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Asia-Pacific Presbyopia Treatment Market Segmentation By Age Group (Less Than 40, 40-60-Year-Old, Above 60) and By Treatment Type (Corrective Eyeglasses, Contact Lenses, Refractive Surgery, Lens Implants, And Pharmacological Treatment) - Demand Analysis & Opportunity Outlook 2028

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Extensive insights into the Growth of Asia-Pacific Presbyopia Treatment Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • October 2020: NIDEK CO., LTD. launched two ophthalmic products namely ME-1500 Multifunction Edger and ICE-1500 Intelligent Blocker. ME-1500 Multifunction Edger has expanded features such as drilling, high base curve lens processing and design function which allows to process a wide array of frames. The ICE-1500 Intelligent Blocker is used for lens edging.

Market Overview And Growth Highlights 2019-2028

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. The Asia-Pacific presbyopia treatment market is anticipated to grow over the forecast period owing to the rising number of people suffering from presbyopia and the increasing geriatric population. There has been a rise in demand for efficient medical resources on the back of various innovations in the medical devices sector, especially with surgical devices and tools used. Additionally, favorably changing patient reimbursement policies by services covering the use of various products & solutions further improve these products' adoption rate across the region.

Key players of Asia-Pacific presbyopia treatment market are focusing towards advancements and innovation of presbyopia treatment. Advancements such as user-friendly design, software enhancements for better visualization and treatment procedures are being followed by number of manufacturers across the region. Rapidly increasing internet penetration across Asia-Pacific countries is easing the companies to reach out where they do not have presence of representatives. Through online distribution channel’s growth, the market is attributed to offer increased growth opportunities for existing as well as new market players. Large number of product innovations and launches by key players in this market, is expected to generate significant opportunities for the growth and business expansion accompanied with brand strengthening and promotion.

Market Segmentation Synopsis

By Age Group

The Asia-Pacific presbyopia treatment market is segmented by age group into less than 40, 40-60-year-old, above 60. Out of these, the 40-60-year-old segment accounted for the largest market share of 57.6% in the Asia-Pacific presbyopia treatment market in 2019. The population count for 40-60 years age group is comparatively the highest as compared to other age group individuals. As presbyopia usually occurs in the early to mid-40s and continues to worsen until around 60 years of age, the probability for the prevalence of the disease amongst this age group is also very high. Such a factor is anticipated to drive the growth of the segment in the APAC presbyopia treatment market. CLICK TO DOWNLOAD SAMPLE REPORT

Asia-Pacific Presbyopia Treatment.

By Treatment Type

The Asia-Pacific presbyopia treatment market is anticipated to grow exponentially over the forecast period on account of the rising number of people suffering from presbyopia and the increasing geriatric population. Presently, the treatment options available in the market for presbyopia treatment include corrective eyeglasses, contact lenses, refractive surgery, lens implants, and pharmacological treatment. Among them, corrective eyeglasses accounted for the largest market share in 2019. Corrective eyeglasses are considered as the most simple and safe way to treat presbyopia. The most prescribed corrective lenses include bifocal eyeglasses or progressive lens eyeglasses. A bifocal lens is usually split into two parts. The larger part is used to correct distant vision, whereas the smaller lens is used to correct near vision. The other alternative to corrective eyeglasses is contact lenses. There are currently various types of contact lenses available in the market, including bifocal lenses, monovision lenses, and modified monovision. People prefer contact lenses over eyeglasses as they move with the eye and provide a more natural field of view. Additionally, the contact lenses have no frame unlike the eyeglasses to block the vision.

Asia-Pacific-Presbyopia-Treatment-Market-Share

Market Drivers & Challenges

Growth Indicators

Growing Prevalence of Presbyopia across the Asia-Pacific Region

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. Since the occurrence rate of presbyopia is increasing across the Asia-Pacific region owing to unhealthy lifestyle and other causes such as environmental changes, the Asia-Pacific presbyopia treatment market is anticipated to record a significant growth over the forecast period. 

Increasing Geriatric Population to Drive the Market Growth

According to the statistics by the World Bank, population ages 65 and above in the East Asia & Pacific increased from 10.3% of total population in the year 2017 to 11.179% of total population in the year 2019.

Asia-Pacific Presbyopia Treatment Market Size

The occurrence rate of vision related disorders has been recorded very high among older population or people with age of more than or equal to 40. Increasing number of elderly people 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. Further, rising occurrence of diabetic retinopathy and other eye related disorders amongst geriatric population is fueling the requirement for ophthalmic diagnostic and testing, which in turn is anticipated to boost the growth of Asia-Pacific presbyopia treatment market in the upcoming years.

Barriers

Rising Healthcare Cost And Lack Of Sufficient Healthcare Personnel

Presbyopia treatment equipment manufacturing companies usually fail to meet the increasing demand for ophthalmology clinical treatment. To meet the rising demand for ophthalmology clinical treatment, there is an increase in the imports of the equipment required for the treatment, which is further adding up to the cost of presbyopia treatment. Moreover, lack of sufficiently trained healthcare personnel owing to the absence of standardized training procedures in the developing countries such as Indonesia, South Africa and others is projected to hamper the growth of Asia-Pacific presbyopia treatment market in the upcoming years.

Economic Conditions To Affect The Asia Pacific Presbyopia Treatment Market

It has been observed that patients tend to avoid surgeries or are not referring physicians for their regular eye exams owing to the fear of out-of-pocket expenditure. This factor is limiting the number of patients visiting the surgery center, especially in developing countries where the access to affordable healthcare is one of the major detrimental factor in any product adoption.

Impact Of COVID-19 on Asia-Pacific Presbyopia Treatment Market

The coronavirus pandemic is causing changes in the healthcare industry in each of the countries of the Asia-Pacific region. Yet those hailing from advanced health firms are more hopeful than others within the business that these progressions will eventually profit their drawn-out business. Furthermore, the huge influx of patients influenced by the pandemic has led to the shortage of presbyopia diagnosis and treatment. Also, with the growing infection rates, various countries have sealed their borders which has further led to the disruption of the supply chain of presbyopia treatment products. Hence, the import and export of contact lenses and surgical equipment have also stopped. This has created obstacles for the healthcare providers to provide effective diagnostic solutions and treatment to the rapidly increasing number of presbyopia patients.

Competitive Landscape

Some of the affluent leaders in the Asia-Pacific presbyopia treatment market are 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, Novartis AG and others.

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