The global myopia and presbyopia treatment market size is expected to reach USD 30.66 billion by 2030 according to a new study by Polaris Market Research. The report “Myopia and Presbyopia Treatment Market Share, Size, Trends, Industry Analysis Report, By Myopia Treatment Type (Corrective, Surgical, Drugs), By Presbyopia Treatment Type (Prescription Lenses, Contact Lenses, Intraocular Lenses, Refractive Surgery); By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising incidences of vision impairment, coupled with the increasing number of geriatric populations, are the chief factors likely to propel the industry demand across the globe. The increasing prevalence of vision impairment problems, along with the increasing risks from pathologic conditions that are associated with retinal damage, glaucoma, and cataract, is anticipated to drive the growth of the global industry.
Based on the myopia cure type, the corrective segment dominates the global industry and is anticipated to lead the industry over the forecasting period. Factors such as the increasing prevalence of myopia across developing nations contribute to segment growth. The large patient pool is attributed to the growing demand for corrective lenses among the population.
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The growing geriatric population globally is anticipated to drive industry growth. The geriatric population is more prone to vision loss as most adults develop lifestyle-associated vision disorders. For instance, according to the United Nations, 727 million persons aged between 65 years or more globally in 2021. Also, the number of older populations is likely to double to 1.5 billion by 2050.
Thus, this rising incidence is a chief impelling factor for the industry demand. Moreover, the increasing number of ongoing research and the growing product pipeline globally is anticipated to boost the industry's growth.
Market participants such as ALCON Inc., AbbVie, Alcon Vision LLC, Bausch & Lomb Incorporated, The Cooper Companies Inc., Carl Zeiss AG, Essilor Ltd., Bausch Health Companies Inc., Hagg Striet UK, Johnson & Johnson Vision, Orasis Pharmaceuticals, Nidek Corporation, Regeneron Pharmaceuticals Inc., Sydnexis, Topcon Corporation, and Zimmer Ophthalmic Systems AG are some of the key players operating in the global market.
Various market vendors are introducing their innovations across the global market to reinforce their geographical footprints. For instance, In October 2021, Allergan received the approval of the FDA (Food & Drug Administration) for Vuity (pilocarpine hydrochloric acid ophthalmic solution) 1.25%, used for the cure of presbyopia.
Polaris Market Research has segmented myopia and presbyopia treatment market report on the basis of myopia treatment type, presbyopia treatment type, and region:
Myopia and Presbyopia Treatment, Myopia Treatment Type Outlook (Revenue - USD Million, 2018 - 2030)
Myopia and Presbyopia Treatment, Presbyopia Treatment Type Outlook (Revenue - USD Million, 2018 - 2030)
Myopia and Presbyopia Treatment, Regional Outlook (Revenue - USD Million, 2018 - 2030)