Myopia and Presbyopia Treatment Market Size 2024-2028 

The myopia and presbyopia treatment market size is forecast to increase by USD 9.8 billion at a CAGR of 9.05% between 2023 and 2028. The market is experiencing significant growth due to the increasing prevalence of these vision conditions worldwide, driving the demand for ophthalmology surgical devices. Myopia, also known as nearsightedness, and presbyopia, a natural aging process affecting the ability to focus on near objects, are common vision impairments that can significantly impact an individual's quality of life. The market is driven by recent developments in myopia and presbyopia treatment, including advanced surgical procedures and innovative contact lenses. However, the high cost of these treatments remains a significant challenge, limiting accessibility for many individuals. Despite this, the market is expected to continue growing due to the increasing awareness and demand for effective vision correction solutions.

What will be the Size of the Myopia and Presbyopia Treatment Market During the Forecast Period?

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Myopia and presbyopia are common vision impairments affecting millions of people worldwide. Myopia, also known as nearsightedness, causes difficulty in seeing objects at a distance, while presbyopia is an age-related condition that makes it hard to focus on nearby objects. The increasing geriatric population and ageing adults are major contributors to the growth of vision care. Various treatment options are available for these conditions, including corneal inlays, implantable contact lenses, ocular lenses, LASIK surgery, ophthalmic surgeries, prescription lenses, contact lenses, conductive keratoplasty, progressive multifocals, and stem cell therapy. Telemedicine and implanting sensors are also gaining popularity in the treatment of vision impairment.

Phacoemulsification systems are commonly used in ophthalmic surgeries for cataract removal, which is a common complication in people with myopia and presbyopia. Gene therapy and implanting sensors are emerging technologies in the field of eye treatment, offering potential solutions for vision loss and eye pressure issues. The market for myopia and presbyopia treatment is expected to grow significantly due to the increasing prevalence of these conditions and the availability of advanced treatment options. The use of technology in eye care, such as telemedicine and implanting sensors, is also expected to drive market growth. In conclusion, the market is witnessing significant growth due to the increasing prevalence of these conditions, particularly in the geriatric population, and the availability of advanced treatment options, including LASIK surgery, ophthalmic surgeries, prescription lenses, contact lenses, and emerging technologies like gene therapy and implanting sensors.

Myopia and Presbyopia Treatment Market Segmentation

The myopia and presbyopia treatment market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Type
  • Myopia treatment
  • Presbyopia treatment
• Product
  • Lenses and glass
  • Surgery
  • Drug
• Geography
  • Asia
  • North America
    • Canada
    • US
  • Europe
    • Germany
  • Rest of World (ROW)

By Type Insights

The myopia treatment segment is estimated to witness significant growth during the forecast period. Myopia and presbyopia treatment play essential roles in addressing vision loss among nearsighted individuals and elderly people with age-related vision impairment. Myopia, or nearsightedness, is a refractive error that affects the focusing of light on the retina, leading to blurred distance vision. Presbyopia, on the other hand, is an age-related condition that causes difficulty in focusing on nearby objects. The global market encompasses various solutions, including surgical procedures, corrective lenses, and alternative therapies. Corneal inlays, implantable contact lenses, and ocular lenses and ocular implants are among the surgical procedures used to treat myopia. LASIK and LASEK are popular surgical options for reshaping the cornea to improve refractive errors.

Presbyopia treatment options include single prescription lenses, bifocal lenses, multifocal lenses, monovision lenses, and modified monovision lenses. These lenses help elderly people and ageing adults maintain clear vision at various distances. Conductive keratoplasty surgery is another treatment for presbyopia, which involves using radio waves to reshape the cornea. Myopia and presbyopia can also lead to other eye conditions, such as glaucoma, cataracts, retinopathy, and diabetes-related complications. Digital screen exposure can worsen myopia and presbyopia symptoms, necessitating effective treatment. Telemedicine and ophthalmic surgeries have emerged as promising solutions for delivering eye care services to patients. Stem cell therapy and gene therapy are potential future treatments for various eye conditions.

In summary, the market comprises various solutions to address vision impairment and loss caused by these conditions. Corrective lenses, surgical procedures, and alternative therapies are among the available options for treating myopia and presbyopia, with ongoing research exploring innovative solutions like stem cell therapy and gene therapy.

