Research Nester published a report titled “Asia Pacific Presbyopia Treatment Market - Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the Asia Pacific presbyopia treatment market in terms of market segmentation by age group and treatment type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Driven by increasing geriatric population and growing prevalence of presbyopia across the Asia Pacific region, the Asia Pacific presbyopia treatment market is estimated to witness significant growth in upcoming years. The Asia Pacific presbyopia treatment market accounted for a market value of USD 1760.0 million in 2019 and is anticipated to reach USD 3658.05 million by 2028, by growing at a CAGR of 8.51% during the forecast period i.e. 2020-2028. Presbyopia is one of the most common vision disorders that require professional ophthalmic diagnosis and treatment. These disorders have been found to be prevalent in people across all genders and ages. The market players are increasing their revenue streams by increasing the market penetration in emerging countries along with innovations and technologies introduced in presbyopia treatment market.
The market is segmented on the basis of age group into less than 40, 40-60-year-old, above 60. Out of these, 40-60-year-old segment accounted for the largest market share of 57.6% in the Asia Pacific presbyopia treatment market in 2019 owing to the presence of a large population size of the age group in the region, along with the fact that presbyopia affects individuals with age ranging from the early to mid-40s up to around 60 years of age. The market is also segmented by treatment type into corrective eyeglasses, contact lenses, refractive surgery, lens implants, and pharmacological treatment, out of which, the corrective glasses segment in the year 2019, is anticipated to hold the largest market share in the Asia Pacific presbyopia treatment market.
Growing Prevalence of Presbyopia Across the Asia Pacific Region And Increasing Geriatric Population to Drive the Market Growth
Presbyopia is one of the most common eye problems requiring specialist ophthalmic diagnosis and care. Owing to unhealthy lifestyles and other factors, such as environmental changes, the incidence rate of presbyopia is rising across the Asia Pacific region, and as a result the Asia Pacific presbyopia market is projected to witness remarkable growth during the forecast period. Increasing number of elderly people who are living with presbyopia is a major factor that is expected to drive the growth of this market across all the countries of Asia Pacific region. Moreover, the treatment for presbyopia includes a range of equipment for surgeries, such as LASIK, along with the use of lenses, which is further expected to drive the market growth. The usage of lenses is the most used method to manage the disorder although LASIK surgeries which is also gaining significant traction across the globe primarily on account of the awareness towards the benefits of such long-term solutions.
However, rising healthcare cost on account of using high quality imported equipment to meet the clinical demands of ophthalmology, lack of sufficient health care personnel to treat presbyopia and funding support for the treatment, are estimated to act as barriers to the growth of the Asia Pacific presbyopia treatment market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Asia Pacific presbyopia market which includes company profiling of NIDEK CO., LTD, Johnson & Johnson Vision Care, Inc., Alcon Vision LLC, Carl Zeiss AG, Bausch & Lomb Incorporated, Essilor International, Ziemer Ophthalmic Systems AG, Topcon Corporation (TYO: 7732), Novartis AG (SWX: NOVN) and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Asia Pacific presbyopia treatment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.