Myopia Control Lenses Market to See Surge in Adoption Driven by Enhanced Consumer Awareness and Availability

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Myopia Control Lenses Market- (By Lens Type (Multifocal Lenses, Orthokeratology Lenses, Dual-Focus Lenses, Peripheral Defocus Lenses), By Age Group (Children, Adults), By Distribution Channel (Optometry Clinics, Optical Retail Stores, Online Retail)), Trends, Industry Competition Analysis, Revenue and Forecast To 2034."

According to the latest research by InsightAce Analytic, the Global Myopia Control Lenses Market is valued at USD 1.54 Bn in 2024, and it is expected to reach USD 6.86 Bn by the year 2034 , with a CAGR of 16.2% during a forecast period of 2025-2034.

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Myopia control lenses refer to specialized corrective lenses designed to address the clinical needs of individuals, particularly children, with myopia. Daily disposable lenses offer a convenient and secure option for myopia management, even for young children. These lenses facilitate myopic defocus, a technique that alters how light is focused within the eye, improving the efficacy of myopia correction and management. As the risk of severe eye conditions, such as retinal detachment, glaucoma, and myopic maculopathy, becomes more widely recognized, there is growing awareness among parents, healthcare professionals, and individuals regarding the long-term implications of myopia.

Preventative myopia control glasses are gaining traction as a proactive solution to correct and manage myopia. The myopia control lens market presents opportunities for innovation and differentiation, driven by continuous advancements in lens technology. However, the widespread adoption of these lenses is hindered by challenges such as high costs and limited availability. The development of relevant regulations is expected to drive demand for myopia control lenses, fostering greater competition and contributing to market expansion.

List of Prominent Players in the Myopia Control Lenses Market:
• Essilor International
• Johnson & Johnson Vision
• CooperVision
• Hoya Corporation
• Carl Zeiss Group
• Bausch + Lomb
• Menicon Co., Ltd.
• SEED Co., Ltd.
• Alcon (Novartis)
• Visioneering Technologies Inc.
• Paragon Vision Sciences
• Euclid Systems Corporation
• Art Optical Contact Lens Inc.
• SynergEyes Inc.
• Nevakar Inc.
• Fielmann AG,
• Rodenstock
• Others

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Market Dynamics:
Drivers:
The increasing demand for myopia control lenses is primarily driven by factors such as rising disposable incomes, the growing prevalence of myopia, and continuous advancements in lens technology. The global rise in myopia, particularly among children and young adults, is a key driver of the demand for these lenses. As myopia becomes an increasingly prevalent condition, particularly with the surge in rapidly worsening nearsightedness, myopia control lenses are becoming essential for effective management. Additionally, the growth of the market is expected to be positively influenced by ongoing technological advancements and research and development efforts that are further enhancing the efficacy and availability of myopia control lenses.

Challenges:
One of the primary challenges facing the market is a lack of awareness, limited accessibility, and adherence to treatment in emerging markets, particularly due to the impact of lockdowns and isolation. Despite growing public awareness of myopia, there remains a significant gap in knowledge regarding its management and the various treatment options available, including myopia control lenses. This knowledge gap may hinder the demand for myopia control lenses and impede the effective implementation of treatment strategies. Moreover, the potential side effects associated with these lenses could further challenge market growth in the coming years.

Regional Trends:
North America is anticipated to experience a high compound annual growth rate (CAGR) due to advanced healthcare infrastructure and widespread awareness of myopia and its treatment options. The increasing prevalence of myopia control lenses in this region is further fueled by growing recognition of the risks associated with untreated myopia and the importance of early intervention. In Europe, the market holds a significant share, supported by a well-developed economy, high myopia rates, and advancements in lens technology. The collaborative efforts in myopia research and a proactive approach to managing the condition contribute to Europe's market growth. Furthermore, the presence of key players and growing partnerships within the region offer substantial opportunities for expanding the global myopia control lenses market.

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Recent Developments:
• In Aug 2022, The CooperVision MiSight® 1 day Myopia Control Contact Lens has been recognized as the recipient of the prestigious 2022 German Innovation Awards. MiSight® 1 Day, a dual-focus contact lens intended for daily disposable use, has been made accessible in over 30 countries to mitigate the progression of myopia in children. The product obtained CE certification, as well as authorization from the U.S. FDA and the National Medical Products Administration (NMPA) of China.
• In Oct 2020, Bausch Health and BHVI Announced an Exclusive Global Licensing Agreement for Myopia Control Contact Lens. Bausch + Lomb was focused on finding global solutions to treat myopia.

Segmentation of Myopia Control Lenses Market-
By Lens Type-
• Multifocal Lenses
• Orthokeratology Lenses
• Dual-Focus Lenses
• Peripheral Defocus Lenses
By Age Group-
• Children
• Adults
By Distribution Channel-
• Optometry Clinics
• Optical Retail Stores
• Online Retail
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.