Myopia and Presbyopia Treatment Forecast Report – Designed for Decision Makers and Product Teams
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What Is the Growth Rate of the Myopia and Presbyopia Treatment Market?
The market for treating myopia and presbyopia has expanded significantly in recent years. Projected growth sees it rising from $21.04 billion in 2024 to $22.7 billion in 2025 with a compound annual growth rate (CAGR) of 7.9%. The historical growth trend is a result of factors such as a growing number of myopia and presbyopia cases, increased awareness and education efforts, lifestyle changes and screen usage, preference for non-surgical solutions, economic progress and healthcare expenditure, clinical research and advancements, and the availability of eyecare services.
What Growth Rate Is Forecasted for the Myopia and Presbyopia Treatment Market by 2029?
The market for myopia and presbyopia treatment is set for robust expansion in the coming years, with a projected value of $31.43 billion by 2029, achieving a Compound Annual Growth Rate (CAGR) of 8.5%. This growth in the forecast period is the result of emerging gene therapies for eye disorders, a growing interest in vision correction for lifestyle improvement, broader use of orthokeratology, cultural aspects that influence eyecare practices, and a shift toward preventative eyecare. The forecast period’s major trends comprise telemedicine for vision treatment, pharmaceutical interventions, personalized contact lenses, devices to control myopia, advanced intraocular lenses (IoLs), refractive surgery for presbyopia, and lens implant technologies.
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Which Key Companies Are Shaping the Future 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
Which Factors Are Driving Demand in the Myopia and Presbyopia Treatment Industry?
The growth of the myopia and presbyopia treatment market is anticipated to be driven by the increasing geriatric population. This population consists of individuals who are 65 years old and above. Various diseases are prevalent among this demographic due to aging and diminished immunity. They have an elevated risk of developing myopia, presbyopia, and other eye-related conditions. The process of treating myopia and presbyopia involves examining both the visual and microscopic aspects of the eye to successfully diagnose and manage these eye conditions in the older population. A report by the World Health Organization (WHO), a Swiss agency that oversees international public health, indicated in October 2022 that by 2030, one in six people globally will be 60 years or older. By the year 2050, the global population of individuals aged 60 or older will reach 2.1 billion. The current population of those aged 80 or older will witness a rise of 426 million between 2020 and 2050. Consequently, the myopia and presbyopia treatment market is being fueled by the expanding geriatric population.
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How Is the Myopia and Presbyopia Treatment Market Segmented by Several Divisions?
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
What are the Emerging Market Trends Driving the Growth of the Myopia and Presbyopia Treatment Industry?
In the myopia and presbyopia treatment market, one predominant trend is the increasing deployment of high-tech solutions. Key players in the market are making strategic developments in sophisticated technologies to retain their market share. For instance, Entod Pharmaceuticals, an India-based company, introduced the PresVu Eye Drops in September 2024. These were the first-ever eye drops developed for presbyopia, a typical age-related vision condition affecting individuals aged 40 and above, in India. Recognition and approval by the Drug Controller General of India (DCGI) were granted. PresVu aims to offer a substitute for reading glasses while simultaneously moisturizing the eyes. This product incorporates advanced dynamic buffer technology, offering consistent efficiency and security even with prolonged use.
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Which Regions Are Driving Growth in 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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This Report Delivers Insight On:
1. How big is the myopia and presbyopia treatment market, and how is it changing globally?
2. Who are the major companies in the myopia and presbyopia treatment market, and how are they performing?
3. What are the key opportunities and risks in the myopia and presbyopia treatment market right now?
4. Which products or customer segments are growing the most in the myopia and presbyopia treatment market?
5. What factors are helping or slowing down the growth of the myopia and presbyopia treatment market?
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