Global Myopia and Presbyopia Market by Treatment Type (Corrective, Surgical, and drug) By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-2026

Global Myopia Treatment Market has gained the momentum in recent years with a CAGR of 6.90%, in value terms, over the forecast period 2020-2026, and expected to reach at USD 14.80 Billion by 2026. Increasing cases of vision loss largely due to myopia coupled with rising incidence of distance vision impairment due to uncorrected myopia, are some of the major factors expected to drive the growth.

Global Presbyopia Treatment Market has gained the momentum in recent years with a CAGR of 7.35%, in value terms, over the forecast period 2020-2026. Growing prevalence of presbyopia cases globally is creating immense opportunities for industry players to develop effective treatment solutions. Among the developed nations, the U.S. is experiencing a significant increase in the incidence of presbyopia, especially in people above age of 40.

Request a sample copy of the report: https://www.reportocean.com/industry-verticals/sample-request?report_id=BWC128

Global Myopia and Presbyopia Market: Overview

Myopia (also called nearsightedness) is the most common cause of impaired vision in people under age 40. Myopia is an ocular disorder where the optical power of the eye is too high for the corresponding axial length. Light rays from an infinity object entering a non-accommodating myopic eye are too tightly converged and centered in front of the retina. The size of a myope is located in front of the eye, between the cornea and the optical infinity.

The uncorrected myope's visual acuity will continue to decrease as objects are located farther away from the far point and closer to the optical infinity. In comparison, visual acuity is greater for objects located between the distance of the eye and the nearest accommodation point.

Symptoms: The most common symptom of myopia is decreased distance vision. Patients with pathologic myopia may also report visual distortion secondary to retinal pathology.

Causes: Myopia occurs when the eyeball is too long, compared to the cornea's focusing power and the eye lens. It allows the light rays to focus on their surface at a point in front of the eye, rather than directly.

Presbyopia is a condition associated with eye aging that leads to a gradual loss of the ability to clearly focus on close objects. Symptoms include difficulty reading small printing, having to keep reading material at a distance, headaches and eyesight.

Presbyopia is the gradual loss of the ability of eyes to focus on nearby objects. It is a natural part of aging, sometimes irritating. Presbyopia usually gets apparent in early to mid-40s and tends to get worse until about 65 years of age.

Symptoms: Presbyopia develops gradually. Patient may first notice these signs and symptoms after age 40:

A tendency to hold reading material farther away to make the letters clearer

Blurred vision at normal reading distance

Eyestrain or headaches after reading or doing close-up work.

Growth drivers

Rising Technological Advancement

Myopia Treatment .

LASIK surgery is commonly accepted as one of the surgical procedures for the treatment of myopia and owing to its permanent nature and minimally invasive procedure is expected to witness substantial growth during the forecast era. The factors expected to drive segment growth are the growing use of advanced intraoperative imaging and technology along with developments in surgical instruments with artificial intelligence and robot assisted surgeries.

Presbyopia Treatment

LASIK is a commonly known surgical treatment for the presbyopia treatment. The surgery includes the reshaping of the cornea to improve hyperopia or farsightedness. It is predicted that high prevalence of these conditions coupled with increasing demand for LASIK surgery would fuel market growth during the forecast period. Technologically advanced approaches help to significantly reduce the mean turnaround time for ophthalmic surgeries.

Rising prevalence rate of myopia & presbyopia

The incidence of myopia varies by country and ethnic group according to epidemiologic evidence In some Asian countries, youth in urban areas of Singapore, China, Japan, South Korea, Taiwan and Hong Kong reached as high as 70-90%.

Myopia : The prevalence of pathological myopia in population-based research moderate to high in comparison with presbyopia & it is estimated at 1-3%. This is a tremendous economic cost to society, in addition to the human cost of visual disability. As the prevalence of simple myopia increases, the incidence of pathological myopia may also increase.

Presbyopia : Presbyopia prevalence is higher in societies where there is a survival of larger proportions of the population into old age. With the aging of the U.S. population, unprecedented numbers of presbyopia patients can be expected to present to the offices of optometrists in the coming years.

Restraint

High Cost associated with treatments

High cost of myopia & presbyopia treatment is one of the key factor expected to hamper market growth in upcoming years. The treatment via. Surgery, medicine or contact lenses varies in terms of price and patient condition. The annual direct average cost of myopia correction for Asian adults has been estimated at US $328 billion/annum. The cost of care is also likely to increase significantly, exacerbated by an even greater increase in the prevalence of high myopia. In terms of surgery, the average cost of LASIK surgery performed in the United States in 2019 was $2,246 per eye and includes consultations, aftercare and access to outstanding facilities. In addition for LASIK surgery unsuitable patient often are 40 and older, as patient have presbyopia, where the lens of the eye becomes stiff and hinders close-up vision. Contact lenses can cost varies from between $150 and $1,500 a year, depending on the brand, type, and patient insurance coverage plan. Rigid Gas Permeable contacts with lenses typically cost more than disposable contacts as they are approved to be reused every day for up to one year. RGP contacts average cost about $100 per lens, so $200 for a pair. Discount retailers may offer these lenses at as low as $30 per lens, and often offer incentives and lower prices for bulk purchases. Insurance could help offset those costs. Costs can differ from brand to brand, and for lenses of speciality. Contacts intended for treating astigmatism or corneal refractive therapy that cost more than those for myopia corrections.

