According to a report, “ Myopia And Presbyopia Treatment Market Size, Share & Trends Analysis Report By Myopia Treatment (Corrective, Surgical), By Presbyopia Treatment (Prescription Lens, Intraocular Lens), And Segment Forecasts, 2019 – 2026 ”, published by Grand View Research, Inc.,The global myopia and presbyopia treatment market size is expected to reach USD 28 billion by 2026, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 7.7% during the forecast period. Growing research and development activities in the targeted disorders is expected to drive the growth.
Moreover, growing prevalence of myopia and high myopia is anticipated to fuel the market growth. Incidence of myopia in the developing countries of Asia Pacific, such as Japan, China, Singapore, and the Republic of Korea is growing steeply in the recent years. The condition is expected to affect 52.0% of the world’s population in the forthcoming years.
Growing prevalence of myopia and presbyopia is an opportunity for the market players to introduce efficient treatment solutions. Among the developed nations, U.S. is witnessing significant rise in incidence of myopia and presbyopia, especially in individuals over 42 years of age. Factors such as introduction of technologically advanced surgical options and high adoption rate in the developed countries are expected boost growth of the myopia and presbyopia treatment market in the upcoming years.
Advanced diagnostic and surgical treatment solutions include LASIK, LASEK, and PRK. Integration of these techniques with artificial intelligence and robot assisted surgical tools is expected to fuel the number of surgical procedures. Introduction of multifocal intraocular lenses, and implantable contact lenses is expected to have a positive impact on the market growth.
Further key findings from the report suggest:
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By myopia treatment type, single prescription corrective lenses expected to hold significant market share over the forecast period, owing to progression of the condition with age, thus driving the requirement for frequent replacement of corrective lenses
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LASIK is the most preferred surgical treatment owing to its effectiveness. This factor is projected to fuel the growth of the segment in the forthcoming years
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Progressive multifocals segment is expected to grow significantly over the forecast period owing to wide acceptance of this type of treatment for presbyopia due to aesthetic advantages
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Multifocal contact lenses for the correction of presbyopia held the largest market share in 2018 largely due to easy availability and effective outcomes
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Few of the key players operating in the myopia and presbyopia treatment market include Ziemer Ophthalmic Systems AG, NIDEK CO., LTD., Johnson & Johnson Vision, Zeiss International, Essilor Ltd., ALCON VISION LLC, Bausch & Lomb Incorporated, Haag-Streit UK, and Topcon Corporation
Presbyopia Treatment Type Insights
On the basis of presbyopia treatment, the market is categorized as prescription lens, contact lens, intraocular lens, and refractive surgery. Prescription lenses segment is further categorized into reading glasses, bifocals, trifocals, progressive multifocals, and office progressives. Contact lens is further categorized into bifocal, multifocal, monovision, and modified monovision. Conductive Keratoplasty, LASIK, LASEK, and PRK are effective refractive surgical procedures used for the presbyopia treatment.
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LASIK is a widely accepted surgical procedure for the treatment of presbyopia. The surgery involves reshaping the cornea to improve farsightedness or hyperopia. High prevalence of these conditions coupled with rising demand for LASIK surgery is expected to boost the market growth during the forecast period.
Progressive multifocals is expected to be the fastest growing segment over the forecast period owing to increasing preference for presbyopia correction. They are widely accepted due to aesthetic and visual advantages, such as image clarity while rejecting image jumping during eye movements. In addition, innovations, such as multifocals with anti-reflexive coating and photochromic lenses, are also expected to propel the segment growth.
Regional Insights
North America is expected to hold the maximum market share owing to availability of advanced technologies for the treatment of the targeted disorders coupled with the presence of a large number of market players in the region.
Asia Pacific is expected to be the fastest growing region over the forecast period owing to rapid rise in geriatric population, high prevalence of eye diseases, and growing medical tourism. In addition, rising disposable income of consumers is also expected to drive the regional market expansion in near future.
Europe is also expected to witness significant growth in the forthcoming years owing to growing geriatric population and awareness regarding the treatment of the targeted disorders.
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Grand View Research has segmented the global myopia and presbyopia treatment market based on myopia treatment type, presbyopia treatment type, and region:
Myopia Treatment Type Outlook (Revenue, USD Million, 2015 – 2026)
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Corrective
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Prescription
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Single
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Bifocal
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Trifocal
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Others
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Contact Lenses
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Surgical
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Drugs
Presbyopia Treatment Type Outlook (Revenue, USD Million, 2015 – 2026)
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Prescription Lenses
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Reading Glasses
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Bifocals
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Trifocals
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Progressive Multifocals
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Office Progressives
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Contact Lenses
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Bifocal
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Multifocal
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Monovision
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Modified Monovision
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Intraocular Lenses
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Refractive surgery
Myopia and Presbyopia Treatment Regional Outlook (Revenue, USD Million, 2015 – 2026)
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North America
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U.S.
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Canada
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Europe
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Germany
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U.K.
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France
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Italy
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Spain
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Asia Pacific
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India
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China
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Japan
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Thailand
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South Korea
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Latin America
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Mexico
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Brazil
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Argentina
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Colombia
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Middle East & Africa
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South Africa
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Saudi Arabia
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UAE
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