Top Factor Driving Myopia Treatment Devices Market Growth in 2025: Rising Prevalence Of Eye Diseases Fuels Growth In Market

What combination of drivers is leading to accelerated growth in the myopia treatment devices market?
The rapid growth of the myopia treatment devices market is likely to be fueled by the rising occurrence of various eye diseases. These diseases, which can compromise eyesight by affecting the eye's structure or function, are becoming more frequent due to factors such as an aging population, increased screen use, lifestyle alterations, and higher exposure to environmental pollutants. Devices used for myopia treatment are crucial in managing these conditions as they slow the advancement of myopia, enhance visual clarity, and minimize the risk of associated complications. This preventative approach aids in preserving the ocular health and improving the quality of life for individuals afflicted. For example, the US-based government agency, Centers for Disease Control and Prevention, anticipates that in May 2024, 17.2% of Americans aged 40 and over, or roughly 20.5 million people, will have cataracts in at least one eye. This figure is projected to exceed 30 million by 2028. Thus, the escalating prevalence of eye diseases is a driving factor for the expansion of the myopia treatment devices market.

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What is the projected compound annual growth rate (CAGR) of the myopia treatment devices market from 2025 to 2034, and what factors influence it?
The market for myopia treatment devices has seen considerable growth in the past few years. It is projected to escalate from a value of $6.88 billion in 2024 to $7.53 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.5%. The progress observed in the historical period is attributed to factors such as government health programs, increased research and development, improved patient education, rising disposable incomes, and heightened attention to child eye care.

The market for myopia treatment devices is projected to experience robust growth in the coming years, reaching $10.70 billion by 2029, with a compound annual growth rate (CAGR) of 9.2%. This predicted expansion during the forecast period can be traced back to the rise in telemedicine services, advances in gene therapy, broader scope of myopia control programs, improvements in surgical procedures and the use of artificial intelligence in diagnostics. The forecast period will also see key developments in refractive surgery, solutions for digital eye strain, high-tech contact lenses, laser refractive surgery, and eye health biosensors.

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How are the latest trends influencing the growth of the myopia treatment devices market?
Leading businesses in the myopia treatment devices market are concentrating on innovation and advancement in technology, like overnight therapeutic lenses, to bolster their competitive standing and satisfy the growing demand for efficient and user-friendly treatment methods. The term 'overnight therapeutic lens' denotes a specific kind of contact lens worn during sleep for temporary improvement in vision. It is typically used for issues like myopia (short-sightedness), astigmatism, or presbyopia. For example, Johnson & Johnson Vision, a pharmaceutical company based in the US, rolled out ACUVUE Abiliti, a novel set of myopia control solutions, in January 2022. It is targeted at countering the increasing occurrence of myopia among kids. The ACUVUE Abiliti 1-Day Soft Therapeutic Lenses are intended to decelerate myopia progression in children between the ages of 7 and 12. These state-of-the-art daily use lenses signify a major progression in myopia management, registering an average decline in axial elongation of 0.105mm in six months. This decrease aids in mitigating the long-standing risks tied to an extreme level of myopia, which can result in significant vision problems down the line.

What are the major segments of the myopia treatment devices market and their role in driving growth?
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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Which regions are key players in the growth of 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.

Who are the key firms paving the way for growth 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

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

•Market Size Forecast: Examine the myopia treatment devices market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the myopia treatment devices market for a structured understanding.
•Key Players Overview: Analyze major players in the myopia treatment devices market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the myopia treatment devices market.
•Segment Contributions: Evaluate how different segments drive overall growth in the myopia treatment devices market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the myopia treatment devices market.
•Industry Challenges: Identify potential risks and obstacles affecting the myopia treatment devices market.
•Competitive Landscape: Review strategic developments in the myopia treatment devices market, including expansions, agreements, and new product launches.

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