MARKET OUTLOOK
The ophthalmology drugs and devices market in Latin America has been projected to burgeon with a CAGR of 6.89% during the forecast years 2019-2027, according to a report by Triton Market Research.
Brazil, Mexico and countries in rest of Latin America together form the market for ophthalmology drugs and devices in the Latin American region.
Risks associated with the treatment of ocular diseases are creating challenges for the growth of the ophthalmology drugs and devices market. For instance, different surgeries for the treatment of eye disorders such as cataract surgery, glaucoma surgery and vitreoretinal surgery have complications associated with them. As per the Mayo Clinic organization, in cataract surgery, there are some complications such as infection, inflammation, swelling, bleeding, dislocation of the artificial lens, drooping eyelid, glaucoma, retinal detachment, loss of vision and secondary cataract. In addition to this, the risk of complication is more in a person if one has another ophthalmic disease or a serious medical condition. On the other hand, risks associated with glaucoma surgery include vision loss, bleeding inside the eye, infection inside the eye and low eye pressure. Further, vitrectomy surgeries may have complications associated with the surgery, such as cataracts, raised pressure inside the eye, more bleeding in vitreous, retinal detachment, damage to the eye’s lens and more. Thus, various risks and complications associated with the treatment of ocular diseases are creating a challenge for the growth of the ophthalmology drugs and devices market.
COMPETITIVE OUTLOOK
The notable players in the market are Allergan, Inc., Carl Zeiss AG, GlaxoSmithKline, Novartis International AG and Roche Holding AG.