What Is The Current and Historic Market Size Analysis Of The Myopia and Presbyopia Treatment Market?
The myopia and presbyopia treatment market has seen considerable growth due to a variety of factors.
• There has been significant expansion in the market size of myopia and presbyopia treatment in the past few years. The market, which was worth $21.04 billion in 2024, is projected to rise to $22.7 billion in 2025, indicative of a compound annual growth rate (CAGR) of 7.9%. Factors influencing this upward trend during the historic period include the rising incidences of myopia and presbyopia, measures taken to raise awareness and education, lifestyle changes and increase in screen time, a consumer bias towards non-surgical treatments, economic growth coupled with healthcare expenditure, strides in clinical research and development, and better reach of eyecare services.
What Are The Predictions for The Myopia and Presbyopia Treatment Market Size?
The Myopia and Presbyopia Treatment market is expected to maintain its strong growth trajectory in upcoming years.
• The market for myopia and presbyopia treatments is likely to witness a robust growth in the years to come. The market value is projected to reach $31.43 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.5%.
The growth during the forecast period is linked to the advent of gene therapies for eye disorders, emphasis on improving life quality through vision corrective measures, increasing preference for orthokeratology, cultural influences in eyecare practices, and a shift to preventive eyecare measures. Furthermore, the key trends during the forecast period involve the adoption of telehealth for vision care, pharmacological interventions, tailor-made contact lenses, devices for controlling myopia, state-of-the-art intraocular lenses (IoLS), refractive surgery for presbyopia, and lens implant technologies.
Which Drivers Are Accelerating Growth In The Myopia and Presbyopia Treatment Market?
The anticipated increase in the elderly population is predicted to boost the myopia and presbyopia treatment market's expansion. The elderly population is composed of individuals who are aged 65 and over. Due to diminished immunity and age, this population group is more susceptible to various diseases. The risk of developing myopia, presbyopia, and other eye-related ailments increases with age in the elderly population. Treatments for myopia and presbyopia involve the examination of the eyes' visual and microscopic components. These findings assist in the identification and management of a multitude of eye-related conditions within the elderly population. For example, a World Health Organization (WHO) report published in October 2022 revealed that by 2030, one in every six people around the world is projected to be 60 or older. By 2050, the global population of people aged 60 and over will reach 2.1 billion. Those aged 80 years and above will add 426 million to their current population between 2020 and 2050. Therefore, the increasing elderly population is contributing significantly to the growth of the myopia and presbyopia treatment market.
What Are The Core Segments Of The Global Myopia and Presbyopia Treatment Market?
The myopia and presbyopia treatment market covered in this report is segmented –
1) By Disease Type: Myopia, Presbyopia
2) By Myopia Treatment Type: Corrective, Surgical, Drugs
3) By Presbyopia Treatment Type: Prescription Lenses, Contact Lenses, Intraocular Lenses, Refractive Surgery
Subsegments:
1) By Myopia: Eyeglasses And Contact Lenses, Refractive Surgery, Pharmacological Treatments, Orthokeratology
2) By Presbyopia: Multifocal Eyeglasses, Bifocal Contact Lenses, Presbyopia-Correcting Surgery, Pharmacological Treatments
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Which Emerging Trends Are Reshaping The Myopia and Presbyopia Treatment Market Size?
The myopia and presbyopia treatment market is seeing a rising trend towards the use of advanced technological solutions. A significant approach taken by leading companies in the market is the development and promotion of these innovative technological solutions to maintain their market stature. For example, in September 2024, Entod Pharmaceuticals, an Indian company, introduced PresVu Eye Drops, a product designed specifically to treat presbyopia, a prevalent vision condition often seen in those over 40. PresVu, approved by the Drug Controller General of India (DCGI), targets the reduction of reliance on reading glasses while providing eye lubrication simultaneously. The efficacy and safety of these eye drops for prolonged usage are assured by the cutting-edge dynamic buffer technology used in their formulation.
Who Are the Key Players In The Myopia and Presbyopia Treatment Market?
Major companies operating in the myopia and presbyopia treatment market include:
• ALCON Inc.
• Bausch & Lomb Incorporated
• Carl Zeiss AG
• Essilor Ltd.
• Hagg Striet UK Ltd.
• Johnson & Johnson Vision Inc.
• Nidek Corporation
• Topcon Corporation
• Zimmer Ophthalmic Systems AG
• AbbVie Inc.
• Orasis Pharmaceuticals Ltd.
• Regeneron Pharmaceuticals Inc.
• Sydnexis Inc.
• The Cooper Companies Inc.
• Staar Surgical Co.
• Eyenovia Inc.
• Allergan PLC
• Hoya Corporation
• Novartis AG
• Menicon Co. Ltd.
• CooperVision Inc.
• Visioneering Technologies Inc.
• AcuFocus Inc.
• Ocular Therapeutix Inc.
• SightGlass Vision Inc.
• Presbia PLC
• Ophthotech Corporation
• OphthaliX Inc.
• LensGen Inc.
• Lightico Ltd.
• RxSight Inc.
• Perfect Lens LLC
What Are The Regional Insights Into The Myopia and Presbyopia Treatment Market?
North America was the largest region in the myopia and presbyopia treatment market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the myopia and presbyopia treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
