Contact lenses have a diverse range of applications, features, and uses. They provide vision correction for refractive errors like nearsightedness, farsightedness, and astigmatism. Contact lenses are used in various fields such as sports, where they offer unrestricted peripheral vision and freedom of movement. They also find application in cosmetic purposes with colored and decorative lenses. Specialized designs include multifocal and toric lenses for addressing specific vision needs. With their convenience, comfort, and versatility, contact lenses continue to enhance visual experiences for individuals across different lifestyles and age groups.
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Data Bridge Market Research analyses that the Latin America Contact Lenses Market is valued at USD 12.41 billion in 2021 and is expected to reach USD 21.66 billion by 2029, registering a CAGR of 7.21% during the forecast period of 2022 to 2029. The primary driver of the contact lens market is the increasing demand for vision correction. Contact lenses provide a convenient and effective alternative to traditional eyeglasses for individuals with refractive errors such as nearsightedness, farsightedness, and astigmatism. As the prevalence of these vision problems rises globally, the demand for contact lenses as a preferred vision correction option continues to grow.
Key Findings of the Study
Growing awareness and aesthetic considerations are expected to drive the market's growth rate
Increasing awareness about the benefits and convenience of contact lenses has played a significant role in driving market growth. Contact lenses offer improved peripheral vision, better suitability for sports and outdoor activities, and the absence of visual obstruction compared to eyeglasses. Moreover, the desire for aesthetic appeal, especially among younger populations, has led to a rise in the use of contact lenses for cosmetic purposes, such as colored or decorative lenses.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Spherical Contact Lenses, Toric Contact Lenses, Multifocal Contact Lenses, Monovision Contact Lenses and Others Contact Lenses), Type (Daily Wear Contact Lenses and Extended Wear Contact Lenses), Material Type (Silicone Hydrogel Contact Lenses, Hydrogel Contact Lenses, Rigid Gas Permeable (RGP) Lenses, Hybrid Contact Lenses, Polymethyl Methacrylate Contact Lenses and Others), Application (Corrective, Therapeutic, Cosmetic and Prosthetic), Technology Type (Hydraclear Technology, ASD Technology, PEG Technology, PC Technology, Lacreon Technology, Digital Zone Optics Lens Design Technology, Lightstream Lens Technology, Smart Contact Lens Technology and Others), Modality (Disposable and Conventional), Color Type (Colorless Lenses and Color Contact Lenses), End User (Homecare Setting, Ophthalmology Clinics, Eye Hospital and Others), Distribution Channel (Clinics Stores, E-Commerce, Pharmacies and Others)
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Countries Covered
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Mexico, Brazil, Argentina, Chile, Uruguay, Peru, Colombia, Ecuador, Rest of LATAM.
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Market Players Covered
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STAAR Surgical (U.S), ZEISS International (Germany), Contamac (U.K), X-Cel Specialty Contacts (U.S), Medennium (U.S), SynergEyes (U.S), Bausch + Lomb Incorporated (Canada), Alcon Vision LLC (Switzerland), Carl Zeiss Meditec AG (Germany), Johnson & Johnson Private Limited (US), HOYA Corporation (Japan), The Cooper Companies Inc. (US), Seed Co., Ltd. (Japan), EssilorLuxottica (France), BenQ Materials Corporation (Taiwan), Menicon Co., Ltd. (Japan)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The Latin America contact lenses market is segmented on the basis of product type, type, material type, technology type, modality, application, color type, distribution channel, and end-user.
- On the basis of product type, the market is segmented into spherical contact lenses, toric contact lenses, multifocal contact lenses, monovision contact lenses and others contact lenses.
- On the basis of type, the market is segmented into daily wear contact lenses and extended wear contact lenses.
- On the basis of material type, the market is segmented into silicone hydrogel contact lenses, hydrogel contact lenses, rigid gas permeable (RGP) lenses, hybrid contact lenses, polymethyl methacrylate contact lenses and others.
- On the basis of technology type, the market is segmented into hydraclear technology, ASD technology, PEG technology, PC technology, lacreon technology, digital zone optics lens design technology, lightstream lens technology, smart contact lens technology and others.
- On the basis of modality, the market is segmented into disposable and conventional.
- On the basis of application, the market is segmented into corrective, therapeutic, cosmetic , and prosthetic.
- On the basis of color type, the market is segmented into colorless lenses and color contact lenses.
- On the basis of distribution channel the market is segmented into clinics stores, e-commerce, pharmacies, and others.
- On the basis of end-user the market is segmented into homecare setting, ophthalmology clinics, eye hospital, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the major Latin America contact lenses market players in Latin America contact lenses market are STAAR Surgical (U.S), ZEISS International (Germany), Contamac (U.K), X-Cel Specialty Contacts (U.S), Medennium (U.S), SynergEyes (U.S), Bausch + Lomb Incorporated (Canada), Alcon Vision LLC (Switzerland)
Market Development
- In February 2020, CooperVision (A Cooper Companies Inc Subsidiary) has received FDA popularity of its Biofinity Toric Multifocal Contact Lenses. Following approval, the agency released its product into the market, ensuing in elevated revenue.
- In August 2019, Alcon, Inc., has released PRECISION1 that is a each day disposable touch lenses mane up of silicone hydrogel (SiHy). The agency has deliberate to release this product withinside the 2020 monetary year. The agency will beautify its product portfolio after launching this product.
Regional Analysis
Geographically, the countries covered in the Latin America contact lenses market report Mexico, Brazil, Argentina, Chile, Uruguay, Peru, Colombia, Ecuador, and Rest of LATAM
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