[333 Pages Report] The global myopia and presbyopia treatment market is expected to reach a market valuation of USD 17.9 Billion by the year 2022, accelerating with a CAGR of 8.5% by 2022-2032. The myopia and presbyopia treatment market share is anticipated to be valued at about USD 40.5 Billion by 2032 end.
Soaring myopia-related vision loss incidences and the frequency of myopia-related distant visual impairments are two of the key reasons that are anticipated to boost the myopia and presbyopia treatment market share. Secondly, during the course of the forthcoming years, the myopia and presbyopia market size is anticipated to rise given the increasing prevalence of nearsightedness on a massive level.
| Attributes | Value |
|---|---|
| Myopia and Presbyopia Treatment Market Size (2022) | USD 17.9 Billion |
| Myopia and Presbyopia Treatment Market Projected Size (2032) | USD 40.5 Billion |
| Myopia and Presbyopia Treatment Market Growth CAGR (2022 to 2032) | 8.5% |
According to the global market study on myopia and presbyopia treatment services, around the world, presbyopia affected more than 2.1 Billion people in the year 2020. As per the estimates of UN World Health Organization (WHO), untreated presbyopia affected over 826 Million of people globally in the year 2020. Consequently, over the projection period, it is anticipated that the emerging nations would see a considerable development in the adoption of myopia and presbyopia treatment services.
Elderly people those are in their early 40s and the expanding aging population who are at risk for eyesight loss-are majorly driving the myopia and presbyopia treatment market growth. Moreover, it is expected that the demand for myopia and presbyopia treatment might increase as the imbalanced lifestyle of a large section of society results in many kind of eyesight problem conditions.
Corneal inlays are an additional cutting-edge alternative for people with presbyopia which in turn is emerging as the major attraction in the global myopia and presbyopia market share. Besides, the advent of cutting-edge lenses namely implantable contact lenses and intraocular phakic intraocular lenses (PIOL) is anticipated to propel the myopia and presbyopia treatment market trends in the coming years.
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On account of modern day breakthroughs in ocular lenses, it is anticipated the emerging trends in myopia and presbyopia treatment services would be instrumental in popularizing the market.
Internationally, there is a huge surge in the need for treatment choices including contact, concave, or prescription lenses that is anticipated to strengthen the global demand for myopia and presbyopia treatment facilities. The healthcare sector of various nations are also concentrating on enhancing patient flow, and as a result, they are also thinking about expanding the number of myopia and presbyopia treatment clinics.
Amongst the most cutting-edge methods for treating presbyopia is presbyLASIK OR multifocal LASIK that is anticipated to steer the myopia and presbyopia treatment market future trends ahead. However, despite the convenience of modern day LASIK surgeries, the myopia and presbyopia treatment market opportunities is also expected to strengthen for patients experiencing dry eyes condition.
Untreated presbyopia is one of the main issues that will have a significant limiting effect on the global myopia and presbyopia market. Many individuals still don't understand the aetiology of presbyopia, which leads to delayed diagnoses and less adoption of myopia and presbyopia treatment services.
Hardly two corneal inlays have been given approval to treat presbyopia at this time posing as a major restraint for the overall myopia and presbyopia market growth. However, the myopia and presbyopia market key trends and opportunities is anticipated to be aided by an expanding product portfolio and an increase in active innovations in the coming days.
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Over the years of myopia and presbyopia treatment market adoption trends, the typical recovery period for ocular procedures has been drastically shortened, thanks to cutting-edge technological solutions.
In conformity with the myopia and presbyopia market statistics, the sector with the highest revenue share by the end of year 2021— accounting for more than 30% is the single prescription lenses. Reason being, in recent years myopia treatment is getting more common in emerging nations with the rising need for corrective lenses. The patient base has expanded considerably, which is helping to boost the myopia and presbyopia market size by contribution of the single prescription lenses market segment.
On the other hand, the popularity of the surgical procedures is being influenced by its attributes including minimally invasiveness, precision, and speed. Consequently, encouraging the demand for myopia and presbyopia treatment services for this segment. During the projection period of 2022 to 2032, there will likely be an upward turn in myopia ad presbyopia market trends and forecast owing to increasing popularity of surgery segment with the readily available cutting-edge equipment and dropping service prices.
