Analyzing the Future of Myopia and Presbyopia Treatment Market Dynamics 2025-2034: Growth Rate, Trends, and Major Opportunities
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What key factors are powering the surge in the myopia and presbyopia treatment market right now?
The market for treating myopia and presbyopia has seen robust growth in the past few years. It is projected to expand from $21.04 billion in 2024 to $22.7 billion in 2025, with a compound annual growth rate (CAGR) of 7.9%. The surge in the historical period is due to factors such as the rising incidences of myopia and presbyopia, heightened awareness and educational campaigns, changes in lifestyle and screen time, a leaning towards non-surgical treatments by consumers, strengthening economies and increased healthcare expenditure, advancements in clinical research and development, along with improved accessibility to eye care services.
How fast Is the myopia and presbyopia treatment market expected to grow, and what’s its future value?
In the coming years, the market size for myopia and presbyopia treatment is predicted to witness substantial expansion. The market size is set to escalate to $31.43 billion by 2029, progressing at a compound annual growth rate (CAGR) of 8.5%. This growth trajectory during the forecast period is credited to the introduction of gene therapies for visual impairments, an emphasis on vision enhancement for lifestyle improvement, increasing acceptance of orthokeratology, cultural elements influencing eyecare methods, and a shift towards preventive eyecare. Major upcoming trends during the forecast period encompass telemedicine for eye care, pharmaceutical interventions, personalized contact lenses, devices to control myopia, advanced intraocular lenses (IoLS), refractive surgery for presbyopia, and lens implant technology.
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What are the leading drivers of growth in the myopia and presbyopia treatment market?
The increase in the elderly population is anticipated to contribute to the expansion of the myopia and presbyopia treatment market. The term “elderly population” refers to individuals who are 65 and older. These older individuals are more prone to various diseases due to decreased immunity and the natural aging process. The likelihood of developing myopia, presbyopia, and other eye-related conditions increases with age. The procedure for treating myopia and presbyopia involves examining both the visual and microscopic aspects of the eyes. This information is utilized to detect and manage a range of eye-related conditions among the elderly. For instance, the World Health Organization (WHO), a Swiss-based entity in charge of global public health, reported in October 2022 that by 2030, one in every six individuals globally is projected to be over 60. Furthermore, by 2050, the global population of individuals aged 60 or older is expected to reach 2.1 billion. Comparatively, the population of those aged 80 and above will surge to 426 million between 2020 and 2050. Consequently, the burgeoning elderly population is a major catalyst for the myopia and presbyopia treatment market’s growth.
What are the key segments defining the myopia and presbyopia treatment market?
The myopia and presbyopia treatment market covered in this report is segmented –
1) By Disease Type: Myopia, Presbyopia
2) By Myopia Treatment Type: Corrective, Surgical, Drugs
3) By Presbyopia Treatment Type: Prescription Lenses, Contact Lenses, Intraocular Lenses, Refractive Surgery
Subsegments:
1) By Myopia: Eyeglasses And Contact Lenses, Refractive Surgery, Pharmacological Treatments, Orthokeratology
2) By Presbyopia: Multifocal Eyeglasses, Bifocal Contact Lenses, Presbyopia-Correcting Surgery, Pharmacological Treatments
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Who are the key players steering the development of the myopia and presbyopia treatment market?
Major companies operating in the myopia and presbyopia treatment market are ALCON Inc., Bausch & Lomb Incorporated, Carl Zeiss AG, Essilor Ltd., Hagg Striet UK Ltd., Johnson & Johnson Vision Inc., Nidek Corporation, Topcon Corporation, Zimmer Ophthalmic Systems AG, AbbVie Inc., Orasis Pharmaceuticals Ltd., Regeneron Pharmaceuticals Inc., Sydnexis Inc., The Cooper Companies Inc., Staar Surgical Co., Eyenovia Inc., Allergan PLC, Hoya Corporation, Novartis AG, Menicon Co. Ltd., CooperVision Inc., Visioneering Technologies Inc., AcuFocus Inc., Ocular Therapeutix Inc., SightGlass Vision Inc., Presbia PLC, Ophthotech Corporation, OphthaliX Inc., LensGen Inc., Lightico Ltd., RxSight Inc., Perfect Lens LLC
What emerging trends are influencing the growth of the myopia and presbyopia treatment market?
The emergence of sophisticated solutions is a significant trend noticed in the myopia and presbyopia treatment market. The primary firms in the market are placing emphasis on the creation of high-tech solutions in order to maintain their status in this field. For example, in September 2024, Entod Pharmaceuticals, an Indian manufacturing firm, introduced PresVu Eye Drops — India’s first eye drop specifically designed for presbyopia, a prevalent age-related vision problem usually affecting individuals over 40. With the endorsement of the Drug Controller General of India (DCGI), PresVu aims to lessen the reliance on reading glasses and simultaneously lubricate the eyes. These eye drops use advanced dynamic buffer technology to guarantee consistent effectiveness and safety for prolonged usage.
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Which regions are most influential in expanding the myopia and presbyopia treatment market?
North America was the largest region in the myopia and presbyopia treatment market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the myopia and presbyopia treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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