Market Overview:

Myopia and presbyopia are common vision disorders that affect people of all ages globally. Products for the treatment of these conditions include corrective eyeglasses, contact lenses, and refractive surgeries. These products help improve the vision of people suffering from near- or far-sightedness.

Market Dynamics:

Rising prevalence of myopia and presbyopiadue to increasing screen time habitsspecially among children and young adults as well as rapid urbanizationare key factors driving the growth of the myopia and presbyopia market. According to a recent study, the prevalence of myopia has increased from around 30% to 80% in some east and south-east Asian countries in the past 30 years due to more indoor activities. In addition,increasing demand for minimally invasive and non-invasive refractive surgeries such as laser eye surgeriesis also fueling market growth.
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Market key trends:
The myopia and presbyopia market has been witnessing rising adoption of innovative lenses such as progressive lenses, multifocal lenses, and adaptive lenses. These new lens technologies offer improved visual clarity for patients suffering from myopia as well as presbyopia. For instance, progressive lenses gradually change the power of the lens from the top to bottom, allowing clear vision at all distances without the need for frequent switching of eyewear. Adaptive lenses can automatically adjust focusing based on the distance of objects, thereby providing comfortable vision to patients.

SWOT Analysis
Strength: The market leaders like ALCON and Bausch Health have strong brand recognition and expertise in developing specialty contact lenses and implantable collamer lenses for myopia control.
Weakness: High costs associated with newer lens technologies and refractive surgeries can limit their adoption in price sensitive markets.
Opportunity: Rising health awareness and growing disposable incomes in developing nations are expanding the customer base.
Threats: Threat of substitutes such as refractive surgeries and alternative myopia control treatments.

Key Takeaways:

The Global Myopia And Presbyopia Market  is expected to witness high growth, exhibiting CAGR of 8.3% over the forecast period 2023-2030, due to increasing prevalence of myopia and presbyopia worldwide.
The Asia Pacific region dominates the market currently due to large patient population and rapid economic development in countries like China and India. China, Japan and other East Asian countries have seen rising cases of myopia among both children as well as adults.
North America also captures significant market share supported by advanced healthcare infrastructure and availability of advanced treatment options.

 Regional analysis:
The Asia Pacific region is expected to dominate the myopia and presbyopia market during the forecast period. The region accounts for over 60% of the total market currently due to rapidly growing patient population living with vision disorders. East Asia nations like China and Japan have witnessed significant rise in myopia cases in the past few decades due to changing lifestyles and increased use of digital devices. For instance, over 80% of teenagers in China and Japan are estimated to be suffering from myopia currently.

Key players analysis:
Key players operating in the myopia and presbyopia market are ALCON Inc., Bausch Health Companies Inc., EssilorLuxottica (Essilor Ltd.), Johnson & Johnson Vision, NIDEK CO. LTD., Topcon Corporation, Zeimer Ophthalmic Systems AG, and ZEISS International. These industry leaders have strong expertise in developing advanced lenses as well as equipment for refractive surgical procedures.

Note:

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it