South & Central America Eye Drops Market Forecast to 2030
South & Central America Eye Drops Market Forecast to 2030 – Regional Analysis – by Type (Antibiotics, Artificial Tears, Hormones, and Others), Application {Eye Diseases (Dry Eye, Glaucoma, Cataract, and Others), Eye Care, and Others}, and Purchase Mode (OTC and Prescription)
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Description
Rising Initiatives for Eye Care Fuels South & Central America Eye Drops Market
In recent years, various measures and efforts have been taken to create awareness and educate people regarding eye diseases, prompting patients to access suitable medications and treatments. For instance, TeleOftalmo is a Brazilian project that offers telemedicine ophthalmology services to improve population access to diagnosis. Also, some pharmaceutical companies are launching projects to provide the general population with access to eye care. For example, Bayer collaborated with the local government to increase access to treatment and develop new eye care centers in a variety of places throughout Brazil, from large cities to rural communities. Furthermore, Argentina’s ROP project is an example of a successful integrated eye care initiative led by the Ministry of Health’s mother and child health program that has been effectively established throughout the health and legal systems. Such initiatives for eye care will likely offer growth opportunities to the eye drop market players.
South & Central America Eye Drops Market Overview
The South & Central America eye drops market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil accounts for a major share of the market in this region. Moreover, it is projected to record the highest CAGR during the forecast period. The rising prevalence of dry eye disease and growing awareness about the benefits of eye drops for its treatment, coupled with developing healthcare facilities, contributes to the rapid growth of the South & Central America eye drops market in South & Central America. Brazil is the largest country in South & Central America, with a vast population. It holds significant potential for the South & Central America eye drops market as various conferences are held in the country for ophthalmology, which encourages exploring different technologies in this specialty. Various studies have been conducted to understand the causes of dry eye conditions. In 2020, Brazil had 30.1 million of the elderly population, representing ~14.3% of the total population. According to the Brazilian Institute of Geography and Statistics (IBGE) estimates (2019), the geriatric population would grow at a rate of 3.6% per year, compared to the 0.2% increase in the total population. As a result, the elderly population would reach 73.4 million by 2060, which will be equivalent to 32.2% of the overall population. These stats indicate significant opportunities for the South & Central America eye drops market with the possible rise in the incidence of age-related ophthalmic diseases.
South & Central America Eye Drops Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Eye Drops Market Segmentation
The South & Central America eye drops market is segmented into type, application, purchase mode, and country.
Based on type, the South & Central America eye drops market is segmented into antibiotics, artificial tears, hormones, and others. The antibiotics segment held the largest share of the South & Central America eye drops market in 2022.
Based on application, the South & Central America eye drops market is segmented into eye diseases, eye care, and others. The eye diseases segment held the largest share of the South & Central America eye drops market in 2022. The eye diseases segment is further segmented into dry eye, glaucoma, cataract, and others.
Based on purchase mode, the South & Central America eye drops market is segmented into OTC and prescription. The prescription segment held a larger share of the South & Central America eye drops market in 2022.
Based on country, the South & Central America eye drops market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America eye drops market in 2022.
AbbVie Inc, Alcon AG, Bausch & Lomb Inc, Pfizer Inc, and Rohto Pharmaceutical Co Ltd are some of the leading companies operating in the South & Central America eye drops market.
Summary Info
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According to the research team Research, the South & Central America eye drops market was valued at US$ 1,017.09 million in 2022 and is expected to reach US$ 1,439.20 million by 2030, registering a CAGR of 4.4% from 2022 to 2030. Rising prevalence of ophthalmic diseases and high incidence of age-related eye diseases are the critical factors attributed to the South & Central America eye drops market expansion.
Eye diseases hold a substantial share in lifestyle diseases due to the increased use of smartphones, laptops, and computers. The modern lifestyle, which involves increased screen time, is responsible for triggering eye-related problems. Eye health is significantly compromised in this technological era. Working on computers for a long time eventually affects the health of the eyes. Individuals with chronic eye problems and refractive errors are at higher risk of developing digital eye strain (DES).
Extreme exposure to blue rays emitting from smartphones, tablets, iPads, and laptops also causes serious eye damage. Due to the COVID-19 outbreak, all companies opted for work-from-home (WFH) to prevent the spread of COVID-19. The growing trend of WFH has intensified the screen time of working professionals, further accelerating the number of eye-related issues. According to a study published by Frontiers, the repeated use of digital devices for more than two continuous hours is putting the user at a great risk of developing DES due to the excessive accommodative demands. Although the spread of COVID-19 has been controlled to a large extent, many companies have allowed their employees to continue with WFH to decrease the overall expenditure. This flexibility with regard to work location has led to an increase in screen time. Such lifestyle changes will eventually damage eye health, generating a greater demand for eye drops.
On the contrary, product recalls hamper the South & Central America eye drops market.
Based on type, the South & Central America eye drops market is segmented into antibiotics, artificial tears, hormones, and others. The antibiotics segment held 38.6% share of South & Central America eye drops market in 2022, amassing US$ 392.98 million. It is projected to garner US$ 566.36 million by 2030 to expand at 4.7% CAGR during 2022–2030.
Based on application, the South & Central America eye drops market is segmented into eye diseases, eye care, and others. The eye diseases segment held 63.9% share of South & Central America eye drops market in 2022, amassing US$ 649.98 million. It is projected to garner US$ 910.91 million by 2030 to expand at 4.3% CAGR during 2022–2030. The eye diseases segment is further segmented into dry eye, glaucoma, cataract, and others.
Based on purchase mode, the South & Central America eye drops market is segmented into OTC and prescription. The prescription segment held 60.3% share of South & Central America eye drops market in 2022, amassing US$ 613.19 million. It is projected to garner US$ 887.49 million by 2030 to expand at 4.7% CAGR during 2022–2030.
Based on country, the South & Central America eye drops market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 66.7% share of South & Central America eye drops market in 2022. It was assessed at US$ 678.60 million in 2022 and is likely to hit US$ 978.51 million by 2030, exhibiting a CAGR of 4.7% during 2022–2030.
Key players operating in the South & Central America eye drops market are AbbVie Inc, Alcon AG, Bausch & Lomb Inc, Pfizer Inc, and Rohto Pharmaceutical Co Ltd, among others.
In May 2023, Bausch + Lomb Corporation received FDA Approval for MIEBO (perfluorohexyloctane ophthalmic solution; formerly known as NOV03), for the treatment of the signs and symptoms of dry eye disease (DED). MIEBO is the first and only FDA-approved treatment for DED that directly targets tear evaporation.
o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America Eye Drops Market.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the South & Central America Eye Drops Market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 The Research Team Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Eye Drops Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 South & Central America PEST Analysis
4.3 Pipeline Analysis
5. South & Central America Eye Drops Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Rising Prevalence of Ophthalmic Diseases
5.1.2 High Incidence of Age-Related Eye Diseases
5.2 Market Restraints
5.2.1 Product Recalls
5.3 Market Opportunities
5.3.1 Rising Initiatives for Eye Care
5.4 Future Trends
5.4.1 Changing Lifestyle
5.5 Impact Analysis
6. Eye Drops Market – South & Central Market Analysis
6.1 South & Central America Eye Drops Market Revenue (US$ Mn), 2022 – 2030
7. South & Central America Eye Drops Market – Revenue and Forecast to 2030 – by Type
7.1 Overview
7.2 South & Central America Eye Drops Market Revenue Share, by Type 2022 & 2030 (%)
7.3 Antibiotics
7.3.1 Overview
7.3.2 Antibiotics: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Artificial Tears
7.4.1 Overview
7.4.2 Artificial Tears: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Hormones
7.5.1 Overview
7.5.2 Hormones: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
8. South & Central America Eye Drops Market – Revenue and Forecast to 2030 – by Application
8.1 Overview
8.2 South & Central America Eye Drops Market Revenue Share, by Application 2022 & 2030 (%)
8.3 Eye Diseases
8.3.1 Overview
8.3.2 Eye Diseases: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
8.3.2.1 Dry Eye
8.3.2.1.1 Overview
8.3.2.2 Dry Eye: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
8.3.2.3 Glaucoma
8.3.2.3.1 Overview
8.3.2.3.2 Glaucoma: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
8.3.2.4 Cataract
8.3.2.4.1 Overview
8.3.2.4.2 Cataract: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
8.3.2.5 Others
8.3.2.5.1 Overview
8.3.2.5.2 Others: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Eye Care
8.4.1 Overview
8.4.2 Eye Care: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
9. South & Central America Eye Drops Market – Revenue and Forecast to 2030 – by Purchase Mode
9.1 Overview
9.2 South & Central America Eye Drops Market Revenue Share, by Purchase Mode 2022 & 2030 (%)
9.3 Prescription
9.3.1 Overview
9.3.2 Prescription: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
9.4 OTC
9.4.1 Overview
9.4.2 OTC: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
10. South & Central America Eye Drops Market – Revenue and Forecast to 2030 – Country Analysis
10.1 South & Central America Eye Drops Market
10.1.1 Overview
10.1.2 South & Central America Eye Drops Market Share by Country – 2022 & 2030, (%)
10.1.2.1 Brazil: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
10.1.2.1.1 Overview
10.1.2.2 Brazil: South & Central America Eye Drops Market- Revenue and Forecasts to 2030 (US$ Million)
10.1.2.2.1 Brazil: South & Central America Eye Drops Market, by Type, 2020–2030 (US$ Million)
10.1.2.2.2 Brazil: South & Central America Eye Drops Market, By Application, 2020–2030 (US$ Million)
10.1.2.2.2.1 Brazil: South & Central America Eye Drops Market, for Eye Diseases by Application, 2020–2030 (US$ Million)
10.1.2.2.3 Brazil: South & Central America Eye Drops Market, By Purchase Mode, 2020–2030 (US$ Million)
10.1.2.3 Argentina: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
10.1.2.3.1 Overview
10.1.2.4 Argentina: South & Central America Eye Drops Market- Revenue and Forecasts to 2030 (US$ Million)
10.1.2.4.1 Argentina: South & Central America Eye Drops Market, by Type, 2020–2030 (US$ Million)
10.1.2.4.2 Argentina: South & Central America Eye Drops Market, By Application, 2020–2030 (US$ Million)
10.1.2.4.2.1 Argentina: South & Central America Eye Drops Market, for Eye Diseases by Application, 2020–2030 (US$ Million)
