Eye care products suffered a great shock in volume terms in 2016 due to shortages of imported components, resulting in the exit of many brands. In 2017, the category seems to have stabilised at a low supply level provided by one local manufacturer, occasional supplies of imported products or some marginal production by small companies.
Eye care typically is very limited as many consumers see these products as nonessential and niche, unless they are regular users of contact lenses or have a specific eye issues, such as dry eye. Venezuelan consumers are not very concerned about the side effects of the use of digital devices, and are not that aware of aged-related macular degeneration (AMD).
Local manufacturer Laboratorios Oftalmi strengthened its leadership in 2017. The company benefits from domestic production in a context of import restrictions that have driven away important brands manufactured by major competitors, such as MSD (Garason and Gentalyn) and Alcon Pharmaceuticals (Systane).
Laboratorios Oftalmi offers two standard eye care brands, Clarasol and Lacrifort, and one allergy eye care brand, Garabet. No other significant players are left in this category.
Eye care remains one of the least dynamic categories of consumer health in Venezuela. As its size is very small compared with other mature, larger categories, players generally allocate few resources to marketing and development.
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Understand the latest market trends and future growth opportunities for the Eye Care industry in Venezuela with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Eye Care industry in Venezuela, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Eye Care research and analysis database.
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