The ”Latin America eyewear market” is set to gain momentum from the increasing geriatric population in the region. Old people are mainly prone to suffering from ophthalmic disorders or vision impairments. This information is given by Fortune Business Insights™ in a new report, titled, “Latin America Eyewear Market Size, Share & Industry Analysis, By Product Type (Spectacles (Frames, Lens), Sunglasses (Plano, Prescription), and Contact Lenses (Toric, Multifocal, and Sphere)); By Distribution Channel (Retail Store, Online Store, and Ophthalmic Clinics), 2020-2027.” The report further states that the Latin America eyewear market size was USD 10.80 billion in 2019 and is projected to reach USD 15.05 billion by 2027, exhibiting a CAGR of 6.8% during the forecast period.
COVID-19 Pandemic to Hinder Growth Fueled by Reduction in Patient Visits
The COVID-19 pandemic has compelled several medical institutions to either postpone or cancel all the non-essential ophthalmic procedures. They are mainly doing this to avoid physical contact with patients for preventing the transmission of the coronavirus. A research conducted by doctors in Goiana, for instance, showed that in 2020, the total number of patient visits in ophthalmic clinics declined by 60.0% in Brazil, unlike the previous year. We are offering accurate research reports to help you pave the way toward success and invest in the Latin America eyewear industry accordingly.
Major Latin America Eyewear Market Key players covered in the report include:
- Alcon (Geneva, Switzerland)
- EssilorLuxottica (Charenton-le-Pont, France)
- CooperVision (Lake Forest, California, US)
- Johnson & Johnson Services, Inc. (New Brunswick, New Jersey, US)
- Bausch Health Incorporated (Bridgewater Township, US)
- Carl Zeiss Meditec AG (Oberkochen, Germany)
- Com(Bogotá, Colombia)
- Safilo Group S.p.A (Padua, Italy)
- Ben & Frank (Ciudad de, Mexico)
- mx (Mexico City, Mexico)
- la (Buenos Aires, Argentina)
- com (Mexico City, Mexico)
- cl (Santiago, Chile)
- Other Prominent Player
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Latin America Eyewear Market Analysis 2021:
Drivers & Restraints-
Increasing Usage of Smartphones and Computers to Accelerate Growth
The cases of ophthalmic disorders, such as cataract, myopia, and glaucoma are increasing rapidly in Latin America in recent years. The rising usage of digital screens, namely, smartphones, computers, laptops, and televisions is one of the crucial reasons responsible for the higher prevalence of the above-mentioned disorders. The World Health Organization (WHO), for instance, mentioned that more than 25 million people in Caribbean and Latin American countries were affected by age-related macular degeneration in 2019. These factors are anticipated to propel the Latin America eyewear market growth in the near future. However, the surging adoption of LASIK surgeries may hamper the demand for eyewear products in this region.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit : https://www.fortunebusinessinsights.com/latin-america-eyewear-market-104573