Pune, India, June 29, 2022 (GLOBE NEWSWIRE) -- The Latin America Eyewear Market Size is set to gain momentum from the increasing geriatric population in the region. Old people are mainly prone to suffering from ophthalmic disorders or vision impairments. This information is given by Fortune Business Insights™ in a new report, titled, “Latin America Eyewear Market Size, Share & COVID-19 Impact Analysis, By Product Type (Spectacles (Frames, Lens), Sunglasses (Plano, Prescription), and Contact Lenses (Toric, Multifocal, and Sphere)); By Distribution Channel (Retail Store, Online Store, and Ophthalmic Clinics), and Country Forecast, 2020-2028.” The report further states that the Latin America eyewear market size was USD 10.80 billion in 2019 and is projected to reach USD 15.05 billion by 2028, exhibiting a CAGR of 6.8% during the forecast period.
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Key Industry Development
September 2020: Essilor introduced its new generation of spectacle lens solutions called Stellest™ lens to fight against myopia. It was designed with the help of the company’s ‘Highly Aspherical Lenslet Target’ or HALT technology.
February 2019: Essilor International acquired majority stakes in a prescription laboratory named Indulentes. It is based in Ecuador. This will help the former to strengthen its presence in the country.
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2020 to 2028 |
| Forecast Period 2020 to 2028 CAGR | 6.8% |
| 2028 Value Projection | USD 15.05 billion |
| Base Year | 2019 |
| Market Size in 2019 | USD 10.80 billion |
| Historical Data for | 2016 to 2018 |
| No. of Pages | 106 |
Market Growth Drivers
Increasing Usage of Smartphones and Computers to Accelerate Growth
The cases of ophthalmic disorders, such as cataract, myopia, and glaucoma are increasing rapidly in Latin America in recent years. The rising usage of digital screens, namely, smartphones, computers, laptops, and televisions is one of the crucial reasons responsible for the higher prevalence of the above-mentioned disorders. The World Health Organization (WHO), for instance, mentioned that more than 25 million people in Caribbean and Latin American countries were affected by age-related macular degeneration in 2019.
Regional Insights
Presence of Established Healthcare Infrastructure to Favor Growth in Mexico
- In 2019, Brazil generated USD 4.17 billion in terms of revenue in the Latin America eyewear industry. The presence of numerous eyewear companies, coupled with the increasing government initiatives would contribute to this growth. Also, the high demand for multiple eyewear products in this country would aid growth.
Click here to get the short-term and long-term impact of COVID-19 on this Market:
https://www.fortunebusinessinsights.com/latin-america-eyewear-market-104573
Market Segmentations:
| Segmentation | By Product
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By Distribution Channel
| |
By Geography
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Competitive Landscape
Key Players Aim to Gain a Competitive Edge by Unveiling State-of-the-art Eyewear Products
The market for eyewear in Latin America contains numerous prominent manufacturers that are presently striving to gain a competitive edge by launching innovative products. The high demand in this region is also boosting these firms to compete with their rivals by generating more sales.
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The Report Lists the Key Companies in the Global Latin America Eyewear Market
- Alcon (Geneva, Switzerland)
- EssilorLuxottica (Charenton-le-Pont, France)
- CooperVision (Lake Forest, California, US)
- Johnson & Johnson Services, Inc. (New Brunswick, New Jersey, US)
- Bausch Health Incorporated (Bridgewater Township, US)
- Carl Zeiss Meditec AG (Oberkochen, Germany)
- LentisPlus.Com(Bogotá, Colombia)
- Safilo Group S.p.A (Padua, Italy)
- Ben & Frank (Ciudad de, Mexico)
- Leco.mx (Mexico City, Mexico)
- Infinit.la (Buenos Aires, Argentina)
- Weblens.com (Mexico City, Mexico)
- Willbloom.cl (Santiago, Chile)
- Other Prominent Player
Table of Contents
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- New Product Launch, By Key Players
- Prevalence of Key Ocular Diseases, By Key Countries
- Overview of Consumer Buying Behavior of Eyewear Products
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Key Trends in the Eyewear Market
- Percentage of Adults Currently Wearing Eyewear, Latin America
- Impact of COVID-19 on Latin America Eyewear Market
- Latin America Eyewear Market Analysis, Insights and Forecast, 2016-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Spectacles
- Frames
- Lenses
- Sunglasses
- Plano
- Prescription
- Contact Lenses
- Toric
- Multifocal
- Sphere
- Spectacles
- Market Analysis, Insights and Forecast – By Distribution Channel
- Retail Store
- Online Store
- Ophthalmic Clinics
- Market Analysis, Insights and Forecast – By Country/Sub-region
- Brazil
- Mexico
- Argentina
- Columbia
- Chile
- Peru
- Ecuador
- Rest of Latin America
- Competitive Analysis
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- Key Industry Developments
- Latin America Market Share Analysis by Key Companies (2019)
- Company Profiles (Overview, Products, SWOT Analysis, Recent Developments, Strategies, Financials (based on availability))
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- Alcon
- EssilorLuxottica
- CooperVision
- Johnson & Johnson Services, Inc.
- Bausch Health Incorporated
- Carl Zeiss Meditec AG
- LentisPlus.Com
- Safilo Group S.p.A
- Ben & Frank
- Leco.mx
- Infinit.la
- Weblens.com
- Willbloom.cl
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- Strategic Recommendations
ToC Continued…
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