Market Trends of Mexico Ophthalmic Devices Industry
This section covers the major market trends shaping the Mexico Ophthalmic Devices Market according to our research experts:
The Contact Lenses Segment is Expected to Witness Significant Growth Over the Forecast Period.
The factors contributing to the dominance of the contact lenses segment are high awareness regarding the availability of contact lenses and their advantages. The rising population with eye-related disorders is also driving the contact lenses segment, while the aging population is expected to burden all areas of healthcare. The contact lenses are expected to show growth because they are convenient to use, don't need daily cleaning, and are considered safer for the eye as they reduce the risk of allergies and infections.
According to the AARP International 2021 report, the Mexican population of those above 65 is projected to grow by 175.8%, from 14.5 million in 2015 to over 40 million by 2050. As the aging population increases, more people are likely to face eye-related disorders like cataracts and glaucoma, which impair vision and, at some point, prevent them from performing simple, everyday activities, thereby increasing the demand for contact lenses, thus driving the growth of this segment.
Similarly, as per the AARP's analysis, about 50% of Mexico's general population requires optometric services and the Mexico Optometry Council has declared necessary guidelines to raise awareness of eye care and to provide quality eye care services to prevent the increase in visual impairment and blindness in Mexico. Thus, the increasing number of eye disorders and the awareness initiatives by Mexico's organization is expected to increase the demand for contact lenses in the country, and the segment is expected to grow.
Furthermore, expected innovation in the coming years is likely to focus mainly on disposable lenses, and technological advancements in this segment are expected to boost the market over the forecast period. For instance, in June 2022, Bausch + Lomb launched Revive's custom soft contact lenses, a new family of customizable soft contact lenses. These are available in spherical, toric, multifocal, and multifocal toric options and are designed to meet the vision needs of more patients, including those with high or unique prescriptions. They are available in all the countries of North America including Mexico.
Corneal Topography Systems Under Diagnostic and Monitoring Devices is Expected to Witness Significant Growth Over the Forecast Period
Corneal topography produces a detailed, visual description of the shape and power of the cornea. This type of analysis provides the doctor with fine details regarding the condition of the corneal surface. These details diagnose, monitor, and treat various eye conditions. The increasing prevalence of eye diseases and a growing geriatric population is driving the growth of this segment over the forecast period.
The rising geriatric population reported in the country is more prone to various ophthalmic diseases, and corneal topography provides a detailed visualization of the eye-related disorder, thereby contributing to the growth of this segment. For instance, an article published by JOO in March 2021 reported the high prevalence of eye disorders among the geriatric population of Mexico. The article also reported that a significant increase in eye disorders among children in Mexico was noticed over the last decade. Since the corneal topography system is advanced and successful in eye detection, the segment is expected to witness significant growth over the forecast period.
Furthermore, the Mexico Institute of Opthalmology in February 2022, reported that rising cases of cataracts were reported among the geriatric population. Thus, the increasing cases of cataracts among the geriatric population are propelling the demand for corneal tomography for detection of this disease, thereby contributing to this segment's growth.
