Myopia and Presbyopia Treatment Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 26.13 Billion |
| Market Size (2029) | USD 33.53 Billion |
| CAGR (2024 - 2029) | 5.11 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Myopia and Presbyopia Treatment Market Analysis
The Global Myopia and Presbyopia Treatment Market size is estimated at USD 26.13 billion in 2024, and is expected to reach USD 33.53 billion by 2029, growing at a CAGR of 5.11% during the forecast period (2024-2029).
The market for myopia and presbyopia is currently growing at a healthy rate, which is majorly associated with the rising number of people with vision impairment and the rapid growth in the geriatric population worldwide.
The COVID-19 pandemic is an unprecedented health concern adversely affecting communities, industries, businesses, and lives worldwide. Great damage has been observed in people's eyesight due to increased screen time. For instance, according to a survey report published in July 2021 by the UK-based Feel Good Contacts, in 2020, due to the lockdown, Indians suffered maximum damage to eyesight due to increased screen time. About 27.5 crore Indians, about 23% of the population, reported their eyesight weakening because of excessive screen time. Moreover, the study Progression of Myopia in School-Aged Children After COVID-19 Home Confinement noted a substantial myopic shift (0.3 diopters) after home confinement amongst children aged 6-8 years.
The prevalence of myopia increased from 1.4 to 3 in 2020 compared to the previous five years globally. The prevalence of vision impairment issues such as myopia is increasing globally at an alarming rate, with significant increases in vision impairment risks from pathologic conditions associated with high myopia, including retinal damage, cataract, and glaucoma. These diseases are causing an elevation in the incidence of visual impairment. The demand for treatment options, like contact, concave, or prescription lenses, has increased tremendously worldwide.
Various countries' governments are focusing on improving patient flow, for which they are also considering increasing the number of eye clinics. The increasing number of eye clinics is augmenting the rise in the procedural volume of eye surgeries, favoring the market studied.
Myopia and Presbyopia Treatment Market Trends
This section covers the major market trends shaping the Myopia & Presbyopia Treatment Market according to our research experts:
Myopia is Expected to Hold Significant Market Share in the Disease Type Segment
Various factors are responsible for the rising cases of myopia, including reduced time spent outdoors and increased urbanization rates. The rising geriatric population and the prevalence of vision impairment and other eye conditions are also likely to lead to a substantial increase in the number of people who need eye care globally, supplementing the market's growth.
The annual global costs of productivity losses associated with vision impairment from uncorrected myopia alone were estimated to be USD 244 billion, as per the World Report On Vision 2019 published by the World Health Organization. Several treatment options effectively correct the blurred vision caused by myopia, including corrective lenses and refractive surgeries. Thus, considering the rising cases of myopia, the market is expected to witness high growth over the forecast period.
North America Dominates the Market and is Expected to do Same in the Forecast Period
North America has the largest market share, and Asia-Pacific is witnessing the fastest growth. Developed healthcare infrastructure and availability of advanced treatment options in the North American region augment market growth.
The market's growth is also attributed to the presence of various key market players, increasing myopia and presbyopia cases, high adoption of contact lenses, and surgery options in the region. Moreover, the recent product launches, growing number of optometrists, and increasing awareness regarding available treatment options are fueling the market growth.
The launch of several programs by key market players for creating awareness regarding myopia and presbyopia will also drive the market in the region. For instance, in October 2021, CooperVision launched a US education initiative called Take Control: Myopia & You, aiming to increase awareness and encourage parents to schedule eye exams for their children. In June 2021, Euclid Systems Corp. launched a Max orthokeratology lens for overnight wear to reduce myopia temporarily. Thus, the above-stated factors lead to market growth in the country.
Myopia and Presbyopia Treatment Industry Overview
The global myopia and presbyopia treatment market is highly competitive and consists of several major players. Companies like ALCON Inc., Bausch Health Companies Inc., Johnson & Johnson Vision, Topcon Corporation, Zeimer Ophthalmic Systems AG hold a substantial share in the myopia and presbyopia treatment market.
Myopia and Presbyopia Treatment Market Leaders
-
Alcon Inc.
-
Bausch Health Companies Inc.
-
Johnson & Johnson
-
Carl Zeiss Meditec AG
-
Topcon Corporation
*Disclaimer: Major Players sorted in no particular order
Myopia and Presbyopia Treatment Market News
- In October 2021, Allergan, a subsidiary of AbbVie, received approval from the Food and Drug Administration for Vuity (pilocarpine hydrochloric acid ophthalmic solution) 1.25% for the treatment of presbyopia, also known as age-related blurry near vision, in adults.
- In May 2021, Johnson & Johnson Vision received the US FDA's approval for the ACUVUE Abiliti Overnight Therapeutic Lenses designed to reshape the cornea curve and help treat myopia progression in children.
Myopia and Presbyopia Treatment Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increasing Cases of Vision Impairment
- 4.2.2 Rising Geriatric Population
-
4.3 Market Restraints
- 4.3.1 Lack of Early Diagnosis
- 4.3.2 High Cost of Treatment
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
-
5.1 By Disease Type
- 5.1.1 Myopia
- 5.1.2 Presbyopia
-
5.2 By Treatment Type
- 5.2.1 Prescription Lenses
- 5.2.2 Contact Lenses
- 5.2.3 Surgery
- 5.2.4 Medication
-
5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle-East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle-East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
-
6.1 Company Profiles
- 6.1.1 ALCON Inc.
- 6.1.2 Bausch Health Companies Inc.
- 6.1.3 Essilor Luxottica (Essilor Ltd)
- 6.1.4 Johnson & Johnson Vision
- 6.1.5 NIDEK CO. LTD
- 6.1.6 Topcon Corporation
- 6.1.7 Zeimer Ophthalmic Systems AG
- 6.1.8 Carl Zeiss Meditec AG
- 6.1.9 AbbVie
- 6.1.10 Sydnexis
- 6.1.11 Regeneron Pharmaceuticals Inc.
- 6.1.12 Orasis Pharmaceuticals
- 6.1.13 The Cooper Companies Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Myopia and Presbyopia Treatment Industry Segmentation
As per the scope of the report, myopia is the condition in which incoming light does not directly focus on the retina but in front of it. Presbyopia becomes more frequent. Presbyopia is the condition in which incoming light focuses behind the retina, leading to difficulty focusing on close-up objects. The Myopia and Presbyopia Treatment Market is Segmented by Disease Type (Myopia and Presbyopia), Treatment Type (Prescription Lenses, Contact Lenses, Surgery, and Medication), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Disease Type | Myopia | |
| Presbyopia | ||
| By Treatment Type | Prescription Lenses | |
| Contact Lenses | ||
| Surgery | ||
| Medication | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle-East and Africa | GCC |
| South Africa | ||
| Rest of Middle-East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Myopia and Presbyopia Treatment Market Research FAQs
How big is the Global Myopia and Presbyopia Treatment Market?
The Global Myopia and Presbyopia Treatment Market size is expected to reach USD 26.13 billion in 2024 and grow at a CAGR of 5.11% to reach USD 33.53 billion by 2029.
What is the current Global Myopia and Presbyopia Treatment Market size?
In 2024, the Global Myopia and Presbyopia Treatment Market size is expected to reach USD 26.13 billion.
Who are the key players in Global Myopia and Presbyopia Treatment Market?
Alcon Inc., Bausch Health Companies Inc., Johnson & Johnson, Carl Zeiss Meditec AG and Topcon Corporation are the major companies operating in the Global Myopia and Presbyopia Treatment Market.
Which is the fastest growing region in Global Myopia and Presbyopia Treatment Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Myopia and Presbyopia Treatment Market?
In 2024, the North America accounts for the largest market share in Global Myopia and Presbyopia Treatment Market.
What years does this Global Myopia and Presbyopia Treatment Market cover, and what was the market size in 2023?
In 2023, the Global Myopia and Presbyopia Treatment Market size was estimated at USD 24.86 billion. The report covers the Global Myopia and Presbyopia Treatment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Myopia and Presbyopia Treatment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Myopia and Presbyopia Treatment Industry Report
Statistics for the 2024 Myopia and Presbyopia Treatment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Myopia and Presbyopia Treatment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
