Myopia and Presbyopia Treatment Market to Reach Value of 45 Bn by 2032, Reveals TMR in Its Report

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Nov 17, 2022, 05:30 ET

Rising incidence of vision impairment worldwide is expected to result into notable growth opportunities in the global myopia and presbyopia treatment market during 2022-2032
Increase in prevalence of myopia and presbyopia in people from North America is projected fuel the market growth in the region

WILMINGTOM, Del., Nov. 17, 2022 /PRNewswire/ -- A research report by Transparency Market Research (TMR) finds that the global myopia and presbyopia treatment market is estimated to advance at a CAGR of 9.5% during the forecast period, 2022-2032.

The market in North America is expected to maintain its dominance and expand at a CAGR of 9.7% during the forecast period. The North America market growth is ascribed to rise in prevalence of myopia and presbyopia and rise in the demand for contact lenses and surgeries in the region.

Key market players are focusing on the expansion of their businesses through varied strategies including FDA approvals, collaborations, technological advancements, and new product launches. Besides this, several enterprises are increasing R&Ds in order to incorporate innovations and improve the effectiveness of their treatment solutions. Such factors, in turn, are driving the growth avenues in the market.

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Myopia and Presbyopia Treatment Market: Key Findings

Blindness and vision loss are some of the key health issues mostly present in the older population. Due to technological advancements in the healthcare industry, there has been improvement in the overall life span of people worldwide over the past 50 years. Hence, there has been increase in the number of older population globally. This number is set to show twofold increase in the span of upcoming 20 years. Hence, a rise in the older population is expected to generate lucrative prospects in the market in the near future.
At present, over 2 billion people are living with different types of vision impairments. The report by World Health Organization (WHO) notes that approximately 1 billion people are suffering from varied eye-related health issues including glaucoma, cataracts, and short and far sightedness. Hence, the need for various myopia and presbyopia treatment types is being rising globally. This, in turn, is likely to create prominent business opportunities in the market, note analysts of a TMR review.
According to the statistics, around 1.1 Bn population was suffering from untreated presbyopia or farsightedness in 2020. Moreover, there has been increase in the prevalence of lifestyle-related diseases such as diabetes globally. These factors are foreseen to boost the demand for myopia and presbyopia treatment solutions in the upcoming years.
Due to adverse effects of several vision correction techniques such as special drugs or surgeries, major patient population is inclining toward wearing contacts or glasses. This aside, LASIK surgery options are not being approved by FDA for children below age of 18. Hence, there has been a surge in the demand for vision correction through contact lenses and glasses worldwide, notes a TMR assessment.

Myopia and Presbyopia Treatment Market: Growth Boosters

Rise in the prevalence of vision impairment is projected to lead to high avenues of demand in market of myopia and presbyopia treatment
Increase in the number of diabetic people across the globe is anticipated to drive the sales growth in the market during the forecast period
Surge in the number of older people globally is fueling the sales growth in the market

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Myopia and Presbyopia Treatment Market: Key Players

Some of the key players profiled in the report are:

NIDEK CO., LTD.
Ziemer Ophthalmic Systems AG
Essilor Ltd.
Johnson & Johnson Vision
ALCON VISION LLC
Zeiss International
Carl Zeiss AG
Bausch & Lomb Incorporated.
Regeneron Pharmaceuticals Inc.
Orasis Pharmaceuticals,
Topcon Corporation
Haag-Streit UK
Sydnexis
AbbVie
The Cooper Companies Inc

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