10.1.2.4.3 Argentina: South & Central America Eye Drops Market, By Purchase Mode, 2020–2030 (US$ Million)
10.1.2.5 Rest of South & Central America: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
10.1.2.5.1 Overview
10.1.2.6 Rest of South & Central America: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
10.1.2.6.1 Rest of South & Central America: South & Central America Eye Drops Market, by Type, 2020–2030 (US$ Million)
10.1.2.6.2 Rest of South & Central America: South & Central America Eye Drops Market, By Application, 2020–2030 (US$ Million)
10.1.2.6.2.1 Rest of South & Central America: South & Central America Eye Drops Market, for Eye Diseases by Application, 2020–2030 (US$ Million)
10.1.2.6.3 Rest of South & Central America: South & Central America Eye Drops Market, By Purchase Mode, 2020–2030 (US$ Million)
11. South & Central America Eye Drops Market–Industry Landscape
11.1 Overview
11.2 Growth Strategies in the Eye Drop Market (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. Company Profiles
12.1 Alcon AG
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Pfizer Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Rohto Pharmaceutical Co Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 AbbVie Inc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Bausch & Lomb Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
13. Appendix
13.1 About Us
13.2 Glossary of Terms
LIST OF TABLES
Table 1. South & Central America Eye Drops Market Segmentation
Table 2. Brazil: South & Central America Eye Drops Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 3. Brazil: South & Central America Eye Drops Market, By Application – Revenue and Forecast to 2030 (US$ Million)
Table 4. Brazil: South & Central America Eye Drops Market, for Eye Diseases by Application – Revenue and Forecast to 2030 (US$ Million)
Table 5. Brazil: South & Central America Eye Drops Market, By Purchase Mode – Revenue and Forecast to 2030 (US$ Million)
Table 6. Argentina: South & Central America Eye Drops Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 7. Argentina: South & Central America Eye Drops Market, By Application – Revenue and Forecast to 2030 (US$ Million)
Table 8. Argentina: South & Central America Eye Drops Market, for Eye Diseases by Application – Revenue and Forecast to 2030 (US$ Million)
Table 9. Argentina: South & Central America Eye Drops Market, By Purchase Mode – Revenue and Forecast to 2030 (US$ Million)
Table 10. Rest of South & Central America: South & Central America Eye Drops Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 11. Rest of South & Central America: South & Central America Eye Drops Market, By Application – Revenue and Forecast to 2030 (US$ Million)
Table 12. Rest of South & Central America: South & Central America Eye Drops Market, for Eye Diseases by Application – Revenue and Forecast to 2030 (US$ Million)
Table 13. Rest of South & Central America: South & Central America Eye Drops Market, By Purchase Mode – Revenue and Forecast to 2030 (US$ Million)
Table 14. Organic Developments in the Eye Drop Market
Table 15. Inorganic Developments in the Eye drop Market
Table 16. Glossary of Terms, South & Central America Eye Drops Market
LIST OF FIGURES
Figure 1. South & Central America Eye Drops Market Segmentation, By Country
Figure 2. South & Central America – PEST Analysis
Figure 3. Pipeline Analysis
Figure 4. South & Central America Eye Drops Market: Key Industry Dynamics
Figure 5. South & Central America Eye Drops Market: Impact Analysis of Drivers and Restraints
Figure 6. South & Central America Eye Drops Market Revenue (US$ Mn), 2020 – 2030
Figure 7. South & Central America Eye Drops Market Revenue Share, by Type 2022 & 2030 (%)
Figure 8. Antibiotics: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Artificial Tears: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. Hormones: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Others: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. South & Central America Eye Drops Market Revenue Share, by Application 2022 & 2030 (%)
Figure 13. Eye Diseases: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. Dry Eye: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Glaucoma: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Cataract: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Others: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Eye Care: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Others: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 20. South & Central America Eye Drops Market Revenue Share, by Purchase Mode 2022 & 2030 (%)
Figure 21. Prescription: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 22. OTC: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 23. South & Central America Eye Drops Market, By Key Country – Revenue (2022) (US$ Million)
Figure 24. South & Central America Eye Drops Market Share by Country – 2022 & 2030, (%)
Figure 25. Brazil: South & Central America Eye Drops Market- Revenue and Forecasts to 2030 (US$ Million)
Figure 26. Argentina: South & Central America Eye Drops Market- Revenue and Forecasts to 2030 (US$ Million)
Figure 27. Rest of South & Central America: South & Central America Eye Drops Market – Revenue and Forecast to 2030 (US$ Million)
Figure 28. Growth Strategies in the Eye Drop Market (%)
List of Companies
o AbbVie Inc
o Alcon AG
o Bausch & Lomb Inc
o Pfizer Inc
o Rohto Pharmaceutical Co Ltd
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