South & Central America Glaucoma Therapeutics Market

The South & Central America glaucoma therapeutics market was valued at US$ 352.85 million in 2023 and is expected to reach US$ 428.75 million by 2031; it is estimated to register a CAGR of 2.5% from 2023 to 2031.

Development of Wearable Technologies Fuels South & Central America Glaucoma Therapeutics Market

Technological innovation has always been fundamental to any discipline of life sciences, including ophthalmology, as modern devices are key to accurate diagnosis and improved treatments. Advancements in treatments have enabled the improved treatment of glaucoma. Wearable glaucoma diagnostics and therapeutics products have emerged as potential solutions. Conventional diagnostic techniques provide reliable intraocular pressure data, while innovative contact lenses such as Sensimed Triggerfish offer continuous IOP tracking. Advanced drug-eluting contact lenses are also emerging as a potential solution for glaucoma therapy. n March 2023, SpyGlass Pharma released 6-month data from its first-in-human glaucoma treatment trial. The data shows that its new drug delivery platform, which is a single-piece, hydrophobic acrylic intraocular lens with drug-eluting pads, continues to significantly lower IOP in patients suffering from glaucoma or ocular hypertension. Thus, the development of such modern wearable products is likely to propel the demand for glaucoma therapeutics in the coming years.

South & Central America Glaucoma Therapeutics Market Overview

The South & Central America glaucoma therapeutics market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil is expected to have a significant market share in this region. Also, it is projected to record the highest growth rate. In Brazil, POAG is the most common type of glaucoma, accounting for ~80% of cases. Developing healthcare facilities, rising prevalence of glaucoma, and growing R&D activities by research organizations in the region are expected to contribute to the rapid growth of the glaucoma therapeutics market. According to an article published in SciELOBrazil in February 2021, glaucoma was the leading cause of blindness in Brazil. By 2030, an estimated 95.4 million people in Brazil will have glaucoma. Numerous ophthalmology conferences are being held in the country, which aid in exploring different technologies in the medical field. In addition, the demand for glaucoma therapeutics is rising due to growing medical tourism in the country. Brazil has multiple Joint Commission International (JCI)-accredited hospitals that meet global standards. These hospitals have advanced medical technology and highly skilled professionals, and they offer various specialties, including ophthalmology, noninvasive surgeries, and cardiology. According to an article published in the VHL Regional Portal in May 2023, a study of patients referred by general ophthalmologists to the clinic for suspected glaucoma at a tertiary public hospital in southern Brazil from March 2016 to December 2018 was conducted. The study, including 135 patients from other countries, concluded that the patients with the normal tension glaucoma had a more advanced stage of the disease at the time of diagnosis. This signifies that patients from developed countries are traveling to developing countries such as Brazil to seek advanced medical diagnoses and treatments offered by the country.

Brazil is experiencing a rise in the geriatric population, which is expected to increase the demand for ophthalmology products. In 2020, the elderly population was 30.1 million, representing ~14.3% of the population. The Brazilian Institute of Geography and Statistics (IBGE) estimates (2019) show that this age group will grow at a rate of 3.6% per year, reaching 73.4 million by 2060, which will be equal to 32.2% of the population. Thus, growing medical tourism and rising geriatric population are expected to propel the market growth during the forecast period.

South & Central America Glaucoma Therapeutics Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Glaucoma Therapeutics Strategic Insights

Strategic insights for the South & Central America Glaucoma Therapeutics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Glaucoma Therapeutics Report Scope

South & Central America Glaucoma Therapeutics Regional Insights

The geographic scope of the South & Central America Glaucoma Therapeutics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

South & Central America Glaucoma Therapeutics Market Segmentation

The South & Central America glaucoma therapeutics market is categorized into drug class, indication, distribution channel, and country.

Based on drug class, the South & Central America glaucoma therapeutics market is segmented into beta blockers, alpha adrenergic agonists, prostaglandins analogues, carbonic anhydrase inhibitors, combination drugs, and others. The prostaglandins analogues segment held the largest market share in 2023.

In terms of indication, the South & Central America glaucoma therapeutics market is categorized into open angle glaucoma, angle closure glaucoma, and others. The open angle glaucoma segment held the largest market share in 2023.

By distribution channel, the South & Central America glaucoma therapeutics market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment held the largest market share in 2023.

By country, the South & Central America glaucoma therapeutics market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America glaucoma therapeutics market share in 2023.

Alcon AG, AbbVie Inc, Bausch & Lomb Inc, LLC, Viatris Inc, Novartis AG, Sun Pharmaceutical Industries Ltd, Teva Pharmaceuticals Industries Ltd, Thea Pharma Inc, and Santen Pharmaceutical Co., Ltd. are among the leading companies operating in the South & Central America glaucoma therapeutics market.