On the report of myopia and presbyopia treatment market survey until 2021, the most significant revenue share—more than 25%—was captured by prescription lenses segment. Additionally, bifocal, multifocal, monovision, and modified monovision contact lenses fall within these categories constituting the sub-segments covered by this myopia and presbyopia market analysis report.
Presbyopia can be effectively treated using conductive keratoplasty surgery, LASIK, LASEK, and PRK, among other refractive surgical techniques that have started contributing to the myopia and presbyopia market growth remarkably in recent times. The surgical procedure segment or LASIK is extensively used to cure presbyopia in high income countries.
Therefore, it is anticipated that the rapid spread of these presbyopia treatment options and growing preference for LASIK surgery would promote the all-inclusive myopia and presbyopia treatment business throughout the course of the projection period.
All things considered, due to the rising popularity of correcting presbyopia, the progressive multifocal section is anticipated to see the quickest growth over the course of the projected period. Additionally, throughout the forecast period, multifocal sub segments including those with photochromic lenses and anti-reflexive coatings are anticipated to drive the overarching myopia and presbyopia market growth
Owing to the accessibility of cutting-edge technologies for managing the various targeted myopia treatment types, as well as the presence of numerous market players, North America holds the leading position in the overall market with a capitalization of over 20.0%. And therefore, this region, particularly USA myopia and presbyopia treatment market is anticipated to maintain its dominance over the course of the forecast period.
On a similar note, presbyopia affects around 128 Million individuals in the United States only. And one-third of these people come under above 50 years age group bracket.
Due to the enlarging senior population count, the high prevalence of myopia-related eye treatments, and the rise in healthcare services, the Asia Pacific region is anticipated to see the sharpest growth in myopia and presbyopia treatment market trends throughout the projected period.
The market for myopia and presbyopia treatments in the regional market is anticipated to be driven by consumers' improving understanding of focused myopia therapy. Additionally, the regions comprising East Asia, South Asia, and Southeast Asia have the highest rates of vision problems that amounts to more than twice as many cases as other areas.
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Myopia and presbyopia treatment market participants are concentrating on implementing growth initiatives, such as improvements to current technology, introduction of effective procedures, and consolidations. Myopia and presbyopia market leaders are also planning for investments in R&D to facilitate early diagnosis and create effective and speedy operating approaches to guarantee field uniqueness and solidify their market position.
Major myopia and presbyopia treatment companies like Johnson & Johnson, Essilor, and Zeimer Ophthalmic Systems AG are increasing their partnerships to create cutting-edge methodologies and therapeutic approaches to deliver better and more effective therapy for myopia and presbyopia patients.
Recent Developments in Global Myopia and Presbyopia Treatment Market
The myopia and presbyopia treatment market is expected to grow at 8.5% CAGR over 2022-2032.
The myopia and presbyopia treatment market is estimated to be around US$ 17.9 Billion in 2022.
The myopia and presbyopia treatment market is anticipated to reach a valuation of US$ 40.5 Billion by 2032.
The single prescription treatment segments contributes almost 30%.
North America is the most lucrative region for myopia and presbyopia treatment market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Treatment Type 5.1. Myopia 5.2. Presbyopia 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to2032, By Region 6.1. North America 6.2. Latin America 6.3. Europe 6.4. Asia Pacific 6.5. Middle East and Africa 7. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 8. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Key Countries Market Analysis 13. Market Structure Analysis 14. Competition Analysis 14.1. Zeimer Ophthalmic Systems AG 14.2. NIDEK CO. LTD. 14.3. Johnson & Johnson Vision 14.4. ZEISS International 14.5. ALCON VISION LLC 14.6. Bausch & Lomb Incorporated 14.7. Haag-Streit UK 14.8. Topcon Corporation 14.9. Essilor Ltd. 15. Assumptions & Acronyms Used 16. Research Methodology
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Myopia and Presbyopia Treatment Market
