The Global Myopia Treatment Market is estimated to grow at a CAGR of 6.90% during the forecast period 2020-2026. As per the market study, the global myopia treatment industry is estimated to reach $14.80 billion by the end of the year 2026.
The Global Presbyopia Treatment Market is estimated to grow at a CAGR of 7.35% during the forecast period 2020-2026.
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Market Overview of the Global Myopia and Presbyopia Treatment Market
Myopia treatment market is driven by various growth factors such as increasing incidences of distance vision impairment due to uncorrected myopia coupled with increasing cases of vision loss and technological advancements in the form or variety of treatment available in the market such as LASIK surgeries. These surgeries are majorly adopted to treat myopia owing to its nature of minimally invasive and high success rate. Also, availability of advanced intraoperative imaging coupled with development of surgical instruments with robot assisted surgeries and artificial intelligence supports the market growth during the forecast period.
Presbyopia treatment market is driven by various growth factors such as increasing prevalence of presbyopia worldwide and technologically advanced approaches to reduce the turnaround time required for ophthalmic surgeries. Moreover, increasing demand for LASIK surgery further supports the market growth over the forecast period.
Segmentation Overview of the Global Myopia and Presbyopia Treatment Market
The myopia treatment market is segmented into corrective, surgical, and drugs type.
The Corrective Segment of the Global Myopia Treatment Market is Sub-Segmented into:
- Contact Lenses
- Prescription Lenses
The Surgical Segment of the Global Myopia Treatment Market is Sub-Segmented into:
- In Situ Keratomileusis (LASIK)
- Photorefractive Keratectomy (PRK)
- Laser Epithelial Keratomileusis (LASEK)
- Others
The presbyopia treatment market is segmented into corrective, surgical, and drugs type.
The Corrective Segment of the Global Presbyopia Treatment Market is Sub-Segmented into:
- Contact Intraocular Lenses
- Prescription
The Surgical Segment of the Global Presbyopia Treatment Market is Sub-Segmented into:
- PRK
- LASEK
- LASIK
- Conductive Keratoplasty
Regional Overview of the Global Myopia and Presbyopia Treatment Market
The North America myopia market dominated the global marketplace in the year 2019 due to presence of a large number of market players in the region and availability of advanced technologies to diagnose and treat myopia.
The North America presbyopia treatment market dominated the market share in the global marketplace in the year 2019. Furthermore, the Asia-Pacific presbyopia treatment market is anticipated to grow at significant growth rate owing to high prevalence of eye diseases, growth in medical tourism sector and increase in geriatric population in the APAC region.
Key Players Insights of the Global Myopia and Presbyopia Treatment Market
Haag-Streit UK Ltd (Metall Zug AG), Ziemer Ophthalmic Systems AG, Topcon Corporation, Nidek Co. Ltd., EssilorLuxottica SA, Carl Zeiss Meditec AG, Cooper Companies, Inc. (CooperVision), Bausch Health Companies Inc. (Bausch & Lomb), Johnson & Johnson Vision and Alcon Vision LLC are some major key players included in the research study of the global myopia and presbyopia treatment market. The market players are adopting various competitive strategies to withhold the majority of the market share in the global marketplace.
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