Global Presbyopia Treatment Market - 2023-2030

Global Presbyopia Treatment Market - 2023-2030

Global Presbyopia Treatment Market reached US$ XX billion in 2022 and is expected to reach US$ XX billion by 2030 growing with a CAGR of XX% during the forecast period 2023-2030.

The global presbyopia treatment market experiencing significant growth in recent years mainly owing to the increasing prevalence and rising aging population. Presbyopia is a very common vision loss as it is considered a natural part of aging.

Moreover, there is no permanent prevention for presbyopia but the management of presbyopia includes eyeglasses, contact lenses, surgeries, eye drops, and sufficient nutrient intake, by using these products the patients can see better. Refractive surgeries such as conductive keratoplasty, Laser-Assisted In Situ Keratomileusis (LASIK), Laser-Assisted Subepithelial Keratectomy (LASEK), Photorefractive Keratectomy (PRK) are most commonly used for the correction of presbyopia.

Owing to the increasing prevalence of presbyopia, increasing demand for innovative therapeutics, rising aging population, rising awareness and education, and technological advancements in treatment options are the major factors expected to drive the global presbyopia treatment market over the forecast period.

Dynamics

Increasing Demand for Innovative Therapeutics Drives the Growth of the Presbyopia Treatment Market

With the increasing prevalence of presbyopia, there is a continuously increasing demand for innovative therapeutics like advancements in eyeglasses, contact lenses, innovative eye drops, and so on. Many research activities and clinical trials are going on for innovative treatments and the FDA approvals also enhance the trust in patients for the usage of the approved products, which shows better results.

For instance, on February 22, 2023, The Food and Drug Administration (FDA) accepted for review the New Drug Application for CSF-1 (pilocarpine hydrochloride), a novel corrective eye drop candidate, for the treatment of presbyopia in adults.

There is a continuous demand for products that offer a minimally invasive or non-invasive nature, the products such as eye drops, and eyewear offer a minimally invasive nature. Many pharmaceutical companies focus on the development of eye drops to utilize the eye’s natural ability to improve vision. The innovative products also improve the patient’s quality of life by enabling them to perform daily activities.

For instance, on October 04, 2022, Entod Pharmaceuticals, a Mumbai-based pharmaceutical company announced that it is in the final stages of developing an eye drop that could change the lives of millions with presbyopia, an age-related blurred near vision. The company also claims that PresVu Eye Drops have the potential to utilize the eye’s natural ability to reduce its pupil size.

The Rising Aging Population Also Drives the Growth of the Presbyopia Treatment Market

Presbyopia is an age-related natural vision loss, so as the aging population increases there is also a continuous increasing demand for the presbyopia treatment. As people become older, the eye's ability to focus on near objects reduces, leading to difficulties with finding objects, reading books, and using digital devices like phones and laptops. With the increasing aging population, the number of individuals affecting by presbyopia rises continuously, further driving the demand for better presbyopia treatment.

For instance, on April 12, 2023, The Jobson Optical Group announced the launch of Review of Presbyopia and The Aging Eye, a digital content platform focusing on providing eyecare professionals with cutting-edge educational articles and multimedia on new technologies and care protocols for the age 45+ generation.

There is a continuously growing aging population, which prompted the demand for increased research and development activities and clinical trials to fulfill their specific needs. This further led to the development of innovative therapeutics like eyeglasses according to the patient preferences for enhanced comfort and effective treatment and diagnosis options to address presbyopia in older individuals.

Limited Treatment Options Will Hamper the Growth of the Market

The availability of a limited treatment options leads to unmet medical needs for the presbyopia treatment. These limited treatment results in patient unsatisfaction, comprehensive range of treatment options without suitable choices that linked with their preferences and lifestyle. The patients wants to choose the treatment according to their preferences and comfortability, these limited unmet treatment options results in patient dissafisfaction.

Presbyopia has different types and it affects individuals differently based on their eye anatomy, nutrient intake, lifestyle, and visuality. A limited range of treatment options will not allow for sufficient customization according to the patient, this in turn leads to suboptimal treatment outcomes.

Segment Analysis

The global presbyopia treatment market is segmented based on type, treatment, end-user, and region.

The Contact Lenses from the Treatment Segment Accounted for Approximately 45.5% of the Presbyopia Treatment Market Share

The contact lenses are expected to dominate the market share for the better management of presbyopia. Usually, contact lenses offers a non-invasive approach by correcting the presbyopia. Many patients who are suffering from presbyopia prefers this option over surgical interventions due to the absence of appropriate surgical procedures and their associated recovery times. Contact lenses also provides immediate vision and convenience according to the patient usage.

For instance, on September 12, 2022, Johnson & Johnson Vision Care, Inc., a global leader in eye health announced the launch of its newest innovation, ACUVUE OASYS MAX 1-DAY contact lenses and ACUVUE OASYS MAX 1-Day MULTIFOCAL contact lenses for presbyopia. They are designed with an unprecedented combination of new technologies to help meet the needs of digitally intense lifestyles such as TearStable Technology and OptiBlue light filter. TearStable Technology is designed to maximize tear-film stability and lock in moisture for exceptional all-day comfort and the OptiBlue light filter is designed for vision clarity.

