SAN FRANCISCO, Oct. 2, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
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
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
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
Multifocal contact lenses for the correction of presbyopia held the largest market share in 2018 largely due to easy availability and effective outcomes
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
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.
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)
Presbyopia Treatment Type Outlook (Revenue, USD Million, 2015 - 2026)
Myopia and Presbyopia Treatment Regional Outlook (Revenue, USD Million, 2015 - 2026)
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.