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The myopia treatment segment accounted for USD 7.68 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

Asia is estimated to contribute 37% to the growth of the global myopia and presbyopia treatment market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Myopia and presbyopia, two common vision impairments, affect various age groups, including teenagers, young adults, adults, senior citizens, and ethnic minorities. Myopia, also known as nearsightedness, can be corrected through various methods such as implanting sensors, contact lenses, or glasses. Presbyopia, a condition associated with ageing, requires more complex solutions like Phacoemulsification systems and the implantation of intraocular lenses. The ageing population and older adults are the primary consumers of these vision correction options. Additionally, rural areas and high-income regions have a significant demand for these treatments. The use of advanced technologies like femtosecond lasers enhances the precision and safety of these procedures, making them increasingly popular.

Vision improvement solutions cater to diverse demographics, ensuring better quality of life for patients.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Myopia And Presbyopia Treatment Market Driver

Increasing prevalence of myopia and presbyopia is the key driver of myopia and presbyopia treatment market growth. Myopia and presbyopia, two common refractive errors, are leading causes of vision impairment and blindness worldwide. According to the World Health Organization (WHO), approximately 2.2 billion people experienced near or distant vision impairment as of October 2021. Uncorrected refractive errors, including myopia, account for 43.2% of all vision impairment, making it the leading cause of distance vision impairment globally. Myopia, also known as nearsightedness, affects an increasing number of people, with the prevalence rising from 1.4 to 3 in 2020. By 2050, it is estimated that half of the world's population may be myopic. Presbyopia, an age-related condition that affects the ability to focus on nearby objects, primarily affects elderly people and ageing adults.

Various treatments for myopia and presbyopia include surgical procedures such as LASIK, LASEK, and conductive keratoplasty, as well as implantable contact lenses, corneal inlays, and ocular lenses. Single prescription lenses, bifocal lenses, multifocal lenses, monovision lenses, and modified monovision lenses are also common solutions. Telemedicine has emerged as a viable option for eye care, particularly in the context of the COVID-19 pandemic. Other conditions, such as glaucoma, cataracts, retinopathy, diabetes, and eye pressure, can also impact vision. Stem cell therapy and gene therapy are emerging treatments for various eye problems. Medical tourism is a growing trend for individuals seeking advanced ophthalmic surgeries at lower costs. Overall, addressing vision impairment and blindness caused by myopia, presbyopia, and other conditions is a critical priority for healthcare systems and individuals alike.

Myopia And Presbyopia Treatment Market Trends

Recent developments in myopia and presbyopia treatment is the upcoming trend in the myopia and presbyopia treatment market. Myopia and presbyopia are common vision impairments affecting a significant number of individuals, particularly the elderly and those with nearsightedness. Myopia, also known as nearsightedness, causes difficulty in seeing objects at a distance, while presbyopia is an age-related condition that affects the ability to focus on near objects. The global market for myopia and presbyopia treatment is witnessing significant growth due to the increasing prevalence of these conditions and the development of innovative solutions.

These contact lenses offer all-day comfort and visual clarity for individuals with myopia and presbyopia. Available in spherical and multifocal designs, they cater to various vision correction needs. Other treatments for myopia and presbyopia include surgical procedures such as LASIK surgery, conductive keratoplasty, and LASEK. For those with advanced conditions, options like corneal inlays, implantable contact lenses, and ocular lenses may be considered. Conditions like glaucoma, cataracts, retinopathy, and diabetes can complicate myopia and presbyopia treatment. Telemedicine and ophthalmic surgeries are also gaining popularity in the market, offering convenience and accessibility to patients. Single prescription lenses, bifocal lenses, and progressive multifocals are common solutions for presbyopia.

Monovision lenses and modified monovision lenses are also effective, especially for those with astigmatism. Stem cell therapy and gene therapy are emerging treatments with promising potential. Medical tourism offers cost-effective alternatives for individuals seeking advanced treatments. Overall, the market is dynamic, with a focus on improving patient outcomes and addressing the evolving needs of the geriatric population and ageing adults.

