Myopia and Presbyopia Treatment Market Worth $33.7 Billion by 2030

Myopia and Presbyopia Treatment Industry Overview

The global myopia and presbyopia treatment market size was valued at USD 16.47 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2030. Increasing cases of vision loss mainly due to myopia and rising incidence of distance vision impairment due to uncorrected myopia are some of the major factors expected to augment the overall market growth. In addition, the growing prevalence of presbyopia on a global scale is expected to foster the growth of the market over the forecast period. More than 2.1 billion individuals around the world suffered from presbyopia in 2020. Out of these individuals, one-third are aged more than 50 years. Nearly 128 million people in the U.S. are living with presbyopia. According to the WHO, in 2020, nearly 826 million were affected by unaddressed presbyopia. In addition, the number of presbyopia is the largest in East Asia, South Asia, and Southeast Asia, reporting more than twice that of other regions. Hence, the developing countries are expected to witness significant growth during the forecast period.

Canada myopia treatment market size, by type, 2020 - 2030 (USD Million)

The growing geriatric population that is prone to vision loss and aging adults (individuals above 40 years of age) across the globe are fueling the market growth. Most adults in their mid-40s start developing age and lifestyle-associated vision myopia treatment types. These myopia treatment types are expected to grow into myopia and presbyopia, thus augmenting the demand for myopia and presbyopia treatment. Undiagnosed presbyopia is one of the major challenges, which is expected to have a high impact on the vision care industry. The pathophysiology of presbyopia is still unclear to many people, thereby resulting in late diagnosis and increased treatment costs.

Gather more insights about the market drivers, restraints, and growth of the Global Myopia and Presbyopia Treatment Market

People already affected with myopia or presbyopia have started opting for telemedicine in the midst of COVID-19. With the widespread adoption of telemedicine, eye care professionals and regular consultants are continuing the monitoring of myopia progression, creating minimal impact on market growth. Many medical practices and hospitals are affected during the COVID-19 pandemic owing to several changes in protocols. The ophthalmology procedures are also affected in this novel disease outbreak as health checkups including ophthalmology were reduced due to COVID-19 restrictions. Due to the increased risk of spreading infection through contact lenses, many people opt for LASIK surgery for vision correction. Such reductions in elective ophthalmic surgeries are anticipated to create a negative impact on the overall market growth.

Additionally, the introduction of advanced lenses such as intraocular phakic presbyopic lenses and implantable contact lenses is expected to drive the market during the forecast period. These lenses are expected to gain enough popularity owing to their benefits. They have the capability of correcting a significant degree of nearsightedness, are less prone to dry eyes, can be surgically removed, and can be ideally used for non-LASIK patients.

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Myopia and Presbyopia Treatment Industry Segmentation

Grand View Research has segmented global myopia and presbyopia treatment market report based on type and region:

Myopia Treatment Type Outlook (Revenue, USD Million, 2017 - 2030)

Corrective
Surgical
Drugs

Presbyopia Treatment Type Outlook (Revenue, USD Million, 2017 - 2030)

Prescription Lenses
Contact Lenses
Intraocular Lenses
Refractive surgery

Myopia and Presbyopia TreatmentRegional Outlook (Revenue, USD Million, 2017 - 2030)

North America
Europe
Asia Pacific
Latin America
MEA (Middle East Africa)

Market Share Insights:

July 2021: Essilor launched a progressive web app version of the pre-existing Essilor Companion for all eye care professionals. This initiative aims to streamline the digital ecosystem for Essilors industry partners, including Eye Care Professionals (ECPs), and offers a superior in-store digital Essilor brand experience.

Key Companies profiled:

Some prominent players in the global Myopia and Presbyopia Treatment Industry include