The global myopia and presbyopia treatment market was estimated at USD 16.5 billion in 2021 and it is expected to surpass around USD 33.9 billion by 2030, poised to grow at a CAGR of 8.33% from 2022 to 2030.
The market is expected to expand at a CAGR of 8.5% from 2022 to 2030. Growing research and development in the targeted disorders is expected to drive the market considerably over the forecast period. Moreover, the growing prevalence of myopia and high myopia is anticipated to fuel the market growth during the forecast period. Incidences of myopia in the developing countries of Asia Pacific, such as Japan, China, Singapore, and the Republic of Korea, are growing steeply in recent years.
The growing prevalence of myopia and presbyopia is an opportunity for industry players to introduce efficient treatment solutions. Among the developed nations, the U.S. is witnessing a significant boost in the incidence of myopia and presbyopia, especially in individuals over 42 years of age. The introduction of technologically advanced surgical options and high adoption rates in developed countries are expected to boost the market growth in the upcoming years.
Advanced diagnostic and surgical treatment solutions include LASIK, LASEK, and PRK. The integration of these techniques with artificial intelligence and robot-assisted surgical tools is expected to fuel the number of surgical procedures. The introduction of multifocal intraocular lenses and implantable contact lenses is expected to have a positive impact on the market growth.
Scope of The Report
|Market Size in 2021||USD 16.5 billion|
|Revenue Forecast by 2030||USD 33.9billion|
|Growth rate from 2022 to 2030||CAGR of 8.33%|
|Forecast Period||2022 to 2030|
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 Treatment Type Insights
The single prescription lenses segment held the largest revenue share of over 30.0% in 2021. This is due to the increasing prevalence of myopia in developing countries. The growing patient pool is contributing to the growing demand for corrective lenses. Features of the surgery such as minimally invasiveness, accuracy, and speed are also affecting the popularity of the surgery, thereby driving the adoption of myopia and presbyopia treatment.
Technologically advanced solutions are helping to significantly decrease average turnaround time for ophthalmic surgeries. The increasing availability of advanced equipment and decreasing services costs are expected to boost the demand for surgeries during the forecast period.
Presbyopia Treatment Type Insights
Prescription lenses captured the largest revenue share of more than 25.0% in 2021. Contact lenses are also categorized as bifocal, multifocal, monovision, and modified monovision. Conductive keratoplasty, LASIK, LASEK, and PRK are effective refractive surgical procedures used for the treatment of presbyopia. LASIK is a widely accepted surgical procedure for the treatment of presbyopia. The surgery involves the reshaping of the cornea to improve far vision. Hence, the high prevalence of these myopia treatment types and growing demand for LASIK surgery are expected to foster the market growth during the forecast period.
The progressive multifocals segment is expected to be the fastest-growing segment over the forecast period owing to the increasing preference for correcting presbyopia. They are widely accepted due to aesthetic and visual advantages, such as image clarity while rejecting image jumping during eye movements. In addition, innovations in multifocals, such as multifocals incorporated with anti-reflexive coating and photochromic lenses, are expected to propel the growth of the segment during the forecast period.
North America dominated the market with over 20.0% share in 2021 and is expected to maintain its lead over the forecast period owing to the availability of advanced technologies for treating the targeted myopia treatment types and the presence of a large number of market players. Asia Pacific is expected to be the fastest-growing region over the forecast period owing to the geriatric population growth, the high prevalence of eye-related myopia treatment types, and growing medical tourism.
In addition, the rising disposable income of consumers is expected to drive the market for myopia and presbyopia treatment in the APAC region. Europe is expected to witness growth in the coming years owing to the growing geriatric population and increasing awareness regarding the treatment of targeted myopia treatment type.
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