South America Dry Eye Products Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Artificial Tears, Antibiotic Drops, Hormone Drops, and Others) and Type (OTC Drugs and Prescription Drugs)
The dry eye products market in SAM is expected to grow from US$ 248.58 million in 2021 to US$ 315.21 million by 2028; it is estimated to grow at a CAGR of 3.3% from 2021 to 2028.
The SAM market is segmented into Brazil and the Rest of SAM. Brazil is expected to hold a major market share in the region during the forecast period. The market is likely to experience lucrative growth opportunities owing to rising developments by companies in the medical facilities. The Rest of SAM consists of countries such as Chile, Colombia, and Peru. These countries are witnessing fair growth in the dry eye products market owing to the growing prevalence of diabetes. In Chile, 3,466 people affected by diabetes, or one in 200, had an amputation in 2014, and more than 16,000 received treatment for foot ulcers. During the last decade, the rate of amputations in patients suffering from diabetic foot ulcer has increased by 28% in Chile. During the studies, it was found that mesenchymal cells assist in improving tear volume, tear-film stability, epithelial recovery, and the number of goblet cells. The cells help in decreasing the number of meibomian gland injuries in the conjunctiva, which is expected to be the most promising advancement for the dry eye condition treatment. The other stem cell therapy-based treatment is by using lubricin. Lubricin is a protein present in the tear film that allows lubrication in between eye surface and eyelid. The researchers are aiming to introduce proper treatment that can cure dry eye conditions completely. Thus, advancements in the healthcare industry that has allowed integration of biotechnology and pharmaceutical are likely to propel the market growth during the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. Thus, the SAM dry eye products market is expected to grow at a good CAGR during the forecast period.
SAM Dry Eye Products Market Revenue and Forecast to 2028 (US$ Million)
SAM Dry Eye Products Market Segmentation
SAM dry eye products market is segmented into product, type, and country. Based on product the dry eye products market is segmented into artificial tears, antibiotic drops, hormone drops, and others. The artificial tears segment held the largest share of the market in 2021. Based on type the dry eye products market is segmented into prescription drugs and OTC drugs. OTC drugs segment held the largest share of the market in 2021. Based on country, the SAM dry eye products market is segmented into Brazil, Argentina, and rest of SAM. Brazil held the largest market share in 2021.
Abb Vie Inc.; Bausch Health Companies Inc; Johnson and Johnson Services, Inc; Novartis AG; OASIS Medical; OCu SOFT Inc; Prestige Consumer Healthcare Inc.; ROHTO Pharmaceutical Co., Ltd; Santen Pharmaceutical Co., Ltd; and URSAPHARM Arzneimittel Gmb H are among the leading companies in the SAM dry eye products market.
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