Presbyopia Treatment Market to Witness Highest Growth Due to Increasing Presbyopia Cases

Presbyopia Treatment Market to Witness Highest Growth Due to Increasing Presbyopia Cases

Presbyopia is a medical condition where the crystalline lens of the eye loses its ability to change focus from far to near points which leads to difficulty in performing near vision activities like reading, writing and seeing objects closely. It usually affects people over the age of 40 and its prevalence increases with age. Presbyopia treatment involves using reading glasses, contact lenses or undergoing refractive surgery procedures like LASIK to improve near vision. Reading glasses are the most economical option but presbyopia correcting contact lenses provide a more practical alternative by eliminating dependency on glasses. Refractive surgeries provide a permanent solution but are an expensive option.

The presbyopia treatment market is estimated to be valued at USD 19.1 Bn in 2024 and is expected to reach USD 26.4 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

Key Takeaways
Key players operating in the Presbyopia Treatment market are Essilor, Zeiss, CooperVision, Johnson & Johnson, Alcon and Hoya Vision. The increasing prevalence of computer and digital device usage is accelerating the onset of presbyopia at an earlier age.

Major players are focusing on developing advanced presbyopia correcting contact lenses and IOLs to improve the quality of life for presbyopia patients. The Presbyopia Treatment Market technological advancements like extended depth of focus and multifocal IOLs provide better visual outcomes and reduced dependency on glasses post-cataract surgery.

Market Trends
Multifocal contact lenses are gaining popularity as they provide good intermediate and distance vision along with near vision correction. EDOF IOLs are emerging as an alternative to multifocal IOLs as they have less visual side-effects. Presbyopia management with orthokeratology is trending wherein contact lenses are worn overnight to temporarily reshape the cornea and improve near vision during the day.

Market Opportunities
In emerging markets, increasing disposable incomes are raising the affordability of refractive surgeries for presbyopia treatment. Advancements in AI and digital diagnostics offer opportunities to detect early signs of presbyopia and recommend personalized treatments.

Impact of COVID-19 on Presbyopia Treatment Market Growth
The COVID-19 pandemic has significantly impacted the Presbyopia Treatment market growth in a negative way. During the early stages of lockdown across various regions, there was a decline in patient visits to ophthalmology clinics and delay or cancellation of elective surgeries. Social distancing norms and restrictions on non-essential medical procedures reduced the demand for presbyopia treatment devices and drugs significantly. Manufacturing and supply chain disruptions also affected the availability of products in the initial months.

As the pandemic progressed, telemedicine became an important medium for ophthalmologists to consult patients and monitor those already undergoing treatment. While virtual consultations helped maintain continuity of care, surgery volumes could not recover fully due to safety concerns and prioritization of critical cases. The overall revenue of market players declined in 2020 compared to the pre-Covid estimates. However, with mass vaccination drives and resumption of regular healthcare services, the Presbyopia Treatment market is projected to start witnessing growth from 2021 onwards. Companies are focusing on new product launches, partnerships and digital healthcare solutions to boost sales in the post-pandemic period.

Challenges in Presbyopia Treatment Market
The United States currently accounts for the major share of the global Presbyopia Treatment market in terms of value. This is attributed to factors like the large elderly population base, high healthcare spending, early adoption of advanced treatment options and presence of leading market players in the country. Within the US, states like California, Texas and New York have high concentration of target patients and clinics offering presbyopia correction procedures and drugs. The Presbyopia Treatment market is also fast gaining traction in countries like Japan, Germany, United Kingdom and Canada due to aging demographics and technological advancements.

Asia Pacific region is poised to be the fastest growing market for Presbyopia Treatment globally during the forecast period. This upwards trajectory will be majorly driven by nations like China, India and South Korea. Growing medical tourism, increasing healthcare investments, large untreated patient pool and rising lifestyle diseases are key factors supporting the market growth in Asia Pacific. Also, as the regional markets gradually recover from the pandemic's impact, they will provide lucrative opportunities for international players to further expand their footprints.

The Presbyopia Treatment Market in Middle East and Latin America is also emerging at a considerable pace. Countries such as Brazil, Mexico, United Arab Emirates, Saudi Arabia and Argentina are emerging as important revenue pockets. Awareness campaigns by optometry organizations, government initiatives for ocular health and establishment of proficient Eye care hospitals bode well for the long term prospects of these underpenetrated markets.

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About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.

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