TO UNDERSTAND HOW COVID-19 IMPACT IS COVERED IN THIS REPORT, Check Here: https://www.reportocean.com/industry-verticals/sample-request?report_id=BWC128

Global Myopia and Presbyopia Market: Treatment Type

The myopia treatment market is divided into corrective, surgical, and drugs segment. The corrective segment is further subdivided into prescription lenses and contact lenses. In Situ Keratomileusis (LASIK), Laser Epithelial Keratomileusis (LASEK), and Photorefractive Keratectomy (PRK) and others are included in the surgical section. Due to an growing prevalence of myopia in developing countries, the prescription lenses segment held the largest share in the myopia treatment market in 2019. Rising patient pool is projected to contribute to the growing demand for corrective lenses. LASIK surgery is largely adopted as one of the surgical procedures for the treatment of myopia, Increasing availability of advanced equipment and decreasing services costs are expected to boost the demand for surgeries during the forecast period.

By presbyopia treatment type, the market is divided into corrective, surgical, and drugs. Corrective segment is further divided into prescription and contact intraocular lenses. Contact lens consist bifocal, multifocal, monovision, and modified monovision. Conductive Keratoplasty, LASIK, LASEK, and PRK are effective refractive surgical procedures used for the presbyopia treatment in the global market. Prescription lenses expected to be the fastest growing segment over the forecast period owing to increasing preference for presbyopia correction. They are widely accepted due to aesthetic and visual advantages, such as image clarity while rejecting image jumping during eye movements. In addition, innovations, such as multifocals with anti-reflexive coating and photochromic lenses, are also expected to propel the segment growth.

Global Myopia and Presbyopia Market: Regional Insights

Based on region, the global Myopia and Presbyopia market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Myopia

North America is expected to hold the largest market share due to the availability of advanced technologies for the treatment of targeted disorders coupled with the presence of a large number of market players in the region. Over the forecast period.

Presbyopia

Followed by North America, Asia Pacific is projected to be the fastest growing area due to a rapid increase in geriatric population, high prevalence of eye diseases, and increasing medical tourism. North America projected to hold largest share in the market with the market size of USD 1.66 Billion in 2019 and expected to witness Market size of USD 2.65 Billion in 2026 at a CAGR of 7.00% during 2020-2026 forecast period.

Competitive Landscape

The leading companies of Myopia and Presbyopia Market are Alcon Vision LLC, Johnson & Johnson Vision, Bausch Health Companies Inc. (Bausch & Lomb), Cooper Companies, Inc. (CooperVision), Carl Zeiss Meditec AG, EssilorLuxottica SA , Nidek Co. Ltd. , Topcon Corporation , Ziemer Ophthalmic Systems AG , Haag-Streit UK Ltd (Metall Zug AG) , and other prominent players.

Recent Development

December 3, 2019 : Johnson & Johnson Vision Launches TECNIS Toric II 1-Piece IOL as a new monofocal alternative for astigmatised cataract patients; conducting multi-center, post-market clinical trials across the United States.

March 2019, Company acquired certain assets of Synergy Pharmaceuticals Inc., a biopharmaceutical company focused on gastrointestinal therapies. Synergy’s flagship product, TRULANCE®, is approved for adults with chronic idiopathic constipation and irritable bowel syndrome with constipation.

By Treatment
Surgical
Corrective
Prescription Lenses
Contact Lenses
Drug

By Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

The objective of the Study:

To analyze and forecast the global Myopia and Presbyopia Market size of the market in terms of value.

To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.

The Global Myopia and Presbyopia Market segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, Middle East & Africa and their leading countries.

To outline, categorized, and forecast the global Myopia and Presbyopia Market based on the leasing type, aircraft type, and security type.

To examine competitive developments like technological advancement, services, and regulative framework within the global Myopia and Presbyopia Market.

To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Key Opinion Participant
Key executive and strategy growth manager
End users
Government institutions/Hospitals/Clinics
Consultancy firms

Inquire Or Share Your Questions If Any Before The Purchasing This Report: https://www.reportocean.com/industry-verticals/sample-request?report_id=BWC128

Get in Touch with Us:
Report Ocean
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, IIIinois 60611 - UNITED STATES
Tel: +1 888 212 3539 (US - TOLL FREE)
Website: https://www.reportocean.com/
Blog: https://reportoceanblog.com/

About Us:
We are the best market research reports provider in the industry. Report Ocean believe in providing the quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports. We will help you in finding the upcoming trends that will entitle you as a leader in the industry. We are here to work with you on your objective which will create an immense opportunity for your organization.

This release was published on openPR.