Global Myopia and Presbyopia Treatment Market Set to Surge, Projected to Reach USD 40.5 Billion by 2032

The global myopia and presbyopia treatment market is on the verge of an extraordinary expansion, with forecasts indicating a substantial market valuation of USD 17.9 billion by the end of 2022. According to leading analysts, the market is expected to experience a robust Compound Annual Growth Rate (CAGR) of 8.5% from 2022 to 2032, driving its market share to an impressive USD 40.5 billion by 2032.

This anticipated growth is a testament to the increasing global demand for effective treatments and innovative solutions addressing myopia and presbyopia, two prevalent vision-related conditions affecting millions worldwide. The surge in market value reflects a combination of factors, including significant advancements in treatment technologies and a heightened awareness of vision care among the global population.

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Key market insights highlight a burgeoning landscape reshaping the healthcare industry and significantly impacting the quality of life for millions affected by myopia and presbyopia globally. “The anticipated market growth is indicative of the pressing need for advanced treatment options catering to myopia and presbyopia. As innovation continues to drive the industry forward, this surge presents a tremendous opportunity for stakeholders, including healthcare providers, researchers, and pharmaceutical companies,” stated a spokesperson from Future Market Insights.

In this transformative period, market players are expected to intensify their focus on research and development, introducing novel therapies and technological breakthroughs to meet the evolving needs of patients worldwide. This projected market growth aligns with ongoing efforts to improve and expand treatment accessibility, ensuring a brighter future for individuals affected by myopia and presbyopia globally.

Key Takeaways Myopia and Presbyopia Treatment Market:

The treatment market for myopia and presbyopia offers a range of options to correct or manage these conditions. Some of the key treatments and interventions available include:

• Eyeglasses: Traditional eyeglasses with corrective lenses are a common and cost-effective solution for both myopia and presbyopia. They help to focus light properly on the retina, improving vision.
• Contact lenses: Soft or rigid gas-permeable contact lenses can be prescribed for myopia and presbyopia. Contact lenses provide a wider field of vision compared to eyeglasses and can be suitable for individuals who prefer not to wear glasses.
• Refractive surgery: Laser-assisted surgeries such as LASIK (Laser-Assisted In Situ Keratomileusis) and PRK (Photorefractive Keratectomy) are popular options for correcting myopia. These procedures reshape the cornea to improve the eye’s focusing power.
• Intraocular lenses (IOLs): For presbyopia, multifocal or accommodating intraocular lenses can be implanted during cataract surgery. These lenses help restore near, intermediate, and distance vision.
• Orthokeratology (Ortho-K): This treatment involves wearing specially designed gas-permeable contact lenses overnight to temporarily reshape the cornea. Ortho-K lenses provide clear vision during the day without the need for glasses or contact lenses.
• Pharmaceutical interventions: Ongoing research is focused on developing pharmaceutical options for myopia control and presbyopia treatment. These may include eye drops or other medications to slow the progression of myopia or restore accommodation in presbyopia.

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Competitive Landscape:

Participants in the myopia and presbyopia treatment market are focusing on growth initiatives, including advancements in technology, the development of effective procedures, and strategic consolidations. Industry leaders are also investing in research and development to enable early diagnosis and create innovative, efficient treatment methods, aiming to differentiate themselves and strengthen their market position.

Key players in the myopia and presbyopia treatment sector, such as Johnson & Johnson, Essilor, and Zeimer Ophthalmic Systems AG, are expanding their partnerships to develop cutting-edge methodologies and therapeutic solutions. Their goal is to provide enhanced and more effective treatments for patients with myopia and presbyopia.

Recent Developments in the Global Myopia and Presbyopia Treatment Market

In July 2021, Essilor launched a dynamic web app version of its original Essilor Companion. This update enhances Essilor’s in-store digital marketing strategy and optimizes the digital platform for its partner companies, aiming to improve brand recognition.

Global Myopia and Presbyopia Treatment Market Key Players:

• Ziemer Ophthalmic Systems AG
• NIDEK CO., LTD.
• Johnson & Johnson Vision
• Essilor Ltd.
• Zeiss International
• ALCON VISION LLC
• Bausch & Lomb Incorporated
• Haag-Streit UK
• Topcon Corporation

Myopia and Presbyopia Treatment Market by Segmentation:

By Myopia Treatment Type:

• Corrective
  • Prescription Lenses
    • Single
    • Bifocal
    • Trifocal
    • Others
  • Contact Lenses
• Surgical
• Drugs

By Presbyopia Treatment Type:

• Prescription Lenses
  • Reading Glasses
  • Bifocals
  • Trifocals
  • Progressive Multifocal
  • Office Progressives
• Contact Lenses
  • Bifocal
  • Multifocal
  • Monovision
  • Modified Monovision
• Intraocular Lenses
• Refractive Surgery

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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