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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
