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What fueled the previous growth in the myopia treatment devices market?

The market for myopia treatment devices has seen impressive growth in recent years. The market’s growth is expected to continue, with its worth increasing from $6.88 billion in 2024 to $7.53 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.5%. Factors such as government health policies, escalated research and development efforts, improved patient awareness programs, increased disposable income, and a heightened emphasis on children’s eye care have contributed to its growth in the historic period.

What will be the myopia treatment devices market size in the future?

The market for myopia treatment devices is projected to witness robust expansion in the upcoming years, anticipating to reach a worth of $10.70 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.2%. The forecasted growth during this period can be related to the rise in telemedicine services, progress in gene therapy, the broadening scope of myopia control programs, improved surgical methodologies, and the inclusion of artificial intelligence (AI) in the diagnosis process. The forecast period also expects a surge in trends like refined refractive surgery, solutions for digital eye strain, advanced contact lenses, laser refractive operations, and biosensors for eye healthcare.

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What main drivers are fueling expansion in the myopia treatment devices market?

The rising incidence of eye conditions is projected to stimulate the expansion of the myopia treatment devices market. Eye diseases encompass a variety of disorders that can impair the eye’s structure or function, and by extension, vision. The surge in eye illnesses can be attributed to an aging populace, increased screen usage, changes in lifestyle, and heightened exposure to environmental pollutants. Devices for treating myopia can aid in the management of eye issues by mitigating the progress of myopia, enhancing visual precision, and lessening the probability of related complications, positioning them as a proactive solution to preserve ocular health and improve the life quality of those affected. As an example, the Centers for Disease Control and Prevention, a government agency in the US, indicated that in May 2024, 17.2% of Americans aged 40 or over, which equates to around 20.5 million individuals, will have a cataract in at least one eye. This figure is projected to increase to over 30 million by 2028. Thus, the escalating incidence of eye diseases is propelling the growth of the myopia treatment devices market.

What key areas define the segmentation of the global myopia treatment devices market?

The myopia treatment devices market covered in this report is segmented –

1) By Product Type: Eye Glasses, Contact Lenses, Ortho-K Lenses, Phakic Intraocular Lenses, Excimer Laser Refractive Surgery Devices

2) By Treatment: Corrective Lenses, Laser Eye Surgery, Lens Implant Surgery

3) By End-Use: Hospitals And Clinics, Ophthalmic Centers, Retail stores, Online Channels

Subsegments:

1) By Eye Glasses: Single Vision Glasses, Multifocal Glasses

2) By Contact Lenses: Soft Contact Lenses, Rigid Gas Permeable (RGP) Contact Lenses, Hybrid Contact Lenses

3) By Ortho-K Lenses: Overnight Ortho-K Lenses, Daytime Ortho-K Lenses

4) By Phakic Intraocular Lenses: Anterior Chamber Phakic IOLs, Posterior Chamber Phakic IOLs

5) By Excimer Laser Refractive Surgery Devices: LASIK (Laser-Assisted in Situ Keratomileusis) Devices, PRK (Photorefractive Keratectomy) Devices, SMILE (Small Incision Lenticule Extraction) Devices

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Who are the dominant players expanding their reach in the myopia treatment devices market?

Major companies operating in the myopia treatment devices market are EssilorLuxottica S.A., Carl Zeiss Meditec AG, Alcon Inc., Hoya Corporation, Bausch & Lomb Incorporated, CooperVision Inc., Johnson & Johnson Vision Care Inc., Topcon Corporation, Menicon Co. Ltd., STAAR Surgical Company, Paragon Vision Sciences Inc., Ziemer Ophthalmic Systems AG, Euclid Systems Corporation, Art Optical Contact Lens Inc., Schwind Eye Tech Solutions GmbH, Kubota Pharmaceutical Holdings Co Ltd., Visioneering Technologies Inc., Eyerising International, Nidek Co Ltd., Falco Linsen AG

What key trends are currently impacting the myopia treatment devices market’s development?

Major companies operating in the myopia treatment devices market are prioritizing innovation and technological advancements, such as overnight therapeutic lenses, to strengthen their competitive position and meet the increasing demand for effective and user-friendly treatment options. An overnight therapeutic lens refers to a special type of contact lens that is worn overnight to achieve temporary vision correction, typically for conditions such as myopia (nearsightedness), astigmatism, or presbyopia. For instance, in January 2022, Johnson & Johnson Vision, a US-based pharmaceutical industry company, launched ACUVUE Abiliti, a new line of myopia management solutions aimed at addressing the growing prevalence of myopia in children. The ACUVUE Abiliti 1-Day Soft Therapeutic Lenses are designed to slow myopia progression in children aged 7 to 12 years. These innovative daily-wear lenses mark a significant advancement in myopia management, demonstrating an average reduction in axial elongation of 0.105 mm over six months. This reduction helps lower the long-term risks associated with high myopia, which can lead to severe vision complications in the future.

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Which regions are emerging as leaders in the myopia treatment devices market?

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

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