SEATTLE, May 11, 2021, (MEDGADGET) — Global Myopia and Presbyopia Treatment market analysis
Impact of COVID-19 epidemic
The COVID-19 epidemic has hampered the growth of the myopia and presbyopia treatment industry, as small and medium ophthalmology practises have been closed due to the lockdown in key regions, leaving only large ophthalmology practises available to treat emergency cases. As a result, the number of patients visiting ophthalmology clinics has decreased, and demand for contact lenses, prescription lenses, and other eyewear has decreased as well.
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Overview
Nearsightedness (myopia) is the most common cause of vision impairment in people under the age of 40, whereas presbyopia is the natural loss of close focusing capacity that happens as people grow older. Squinting, eye pressure, and headaches are all signs of myopia and presbyopia. Contact lenses, eyeglasses, or refractive surgery may be used to fix or treat the conditions. Eye drops containing medicine are also becoming more common as a remedy for myopia and presbyopia. As presbyopia is an age-related visual disability, one of the largest factors driving market growth is the growing geriatric population.
The global myopia and presbyopia treatment market is projected to hit US$ 17.9 billion in 2020, with a CAGR of 8.1 percent over the forecast period (2020-2027).
Drivers
Development of newer products by major players and various research organizations is expected to propel growth of the global myopia and presbyopia treatment market over the forecast period.
The market is expected to expand due to the production and launch of revolutionary products such as lenses, eyeglasses, and various eyewears. Furthermore, the bulk of the players are interested in research and development in order to develop drugs for the treatment of myopia and presbyopia. For instance, on April 24, 2019, Sydnexis, Inc. began a phase 3 clinical trial study in children with myopia to assess the safety and efficacy of SYD-101 sterile topical ophthalmic solution (atropine sulphate). The research is projected to be done in July 2024. Eyenovia Inc. has launched a phase 3 clinical trial on June 3, 2019 to see how microdosed atropine 0.01%, atropine 0.1%, or placebo ophthalmic solution affects myopia development in participants. The research is expected to be finished in May 2024.
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As a result, the global myopia and presbyopia treatment market is projected to expand during the forecast period due to an increase in the number of lead candidates in late phase (phase 3), which may have the potential to obtain FDA approval for further use.
A major factor driving market growth is the introduction of new products by major players such as Ophtec BV, Alcon, BAUSCH + LOMB Incorporated, BVI, and others. AcrySof IQ Vivity, a first-of-its-kind intraocular lens (IOL) (presbyopia-correcting IOLs (PC-IOLs)) was introduced by Alcon in March 2020. OPHTEC BV introduced a new IOL concept in September 2018 for the correction of presbyopia with an optic that uses the proprietary Continuous Transitional Focus (CTF) technology.
Market Taxonomy
- According to Disease Type: Presbyopia, Myopia.
- According to Treatment Type: Contact Lenses, Prescription Lenses, Medication, Surgery, Others.
Regional Analysis
North America is expected to have the highest growth potential in the myopia and presbyopia treatment market over the forecast period, owing to the growing prevalence of myopia and presbyopia among the region’s population. According to the American Academy of Ophthalmology, 9.6 million adults in the U.S. were extremely myopic or seriously near-sighted in 2016. About 820,000 of these have a degenerative form of the disorder, and over 41,000 have a complication known as myopic choroidal.
Furthermore, the involvement of leading players in Europe, such as Visioneering Technologies, Inc., Carl Zeiss, and Alcon, is expected to propel the myopia and presbyopia treatment market forward, as these companies are constantly focused on product creation and launches. NaturalVue Brand Contact Lenses for myopia progression control and presbyopia were launched in the U.K. by Visioneering Technologies, Inc. in February 2019.
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Competitive Landscape
Major companies contributing in the global myopia and presbyopia treatment market are Bausch Health Companies Inc., Topcon Corporation, ALCON Inc., NIDEK CO. LTD., Johnson & Johnson Vision, ZEISS International, Zeimer Ophthalmic Systems AG, and EssilorLuxottica (Essilor Ltd.).
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Disease Type
- Market Snippet, By Treatment Type
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Technological Evolution
- PEST Analysis
- Microscope Comparison
- Porters Analysis
- COVID-19 Impact Analysis
- Market Dynamics
- Global Myopia And Presbyopia Treatment Market, Impact of COVID-19 Pandemic
- Pre-Covid Impact
- Post-Covid Impact
- Demand and Supply Impact Analysis
- Global Myopia And Presbyopia Treatment Market, By Disease Type, 2020–2027 (US$ Bn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017–2027
- Segment Trends
- Myopia
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Bn)
- Presbyopia
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Bn)
- Myopia
- Introduction
- Global Myopia And Presbyopia Treatment Market, By Treatment Type, 2020–2027 (US$ Bn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017–2027
- Segment Trends
- Prescription Lenses
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Bn)
- Contact Lenses
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Bn)
- Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Bn)
- Medication
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Bn)
- Prescription Lenses
- Introduction
- Global Myopia And Presbyopia Treatment Market, By Region, 2020–2027 (US$ Bn)
- Introduction
- Market Share Analysis, By Region, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, For Regions, 2017–2027
- North America
- Market Size and Forecast, By Disease Type, 2016–2027 (US$ Bn)
- Market Size and Forecast, By Treatment Type, 2016–2027 (US$ Bn)
- Market Size and Forecast, By Country, 2016–2027 (US$ Bn)
- U.S.
- Canada
- Europe
- Market Size and Forecast, By Disease Type, 2016–2027 (US$ Bn)
- Market Size and Forecast, By Treatment Type, 2016–2027 (US$ Bn)
- Market Size and Forecast, By Country, 2016–2027 (US$ Bn)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Disease Type, 2016–2027 (US$ Bn)
- Market Size and Forecast, By Treatment Type, 2016–2027 (US$ Bn)
- Market Size and Forecast, By Country, 2016–2027 (US$ Bn)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast, By Disease Type, 2016–2027 (US$ Bn)
- Market Size and Forecast, By Treatment Type, 2016–2027 (US$ Bn
- Market Size and Forecast, By Country, 2016–2027 (US$ Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Africa
- Market Size and Forecast, By Disease Type, 2016–2027 (US$ Bn)
- Market Size and Forecast, By Treatment Type, 2016–2027 (US$ Bn)
- Market Size and Forecast, By Country/Region, 2016–2027 (US$ Bn)
- Central Africa
- South Africa
- North Africa
- Middle East
- Market Size and Forecast, By Disease Type, 2016–2027 (US$ Bn)
- Market Size and Forecast, By Treatment Type, 2016–2027 (US$ Bn)
- Market Size and Forecast, By Country, 2016–2027 (US$ Bn)
- GCC
- Israel
- Rest of Middle East
- North America
- Competitive Landscape
- Company Profiles
- Section
- References
- Research Methodology
- About us and Sales Contact
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