According to the latest report by IMARC Group, titled "Latin America Dry Eye Syndrome Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the Latin America dry eye syndrome market reached a value of US$ 231.9 Million in 2021. Dry eye syndrome refers to a medical condition that occurs due to a lack of adequate lubrication on the surface of the eyes. It can be caused due to multiple factors, such as vitamin deficiency, prolonged screen usage, laser surgeries, autoimmune diseases, menopause and allergies. It is a condition that is characterized by multiple symptoms, including discomfort, burning or stinging sensation, redness, blurry vision, and sensitivity to light aching. Additionally, it also causes disturbance of the lacrimal functional unit, including lacrimal glands, ocular surface and lids. It can generally be treated by eye drops, lacrimal plugs, medications and surgeries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Latin America Dry Eye Syndrome Market Trends:
The market in Latin America is primarily driven by the changing lifestyle patterns of the masses. This can be attributed to the increasing utilization of smartphones and laptops by students and working professionals. Moreover, the rising prevalence of chronic ocular diseases among individuals is providing a thrust to the market. Coupled with the growing geriatric population that is susceptible to various medical illnesses, this is impacting the market growth favorably. Along with this, the increasing adoption of contact lenses and improper diet routines of the masses is also contributing to the rising occurrences of dry eye syndrome. Apart from this, heavy investments by private and public agencies for improving the overall healthcare infrastructure are further catalyzing the market. In addition to this, the increasing awareness regarding the availability of various treatments for dry eye syndrome and the inflating disposable income levels of individuals are creating a positive market outlook. Other factors, including continual technological advancements in the healthcare industry, the growing number of clinical trials and extensive research and development (R&D) activities, are also positively influencing the market across Latin America. On account of the aforementioned factors,?the market is anticipated to reach a value of US$ 339.1 Million by 2027, exhibiting a CAGR of 6.20% during 2022-2027.
- Based on the disease type, the market has been bifurcated into evaporative and aqueous.
- On the basis of drug type, the market has been segmented into anti-inflammatory drugs, lubricant eye drops and autologous serum eye drops.
- Based on the product, the market has been segregated into liquid drops, gel, liquid wipes, eye ointment and others.
- On the basis of the distribution channel, the market has been categorized into hospital, retail and online pharmacies.
- Based on the country, the market has been divided into Brazil, Mexico, Argentina, Colombia, Chile, Peru and others.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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