global Myopia & Presbyopia Treatment market size is expected to be worth around US$ 30 billion by 2028, according to a new report by Vision Research Reports.
The global Myopia & Presbyopia Treatment market size was valued at US$ 15.10 billion in 2020 and is anticipated to grow at a CAGR of 7.10% during forecast period 2021 to 2028.
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.
By myopia treatment type, the market is divided into corrective, surgical, and drugs. Corrective segment is further divided into prescription and contact lenses. Single, bifocal, and trifocal among others are the major types of corrective prescription treatments. include implantable contact lenses. Surgical segment includes Laser-Assisted In Situ Keratomileusis (LASIK), Laser Epithelial Keratomileusis (LASEK), and Photorefractive Keratectomy (PRK). Single prescription lenses segment held largest share in the myopia and presbyopia treatment market in 2020, owing to increasing prevalence of myopia in developing countries. Rising patient pool is projected to contribute to the growing demand for corrective lenses.
LASIK surgery is largely adopted as one of the surgical procedures for the treatment of myopia and is expected to witness significant growth during forecast period owing to its permanent nature and minimally invasive procedure. Increasing use of advanced intraoperative imaging and technology along with advancements in surgical instruments with artificial intelligence and robot assisted surgeries are the factors anticipated to fuel the segment growth.
Features of the surgery, such as minimally invasiveness, accuracy, and speed are also drive its popularity, thereby, driving its adoption. Technologically advanced solutions help reduce the average turnaround time for ophthalmic surgeries significantly. Increasing availability of advanced equipment and decreasing services costs are expected to boost the demand for surgeries during the forecast period.
On the basis of presbyopia treatment, the market is categorized as prescription lens, contact lens, intraocular lens, and refractive surgery. Prescription lenses segment is further categorized into reading glasses, bifocals, trifocals, progressive multifocals, and office progressives. Contact lens is further categorized into bifocal, multifocal, monovision, and modified monovision. Conductive Keratoplasty, LASIK, LASEK, and PRK are effective refractive surgical procedures used for the presbyopia treatment.
Progressive multifocals is expected to be the fastest growing segment over the forecast period owing to increasing preference for presbyopia correction. They are widely accepted due to aesthetic and visual advantages, such as image clarity while rejecting image jumping during eye movements. In addition, innovations, such as multifocals with anti-reflexive coating and photochromic lenses, are also expected to propel the segment growth.
North America is expected to hold the maximum market share owing to availability of advanced technologies for the treatment of the targeted disorders coupled with the presence of a large number of market players in the region.
Asia Pacific is expected to be the fastest growing region over the forecast period owing to rapid rise in geriatric population, high prevalence of eye diseases, and growing medical tourism. In addition, rising disposable income of consumers is also expected to drive the regional market expansion in near future.
Ziemer Ophthalmic Systems AG
NIDEK CO., LTD.
Johnson & Johnson Vision
ALCON VISION LLC
Bausch & Lomb Incorporated
Myopia Treatment Type Outlook
Presbyopia Treatment Type Outlook
Middle East & Africa
The Myopia & Presbyopia Treatment market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Myopia & Presbyopia Treatment market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Myopia & Presbyopia Treatment market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Myopia & Presbyopia Treatment market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Myopia & Presbyopia Treatment market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Myopia & Presbyopia Treatment capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Myopia & Presbyopia Treatment by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Myopia & Presbyopia Treatment market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Myopia & Presbyopia Treatment market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Myopia & Presbyopia Treatment market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Myopia & Presbyopia Treatment industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Myopia & Presbyopia Treatment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Myopia & Presbyopia Treatment market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Myopia & Presbyopia Treatment market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Myopia & Presbyopia Treatment market. These factors have benefited the growth of the global market for Myopia & Presbyopia Treatment. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Myopia & Presbyopia Treatment. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Myopia & Presbyopia Treatment are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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