Global Myopia Treatment Devices Market Report and Forecast 2023-2031

Global Myopia Treatment Devices Market Report and Forecast 2023-2031

Global Myopia treatment Devices Market Outlook

The global myopia treatment devices market is expected to witness substantial growth during the forecast period of 2023-2031, driven by the increasing prevalence of myopia worldwide and the growing adoption of advanced treatment devices. The market is projected to grow at a CAGR of 9.1% during the forecast period, likely to reach a value of USD 14.5 billion by 2031.

Myopia treatment Devices Market: Introduction

The market is a rapidly growing market that provides treatment for myopia, also known as near-sightedness. Myopia is a common refractive error that affects individuals of all age groups and is characterized by difficulty seeing objects that are far away. It is caused by a combination of genetic and environmental factors, and its prevalence has been increasing rapidly in recent years, particularly in urban areas.

The market for myopia treatment devices includes a range of products such as corrective glasses, contact lenses, intraocular lenses, and refractive surgery devices. The increasing prevalence of myopia and the growing adoption of advanced treatment devices are the key drivers of the market. Expert Market Research has released a comprehensive report on the global myopia treatment devices market, which provides an in-depth analysis of the market and its segments. The report covers the market for myopia treatment devices and provides a detailed analysis of the market size, growth, and trends.

Myopia Epidemiology

Myopia, also known as nearsightedness, is a common refractive error that affects the ability to see distant objects clearly. It is a growing public health concern worldwide, particularly in urban areas. Here are some key epidemiological facts about myopia:

Myopia is one of the most common ocular disorders worldwide and affects approximately 1.45 billion people globally. It is estimated that this number will increase to 2.7 billion people by 2030. Myopia is more common in urban areas compared to rural areas, and its prevalence has been increasing rapidly in recent years. In some East and Southeast Asian countries, myopia rates have reached epidemic proportions, with up to 80-90% of high school graduates being myopic.

Myopia can occur at any age, but it usually develops in childhood and adolescence. The prevalence of myopia increases with age, and it is estimated that nearly 50% of the global population will be myopic by 2050.Genetics plays a significant role in the development of myopia. Children with one myopic parent have a threefold increased risk of developing myopia, while those with two myopic parents have a sixfold increased risk.

Myopia Treatment Devices Market Segmentations

The market can be categorized into treatment, product type, end user, and region.

Market Breakup by Treatment

• Corrective Lenses
• Prescription Lenses
• Single
• Bifocal
• Trifocal
• Others
• Laser Eye Surgery
• Lens Implant Surgery

Market Breakup by Product Type

• Eyeglasses
• Contact Lenses
• Ortho-K Lenses
• Phakic Intraocular Lenses
• Excimer Laser Refractive Surgery Devices

Market Breakup by End User

• Hospitals
• Speciality Clinics
• Others

Myopia treatment Devices Market Breakup by Region

• North America
• United States of America
• Canada
• Europe
• United Kingdom
• Germany
• France
• Italy
• Others
• Asia Pacific
• China
• Japan
• India
• ASEAN
• Australia
• Others
• Latin America
• Brazil
• Argentina
• Mexico
• Others
• Middle East and Africa
• Saudi Arabia
• United Arab Emirates
• Nigeria
• South Africa
• Others

Myopia treatment Devices Market Scenario

The market is driven by the increasing prevalence of myopia worldwide and the growing adoption of advanced treatment devices. North America dominates the myopia treatment devices market, followed by Europe and the Asia Pacific region. The high prevalence of myopia and the availability of advanced healthcare infrastructure are driving the growth of the market in North America. Europe is also a significant market for myopia treatment devices, with the presence of key players and increasing investment in research and development activities. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period, owing to the increasing awareness about the disease and the rising healthcare expenditure in the region.

In addition, the COVID-19 pandemic has also affected the myopia treatment devices market, with disruptions in supply chain and manufacturing activities. However, the market is expected to recover in the post-pandemic period, driven by the increasing demand for effective treatments for myopia.

Overall, the global myopia treatment devices market is expected to continue its growth trajectory during the forecast period, offering numerous opportunities for key players and investors in the industry.

Key Players in the Global Myopia treatment Devices Market

The report gives an in-depth analysis of the key players involved in the myopia treatment devices market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:

• CooperVision, Inc. (Cooper Companies, Inc.)
• Johnson & Johnson Services, Inc.
• Essilor International
• Bausch & Lomb Inc.
• Lucid Korea Co., Ltd.
• Euclid Systems Corp.
• Nidek Co., Ltd.
• Falco Linsen AG
• Schwind Eye Tech Solutions GmbH
• SynergEyes Inc. (Abb Optical Group)
• SightGlass Vision., Inc.