Latin America Ophthalmology Therapeutics Market was worth $2.68 billion in 2016 and estimated to be growing at a CAGR of 7.9%, to reach $3.91 billion by 2021. The market is showcasing evident potential in the mentioned forecasting period. Ophthalmology is the branch of medicine concerned with the management of eye defects and diseases.
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Latin America market for Ophthalmology Therapeutics is driven by the growing prevalence for vision impairment. Prevalence of vision impairment varies from 1.1% in Argentina to 4.1% in Guatemala in people aged 50 years and above, with the major cause being cataract. Advancements in technology, increasing geriatric population across the continent are some of the key driving factors for the market. However, limited awareness about the various diseases associated with ophthalmology is a major restraint posed by the market. Unclear reimbursement policies are also one of the major restraint for the market growth.
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Latin America Ophthalmology Therapeutics market is broadly Segmented into Indication and End User. By indication Latin America Ophthalmology Therapeutics market is sub-segmented into Glaucoma, Dry Eye Syndrome, Diabetic Retinopathy, Retinal Vein Occlusion, Age-related Macular Degeneration, Macular Edema and Allergic Conjunctivitis. Glaucoma is the largest indication segment accounting for a share of approximately XX% followed by AMD with a share of XX%. On the basis of end User, the market is segmented into Hospitals, Eye Clinics, Diagnostic Centres and Patients. Geographically, Latin America Ophthalmology Therapeutics market is analysed under various regions namely Brazil, Argentina and Mexico. Within Latin America, Brazil is the largest market for Ophthalmology Therapeutic devices accounting for a share of approximately XX%.
Pfizer Inc., Allergan Inc., Alcon Inc., Merck & co. Inc. and Roche are the major players in the market accounting for a share of approximately XX%. Other major companies covered in the report are Valeant, Regeneron, Santen, Bayer, Senju, Lpath and Eye Gate Pharmaceuticals
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