Myopia And Presbyopia Treatment Market Size, Share & Trends Analysis Report By Myopia Treatment Type (Corrective, Surgical, Drugs), By Presbyopia Treatment Type- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

According to Nova one advisor, the global Myopia and Presbyopia Treatment market size was exhibited at USD 17.47 billion in 2022 and is projected to hit around USD 40.7 billion by 2032, growing at a CAGR of 9.50% during the forecast period 2023 to 2032.

Key Takeaways:

• By myopia treatment type, single prescription corrective lenses held a significant share in the market in 2022 owing to the progression of myopia with age, thus requiring frequent changes of corrective lenses
• Based on presbyopia treatment type, the progressive multifocal segment is expected to grow significantly over the forecast period owing to the wide acceptance due to aesthetic advantages
• Multifocal contact lenses for the correction of presbyopia held the second-largest share in 2022 largely due to the easy availability and effective outcomes
• North America was the leading regional market in 2022 due to the rising demand for myopia and presbyopia contact lenses for vision correction
• The Asia Pacific region is anticipated to expand at the fastest growth rate during the forecast period due to the rising incidence of ophthalmic diseases and the growing geriatric population across several countries in Asia

Increasing cases of vision loss mainly due to myopia and rising incidence of distance vision impairment due to uncorrected myopia are some of the major factors expected to augment the overall market growth. In addition, the growing prevalence of presbyopia on a global scale is expected to foster the growth of the market over the forecast period. More than 2.1 billion individuals around the world suffered from presbyopia in 2020. Out of these individuals, one-third are aged more than 50 years. Nearly 128 million people in the U.S. are living with presbyopia. According to the WHO, in 2020, nearly 826 million were affected by unaddressed presbyopia. In addition, the number of presbyopia is the largest in East Asia, South Asia, and Southeast Asia, reporting more than twice that of other regions. Hence, the developing countries are expected to witness significant growth during the forecast period.

The growing geriatric population that is prone to vision loss and aging adults (individuals above 40 years of age) across the globe are fueling the market growth. Most adults in their mid-40s start developing age and lifestyle-associated vision myopia treatment types. These myopia treatment types are expected to grow into myopia and presbyopia, thus augmenting the demand for myopia and presbyopia treatment. Undiagnosed presbyopia is one of the major challenges, which is expected to have a high impact on the vision care industry. The pathophysiology of presbyopia is still unclear to many people, thereby resulting in late diagnosis and increased treatment costs.

People already affected with myopia or presbyopia have started opting for telemedicine in the midst of COVID-19. With the widespread adoption of telemedicine, eye care professionals and regular consultants are continuing the monitoring of myopia progression, creating minimal impact on market growth. Many medical practices and hospitals are affected during the COVID-19 pandemic owing to several changes in protocols. The ophthalmology procedures are also affected in this novel disease outbreak as health checkups including ophthalmology were reduced due to COVID-19 restrictions. Due to the increased risk of spreading infection through contact lenses, many people opt for LASIK surgery for vision correction. Such reductions in elective ophthalmic surgeries are anticipated to create a negative impact on the overall market growth.

Additionally, the introduction of advanced lenses such as intraocular phakic presbyopic lenses and implantable contact lenses is expected to drive the market during the forecast period. These lenses are expected to gain enough popularity owing to their benefits. They have the capability of correcting a significant degree of nearsightedness, are less prone to dry eyes, can be surgically removed, and can be ideally used for non-LASIK patients.

Report Scope of the Myopia and Presbyopia Treatment Market

Myopia Treatment Type Insights

The single prescription lenses segment held the largest revenue share of over 31.7% in 2022. This is due to the increasing prevalence of myopia in developing countries. The growing patient pool is contributing to the growing demand for corrective lenses. Features of the surgery such as minimally invasiveness, accuracy, and speed are also affecting the popularity of the surgery, thereby driving the adoption of myopia and presbyopia treatment.

Technologically advanced solutions are helping to significantly decrease the average turnaround time for ophthalmic surgeries. The increasing availability of advanced equipment and decreasing service costs are expected to boost the demand for surgeries during the forecast period.

Presbyopia Treatment Type Insights

Prescription lenses captured the largest revenue share of more than 26.9% in 2022. Contact lenses are also categorized as bifocal, multifocal, monovision, and modified monovision. Conductive keratoplasty, LASIK, LASEK, and PRK are effective refractive surgical procedures used for the treatment of presbyopia. LASIK is a widely accepted surgical procedure for the treatment of presbyopia. The surgery involves the reshaping of the cornea to improve far vision. Hence, the high prevalence of these myopia treatment types and growing demand for LASIK surgery are expected to foster the market growth during the forecast period.

The progressive multifocals segment is expected to be the fastest-growing segment over the forecast period owing to the increasing preference for correcting presbyopia. They are widely accepted due to aesthetic and visual advantages, such as image clarity while rejecting image jumping during eye movements. In addition, innovations in multifocals, such as multifocals incorporated with anti-reflexive coating and photochromic lenses, are expected to propel the growth of the segment during the forecast period.

Regional Insights

North America dominated the market with over 21.0% share in 2022 and is expected to maintain its lead over the forecast period owing to the availability of advanced technologies for treating the targeted myopia treatment types and the presence of a large number of market players. Asia Pacific is expected to be the fastest-growing region over the forecast period owing to the geriatric population growth, the high prevalence of eye-related myopia treatment types, and growing medical tourism.

In addition, the rising disposable income of consumers is expected to drive the market for myopia and presbyopia treatment in the APAC region. Europe is expected to witness growth in the coming years owing to the growing geriatric population and increasing awareness regarding the treatment of targeted myopia treatment type.

Some of the prominent players in the Myopia and Presbyopia Treatment Market include:

• Ziemer Ophthalmic Systems AG
• NIDEK CO., LTD.
• Johnson & Johnson Vision
• Essilor Ltd.
• Zeiss International
• ALCON VISION LLC
• Bausch & Lomb Incorporated
• Haag-Streit UK
• Topcon Corporation

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Myopia and Presbyopia Treatment market.

• Myopia Treatment Type

• Corrective
• Prescription Lenses
• Single
• Bifocal
• Trifocal
• Others
• Contact Lenses
• Surgical
• Drugs
• Presbyopia Treatment Type
• Prescription Lenses
• Reading Glasses
• Bifocals
• Trifocals
• Progressive Multifocals
• Office Progressives
• Contact Lenses
• Bifocal
• Multifocal
• Monovision
• Modified Monovision
• Intraocular Lenses
• Refractive Surgery

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Myopia and Presbyopia Treatment industry analysis from 2023 to 2032 to identify the prevailing Myopia and Presbyopia Treatment industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Myopia and Presbyopia Treatment industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Myopia and Presbyopia Treatment industry trends, key players, market segments, application areas, and market growth strategies.