Market Size of Global Myopia and Presbyopia Treatment Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 26.13 Billion |
| Market Size (2029) | USD 33.53 Billion |
| CAGR (2024 - 2029) | 5.11 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Myopia and Presbyopia Treatment Market Analysis
The Global Myopia and Presbyopia Treatment Market size is estimated at USD 26.13 billion in 2024, and is expected to reach USD 33.53 billion by 2029, growing at a CAGR of 5.11% during the forecast period (2024-2029).
The market for myopia and presbyopia is currently growing at a healthy rate, which is majorly associated with the rising number of people with vision impairment and the rapid growth in the geriatric population worldwide.
The COVID-19 pandemic is an unprecedented health concern adversely affecting communities, industries, businesses, and lives worldwide. Great damage has been observed in people's eyesight due to increased screen time. For instance, according to a survey report published in July 2021 by the UK-based Feel Good Contacts, in 2020, due to the lockdown, Indians suffered maximum damage to eyesight due to increased screen time. About 27.5 crore Indians, about 23% of the population, reported their eyesight weakening because of excessive screen time. Moreover, the study Progression of Myopia in School-Aged Children After COVID-19 Home Confinement noted a substantial myopic shift (0.3 diopters) after home confinement amongst children aged 6-8 years.
The prevalence of myopia increased from 1.4 to 3 in 2020 compared to the previous five years globally. The prevalence of vision impairment issues such as myopia is increasing globally at an alarming rate, with significant increases in vision impairment risks from pathologic conditions associated with high myopia, including retinal damage, cataract, and glaucoma. These diseases are causing an elevation in the incidence of visual impairment. The demand for treatment options, like contact, concave, or prescription lenses, has increased tremendously worldwide.
Various countries' governments are focusing on improving patient flow, for which they are also considering increasing the number of eye clinics. The increasing number of eye clinics is augmenting the rise in the procedural volume of eye surgeries, favoring the market studied.
Myopia and Presbyopia Treatment Industry Segmentation
As per the scope of the report, myopia is the condition in which incoming light does not directly focus on the retina but in front of it. Presbyopia becomes more frequent. Presbyopia is the condition in which incoming light focuses behind the retina, leading to difficulty focusing on close-up objects. The Myopia and Presbyopia Treatment Market is Segmented by Disease Type (Myopia and Presbyopia), Treatment Type (Prescription Lenses, Contact Lenses, Surgery, and Medication), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Disease Type | |
| Myopia | |
| Presbyopia |
| By Treatment Type | |
| Prescription Lenses | |
| Contact Lenses | |
| Surgery | |
| Medication |
| Geography | ||||||||
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Global Myopia and Presbyopia Treatment Market Size Summary
The global myopia and presbyopia treatment market is experiencing robust growth, driven by the increasing prevalence of vision impairment and a rapidly aging population worldwide. The market is expanding due to the rising number of individuals affected by myopia and presbyopia, conditions exacerbated by factors such as increased screen time during the COVID-19 pandemic and reduced outdoor activities. This surge in vision impairment has led to a heightened demand for various treatment options, including corrective lenses and refractive surgeries. Governments are responding by enhancing patient flow and expanding the number of eye clinics, which in turn is boosting the volume of eye surgeries and supporting market expansion. The economic impact of uncorrected myopia, with significant productivity losses, further underscores the importance of effective treatment solutions.
Regionally, North America holds the largest market share, benefiting from advanced healthcare infrastructure and a wide range of treatment options. Meanwhile, the Asia-Pacific region is witnessing the fastest growth, fueled by increasing awareness and adoption of treatment options. The competitive landscape is marked by the presence of major players such as ALCON Inc., Bausch Health Companies Inc., and Johnson & Johnson Vision, who are actively launching new products and initiatives to raise awareness. Recent approvals, such as Allergan's Vuity for presbyopia and Johnson & Johnson's ACUVUE Abiliti lenses for myopia progression, highlight the ongoing innovation and strategic efforts within the market. These developments are expected to drive continued growth and address the rising global demand for effective myopia and presbyopia treatments.
Global Myopia and Presbyopia Treatment Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Cases of Vision Impairment
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1.2.2 Rising Geriatric Population
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1.3 Market Restraints
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1.3.1 Lack of Early Diagnosis
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1.3.2 High Cost of Treatment
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Disease Type
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2.1.1 Myopia
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2.1.2 Presbyopia
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2.2 By Treatment Type
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2.2.1 Prescription Lenses
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2.2.2 Contact Lenses
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2.2.3 Surgery
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2.2.4 Medication
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle-East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle-East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Myopia and Presbyopia Treatment Market Size FAQs
How big is the Global Myopia and Presbyopia Treatment Market?
The Global Myopia and Presbyopia Treatment Market size is expected to reach USD 26.13 billion in 2024 and grow at a CAGR of 5.11% to reach USD 33.53 billion by 2029.
What is the current Global Myopia and Presbyopia Treatment Market size?
In 2024, the Global Myopia and Presbyopia Treatment Market size is expected to reach USD 26.13 billion.
