How Has The Computer Vision in Myopia Treatment Devices Market Size Evolved In Recent Years?
The myopia treatment devices market has seen considerable growth due to a variety of factors.
• There has been a significant expansion in the market for myopia treatment devices in the past few years. The market, which was worth $6.88 billion in 2024, is projected to increase to $7.53 billion in 2025, representing a compound annual growth rate (CAGR) of 9.5%.
The previous period's growth can be credited to governmental health campaigns, increased R&D, improved patient awareness, a rise in disposable income, and an augmented emphasis on children's eye care.
What is the Forecasted Market Size and CAGR for the Myopia Treatment Devices Market?
The myopia treatment devices market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the myopia treatment devices market size is projected to experience robust growth. The market is set to expand to $10.70 billion by 2029, with a compound annual growth rate (CAGR) of 9.2%.
The predicted growth during this period can be linked to the rise of telemedicine services, progress in gene therapy, the enlargement of myopia control programs, enhanced surgical methods, and the adoption of artificial intelligence (AI) in diagnosing. The upcoming trends within this forecast period encompass improvements in refractive surgery, digital solutions for eye strain, high-tech contact lenses, laser refractive surgery, and the utilization of biosensors for maintaining eye health.
Which Drivers Are Accelerating Growth In The Myopia Treatment Devices Market?
The growth of the myopia treatment devices market is projected to be fuelled by the increasing incidence of eye diseases. These diseases encompass a wide array of conditions or disorders that can impact the functionality or structure of the eye, potentially impacting vision. Factors leading to the increasing incidence of eye diseases include aging populations, heightened screen time, alterations in lifestyle, and increased exposure to environmental pollution. Myopia treatment devices are used to manage eye diseases by arresting the advancement of myopia, enhancing visual clarity, and minimizing the risk of related complications. This provides a proactive means of maintaining ocular health and improving the life quality of those who are affected. For example, as per the report by the Centers for Disease Control and Prevention – a government agency in the US – in May 2024, 17.2% of Americans aged 40 and above, equivalent to around 20.5 million people, are expected to have cataracts in at least one eye by 2024, with this figure projected to exceed 30 million by 2028. Thus, the increasing incidence of eye diseases is spurring the growth of the myopia treatment devices market.
What Are The Principal Market Segments In The Global Myopia Treatment Devices Healthcare Industry?
The myopia treatment devices market covered in this report is segmented –
1) By Product Type: Eye Glasses, Contact Lenses, Ortho-K Lenses, Phakic Intraocular Lenses, Excimer Laser Refractive Surgery Devices
2) By Treatment: Corrective Lenses, Laser Eye Surgery, Lens Implant Surgery
3) By End-Use: Hospitals And Clinics, Ophthalmic Centers, Retail stores, Online Channels
Subsegments:
1) By Eye Glasses: Single Vision Glasses, Multifocal Glasses
2) By Contact Lenses: Soft Contact Lenses, Rigid Gas Permeable (RGP) Contact Lenses, Hybrid Contact Lenses
3) By Ortho-K Lenses: Overnight Ortho-K Lenses, Daytime Ortho-K Lenses
4) By Phakic Intraocular Lenses: Anterior Chamber Phakic IOLs, Posterior Chamber Phakic IOLs
5) By Excimer Laser Refractive Surgery Devices: LASIK (Laser-Assisted in Situ Keratomileusis) Devices, PRK (Photorefractive Keratectomy) Devices, SMILE (Small Incision Lenticule Extraction) Devices
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Which Emerging Market Trends Are Altering The Myopia Treatment Devices Market?
Leading businesses in the myopia treatment devices market are focusing on innovation and technological advancements, such as overnight therapeutic lenses, in order to enhance their competitive edge and cater to the rising demand for efficient and user-friendly treatment methods. Overnight therapeutic lenses are a special kind of contact lens worn during sleep to offer temporary eyesight correction for conditions such as myopia, astigmatism, or presbyopia. For example, in January 2022, Johnson & Johnson Vision, a firm in the US pharmaceutical industry, introduced ACUVUE Abiliti, a fresh range of myopia control solutions to tackle the increasing incidence of myopia among children. The ACUVUE Abiliti 1-Day Soft Therapeutic Lenses aim to decelerate myopia progression in children from 7 to 12 years old. These inventive daily-use lenses represent a major leap in myopia control, showing an average decrease in axial elongation of 0.105 mm over half a year. This decrease aids in reducing the long-term jeopardies tied to high myopia, which can result in serious eyesight complications later on.
Who Are the Key Players in the Myopia Treatment Devices Market?
Major companies operating in the myopia treatment devices market are include:
• EssilorLuxottica S.A.
• Carl Zeiss Meditec AG
• Alcon Inc.
• Hoya Corporation
• Bausch & Lomb Incorporated
• CooperVision Inc.
• Johnson & Johnson Vision Care Inc.
• Topcon Corporation
• Menicon Co. Ltd.
• STAAR Surgical Company
• Paragon Vision Sciences Inc.
• Ziemer Ophthalmic Systems AG
• Euclid Systems Corporation
• Art Optical Contact Lens Inc.
• Schwind Eye Tech Solutions GmbH
• Kubota Pharmaceutical Holdings Co Ltd.
• Visioneering Technologies Inc.
• Eyerising International
• Nidek Co Ltd.
• Falco Linsen AG
What are the Regional Insights into the Myopia Treatment Devices Market?
North America was the largest region in the myopia treatment devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the myopia treatment devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