Myopia And Presbyopia Treatment Market Challenge

High cost of myopia and presbyopia treatment is a key challenge affecting myopia and presbyopia treatment market growth. Myopia and presbyopia, two common vision conditions, can lead to significant vision loss and impair distance and near vision for individuals. Myopia, also known as nearsightedness, affects those who can see close objects clearly but struggle with distant ones. Presbyopia, a natural aging process, makes it difficult for elderly people and ageing adults to focus on near objects. Various treatment options exist for these conditions, including surgical procedures, ocular lenses, and prescription lenses. Corneal inlays and implantable contact lenses are advanced solutions for myopia and presbyopia, but they come with a higher cost. LASIK and other refractive surgeries offer permanent solutions but may carry risks, including complications with glaucoma, cataracts, and retinopathy.

Digital screen exposure and diabetes can worsen myopia and presbyopia, making regular eye exams essential. Single prescription lenses, bifocal lenses, multifocal lenses, monovision lenses, and modified monovision lenses are common solutions for correcting presbyopia. Conductive keratoplasty surgery, LASEK, and progressive multifocals are other options. Telemedicine and ophthalmic surgeries have become increasingly popular, offering more accessible and affordable treatment options. However, the high cost of specialized treatments and regular lens replacements remains a concern. Medical tourism can offer cost savings, but it comes with risks, including potential complications and subpar care. Stem cell therapy and gene therapy are emerging treatments for various eye conditions, including myopia and presbyopia.

These innovative approaches offer the potential for long-term solutions, but they come with significant costs and are still under development. Eye care and vision impairment are essential concerns for individuals and healthcare providers alike. Addressing the financial barriers to accessing necessary treatments is crucial for maintaining optimal eye health and preventing blindness.

Customer Landscape

The myopia and presbyopia treatment market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the myopia and presbyopia treatment market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

AbbVie Inc. - The company provides advanced treatments for myopia and presbyopia, including the FDA-approved VUITY pilocarpine HCl ophthalmic solution.

The myopia and presbyopia treatment market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Alcon Inc.
• Arctic Vision
• Bausch Health Companies Inc.
• BVI Holdings Ltd.
• Carl Zeiss AG
• ENTOD INTERNATIONAL
• EssilorLuxottica
• Evotec SE
• F. Hoffmann La Roche Ltd.
• Johnson and Johnson Services Inc.
• Metall Zug AG
• NIDEK Co. Ltd.
• Ophtec BV
• Orasis Pharmaceuticals Inc.
• Regeneron Pharmaceuticals Inc.
• Sanjeevan School For Perfect Eyesight
• Sydnexis Inc.
• The Cooper Companies Inc.
• Topcon Corp.
• Vision Care Group
• Visus Therapeutics Inc.
• Ziemer Ophthalmic Systems AG

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

Myopia and presbyopia are two common eye conditions that can lead to vision loss. Myopia, also known as nearsightedness, affects individuals who have difficulty seeing objects at a distance, while presbyopia is a natural aging process that makes it difficult for elderly people and ageing adults to focus on near objects. The treatment for myopia and presbyopia includes various options such as corrective lenses, surgical procedures, and alternative therapies. Corneal inlays, implantable contact lenses, and ocular lenses are some of the advanced lens options available for myopia treatment. LASIK, conductive keratoplasty surgery, LASEK, and refractive lens exchange are popular surgical procedures for myopia and presbyopia.

Presbyopia treatment includes single prescription lenses, bifocal lenses, multifocal lenses, monovision lenses, and modified monovision lenses. Telemedicine and ophthalmic surgeries are also becoming increasingly popular for eye treatment. Other eye problems such as glaucoma, cataracts, retinopathy, diabetes, and eye pressure can also lead to vision impairment. Stem cell therapy and gene therapy are emerging treatments for various eye conditions. Medical tourism offers affordable eye treatment options for those seeking advanced eye care. In conclusion, the market for myopia and presbyopia treatment is vast and diverse, with various treatment options available to cater to different patient needs. The increasing geriatric population and the rising prevalence of eye problems are expected to drive the growth of the market in the coming years.

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What are the Key Data Covered in this Myopia and Presbyopia Treatment Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across Asia, North America, Europe, and Rest of World (ROW)
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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