Myopia control lenses are worn in front of the eyes to control and slow the progression of myopia or nearsightedness in children and teens. Myopia is a common vision condition that occurs when the eyeball becomes too long or the cornea is curved too steeply, which results in the further objects to be focused in front of the retina instead of directly onto the retina. The use of myopia control lenses in children aims to regulate eye growth and reduce the rate of myopia progression.
Market key trends:
The increasing incidence rate of myopia among children and youth population across the globe is the major factor driving the growth of myopia control lenses market. According to a 2021 study published in Ophthalmology Science, the prevalence of myopia has increased significantly among children and teenagers over the past few decades. For instance, in East and Southeast Asia, the prevalence of myopia in children aged 5-17 years increased from 25-50% in 1980s to 60-90% in 2000s. Similarly, in the U.S., the prevalence increased from 25% in 1970s to over 40% in 2000s among ages 12-54 years. This rapid increase in myopia cases has created the demand for advanced myopia control solutions such as multifocal and soft contact lenses, which slow down the progression of myopia and help arrest elongation of the eyeball during early childhood.
Segment Analysis
The global myopia control lenses market is dominated by the multifocal contact lenses subsegment. Multifocal contact lenses work by slowing progressions of myopia and reducing axial length of the eye. They provide clear vision for far and near through correcting farsightedness in some areas and nearsightedness in other areas of the lens. This allows the eye muscles to work differently and slows myopia progression more efficiently than single vision lenses.
Key Takeaways
The Global Myopia Control Lenses Market Size is expected to witness high growth over the forecast period. The global Myopia Control Lenses Market is estimated to be valued at US$ 1.46 Mn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031.
Regional analysis related content
Asia Pacific accounts for the largest share in the global myopia control lenses market and is expected to remain the dominant as well as fastest growing regional market during the forecast period. Countries such as China, Japan, South Korea, India, and Australia are primary revenue generators for myopia control lenses in Asia Pacific. A high prevalence of myopia in Asian children and teenagers, availability of advanced myopia control lens products, and increasing healthcare spending are some of the key factors contributing to the leading market position of Asia Pacific.
Key players related content
Key players operating in the myopia control lenses market are Stack-On, Liberty Safe, Cannon Safe, Brown Safe, Mesa Safe, Fort Knox, Blue Dot Safes, SecureIt Gun Storage, Amsec, Gardall Safe, GunVault, First Alert, Rhino Metals, Barska, V-Line Industries, SentrySafe, Homak Manufacturing, Gun Safe America, Superior Safe Company, Sturdy Gun Safe.
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