At 3.7% CAGR, the South America Vision Care Market is projected to be worth US$ 3,335.24 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the South America vision care market was valued at US$ 2,675.38 million in 2022 and is expected to reach US$ 3,335.24 million by 2028, registering a CAGR of 3.7% from 2022 to 2028. Growing prevalence of eye diseases and development of innovative products are the critical factors attributed to the South America vision care market expansion. 

A wide variety of eye diseases, including cataracts, glaucoma, and refractive errors, are prevalent across the South America.

Further, the increasing age of populations and workforces in the region, and the increased visual demands of modern occupations underline the impact of low vision and blindness on economies. Thus, a high prevalence of vision impairment and blindness in the region boosts the growth of the vision care market. This is expected to drive the South America vision care market during the forecast period.

On the contrary, adverse effects of contact lens on eye condition hurdles the growth of South America vision care market. 

Based on type, the South America vision care market is categorized into eyeglasses, contact lens, intraocular lens, and others. The eyeglasses segment held 53.3% market share in 2022, amassing US$ 1,478.14 million. It is projected to garner US$ 1,834.15 million by 2028 to expand at 4.3% CAGR during 2022–2028.

Based on distribution channel, the South America vision care market is categorized into retail stores, e-commerce, clinics, and hospitals. The retail stores segment held 45.9% market share in 2022, amassing US$ 1,228.42 million. It is projected to garner US$ 1,552.82 million by 2028 to expand at 4.0% CAGR during 2022–2028.

Based on country, the South America vision care market has been categorized into Brazil, Argentina, and the Rest of South America.  Our regional analysis states that Brazil captured 66.1% share of South America vision care market in 2022. It was assessed at US$ 1,768.19 million in 2022 and is likely to hit US$ 2,235.47 million by 2028, exhibiting a CAGR of 4.0% during the forecast period.  

Key players dominating the South America vision care market are Alcon Inc.; Bausch Health Companies Inc.; Carl Zeiss AG; Cooper Companies Inc; Essilor International SAS; Johnson & Johnson; Hoya Corp; Rodenstock GMBH; Menicon Co., Ltd; and Rayner Intraocular Lenses Limited among others.

• In Jan 2018, Johnson & Johnson Vision expanded offering for 1-DAY ACUVUE MOIST brand.
• In June 2022, CooperVision Acquires EnsEyes to Accelerate Nordic Region Specialty Contact Lens Growth.

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