Brazil Ophthalmic Devices Market - Growth, Trends, and Forecast (2019 - 2024)
SKU ID :INH-13347334 | Published Date: 01-Mar-2019 | No. of pages: 69Description
Market Overview
The Brazilian ophthalmic devices market is expected to register a CAGR of 5.3% during the forecast period. Cataract, one of the leading causes of blindness in developing countries, is widely prevalent in Brazil. The ophthalmic device market in Brazil is expected to grow, due to the presence of a universal healthcare system providing coverage for the underserved, rising number of eye-related diseases and disorders, and greater awareness among people. Furthermore, the increasing availability of new ophthalmic devices and advanced techniques are favoring the growth of the market.
Scope of the Report
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.
Key Market Trends
Cataract Surgery Devices hold the Largest Share In Surgical Devices Segment.
The factors attributing to the dominance of cataract surgery devices segment are a larger patient pool, high awareness, availability of therapy, and affordability. Cataract volume has seen a rapid increase in recent years. Brazil has a universal public healthcare system (Sistema Único de Saúde – SUS) under which surgeries are provided without cost to those in need. However, despite the presence of a universal healthcare system, cataract remains the major cause of blindness in Brazil.
According to ECLAC's 2014 Statistical yearbook for Latin America, the percentage of the aging population (65 + years) is expected to almost double to 13.7% by 2030, from 6.9% in 2010. The rising geriatric population is driving the cataract surgery segment, while the aging population is expected to burden all areas of healthcare. The effect is even more prominent in the case of eye diseases as such ophthalmologists provide approximately 90% of their procedure-based services to seniors. Furthermore, according to a study which analyzed the prevalence of cataract in the Sao Paulo state of Brazil, 61% of the affected people were aged 50 years or older.
Cataract surgery is the most frequent ophthalmic surgical procedure performed in Brazil, providing significant improvements in the quality of life to the elderly population at a low cost. High-volume cataract surgery is now carried out predominantly on a same-day basis in Brazil which is contributing to the need for technologically advanced ophthalmic surgical and diagnostic devices.
Competitive Landscape
The Brazilian ophthalmic devices market is consolidated and is highly competitive. The Brazilian market is dominated by a few global players. Most of the complex surgical, monitoring and diagnostic devices are imported from developed countries, especially from the United States. Most of the global firms have a direct presence in Brazil, with some operating through a network of local distributors.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
The Brazilian ophthalmic devices market is expected to register a CAGR of 5.3% during the forecast period. Cataract, one of the leading causes of blindness in developing countries, is widely prevalent in Brazil. The ophthalmic device market in Brazil is expected to grow, due to the presence of a universal healthcare system providing coverage for the underserved, rising number of eye-related diseases and disorders, and greater awareness among people. Furthermore, the increasing availability of new ophthalmic devices and advanced techniques are favoring the growth of the market.
Scope of the Report
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.
Key Market Trends
Cataract Surgery Devices hold the Largest Share In Surgical Devices Segment.
The factors attributing to the dominance of cataract surgery devices segment are a larger patient pool, high awareness, availability of therapy, and affordability. Cataract volume has seen a rapid increase in recent years. Brazil has a universal public healthcare system (Sistema Único de Saúde – SUS) under which surgeries are provided without cost to those in need. However, despite the presence of a universal healthcare system, cataract remains the major cause of blindness in Brazil.
According to ECLAC's 2014 Statistical yearbook for Latin America, the percentage of the aging population (65 + years) is expected to almost double to 13.7% by 2030, from 6.9% in 2010. The rising geriatric population is driving the cataract surgery segment, while the aging population is expected to burden all areas of healthcare. The effect is even more prominent in the case of eye diseases as such ophthalmologists provide approximately 90% of their procedure-based services to seniors. Furthermore, according to a study which analyzed the prevalence of cataract in the Sao Paulo state of Brazil, 61% of the affected people were aged 50 years or older.
Cataract surgery is the most frequent ophthalmic surgical procedure performed in Brazil, providing significant improvements in the quality of life to the elderly population at a low cost. High-volume cataract surgery is now carried out predominantly on a same-day basis in Brazil which is contributing to the need for technologically advanced ophthalmic surgical and diagnostic devices.
Competitive Landscape
The Brazilian ophthalmic devices market is consolidated and is highly competitive. The Brazilian market is dominated by a few global players. Most of the complex surgical, monitoring and diagnostic devices are imported from developed countries, especially from the United States. Most of the global firms have a direct presence in Brazil, with some operating through a network of local distributors.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
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