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How has the myopia treatment market size evolved in recent years?

The market for myopia treatments has significantly expanded over the last few years. The market, valued at $17.82 billion in 2024, is projected to increase to $19.58 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.9%. Factors that contributed to this growth in the past include a surge in the aging population, enhanced state-focused awareness programs, a rise in understanding of myopia treatment options, increased funding towards research and development, and a heightened occurrence of distance vision problems.

What are the predictions for the myopia treatment market size in the coming years?

Significant progress in the myopia treatment market size is anticipated in the upcoming years. The prediction is for it to escalate to $28.16 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 9.5%. The projected growth for this period can be connected with the increase in far-vision visual impairment, the rise in digital channel utilization, improved healthcare infrastructure, escalating incidents of myopia, and elevated vision loss cases. Prevailing trends for the forecasted timeframe include the use of rigid gas-permeable contact lenses, progress in light-centered treatments, innovative research exploring genetic influences, the incorporation of digital platforms and apps, and advancements in atropine eye drops.

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What key factors are fueling the growth of the myopia treatment market?

The anticipated surge in the myopia treatment market is being attributed to the rising screen time. Screen time relates to the duration one spends interacting with screen-based devices including smartphones, computers, tablets, or TVs. The escalation in screen time arises from the growing popularity of streaming platforms, increased use of social media, the shift to remote work, and the rise in virtual meetings. Myopia treatments help alleviate eye discomfort and strain linked with extended screen time, promoting better focus, comfort, and enhanced visual sharpness. For instance, the Centers for Disease Control and Prevention, a US government agency, reported in October 2024 that from July 2021 to December 2023, 50.4% of teenagers aged 12–17 spent at least 4 hours daily on screens, while 22.8%, 17.8%, 6.1%, and 3.0% utilized screens for 3 hours, 2 hours, 1 hour, and less than 1 hour daily, respectively. Thus, the uptick in screen time is fueling the expansion of the myopia treatment market.

How is the global myopia treatment market divided into key segments?

The myopia treatment market covered in this report is segmented –

1) By Type: Simple Myopia, High Myopia, Pathological Myopia

2) By Treatment: Eyeglasses, Contact Lenses, Refractive Surgery, Laser-Assisted In Situ Keratomileusis (LASIK), Photorefractive Keratectomy (PRK), Orthokeratology (Ortho-K)

3) By Route Of Administration: Oral, Parenteral, Other Routes Of Administration

4) By Distribution Channel: Direct Tender, Retail Sales, Other Distribution Channels

5) By End-User: Hospital Or Clinical Laboratories, Physician Offices, Reference Laboratories, Other End-Users

Subsegments:

1) By Simple Myopia: Mild Myopia, Moderate Myopia

2) By High Myopia: Severe Myopia, Very Severe Myopia

3) By Pathological Myopia: Degenerative Myopia, Malignant Myopia

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Who are the key firms paving the way for growth in the myopia treatment market?

Major companies operating in the myopia treatment market are Regeneron Pharmaceuticals Inc., Alcon Inc., Bausch Health Companies Inc., Hoya Corporation, Johnson & Johnson Vision Care Inc., CooperVision Inc., Menicon Co. Ltd., Topcon Healthcare Inc., Essilor Ltd., NIDEK CO. LTD., SightGlass Vision Inc., SCHWIND eye-tech-solutions GmbH, Visioneering Technologies Inc., MEDMONT INTERNATIONAL PTY LTD., Vyluma Inc., Haag-Streit Holding AG, NovaSight Ltd., Euclid Vision Corporation, Treehouse Eyes LLC, Sydnexis Inc., Neurobit Technologies Co. Ltd., Kubota Pharmaceutical Holdings Co. Ltd.

How are evolving market trends shaping myopia treatment Strategies?

Major companies operating in the myopia treatment market are focusing on developing advanced products such as optical biometers to enhance diagnostic precision and tailor effective, individualized treatments. Optical biometers use light to measure eye parameters, such as axial length and corneal curvature, to diagnose and monitor eye conditions. For instance, in February 2023, NIDEK Co., Ltd., a Japan-based manufacturer of ophthalmic products, launched an AL-Scan M and MV-1. This AL-Scan M device incorporates 3D auto-tracking and auto-shot functions, enabling efficient and user-friendly measurements similar to an autorefractor’s. These features improve patient throughput, particularly for younger patients. The AL-Scan M is precisely engineered to provide precise axial length measurements, a critical factor in monitoring myopia progression. Additionally, it seamlessly integrates with the MV-1 Myopia Viewer software, which helps track treatment history and patient behavior.

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What regions are contributing significantly to the growth of the myopia treatment market?

Asia Pacific was the largest region in the myopia treatment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the myopia treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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