Global Myopia and Presbyopia Treatment Market Outlook 2028

Global Myopia and Presbyopia Treatment Market Analysis - 2019-2028

Myopia is a condition of the eye which is characterized by unclear vision while 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. Myopia and presbyopia treatment market in Europe is primarily driven by the demand of these products by Germany, UK, France and Italy. The market is anticipated to reach a significantly high market size by 2028 as a result of rising availability of innovative treatment methods, particularly LASIK treatment which create this rise in demand for effective treatment products in the region. 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. The demand for myopia & presbyopia treatment products in Latin America is estimated to develop gradually over the forecast period and is presently capturing a limited market share in the global market with the market being led by the high demand in Brazil on account of changing consumer behaviour towards preventive health measures.

Some of the key industry leaders in the global myopia and presbyopia treatment market are Topcon Corporation, Alcon, Bausch & Lomb Incorporated, Nidek Co., Ltd., Carl Zeiss AG and Johnson & Johnson Vision.