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Industry Insights, Market Size, CAGR, High-Level Analysis: Myopia And Presbyopia Treatment MarketThe global myopia and presbyopia treatment market size was valued at USD 15.5 billion in 2018 and is expected to expand at a CAGR of 7.7% over the forecast period. Increasing cases of vision loss largely due to myopia coupled with rising incidence of distance vision impairment due to uncorrected myopia, are some of the major factors expected to drive the growth. High prevalence of presbyopia on is expected to boost the market growth. More than 1.1 billion individuals around the world are suffering from presbyopia, out of which, one third are above 50 years of age. More than 90% of this patient pool belongs to developing countries. Hence the developing countries are expected to exhibit significant demand for myopia and presbyopia treatment during the forecast period. Rise in geriatric population prone to vision loss and the number of individuals above 40 years of age across the globe is projected to fuel the market growth. Most adults, in their mid-40s, start developing age-related eye diseases, thus augmenting the demand for myopia and presbyopia treatment. Undiagnosed presbyopia is one of the major challenges expected to have a high impact on the vision care industry. The pathophysiology of presbyopia is still unclear, thereby, resulting in late diagnosis and increased treatment costs. Introduction of advanced lenses such as intraocular phakic presbyopic lenses and implantable contact lenses, is expected to drive the market growth. These lenses can correct significant degree of nearsightedness, reduce the possibility of dry eyes, can be surgically removed, and are suitable for non-LASIK patients. Such advantages are anticipated to fuel the demand in near future. PresbyLASIK is one of the advanced options available for correcting presbyopia. This involves usage of laser therapy for inducing spherical aberration to make cornea multifocal. Another, advanced option for presbyopic patients includes corneal inlays. Currently only two corneal inlays are approved for the correction of presbyopia. Increasing number of ongoing studies and wide product pipeline are the factors expected to boost the market growth. Myopia Treatment
Type Insights of Myopia And Presbyopia Treatment MarketBy myopia treatment type, the market is divided into corrective, surgical, and drugs. Corrective segment is further divided into prescription and contact lenses. Single, bifocal, and trifocal among others are the major types of corrective prescription treatments. Contact lenses include implantable contact lenses. Surgical segment includes Laser-Assisted In Situ Keratomileusis (LASIK), Laser Epithelial Keratomileusis (LASEK), and Photorefractive Keratectomy (PRK). Single prescription lenses segment held largest share in the myopia and presbyopia treatment market in 2018, owing to increasing prevalence of myopia in developing countries. Rising patient pool is projected to contribute to the growing demand for corrective lenses. LASIK surgery is largely adopted as one of the surgical procedures for the treatment of myopia and is expected to witness significant growth during forecast period owing to its permanent nature and minimally invasive procedure. Increasing use of advanced intraoperative imaging and technology along with advancements in surgical instruments with artificial intelligence and robot assisted surgeries are the factors anticipated to fuel the segment growth. Features of the surgery, such as minimally invasiveness, accuracy, and speed are also drive its popularity, thereby, driving its adoption. Technologically advanced solutions help reduce the average turnaround time for ophthalmic surgeries significantly. Increasing availability of advanced equipment and decreasing services costs are expected to boost the demand for surgeries during the forecast period. Presbyopia Treatment
Type Insights of Myopia And Presbyopia Treatment MarketOn the basis of presbyopia treatment, the market is categorized as prescription lens, contact lens, intraocular lens, and refractive surgery. Prescription lenses segment is further categorized into reading glasses, bifocals, trifocals, progressive multifocals, and office progressives. Contact lens is further categorized into bifocal, multifocal, monovision, and modified monovision. Conductive Keratoplasty, LASIK, LASEK, and PRK are effective refractive surgical procedures used for the presbyopia treatment. LASIK is a widely accepted surgical procedure for the treatment of presbyopia. The surgery involves reshaping the cornea to improve farsightedness or hyperopia. High prevalence of these conditions coupled with rising demand for LASIK surgery is expected to boost the market growth during the forecast period. Progressive multifocals is expected to be the fastest growing segment over the forecast period owing to increasing preference for presbyopia correction. They are widely accepted due to aesthetic and visual advantages, such as image clarity while rejecting image jumping during eye movements. In addition, innovations, such as multifocals with anti-reflexive coating and photochromic lenses, are also expected to propel the segment growth.
Regional Insights of Myopia And Presbyopia Treatment MarketNorth America is expected to hold the maximum market share owing to availability of advanced technologies for the treatment of the targeted disorders coupled with the presence of a large number of market players in the region. Asia Pacific is expected to be the fastest growing region over the forecast period owing to rapid rise in geriatric population, high prevalence of eye diseases, and growing medical tourism. In addition, rising disposable income of consumers is also expected to drive the regional market expansion in near future. Europe is also expected to witness significant growth in the forthcoming years owing to growing geriatric population and awareness regarding the treatment of the targeted disorders.
Myopia and Presbyopia Treatment Market Share InsightsSome of the key market players are Ziemer Ophthalmic Systems AG, NIDEK CO., LTD., Johnson & Johnson Vision, Essilor Ltd., Zeiss International, ALCON VISION LLC, Bausch & Lomb Incorporated, Haag-Streit UK, and Topcon Corporation. These players focus on adopting growth strategies, such as innovations in the existing technologies, launch of efficient techniques, collaborations, mergers and acquisitions, and more. Johnson and Johnson Visionone of the leading companies predicts that by the next thirty years half of the worlds population will be affected by high myopia. In 2018, the company announced research collaboration with the Singapore National Eye Centre (SNEC) and Singapore Eye Research Institute (SERI). The collaboration aims at understanding the progression of the condition and developing modern techniques and treatment strategies for the prevention and treatment of myopia.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Myopia And Presbyopia Treatment Market Research ReportThis 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 2015 to 2026. For the purpose of this study, this market research report has segmented the global myopia and presbyopia treatment market report on the basis of myopia treatment type, presbyopia treatment type, and region:
Myopia Treatment Type Outlook (Revenue, USD Million, 2019 - 2030)
- Prescription Lenses
- Contact Lenses
Presbyopia Treatment Type Outlook (Revenue, USD Million, 2019 - 2030)
- Prescription Lenses
- Reading Glasses
- Progressive Multifocals
- Office Progressives
- Contact Lenses
- Modified Monovision
- Intraocular Lenses
- Refractive Surgery
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.1.1. Type 1.1.2. Regional 1.1.3. Estimates and forecast timeline 1.2. Research Methodology 1.3. Information Procurement 1.3.1. Purchased database 1.3.2. GVR’s internal database 1.3.3. Secondary sources 1.3.4. Primary research 1.3.5. Details of primary research | read more...