Myopia and Presbyopia Treatment Market Share, Trends And Forecast 2024 to 2033

The myopia and presbyopia treatment market size has grown strongly in recent years. It will grow from $19.3 billion in 2023 to $20.9 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increasing prevalence of myopia and presbyopia, awareness and education initiatives, shift in lifestyles and screen time, consumer preference for non-surgical treatments, economic growth and healthcare spending, clinical research and development, accessibility to eyecare services.

The myopia and presbyopia treatment market size is expected to see strong growth in the next few years. It will grow to $28.59 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to emergence of gene therapies for eye disorders, focus on vision correction for lifestyle enhancement, growing adoption of orthokeratology, cultural factors impacting eyecare practices, shift towards preventive eyecare. Major trends in the forecast period include telemedicine for vision care, pharmaceutical interventions, customized contact lenses, myopia control devices, advanced intraocular lenses (iols), refractive surgery for presbyopia, lens implant technologies.

Market Overview -
Myopia and presbyopia treatment refers to the treatment or procedure to correct and sharpen the vision caused by myopia and presbyopia in adults and children. The key objective of myopia and presbyopia treatment is to diagnose underlying disorders, lower the risk of injury, prevent ocular symptoms, and detect the disease early.

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Rising Geriatric Population Fuels Growth Of Myopia And Presbyopia Treatment Market
The rising geriatric population is expected to propel the growth of the myopia and presbyopia treatment market going forward. The geriatric population refers to older who are 65 years and beyond. The geriatric population suffers from various diseases due to low immunity and age. Aging increases the risk of myopia, presbyopia, and eye-related diseases in the geriatric population. Myopia and presbyopia treatment examines the visual and microscopic component's view of the eyes. These results are used to identify and manage a variety of eye-related illnesses in geriatric population. For instance, in October 2022, according to a report published by the World Health Organization (WHO), a Switzerland-based agency responsible for international public health, one in six people is expected to be 60 or older by the year 2030, in the entire world. By 2050, there will be 2.1 billion people worldwide who are 60 years old or older. The number of persons who are 80 years of age or older will increase by 426 million between 2020 and 2050 compared to the current population. Thus, the rising geriatric population is driving myopia and presbyopia treatment market.

Competitive Landscape -
Major companies operating in the myopia and presbyopia treatment market report 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

Technological Advancements Transforming The Landscape Of Myopia And Presbyopia Treatment
Technologically advanced solutions are a key trend gaining popularity in the myopia and presbyopia treatment market. Major companies operating in the market are focused on developing technologically advanced solutions to sustain their position in the myopia and presbyopia treatment market. For instance, in January 2021, Alcon, a US-based Ophthalmology company, launched AcrySof IQ Vivity IOL (Vivity), the first and only non-diffractive extended depth of focus intraocular lens (IOL) developed with Vivity X-WAVE technology. The unique features of the AcrySof IQ Vivity IOL provide monofocal-quality distance vision at a distance of at least a few arms, along with excellent intermediate vision and useful near vision. The lens can be used by cataract sufferers who want to enhance their quality of life and restore their visual function.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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