The Global Myopia And Presbyopia Treatment Market is estimated to be valued at US$ 24.4 Bn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Myopia and presbyopia can be treated with corrective lenses, contact lenses, refractive surgery and newer artificial lenses. Corrective lenses and contact lenses offer advantages like better vision, convenience and customized solutions for changing prescriptions.
Market key trends:
One of the key trends in the market is the rising adoption of multifocal and accommodative intraocular lenses. These innovative artificial lenses can treat both myopia and presbyopia in cataract patients with a single surgery. They work by changing their optical power to focus on near and distant objects. As patients prefer a surgery providing life-long near and distant vision without additional use of reading glasses, the demand for multifocal and accommodative IOLs is increasing rapidly. Their advantages over corrective and contact lenses will continue fueling the growth of the artificial lenses segment in the myopia and presbyopia treatment market.
Segment Analysis
The myopia and presbyopia treatment market is dominated by corrective eyewear segment due to high prevalence of vision correction disorders. Corrective eyewear segment comprises spectacles and contact lenses. Spectacles hold the major market share owing to affordable pricing and availability of innovative lenses that effectively correct vision. However, contact lenses segment is growing at a higher rate owing to rising young population preferring contact lenses over spectacles due to aesthetic appeal and convenience.
Key Takeaways
The Global Myopia And Presbyopia Treatment Market Share is expected to witness high growth, exhibiting a CAGR of 8.3% over the forecast period, due to increasing vision disorder prevalence amongst adults and children globally.
Regional analysis: Asia Pacific is expected to dominate the myopia and presbyopia treatment market during the forecast period. The high growth is attributed to rising geriatric population and increasing disposable income in countries such as China and India.
Key players: Key players operating in the myopia and presbyopia treatment market are ALCON Inc., Bausch Health Companies Inc., EssilorLuxottica (Essilor Ltd.), Johnson & Johnson Vision, NIDEK CO. LTD., Topcon Corporation, Zeimer Ophthalmic Systems AG, and ZEISS International.
The global myopia and presbyopia treatment market size is expected to reach US$ 24.4 Bn in 2023.
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