The global myopia and presbyopia treatment industry is poised for an extraordinary surge, estimated to reach a substantial valuation of US$ 17.9 Billion by 2022. Projections from leading analysts suggest an accelerating Compound Annual Growth Rate (CAGR) of 8.5% from 2022 to 2032, propelling the market share to an impressive US$ 40.5 Billion by the end of 2032.
With such momentous growth on the horizon, the myopia and presbyopia treatment market is primed to witness remarkable expansion over the next decade. This anticipated surge in valuation reflects the increasing demand for effective treatments and solutions addressing these prevalent vision-related conditions globally.
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Key market insights reveal a burgeoning market landscape, driven by technological advancements and a growing awareness of vision care. The surge in these treatment segments is not only reshaping the healthcare industry but also significantly impacting the quality of life for millions affected by myopia and presbyopia.
“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 focus extensively on research and development, introducing novel therapies and technological breakthroughs to meet the evolving needs of patients globally.
This projected market growth aligns with the ongoing efforts to improve and expand treatment accessibility, ensuring a brighter future for individuals affected by myopia and presbyopia worldwide.
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.
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- 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.
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
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Myopia and Presbyopia Treatment Market by Segmentation
By Myopia Treatment Type:
- Corrective
- Prescription Lenses
- Single
- Bifocal
- Trifocal
- Others
- Contact Lenses
- Prescription 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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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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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