At 5.0% CAGR, South & Central America Myopia Treatment Market is Projected to be Worth US$ 676.01 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America myopia treatment market was valued at US$ 458.52 million in 2022 and is expected to reach US$ 676.01 million by 2030, registering a CAGR of 5.0% from 2022 to 2030. Rising prevalence of myopia and application of artificial intelligence in myopia treatment are among the critical factors attributed to drive the South & Central America myopia treatment market growth.

Artificial intelligence (AI) is increasingly being applied in myopia treatment. One example is using AI-powered devices to monitor and analyze eye movements and visual acuity, which can help identify early signs of myopia and track its progression. AI algorithms can also be used to develop personalized patient treatment plans based on their characteristics and medical history. In the future, AI is expected to play an even greater role in myopia treatment. For instance, researchers are exploring the use of machine learning algorithms to predict children who are at high risk of developing myopia, allowing for early intervention and prevention.

Additionally, AI-powered virtual reality systems may improve visual acuity and reduce myopia progression. Thus, the myopia treatment market is expected to see continued growth and innovation in the coming years. With the increasing prevalence of myopia worldwide, there is a growing need for effective and accessible treatments. Advancements in technology, such as AI and advanced surgical techniques, are expected to drive this growth and lead to more personalized and effective treatments for myopia. Additionally, there will likely be a greater focus on preventative measures and collaboration between industry and academia to address this global health concern.

On the contrary, lack of skilled professionals hampers the growth of South & Central America myopia treatment market.

Based on type, the South & Central America myopia treatment market is segmented into high myopia, degenerative myopia, and progressive myopia. The high myopia segment held 62.4% market share in 2022, amassing US$ 286.03 million. It is projected to garner US$ 436.09 million by 2030 to register 5.4% CAGR during 2022-2030.

In terms of treatment, the South & Central America myopia treatment market is segmented into low-dose atropine eye drops, contact lenses, ortho-k, and refractive surgery. The low-dose atropine eye drops segment held 38.6% share of South & Central America myopia treatment market in 2022, amassing US$ 177.06 million. It is anticipated to garner US$ 269.97 million by 2030 to expand at 5.4% CAGR during 2022-2030. Furthermore, the refractive surgery segment is subcategorized into LASIK and PRK.

By age group, the South & Central America myopia treatment market is bifurcated into adult myopia and childhood myopia. The adult myopia segment held 65.3% share of South & Central America myopia treatment market in 2022, amassing US$ 299.28 million. It is projected to garner US$ 449.41 million by 2030 to expand at 5.2% CAGR from 2022 to 2030.

Based on end user, the South & Central America myopia treatment market is categorized into hospitals and clinics, specialty clinics, and refractive surgery centers. The hospitals and clinics segment held 65.6% share of South & Central America myopia treatment market in 2022, amassing US$ 300.71 million. It is predicted to garner US$ 454.67 million by 2030 to expand at 5.3% CAGR between 2022 and 2030.

Based on country, the South & Central America myopia treatment market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 43.7% share of South & Central America myopia treatment market in 2022. It was assessed at US$ 200.22 million in 2022 and is likely to hit US$ 309.41 million by 2030, registering a CAGR of 5.6% during 2022-2030.

Key players operating in the South & Central America myopia treatment market are Bausch Health Companies Inc, Alcon AG, CooperVision Inc, Johnson & Johnson Vision Care Inc, Nidek Co Ltd, and Carl Zeiss AG, among others.

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