Moreover, the contact lenses also provides the flexibility to switch between near and distant vision without needing to constantly switch between different pairs of glasses. This convenience and the flexibility offers benefits to the patients according to the changing lifestyles and they are virtually invisible, offering natural appearance to the users.

Geographical Penetration

North America Accounted for Approximately 39.2% of the Market Share in 2022, Owing to the Strong Presence of Major Players and Advanced Healthcare Infrastructure

North America is well known for key market players such as pharmaceutical companies, medical device companies, and many advanced research institutes. The presence of major players leads to innovative product launches, technological advancements, and performing research activities and clinical trials. These encompass the companies to contribute significant launches and advancements for better treatment, resulting in market dominance.

For instance, Bausch and Lomb Corporation, a leading global eye health company dedicated to helping people see better to live better, announced the U.S. launch of Bausch + Lomb INFUSE Multifocal silicone hydrogel (SiHy) daily disposable contact lenses. Featuring a next-generation material infused with ProBalance Technology for all-day comfort and the company’s unique 3-Zone Progressive design, the new lens addresses the dynamic vision needs of patients with presbyopia by delivering clear vision with seamless transitions across near, intermediate, and distance vision while helping to minimize contact lens dryness.

Moreover, North America, particularly the United States and Canada is known for its advanced and well-established healthcare infrastructure including hospitals, ophthalmic clinics, ophthalmic stores, and mobile eye clinics for better and enhanced management of presbyopia. The region is also known for its high healthcare expenditure, and favorable reimbursement policies, resulting in the region’s largest market share.

Competitive Landscape
The major global players in the presbyopia treatment market include Alcon Vision LLC, Novartis AG, Eyenovia, Johnson and Johnson Pvt Ltd, Ocuphire Pharma Inc, Allergan, Visus Therapeutics, Ziemer Ophthalmic Systems, Sun Pharmaceutical Industries Ltd, and F. Hoffmann-La Roche Ltd. among others.

COVID-19 Impact Analysis

The COVID-19 pandemic significantly impacted the global presbyopia treatment market. During the pandemic, due to the spreading of the virus, the clinical trials for new presbyopia treatments have been temporarily disrupted and by focussing on COVID-19 related therapeutics, the research activities for presbyopia also faced delays due to safety concerns, restrictions on in-person visits, and shifts in resources towards pandemic-related research.

Russia-Ukraine Conflict Analysis

The Russia-Ukraine conflict is estimated to have a moderate impact on the global presbyopia treatment market. The conflict disrupts supply chains of the presbyopia products such as eyeglasses, contact lenses, and others, it could potentially affect the availability of raw materials, components, or finished products globally. And due to less presence of major players, there is less impact on the global market.

By Type
• Incipient Presbyopia
• Functional Presbyopia
• Absolute Presbyopia
• Premature Presbyopia
• Nocturnal Presbyopia

By Treatment
• Eyeglasses
Reading Glasses
Bifocals
Trifocals
Progressives
Office Progressives
Others
• Contact Lenses
Bifocal Contact Lenses
Multifocal Contact Lenses
Monovision Contact Lenses
Modified Monovision Contact Lenses
• Surgeries
LASIK Surgery
PRK Surgery
SMILE Surgery
• Eye Drops
• Others

By End-User
• Hospitals
• Ophthalmic Clinics
• Ambulatory Surgical Centers
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• On April 12, 2023, Visus Therapeutics Inc., a clinical stage biopharmaceutical company focused on developing multi-targeted ophthalmic therapeutics for the front and back of the eye, announced Jehan Tamboowalla joined the company as senior vice president of business development and marketing. At Visus, Mr. Tamboowalla will be responsible for identifying and executing strategic partnerships and collaborations as well as leading commercial activities for assets in clinical development. Jehan’s successful record of partnering assets, acquiring novel technologies, and launching ophthalmic medicines provides Visus with the expertise required to deliver on our goal of addressing critical unmet needs in the presbyopia eye drop category and beyond.
• On February 15, 2023, Eyenovia, Inc., a pre-commercial ophthalmic technology company developing the Optejet delivery system for use both in connection with its own drug-device therapeutic programs for mydriasis, presbyopia and pediatric progressive myopia as well as out-licensing for additional indications, announced that the company has entered into a development collaboration agreement with Taiwan-based Formosa Pharmaceuticals, Inc. The agreement seeks to combine Eyenovia’s Optejet dispensing technology with Formosa’s unique APNT nanoparticle formulation platform for the potential development of new topical ophthalmic therapeutics that employ the Optejet dispenser.
• On January 17, 2023, Bausch + Lomb Corporation, a leading global eye health company dedicated to helping people see better to live better, and AcuFocus, Inc., a privately held ophthalmic medical device company, announced that an affiliate of Bausch + Lomb has acquired AcuFocus, pursuant to a merger transaction with the parent company of AcuFocus. This acquisition mainly focuses on cataract and presbyopia management.

Why Purchase the Report?
• To visualize the global presbyopia treatment market segmentation based on type, treatment, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of presbyopia treatment market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global presbyopia treatment market report would provide approximately 53 tables, 54 figures, and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies