Myopia Control Lenses Market

Myopia Control Lenses Market, By Lens Type (Multifocal Lenses, Orthokeratology Lenses, Dual-Focus Lenses, Peripheral Defocus Lenses), By Age Group (Children, Adults), By Distribution Channel (Optometry Clinics, Optical Retail Stores, Online Retail), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030

Nearsightedness is a major problem among children and young adults as it can lead to real eye problems later in life, including serious retinal diseases and vision loss. Studies have shown that myopia can progress to a more dangerous level by the time a child is a teen or young adult. Even amounts of nearsightedness -4.00 units or more increase the risk of myopia progressing into a more serious form by the time the child reaches these ages, so it is important to treat myopia early to prevent it from getting worse.

Various treatments are available to control myopia, among which the latest myopia control method involves a special contact lens that is designed to simultaneously correct myopia and prevent myopia progression. It works by using a dual-focus approach whereby the central area of the lens contains myopia correction and alternating rings surround this region, with each ring being configured to provide either myopia control or near addition.

Market Dynamics

The major driving factor that is responsible for boosting the myopia control lenses market growth is the ever-increasing incidence of myopia, mostly among the children and the growing adults. With its rise, there is increase in demand for solutions to control its spread which ultimately requires the adoption of myopia control lenses as a preventative measure to address the problem and lower the possible hazards which is motivated by the increased awareness of and concern for eye health. Also, the market for myopia control lenses has grown significantly as a result of the continuous progress in lens technology. Manufacturers are creating specialty lenses with cutting-edge materials and designs to effectively stop the growth of myopia. The growing number of clinical studies and scientific evidence proving the effectiveness of myopia control lenses has had a significant impact on market expansion. Strong proof for the efficiency of myopia control lenses has been presented by numerous studies, which has enhanced their acceptance and endorsement by eyecare specialists.

However, the limited cognizance about controlling myopia amongst the population and the high cost of myopia lenses being high (for ex: orthokeratology lenses), is expected to hinder the market growth over the fasted period.

Key features of the study:

• This report provides in-depth analysis of the global myopia control lenses market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global myopia control lenses market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Essilor International, Johnson & Johnson Vision, CooperVision, Hoya Corporation, Zeiss Group, Bausch + Lomb, Menicon Co., Ltd., SEED Co., Ltd., Alcon (Novartis), Visioneering Technologies, Inc., Paragon Vision Sciences, Euclid Systems Corporation, Art Optical Contact Lens, Inc., SynergEyes, Inc., Nevakar Inc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global myopia control lenses market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global myopia control lenses market.

Detailed Segmentation:

• Global Myopia Control Lenses Market, By Lens Type:
• Multifocal Lenses
• Orthokeratology Lenses
• Dual-Focus Lenses
• Peripheral Defocus Lenses
• Global Myopia Control Lenses Market, By Age Group:
• Children
• Adults
• Global Myopia Control Lenses Market, By Distribution Channel:
• Optometry Clinics
• Optical Retail Stores
• Online Retail
• Global Myopia Control Lenses Market, By Geography:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
• Company Profiles:
• Essilor International
• Johnson & Johnson Vision
• CooperVision
• Hoya Corporation
• Zeiss Group
• Bausch + Lomb
• Menicon Co., Ltd.
• SEED Co., Ltd.
• Alcon (Novartis)
• Visioneering Technologies, Inc.
• Paragon Vision Sciences
• Euclid Systems Corporation
• Art Optical Contact Lens, Inc.
• SynergEyes, Inc.
• Nevakar Inc.