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Brazil Ophthalmic Lenses Market CAGR of 3.2% During the Forecast Period, i.e., 2021-2028, And Revenue of USD 3303.90 Million

The statistics portray the growing aging population in Brazil and therefore the rise in concern for the prevalence of various vision related disorders amongst the population. It has been observed scientifically that with growing age, individuals undergo numerous vision related disorders, such as presbyopia, myopia, hyperopia, and others. These disorders are caused as the flexibility of the lens inside the eye reduces over time. The growing need amongst individuals to undergo treatment for these vision related disorders, is therefore anticipated to drive the growth of the Brazil ophthalmic lenses market.

The Brazil ophthalmic lenses market is estimated to grow with a CAGR of 3.2% during the forecast period, i.e., 2021-2028. The market, which recorded a market revenue of USD 3303.90 Million in the year 2019 is further expected to attain USD 3575.60 Million by the end of 2028.

Research Nester has released a report titled Brazil Ophthalmic Lenses Market – Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.

In Brazil, the population aged 65 and above as a share of its total population, reached 9.252% in 2019 from 6.821% in 2010, according to the statistics by the World Bank.

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The market is segmented by type into spectacle lenses and contact lenses. Out of these segments, the spectacle lenses segment is expected to hold the largest share of the market throughout the forecast period, owing to the increasing use of spectacle lenses to treat a variety of vision disorders, which otherwise can’t be treated with contact lenses, followed by the lower price of these lenses as compared to contact lenses. On the other hand, the contact lenses segment is anticipated to grow with the highest CAGR of 4.8% during the forecast period.

However, the concern for the surging cost of ophthalmic lenses is projected to hamper the market growth during the forecast period.

This report also provides the existing competitive scenario of some of the key players of the Brazil ophthalmic lenses market, which includes company profiling of HOYA VISION CARE COMPANY, SynergEyes, Carl Zeiss AG, Johnson & Johnson Vision Care, Inc., Alcon Vision LLC, Bausch & Lomb Incorporated, Sky Optical LLC (Solotica Brazil), HTK LENTES OFTALMICAS SA, and others.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Brazil Ophthalmic Lenses Market – Demand Analysis & Opportunity Outlook 2028”, analyses the overall Brazil ophthalmic lenses industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Brazil ophthalmic lenses market in the near future.

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