The COVID-19 pandemic has exacerbated the unstable economic conditions already seen in Argentina, lowering demand for eye care products in 2020. As consumers face lower disposable incomes, they are expected to remain increasingly price sensitive as a result, eschewing more expensive products.
Sanofi-Synthélabo de Argentina will remain the leading player in eye care in 2020, accounting for just under half of retail value sales. Its flagship brand Irix accounts for all of the company’s eye care sales and comes in two presentations: Irix Tears for dry eye treatment and Irix Eye Drops for red eye treatment.
The two leading brands Irix (Sanofi-Synthélabo) and Usualix (Laboratorio Elea) are the beneficiaries of the most focused marketing efforts in eye care in Argentina in 2020, enjoying a significant presence through multimedia advertising.
The population in Argentina has been ageing in recent years, with no change to this trend expected over the forecast period. The number of people aged 65 and over is expected to continue growing to reach almost six million people in 2025.
Generic products are expected to have a very low presence in eye care into the forecast period, mainly because eye care is led by multinational players with an outstanding performance, and significant investment in communication and promotions. As a result, generics are unlikely to gain a foothold in eye care in coming years with fewer resources and low demand for their products.
Increasing use of computers, tablets and smartphones is one of the main drivers of eye care sales, with this expected to continue contributing strongly to growth over the forecast period. Although there are no official statistics, some studies indicate that dry eye may affect around 40% of the population, thus supporting growth within standard eye care over the review period.
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Understand the latest market trends and future growth opportunities for the Eye Care industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Eye Care research and analysis database.
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