Myopia and presbyopia treatment market size to grow by USD 7.94 billion from 2022 to 2027, Major Vendors include AbbVie Inc., Alcon Inc. and Arctic Vision, Technavio

NEW YORK, Feb. 28, 2024 /PRNewswire/ -- The myopia and presbyopia treatment market size is expected to increase by USD 7.94 billion, at a CAGR of 8.09% from 2022 to 2027. Download a FREE Sample Report!

Market Dynamics

The growing demand for vision correction among the aging population drives the market growth. Several factors, which include lifestyle changes, technological advancements, and raised awareness of vision problems, are driving the demand. Moreover, technological advancements as well as increased use of electronic devices such as smartphones, tablets, and computers increase eye fatigue for users. Therefore, factors such as the growing need to improve eye vision are expected to drive the demand for eye treatment options, which will drive the growth of the market during the forecast period. Download a FREE Sample Report!

The emergence of multifocal intraocular lenses is an emerging market trend. The introduction of multifocal intraocular lenses changes the treatment choices available for individuals suffering from multiple vision impairment conditions. In addition, multifocal lenses provide the advantage of being able to work through splitting incoming light into various focus points rather than focusing exclusively on one fixed spot in a conventional mono-focal. Download a FREE Sample Report and gain insights about the market dynamics including drivers, trends, and challenges.

Company Profiles

Some of the companies covered in this report are AbbVie Inc., Alcon Inc., Arctic Vision, Bausch Health Companies Inc., BVI Holdings Ltd., Carl Zeiss AG, ENTOD INTERNATIONAL, EssilorLuxottica, F. Hoffmann La Roche Ltd., Johnson and Johnson, Metall Zug AG, NIDEK Co. Ltd., Ophtec BV, Orasis Pharmaceuticals Inc., Regeneron Pharmaceuticals Inc., Sanjeevan School For Perfect Eyesight, Sydnexis Inc., The Cooper Companies Inc., Topcon Corp., Vision Care Group, Visus Therapeutics Inc., Ziemer Ophthalmic Systems AG, and Evotec SE etc.

Competitive Analysis

The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Market Segmentation

• The myopia treatment segment is significant during the forecast period. Since the prevalence of myopia is increasing across the world, the treatment of myopia is of great concern. The use of corrective lenses, including spectacles or contact lenses, is one of the most common treatments for myopia. Additionally, LASIK is one of the most popular types of refractive surgery for myopia. Furthermore, a laser is used to remove the corneal tissue and reshape its curvature. Thus, the demand for such treatment will drive the growth of this segment, which is expected to fuel the growth of the market during the forecast period. Download a Sample Report Now!

Analyst Review

The Myopia and Presbyopia Treatment Market encompasses a wide array of vision correction treatments aimed at addressing these common ocular conditions. Myopia, commonly known as nearsightedness, and presbyopia, the age-related loss of near vision, are prevalent vision impairments affecting millions worldwide, particularly in regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The World Health Organization (WHO) recognizes the growing concern surrounding myopia, attributing it to factors such as increased screen time and changing lifestyles, especially in urban areas. As a result, regulatory bodies like the FDA (Food & Drug Administration) closely monitor advancements in vision correction technologies, including LASIK surgeries, implantable contact lenses, and intraocular phakic presbyopic lenses.

Research & development efforts in the field focus on enhancing existing treatments and developing innovative solutions to address the rising demand for effective vision correction options. Corrective lenses remain a staple in managing both myopia and presbyopia, catering to individuals across all age groups.

Geographically, North America leads the market in terms of technological advancements and surgical segment growth, closely followed by Europe and the Asia Pacific. Latin America and the Middle East & Africa regions also show potential for market expansion as awareness and accessibility to treatment options increase.

In summary, the Myopia and Presbyopia Treatment Market is a dynamic landscape driven by technological innovations, regulatory oversight, and geographic disparities in healthcare access and awareness. Download a Sample Report Now!

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Table of Contents 

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
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SOURCE Technavio