Myopia & Presbyopia Treatment Industry Status and Trend Report by 2026

Posted by Nicky Arora on March 6th, 2020

The global myopia and presbyopia treatment market size is expected to reach USD 28 billion by 2026, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 7.7% during the forecast period. Growing research and development activities in the targeted disorders is expected to drive the growth.

Moreover, growing prevalence of myopia and high myopia is anticipated to fuel the market growth. Incidence of myopia in the developing countries of Asia Pacific, such as Japan, China, Singapore, and the Republic of Korea is growing steeply in the recent years. The condition is expected to affect 52.0% of the world’s population in the forthcoming years.

Growing prevalence of myopia and presbyopia is an opportunity for the market players to introduce efficient treatment solutions. Among the developed nations, U.S. is witnessing significant rise in incidence of myopia and presbyopia, especially in individuals over 42 years of age. Factors such as introduction of technologically advanced surgical options and high adoption rate in the developed countries are expected boost growth of the myopia and presbyopia treatment market in the upcoming years.

Advanced diagnostic and surgical treatment solutions include LASIK, LASEK, and PRK. Integration of these techniques with artificial intelligence and robot assisted surgical tools is expected to fuel the number of surgical procedures. Introduction of multifocal intraocular lenses, and implantable contact lenses is expected to have a positive impact on the market growth.

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Further key findings from the report suggest:

·         By myopia treatment type, single prescription corrective lenses expected to hold significant market share over the forecast period, owing to progression of the condition with age, thus driving the requirement for frequent replacement of corrective lenses

·         LASIK is the most preferred surgical treatment owing to its effectiveness. This factor is projected to fuel the growth of the segment in the forthcoming years

·         Progressive multifocals segment is expected to grow significantly over the forecast period owing to wide acceptance of this type of treatment for presbyopia due to aesthetic advantages

·         Multifocal contact lenses for the correction of presbyopia held the largest market share in 2018 largely due to easy availability and effective outcomes

Few of the key players operating in the myopia and presbyopia treatment market include Ziemer Ophthalmic Systems AG, NIDEK CO., LTD., Johnson & Johnson Vision, Zeiss International, Essilor Ltd., ALCON VISION LLC, Bausch & Lomb Incorporated, Haag-Streit UK, and Topcon Corporation