Global Myopia Treatment Market has gained the momentum with a CAGR of 6.90% over the forecast period 2020-2026, and expected to reach USD 14.80 Billion by 2026. Increasing cases of vision loss largely due to myopia, along with rising incidences of distance vision impairment due to uncorrected myopia are some of the major factors expected to drive the market growth.
Global Presbyopia Treatment Market has gained the momentum in recent years with a CAGR of 7.35% over the forecast period 2020-2026. Growing prevalence of presbyopia cases globally is creating immense opportunities for industry players to develop effective treatment solutions. Among the developed nations, the U.S. is experiencing a significant increase in the incidence of presbyopia, especially in people above age of 40.
Prescription lenses segment is expected to drive the market growth
Due to growing prevalence of myopia in developing countries, the prescription lenses segment held the largest share in the myopia treatment market in 2019. 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, increasing availability of advanced equipment and decreasing services costs are expected to boost the demand for surgeries during the forecast period.
Prescription lenses 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 multifocal with anti-reflexive coating and photochromic lenses, are also expected to propel the segment growth.
North America expected to witness significant growth in the myopia treatment market during the forecast period
North America is expected to hold the largest market share due to the availability of advanced technologies for the treatment of targeted disorders coupled with the presence of a large number of market players in the region over the forecast period.
Asia Pacific expected to witness significant growth in the Presbyopia market during the forecast period
Asia Pacific is projected to be the fastest growing area due to a rapid increase in geriatric population, high prevalence of eye diseases, and increasing medical tourism. North America projected to hold largest share in the market with the market size of USD 1.66 Billion in 2019 and expected to witness Market size of USD 2.65 Billion in 2026 at a CAGR of 7.00% during the forecast period 2020-2026.
Myopia and Presbyopia Treatment Market: Competitive Landscape
The leading companies operating in the Myopia and Presbyopia treatment market are Alcon Vision LLC, Johnson & Johnson Vision, Bausch Health Companies Inc. (Bausch & Lomb), Cooper Companies, Inc. (CooperVision), Carl Zeiss Meditec AG, EssilorLuxottica SA , Nidek Co. Ltd. , Topcon Corporation , Ziemer Ophthalmic Systems AG , Haag-Streit UK Ltd (Metall Zug AG) , and other prominent players.