What Has Been The Evolution of the Presbyopia Market in Recent Years?
The presbyopia market has seen considerable growth due to a variety of factors.
• The market size of presbyopia has witnessed significant expansion in the last few years. The market value is projected to rise from 2024's $10.11 billion to $10.70 billion in 2025, marking a compound annual growth rate (CAGR) of 5.8%.
The considerable growth observed in the past period is due to a surge in chronic illnesses, an increase in eye disorder instances, a rising geriatric population, an upturn in medication consumption, and the sedentary lifestyle led by many.
What Are the Future Growth Projections for the Presbyopia Market?
The presbyopia market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the presbyopia market is anticipated to witness significant expansion, growing to $13.30 billion in 2029 at a CAGR of 5.6%.
This expected growth during the forecast period can be attributed to factors such as the rise in emerging markets, heightened awareness about presbyopia treatment, increased investment in the healthcare infrastructure, a surge in drug approvals and launches, as well as the growing trend of monovision LASIK surgery. Further key trends to look out for during this period include technological advancements, progress in intraocular lens implant techniques, novel presbyopia treatment developments, and the emergence of cost-effective non-invasive procedures, all bolstered by the deployment of artificial intelligence and machine learning.
What Are The Core Factors Supporting Growth In The Presbyopia Market?
The escalation in vision impairment incidences is anticipated to fuel the presbyopia market's expansion. A person suffering from vision impairment encounters partial or total loss of eyesight that cannot be fully rectified with eyeglasses, contact lenses, or medical procedures. The surge in vision impairment cases is attributed to an aging demographic, a rise in diabetes and ocular diseases, excessive use of screens, and insufficient access to eye care in specific regions. Presbyopia adds to vision impairment by diminishing the eye's capacity to focus on close objects due to the stiffening of the lens with age. This makes daily activities such as reading and operating screens more difficult without corrective actions. For example, in December 2023, the United Nations Development Programme (UNDP), a United Nations agency based in the US, reported that the number of people diagnosed with vision impairments had increased from 17,478 in 2021 to 19,551 in 2022. Furthermore, more than 19,000 fresh diagnoses have been noted in only the first seven months of 2023. Thus, the mounting prevalence of vision impairment is spurring the presbyopia market's growth.
What Are The Major Segments Within The Global Presbyopia Market?
The presbyopia market covered in this report is segmented –
1) By Treatment: Eyeglasses, Contact Lenses, Refractive Surgery, Lens Implants, Other Treatments
2) By Symptoms: Eye Strain, Headaches, Fatigue, Blurred Vision, Other Symptoms
3) By End-Users: Hospitals, Specialty Clinics, Homecare, Other End-Users
Subsegments:
1) By Eyeglasses: Bifocal Eyeglasses, Progressive Lenses, Reading Glasses, Photochromic Lenses
2) By Contact Lenses: Bifocal Contact Lenses, Multifocal Contact Lenses, Monovision Contact Lenses, Scleral Lenses
3) By Refractive Surgery: LASIK (Laser-Assisted In Situ Keratomileusis), PRK (Photorefractive Keratectomy), Conductive Keratoplasty (CK), Corneal Inlays
4) By Lens Implants: Multifocal Intraocular Lenses (IOLs), Accommodative IOLs, Extended Depth of Focus (EDOF) IOLs
5) By Other Treatments: Pharmaceutical Treatments, Corneal Cross-Linking, Near-vision Presbyopia Correction Surgery
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What Trends Are Reshaping The Future Of The Presbyopia Market?
Leading enterprises in the presbyopia market are concentrating on groundbreaking innovations, including eye-responsive progressive lenses, to improve vision and comfort for older people. These sophisticated multifocal lenses adjust to the eye's motions, enabling comprehensive vision correction for presbyopia at any range. For example, Essilor, a French company specializing in designing, manufacturing, and marketing ophthalmic lenses, introduced Varilux, a progressive lens brand for people with presbyopia, in August 2023. This pioneering methodology employs artificial intelligence to forecast visual behavior based on unique real-world data, thereby pioneering personalized vision correction standards. These technological breakthroughs are revolutionizing the presbyopia market, providing patients with improved approaches to cope with this age-related issue and enhancing the overall quality of life.
Who Are the Key Players In The Presbyopia Market?
Major companies operating in the presbyopia market are:
• Johnson & Johnson Private Limited
• AbbVie Inc.
• Abbott Laboratories
• Novartis AG
• Essilor International SAS
• Carl Zeiss Meditec AG
• Alcon Vision LLC
• Bausch + Lomb Corporation
• CooperVision Inc.
• Santen Pharmaceutical Co. Ltd.
• Glaukos Corporation
• STAAR Surgical Company
• Ziemer Ophthalmic Systems AG
• LENZ Therapeutics Inc.
• InSight Vision Incorporated
• Oculis Holding AG
• Orasis Pharmaceuticals Inc.
• Visus Therapeutics Inc.
• Eyenovia Inc.
• Atia Vision Inc.
What Is The Most Dominant Region In The Presbyopia Market?
North America was the largest region in the presbyopia market in 2024. The regions covered in the presbyopia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
