, and online. On the basis of country, the Latin America contact lenses market segmentation includes Brazil, Mexico, Argentina, and Chile, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Carl Zeiss AG
- CooperVision, Inc.
- Menicon Co., Ltd.
- Alcon Inc.
- SynergEyes
- Johnson & Johnson Surgical Vision, Inc.
- Solotica
- Bausch + Lomb Corporation
- Others
Market Share by Application
Corrective lenses are expected to account for a significant Latin America contact lenses market share owing to the increasing cases of refractive eye conditions including hyperopia, presbyopia, and myopia, among others in the region. These lenses are designed to help the eyes to focus the light onto the retina so that the individual can see clearly. They fix directly onto the surface of the eye, offering natural view of the field without obstructing the vision.
Market Share by Country
Brazil is anticipated to account for a significant share of the market in the coming years. This growth can be attributed to the increased preference for contact lenses in the region as opposed to spectacles as they enhance the physical appearance of the wearer while providing unobstructed vision. The rising cases of eyesight defects and increasing aging population are boosting the Latin America contact lenses market demand. Well fitted contact lenses stay on the eyes without moving, enhancing the peripheral vision, and are therefore preferred by individuals involved in sports and other physical activities.
Competitive Landscape
CooperVision, Inc., headquartered in California, United States, is one of the leading manufacturers of soft contact lenses across the globe. The company is known for solving tough vision challenges including presbyopia and astigmatism and provides a wide range of multifocal, spherical, and toric products.
Menicon Co., Ltd. is involved in the manufacture, import and export, sales, and marketing of ophthalmic products. The product portfolio of the company comprises of bifocal, soft, hard, and astigmatic contact lenses, among others. Menicon was founded in 1943 and is headquarterd in japan.
Alcon Inc., headquartered in Geneva, Switzerland, is a medical device and pharmaceutical company that specialises in the production of high-quality eye care products. The subsidiaries of the company including Aerie Pharmaceuticals and WaveLight are focused on providing therapies for glaucoma and development of laser eye surgery technologies.
Other Latin America contact lenses market key players include Carl Zeiss AG, SynergEyes, Johnson & Johnson Surgical Vision, Inc., Solótica, and Bausch + Lomb Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Material |
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| Breakup by Design |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 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 Snapshot
7 Opportunities and Challenges in the Market
8 Global Contact Lenses Market Overview
8.1 Key Industry Highlights
8.2 Global Contact Lenses Historical Market (2018-2022)
8.3 Global Contact Lenses Market Forecast (2023-2028)
9 Latin America Contact Lenses Market Overview
9.1 Key Industry Highlights
9.2 Latin America Contact Lenses Historical Market (2018-2022)
9.3 Latin America Contact Lenses Market Forecast (2023-2028)
10 Latin America Contact Lenses Market by Material
10.1 Silicone Hydrogel
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Hybrid
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 Gas Permeable
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
11 Latin America Contact Lenses Market by Design
11.1 Spherical Lens
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Toric Lens
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 Multifocal Lens
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 Others
12 Latin America Contact Lenses Market by Application
12.1 Corrective
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Therapeutic
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Cosmetic
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Prosthetic
12.4.1 Historical Trend (2018-2022)
12.4.2 Forecast Trend (2023-2028)
13 Latin America Contact Lenses Market by Distribution Channel
13.1 Eye Care Professionals
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 Retail
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Online
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
14 Latin America Contact Lenses Market by Country
14.1 Brazil
14.1.1 Historical Trend (2018-2022)
14.1.2 Forecast Trend (2023-2028)
14.2 Mexico
14.2.1 Historical Trend (2018-2022)
14.2.2 Forecast Trend (2023-2028)
14.3 Argentina
14.3.1 Historical Trend (2018-2022)
14.3.2 Forecast Trend (2023-2028)
14.4 Chile
14.4.1 Historical Trend (2018-2022)
14.4.2 Forecast Trend (2023-2028)
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 2028
2. Latin America Contact Lenses Market: Key Industry Highlights, 2018 and 2028
3. Latin America Contact Lenses Historical Market: Breakup by Material (USD Million), 2018-2022
4. Latin America Contact Lenses Market Forecast: Breakup by Material (USD Million), 2023-2028
5. Latin America Contact Lenses Historical Market: Breakup by Design (USD Million), 2018-2022
6. Latin America Contact Lenses Market Forecast: Breakup by Design (USD Million), 2023-2028
7. Latin America Contact Lenses Historical Market: Breakup by Application (USD Million), 2018-2022
8. Latin America Contact Lenses Market Forecast: Breakup by Application (USD Million), 2023-2028
9. Latin America Contact Lenses Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
10. Latin America Contact Lenses Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
11. Latin America Contact Lenses Historical Market: Breakup by Country (USD Million), 2018-2022
12. Latin America Contact Lenses Market Forecast: Breakup by Country (USD Million), 2023-2028
13. Latin America Contact Lenses Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 1361.50 million in 2022.
The market is projected to grow at a CAGR of 4.9% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 1814.14 million by 2028.
The major market drivers include rising availability across different distribution channels and increasing cases of refractive eye conditions.
The key trends fuelling the growth of the market include increased preference for coloured and cosmetic lenses and rising adoption by sports person and athletes.
The major countries in the market are Brazil, Mexico, Argentina, and Chile, among others.
The significant distribution channels include eye care professionals, retail, and online.
The key players in the market are Carl Zeiss AG, CooperVision, Inc., Menicon Co., Ltd., Alcon Inc., SynergEyes, Johnson & Johnson Surgical Vision, Inc., Solotica, and Bausch + Lomb Corporation, among others.
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