The Business Research Company’s report on the Myopia and Presbyopia Treatment Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the myopia and presbyopia treatment market further?
The rising geriatric population is expected to propel the growth of the myopia and presbyopia treatment market going forward. The geriatric population refers to older people who are 65 years and beyond. The geriatric population suffers from various diseases due to low immunity and age. Aging increases the risk of myopia, presbyopia, and eye-related diseases in the geriatric population. Myopia and presbyopia treatment examines the visual and microscopic component’s view of the eyes. These results are used to identify and manage a variety of eye-related illnesses in geriatric population. For instance, in October 2022, according to a report published by the World Health Organization (WHO), a Switzerland-based agency responsible for international public health, one in six people is expected to be 60 or older by the year 2030, in the entire world. By 2050, there will be 2.1 billion people worldwide who are 60 years old or older. The number of persons who are 80 years of age or older will increase by 426 million between 2020 and 2050 compared to the current population. Thus, the rising geriatric population is driving myopia and presbyopia treatment market.
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What are the key factors influencing the forecasted market size of the myopia and presbyopia treatment industry?
The myopia and presbyopia treatment market size has grown strongly in recent years. It will grow from $21.04 billion in 2024 to $22.7 billion in 2025 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increasing prevalence of myopia and presbyopia, awareness and education initiatives, shift in lifestyles and screen time, consumer preference for non-surgical treatments, economic growth and healthcare spending, clinical research and development, accessibility to eyecare services.
The myopia and presbyopia treatment market size is expected to see strong growth in the next few years. It will grow to $31.43 billion in 2029 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to emergence of gene therapies for eye disorders, focus on vision correction for lifestyle enhancement, growing adoption of orthokeratology, cultural factors impacting eyecare practices, shift towards preventive eyecare. Major trends in the forecast period include telemedicine for vision care, pharmaceutical interventions, customized contact lenses, myopia control devices, advanced intraocular lenses (IoLS), refractive surgery for presbyopia, and lens implant technologies.
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Who are the leading competitors in the myopia and presbyopia treatment market?
Major companies operating in the myopia and presbyopia treatment market are 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
Which emerging trends are set to transform the myopia and presbyopia treatment market landscape?
Technologically advanced solutions are a key trend gaining popularity in the myopia and presbyopia treatment market. Major companies operating in the market are focused on developing technologically advanced solutions to sustain their position in the myopia and presbyopia treatment market. For instance, in September 2024, Entod Pharmaceuticals, an India-based manufacturing company, launched PresVu Eye Drops, the first eye drop in India specifically developed for the treatment of presbyopia, a common age-related vision condition affecting individuals typically over 40 years old. Approved by the Drug Controller General of India (DCGI), PresVu aims to reduce dependency on reading glasses while providing lubrication to the eyes. The eye drops utilize advanced dynamic buffer technology, ensuring consistent efficacy and safety for extended use.
How do different geographies compare in terms of market share and growth potential in 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.
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Which major segments of the myopia and presbyopia treatment market are experiencing the fastest growth?
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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What defines the structure and scope of the myopia and presbyopia treatment market?
Myopia and presbyopia treatment refers to the treatment or procedure to correct and sharpen the vision caused by myopia and presbyopia in adults and children. The key objective of myopia and presbyopia treatment is to diagnose underlying disorders, lower the risk of injury, prevent ocular symptoms, and detect the disease early.
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