Myopia and presbyopia treatment market to grow by USD 7.94 billion from 2022 to 2027 | Asia to account for 37% of market growth- Technavio

NEW YORK, Sept. 18, 2023 /PRNewswire/ -- The myopia and presbyopia treatment market size is expected to grow by USD 7.94 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of  8.09% during the forecast period, according to Technavio Research. The market is segmented by type (Myopia treatment and Presbyopia treatment), product (Lenses and glass, Surgery, and Drug), and geography (Asia, North America, Europe, and Rest of World (ROW)). Asia is estimated to contribute 37% to the growth of the global market during the forecast period. Major factors significantly impacting the growth of myopia and presbyopia treatment market in Asia include the rising cost of therapeutic drugs, poor medical infrastructure in each country, and lack of awareness of eye diseases, including myopia and presbyopia in the Asian region. However,  increasing awareness of eye diseases such as myopia and presbyopia is driving the growth of the Asian market. Therefore, awareness campaigns are expected to drive market growth in the region during the forecast period. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read Free PDF Sample Report

Company Profile:

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

• AbbVie Inc: The company offers treatment for Myopia and Presbyopia, such as VUITY pilocarpine HCl ophthalmic solution, approved by the FDA.

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Myopia And Presbyopia Treatment Market: Segmentation Analysis

The myopia treatment segment is estimated to witness significant growth during the forecast period.  As the prevalence of myopia is increasing across the world, the treatment of myopia is of great concern. The use of corrective lenses, such as 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. A laser is used to remove the corneal tissue and reshape its curvature. Therefore, 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.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View Free PDF Sample Report

"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Myopia And Presbyopia Treatment Market: Market Dynamics

Key Driver

• Growing demand for vision correction among the aging population
• Rising awareness regarding vision care
• Increasing prevalence of myopia and presbyopia

Growing demand for vision correction among the aging population is the key driver for market growth. Several factors, such as lifestyle changes, technological advancements, and raised awareness of vision problems, are driving the demand. Moreover, technological advancements and increased use of electronic devices such as smartphones, tablets, and computers increase eye fatigue for users. Therefore, the growing need to improve eye vision is expected to drive the demand for eye treatment options, which will drive the growth of the market during the forecast period. 

Leading Trend

The emergence of multifocal intraocular lenses is the primary trend in the market.  The introduction of multifocal intraocular lenses has changed the treatment choices available for individuals suffering from multiple vision impairment conditions. In addition, multifocal lenses have 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 monofocal. 

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What are the key data covered in this myopia and presbyopia treatment market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the myopia and presbyopia treatment market between 2022 and 2027.
• Precise estimation of the myopia and presbyopia treatment market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the myopia and presbyopia treatment market across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of myopia and presbyopia treatment market vendors.

Table of Contents 

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type 

7 Market Segmentation by Product 

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio