GVR Report cover Myopia And Presbyopia Treatment Market Size, Share & Trends Report

Myopia And Presbyopia Treatment Market Size, Share & Trends Analysis Report By Myopia Treatment Type (Corrective, Surgical), By Presbyopia Treatment Type (Prescription, Contact Lenses), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Dec, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-3-68038-678-3
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 110

Report Overview

The global myopia and presbyopia treatment market size was valued at USD 15.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.9% from 2021 to 2028. Increasing cases of vision loss largely due to myopia and rising incidence of distance vision impairment due to uncorrected myopia, are some of the major factors expected to drive the overall market growth. In addition, the growing prevalence of presbyopia on a global scale is expected to boost the growth of the market over the forecast period. More than 2.1 billion individuals around the world suffered from presbyopia in 2020. Out of these individuals, one-third are aged more than 50 years. Nearly 128 million people in the U.S. are prevalent to presbyopia. According to the WHO, in 2020, nearly 826 million are affected by unaddressed presbyopia. Also, the number of presbyopia is the largest in East Asia, South Asia and Southeast Asia, reporting more than twice of other regions. Hence the developing countries are expected to exhibit significant market growth during the forecast period.

Canada myopia treatment market size, by type, 2018 - 2028 (USD million)

The growing geriatric population that is prone to vision loss and aging adults (individuals above 40 years of age) across the globe is fueling the market growth. Most adults, in their mid-40s, start developing age and lifestyle-associated vision disorders. These disorders are expected to grow into myopia and presbyopia, thus augmenting the demand for myopia and presbyopia treatment. Undiagnosed presbyopia is one of the major challenges which is expected to have a high impact on the vision care industry. The pathophysiology of presbyopia is still unclear to many people, thereby, resulting in late diagnosis and increased treatment costs.

Additionally, the introduction of advanced lenses such as intraocular phakic presbyopic lenses and implantable contact lenses is expected to drive the market for myopia and presbyopia during the forecast period. These lenses are expected to gain enough popularity owing to their benefits, such as the capability of correcting a significant degree of nearsightedness, being less prone to dry eyes, can be surgically removed, and can be ideally used for non-LASIK patients.

PresbyLASIK is one of the advanced options available for the correction of presbyopia. This involves the usage of laser therapy for inducing spherical aberration to make the cornea multifocal. Another, advanced option for presbyopic patients includes corneal inlays. Currently, only two corneal inlays are approved for the correction of presbyopia. The increasing number of ongoing studies and wide product pipeline are the factors expected to boost the market growth.

Myopia Treatment Type Insights

The single prescription lenses segment dominated the market for myopia and presbyopia and held the largest revenue share of more than 32.0% in 2020. This is due to the increasing prevalence of myopia in developing countries. Boosting patient pools is contributing to the growing demand for corrective lenses. Features of the surgery, such as minimally invasiveness, accuracy, and speed are also affecting the popularity of the surgery, thereby, driving its adoption for myopia and presbyopia treatment. Technologically advanced solutions are helping in significantly decreasing the average turnaround time for ophthalmic surgeries. The increasing availability of advanced equipment and decreasing services costs are expected to boost the demand for surgeries during the forecast period.

Presbyopia Treatment Insights

The prescription lens segment dominated the market for myopia and presbyopia and captured the largest revenue share of around 30.0% in 2020. Contact lenses are also categorized as bifocal, multifocal, monovision, and modified monovision. Conductive Keratoplasty, LASIK, LASEK, and PRK are effective refractive surgical procedures used for the treatment of presbyopia. LASIK is a widely accepted surgical procedure for the treatment of presbyopia. The surgery involves reshaping of the cornea to improve far vision.

Global myopia and presbyopia treatment market size, by indication, 2020 (%)

Hence, the high prevalence of these disorders and growing demand for LASIK surgery are factors expected to boost market growth during the forecast period. The progressive multifocal segment is expected to be the fastest-growing segment owing to the increasing preference for correcting presbyopia. They are widely accepted due to aesthetic and visual advantages, such as image clarity while rejecting image jumping during eye movements. In addition, innovations in multifocal, such as multifocal incorporated with anti-reflexive coating and photochromic lenses, are also expected to propel the growth of the segment during the forecast period.

Regional Insights

North America dominated the market for myopia and presbyopia and accounted for a revenue share of more than 25.0% in 2020 owing to the availability of advanced technologies for treating the targeted disorders and the presence of a large number of market players. Asia Pacific is expected to be the fastest-growing region over the forecast period owing to geriatric population growth, high prevalence of eye-related disorders, and growing medical tourism. In addition, the rising disposable income of consumers is also expected to drive myopia and presbyopia treatment market in the region. Europe is also expected to lead the market in the coming years owing to the growing geriatric population and growing awareness for the treatment of the targeted disorder.

Key Companies & Market Share Insights

Market players are focusing on adopting growth strategies, such as innovations in the existing technologies, the launch of efficient techniques, mergers and acquisitions, and more. Heavy investment in R&D is undertaken by market leaders to enable early diagnosis and identify efficient and quick operative techniques. This ensures novelty in the field and concretes market position. Increased collaborations are undertaken by major players like Johnson and Johnson, Zeimer Ophthalmic Systems AG, and many others, to develop advanced techniques and treatment strategies to provide improved and efficient treatment for myopia and presbyopia.  Such initiatives are likely to enhance their market presence. Some of the prominent players in myopia and presbyopia treatment market include:

  • Ziemer Ophthalmic Systems AG

  • NIDEK CO., LTD.

  • Johnson & Johnson Vision

  • Essilor Ltd.

  • Zeiss International

  • ALCON VISION LLC

  • Bausch & Lomb Incorporated

  • Haag-Streit UK

  • Topcon Corporation

Myopia And Presbyopia Treatment Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 16.4 billion

Revenue forecast in 2028

USD 28.0 billion

Growth Rate

CAGR of 7.9% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Norway; Sweden; Russia; Japan; India; China; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Turkey

Key companies profiled

Ziemer Ophthalmic Systems AG; NIDEK CO., LTD.; Johnson & Johnson Vision; Essilor Ltd.; Zeiss International; ALCON VISION LLC; Bausch & Lomb Incorporated; Haag-Streit UK; Topcon Corporation

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Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional, and segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented global myopia and presbyopia treatment market report on the basis of type and region:

  • Myopia Treatment Type Outlook (Revenue, USD Million, 2016 - 2028)

    • Corrective

      • Prescription Lenses

        • Single

        • Bifocal

        • Trifocal

        • Others

      • Contact Lenses

    • Surgical

    • Drugs 

  • Presbyopia Treatment Type Outlook (Revenue, USD Million, 2016 - 2028)

    • Prescription Lenses

      • Reading Glasses

      • Bifocals

      • Trifocals

      • Progressive Multifocals

      • Office Progressives

    • Contact Lenses

      • Bifocal

      • Multifocal

      • Monovision

      • Modified Monovision

    • Intraocular Lenses

    • Refractive Surgery 

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • Norway

      • Sweden

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

      • South Korea

      • Thailand

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • Turkey

      • UAE

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