How the Myopia and Presbyopia Treatment Market Will Grow: Key Trends, Market Size, and Opportunities Beyond 2025
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Primary Drivers Are Supporting the Continued Market Growth of theMyopia and Presbyopia Treatment Market?
The escalating number of elderly individuals is anticipated to stimulate the expansion of the myopia and presbyopia treatment market. The term “geriatric population” denotes individuals who are 65 years of age or older. Due to decreased immunity and advanced age, this population segment is prone to a range of diseases. The likelihood of developing myopia, presbyopia, and other eye-related conditions increases with age. The treatment for myopia and presbyopia involves analyzing the visual and microscopic aspects of the eyes to detect and manage various eye diseases prevalent among the elderly. For instance, a report issued by the World Health Organization (WHO), a Switzerland-based international public health body, in October 2022 revealed that by 2030, one in every six people globally is projected to be 60 years old or above. Furthermore, by 2050, the global population of individuals aged 60 and above would reach 2.1 billion. There is also expected to be a surge of 426 million people aged 80 or above from 2020 to 2050. Hence, the burgeoning geriatric populace is a major driver for the myopia and presbyopia treatment market.
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#How Does the ProjectedMyopia and Presbyopia Treatment Market Growth Compare Over the Forecast Period?
There has been a significant expansion in recent years in the market size for myopia and presbyopia treatments. Expected to escalate from a market worth $21.04 billion in 2024, it is projected to reach $22.7 billion in 2025, embodying a compound annual growth rate (CAGR) of 7.9%. This historical growth trend reflects various factors such as the increased incidence of myopia and presbyopia, efforts towards raising awareness and education, lifestyle changes and increased screen usage, consumers favoring non-surgical treatments, economic progression and more spending on healthcare, advancements in clinical research and development, and improved access to eye care services.
It is anticipated that the myopia and presbyopia treatment market will experience significant growth in the approaching years, reaching a value of $31.43 billion in 2029, with an 8.5% compound annual growth rate (CAGR). Factors contributing to this predicted growth in the forecast period include the emergence of gene therapies specifically for eye conditions, emphasis on improving vision for lifestyle enhancement, increased usage of orthokeratology, sociocultural effects on eyecare approaches, and a shift towards preventive eyecare methods. Several trends are expected to emerge in the forecast period: vision care through telemedicine, pharmaceutical treatments, personalized contact lenses, devices for controlling myopia, advancement in intraocular lenses (IoLs), refractive surgery for presbyopia treatment, and evolving lens implant technologies.
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How Are Consumer Market Innovations Shaping the Current and Future Landscape of theMyopia and Presbyopia Treatment Market?
The rising trend of incorporating cutting-edge technology in solutions is garnering significant attention in the myopia and presbyopia treatment market. Numerous prominent entities operating within the market are striving for the development of these technologically superior solutions, to maintain their standing in the myopia and presbyopia treatment industry. To illustrate, Entod Pharmaceuticals, a company based in India, unveiled PresVu Eye Drops, India’s inaugural eye drop designed specifically to address presbyopia – a vision issue prevalent in people generally over the age of 40 – in September 2024. Having obtained approval from the Drug Controller General of India (DCGI), the aim of PresVu is to decrease the reliance on reading glasses, whilst also offering eye lubrication. The eye drops employ advanced dynamic buffer technology for consistent efficiency and safety during prolonged usage.
Who Are the Key Market Players Influencing the Growth of the Corn and Myopia and Presbyopia Treatment Industry?
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
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Which Key Market Segments Comprise the Myopia and Presbyopia Treatment Market and Drive Its Revenue Growth?
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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