Myopia Treatment Market

Myopia Treatment Market Overview

Myopia or near-sightedness is when close-up objects look clear but distant objects are blurry. Near-sightedness is a common eye-focusing disorder. It is a common condition often noticed after 20 years of age of human being. Myopia is broadly divided into simple myopia and pathologic myopia. The overall market growth is expected to rise due to the increasing prevalence of uncorrected myopia or the growing occurrence of distant vision among individuals. haag-streit .com, Topcon Healthcare, and NIDEK CO., LTD. are some of the significant parties in the market for myopia treatment.

The global myopia treatment market was valued at USD 18.2 billion in 2023. The market is expected to expand at a CAGR of 9.2% from 2023-2032, and is expected to cross value of USD 43.9 billion by the end of 2032.

Myopia Treatment Market Growth Drivers

Some key drivers for the myopia treatment market are:

• Increasing Cases of Vision Loss: The number of cases related to vision loss around the world is increasing at a rapid pace. This, as a result, has raised the need for treating these diseases, thereby providing greater scope for the growth of myopia treatment market.
• Growing Awareness Among Individuals for the Treatment of Myopia: The rise in awareness for the availability of a treatment for myopia in several under-developed and developing nations worldwide acts as an opportunity for market expansion.
• Increasing Elderly Population Globally: The growing elderly population globally, who are prone to several types of diseases, often face numerous vision issues. This growing population, hence, generates numerous opportunities for market growth.
• Expanding Healthcare Expenditure: The expenditure on healthcare across nations worldwide is increasing at a rapid pace, supported by the rising focus of the government of nations on setting up higher budgets to keep their citizens healthy. Thus, this also acts as a major opportunity for the market players who offer myopia treatment to promote their offerings.

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Myopia Treatment Market Challenges

Some challenges facing the myopia treatment market are:

• High Cost of Treatment: The cost of treating myopia is very high and it may not be affordable for several individuals who have a lower income. Also, several insurance companies yet have not accepted treating myopia under their umbrella of insurance services, which is also projected to hinder market growth.
• Lack of Skilled Ophthalmologists: The unavailability of skilled ophthalmologists around the globe is one of the major factors expected to limit the market growth during the forecast period.
• Post-Surgical Complications: The fear among the patients who undergo myopia treatment for losing their eyesight and the numerous complications associated post-surgery, is also poised to lower the market growth.

Myopia Treatment Market Segmentation

Segmentation of myopia treatment market are:

• By Type
  • Simple Myopia
  • High Myopia
  • Pathological Myopia
• By Treatment
  •  Eyeglasses
  • Contact Lenses
  • Refractive Surgery
  • LASIK
  • PRK
  • Ortho-K
• By Route of Administration
  •  Oral
  • Parenteral
  • Others
• By End User:
  • Hospital/Clinical laboratories
  • Reference Laboratories
  • Others
• By Region:
  • North America (U.S., and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, Rest of Europe)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Middle East and Africa

Timeline considered for all these studies will be:

2023 – Base Year

2023 – Estimated Year

2023-2032 – Forecast Period

Myopia Treatment Market Regional Synopsis

The North America myopia treatment market is poised to hold the largest market share by the end of 2032, owing to the presence of several surgical equipment manufacturers in the region that are used for treating myopia. Moreover, the availability of highly skilled ophthalmologists in the region, especially in the United States, along with the presence of a strong network of professionals associated with the field, is also expected to boost the market growth in the coming years.

Further, the Asia Pacific myopia treatment market is projected to grow at a massive pace, backed by the higher prevalence of the disease among individuals, along with the growing number of awareness programs by the governments of nations to aware individuals of the availability of treatment measures for treating myopia.

Myopia Treatment Market Key Players

Some key players in the myopia treatment market are:

• haag-streit .com
• Topcon Healthcare
• NIDEK CO., LTD.
• EssilorLuxottica
• CooperVision
• Bausch Health Companies Inc.
• Alcon Inc.
• Carl Zeiss AG
• Ziemer Opthalmic Systems
• Johnsons & Johnson Vision Care, Inc.
• 2 Eyes Vision