Ophthalmic Devices - Brazil | Statista Market Forecast

The Ophthalmic Devices market market in Brazil is expected to reach a projected revenue of US$868.30m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 6.85%, leading to a market volume of US$1.21bn by 2029.
In the global context, the United States is projected to generate the highest revenue, amounting to US$14.00bn in 2024.
Brazil's ophthalmic devices market is experiencing a surge in demand due to the country's aging population and increasing prevalence of eye-related diseases.

Definition:
Ophthalmic devices refer to medical devices used for diagnosis of eye diseases, related surgeries, and vision correction.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Essilor International, Johnson & Johnson, Bausch Health Companies. Further information on the key players can be found in the Market Shares boxes.

Ophthalmology diagnostic & surgical devices
Vision care

Ophthalmology pharmaceuticals
Ophthalmology supplements

The Ophthalmic Devices market in Brazil is experiencing steady growth due to several factors.

Customer preferences: Customers in Brazil have shown a growing preference for technologically advanced ophthalmic devices. They are increasingly seeking devices that offer improved accuracy, efficiency, and comfort. This is driving the demand for devices such as advanced diagnostic equipment, surgical instruments, and contact lenses. Additionally, there is a growing awareness among customers about the importance of regular eye check-ups, leading to an increased demand for ophthalmic devices.

Trends in the market: One of the key trends in the Ophthalmic Devices market in Brazil is the increasing adoption of refractive surgery. With advancements in surgical techniques and technology, more people are opting for procedures like LASIK to correct their vision. This trend is driven by the desire for freedom from glasses or contact lenses, as well as the convenience and effectiveness of refractive surgery. As a result, there is a growing demand for ophthalmic devices used in refractive surgery, such as excimer lasers and microkeratomes. Another trend in the market is the rising prevalence of eye diseases and disorders. Brazil has a large population, and with increasing life expectancy, the incidence of eye diseases such as cataracts, glaucoma, and age-related macular degeneration is on the rise. This has led to a higher demand for ophthalmic devices used in the diagnosis and treatment of these conditions, such as optical coherence tomography (OCT) machines, intraocular lenses, and surgical instruments.

Local special circumstances: Brazil has a well-established healthcare system that provides access to ophthalmic care for a large portion of the population. However, there are still certain challenges that impact the Ophthalmic Devices market. One such challenge is the economic inequality in the country, which affects access to healthcare services and affordability of ophthalmic devices for some segments of the population. Additionally, the vast size of the country and regional disparities in healthcare infrastructure can pose logistical challenges for the distribution of ophthalmic devices.

Underlying macroeconomic factors: The Ophthalmic Devices market in Brazil is influenced by several macroeconomic factors. Economic growth, rising disposable incomes, and an expanding middle class are driving the demand for healthcare services, including ophthalmic care. Additionally, government initiatives to improve access to healthcare and increase healthcare spending are also contributing to the growth of the market. The aging population in Brazil is another factor that is fueling the demand for ophthalmic devices, as older individuals are more prone to eye diseases and require regular eye care. In conclusion, the Ophthalmic Devices market in Brazil is witnessing steady growth driven by customer preferences for advanced devices, increasing adoption of refractive surgery, rising prevalence of eye diseases, and underlying macroeconomic factors such as economic growth and government initiatives. However, challenges related to economic inequality and healthcare infrastructure need to be addressed to ensure equitable access to ophthalmic devices for all segments of the population.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.