Rising Prevalence Of Eye Diseases Fuels Growth In Market: A Key Factor Shaping the Future of the Myopia Treatment Devices Market in 2025

What Are the Projections for the Size and Growth Rate of the Myopia Treatment Devices Market?
Over the last few years, the myopia treatment devices market has observed significant growth. The market is projected to expand from $6.88 billion in 2024 to $7.53 billion in 2025, boasting a compound annual growth rate (CAGR) of 9.5%. Factors fueling the growth during this historic period include government health programmes, advanced research and developmental activities, improved patient awareness, increased disposable income, and a heightened emphasis on pediatric eye health.

Expectations are for the market size of myopia treatment devices to experience significant growth in the forthcoming years. It is predicted to increase to $10.70 billion by 2029, with a compound annual growth rate (CAGR) of 9.2%. This predicted growth within the forecast period can be linked to the expansion of telemedicine services, advances in gene therapy, growth in myopia control programs, progress in surgical methods, and the inclusion of artificial intelligence (AI) in diagnostics. Other important trends during the forecast period are improvements in refractive surgery, solutions for digital eye strain, advanced contact lenses, laser refractive surgery, and the use of biosensors for monitoring eye health.

What Are the Main Catalysts for Growth in the Myopia Treatment Devices Market?
The escalating incidence of eye conditions is predicted to boost the progression of the myopia treatment devices market in the future. These diseases involve a variety of conditions that can disrupt the structure or functionality of the eye, thereby affecting eyesight. This rise in eye disorders can be attributed to factors like aging populations, increased screen time, changes in lifestyle, and higher exposure to pollutants in the environment. Devices for myopia treatment play a critical role in controlling eye diseases by curbing the advancement of myopia, bettering visual lucidity, and minimizing the probability of related complications. This ultimately provides a proactive way to maintain ocular health and promote better life quality for those impacted by these conditions. For instance, the Centers for Disease Control and Prevention, a government agency in the US, forecasts in May 2024, that around 20.5 million or 17.2% of Americans aged 40 and above will develop cataracts in at least one eye in 2024, with this figure expected to escalate to over 30 million by 2028. As such, the growing incidence of eye illnesses underlines the augmenting growth of the myopia treatment devices market.

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Which Businesses Are at the Forefront of Myopia Treatment Devices Market Development?
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 Are the Major Trends Shaping the Myopia Treatment Devices Market?
Leading businesses in the myopia treatment devices market are focusing on creating innovative and technologically advanced products like overnight therapeutic lenses to bolster their competitive standing and cater to the growing demand for efficient and convenient treatment methods. Overnight therapeutic lenses are a unique form of contact lenses used during rest to facilitate temporary vision correction, commonly in cases of myopia, astigmatism, and presbyopia. For example, in January 2022, a pharmaceutical firm based in the U.S., Johnson & Johnson Vision, introduced ACUVUE Abiliti, a novel range of solutions to manage myopia, in response to the escalating incidence of myopia among children. The ACUVUE Abiliti 1-Day Soft Therapeutic Lenses have been engineered to slow down the progression of myopia in children between the ages of 7 to 12. Representing a remarkable stride in myopia management, these innovative daily lenses have shown an average reduction in axial elongation of 0.105 mm over a period of six months. Such reductions can diminish the long-term implications linked with high myopia, which may cause serious vision issues in the future.

How Is the Myopia Treatment Devices Market Segmented?
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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Where Is the Myopia Treatment Devices Market Growth Most Prominent?
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.

What Is Covered In The Myopia Treatment Devices Global Market Report?

- Market Size Analysis: Analyze the myopia treatment devices Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the myopia treatment devices Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall myopia treatment devices market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the myopia treatment devices market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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