The global market for myopia and presbyopia treatment is projected to experience significant growth, with an estimated value of USD 33.7 billion by 2030 and a notable compound annual growth rate (CAGR) of 8.8%. The driving force behind this growth is the substantial research and development efforts dedicated to addressing these common eye disorders.
A key contributor to the market’s expansion is the escalating prevalence of myopia and high myopia, particularly in developing countries across the Asia Pacific region, including Japan, China, Singapore, and the Republic of Korea. This surge in cases presents opportunities for industry players to introduce effective treatment solutions.
The United States, in particular, is seeing a substantial rise in myopia and presbyopia cases, especially among individuals over 42 years old. This trend has created a favorable environment for market growth in developed countries, with the introduction of technologically advanced surgical options and high adoption rates.
Advancements in diagnostic and surgical treatment solutions, such as LASIK, LASEK, and PRK, are being witnessed in the market. The integration of these techniques with artificial intelligence and robot-assisted surgical tools is expected to drive an increase in surgical procedures. Additionally, the introduction of multifocal intraocular lenses and implantable contact lenses is set to have a positive impact on market growth.
Key Market Highlights:
– Myopia Treatment Type: Single prescription corrective lenses, which require frequent changes, held a significant market share in 2022.
– Presbyopia Treatment Type: The progressive multifocal segment is expected to experience significant growth due to its wide acceptance and aesthetic advantages.
– Multifocal Contact Lenses: This segment held the second-largest share in 2022, primarily due to easy availability and effective outcomes.
– Regional Dominance: Asia Pacific emerged as the leading regional market in 2022, driven by the rising demand for myopia and presbyopia contact lenses for vision correction.
In conclusion, the global myopia and presbyopia treatment market is poised for substantial growth, fueled by increasing research efforts, the surge in eye disorders, and advancements in treatment options. Industry players have numerous opportunities to meet the growing demand for effective solutions in addressing these vision-related challenges.
Frequently Asked Questions (FAQs)
Q: What is myopia?
A: Myopia, commonly known as nearsightedness, is a visual condition where distant objects appear blurry, while close objects can be seen clearly.
Q: What is presbyopia?
A: Presbyopia is an age-related condition affecting the ability to see objects up close due to the loss of elasticity in the lens of the eye, resulting in difficulty focusing on nearby objects.
Q: What are some common treatment options for myopia?
A: Common treatment options for myopia include corrective lenses (prescription glasses or contact lenses) and surgical procedures such as LASIK, LASEK, and PRK.
Q: What are some common treatment options for presbyopia?
A: Common treatment options for presbyopia include prescription lenses (reading glasses, bifocals, trifocals, progressive multifocals, and office progressives), contact lenses (bifocal, multifocal, monovision, and modified monovision), intraocular lenses, and refractive surgery.