Research Nester released a report titled “Myopia and Presbyopia Treatment Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global myopia and presbyopia treatment market in terms of market segmentation by region.
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.
Myopia is an eye condition characterized by trouble seeing objects at a distance while presbyopia is the condition where people are unable to clearly see the objects kept close to their eyes. The treatment products for both these conditions consist of eyeglasses, contact lenses, intra ocular lenses & LASIK surgery devices that improve the impaired visibility caused by myopia & presbyopia. The market for myopia and presbyopia treatment is anticipated to grow at a CAGR of 7.45% during the forecast period, i.e., 2021-2028. Further, the market accounted for a value of USD 17,836.74 million in 2019 which is predicted to reach a value of USD 34,058.64 million by the end of 2028.
The market for myopia and presbyopia treatment is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America held the leading share in global market in 2019 and is anticipated to continue this trend and hold the largest share of 36.12% in the market in 2028. This can be attributed to the increase in investments by government and private entities to maintain the highest quality of care offered at healthcare facilities. The market in Asia Pacific is projected to grow at the highest rate during the forecast period with a CAGR of 8.87% between 2021 and 2028 on account of growing advancements and innovations in the industry in countries such as China, Japan and India.
Increasing Prevalence of Eye Disorders to Boost the Market Growth
Rising prevalence of disorders such as myopia and presbyopia is the major factor resulting in the demand for products that are used to treat the conditions. These common ophthalmic conditions occur among people of all ages, especially the elderly population. Treatment includes a range of equipment for surgeries such as LASIK and the use of lenses which is anticipated to boost the demand for the overall market over the forecast period. However, the rising healthcare costs restrict a large section of the population from using these corrective treatment methods and is predicted to restrict the market growth in coming years.
This report also provides the existing competitive scenario of some of the key players of the global myopia and presbyopia treatment market which includes company profiling of Topcon Corporation, Alcon, Bausch & Lomb Incorporated, Nidek Co., Ltd., Carl Zeiss AG and Johnson & Johnson Vision. 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 global myopia and 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.