The market for myopia and presbyopia treatment is anticipated to grow at a CAGR of 7.45% during the forecast period, i.e., 2021-2028.
Research Nester released a report titled “Myopia and Presbyopia Treatment Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of global myopia and presbyopia treatment market in terms of market segmentation by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The market for myopia and presbyopia treatment is anticipated to grow at a CAGR of 7.45% during the forecast period, i.e., 2021-2028. Further, the market accounted for a value of USD 17,836.74 million in 2019 which is predicted to reach a value of USD 34,058.64 million by the end of 2028. Myopia and presbyopia are conditions of the eye which result in a difficulty in viewing objects clearly. Both these conditions are caused when the light entering the eye does not properly focus on the retina, leading to near sightedness in case of myopia. Presbyopia generally occurs among old people and is caused as a result of weakened muscles in the eye.
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The market for myopia and presbyopia treatment is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America held the leading share in global market in 2019 and is anticipated to continue this trend and hold the largest share of 36.12% in the market in 2028. This can be attributed to the increase in investments by government and private entities to maintain the highest quality of care offered at healthcare facilities. The market in Europe is anticipated to attain a significant market size of USD 9,716.29 million by 2028. This can be attributed to the rising availability of innovative treatment methods, particularly LASIK treatment. On account of this, there has been a rise in demand for effective treatment products in the region.
Growing Elderly Population to Drive the Market Growth by 2028
The growing population above the age of 65 is the leading factor responsible for the market growth during the forecast period. Rising prevalence of disorders such as myopia and presbyopia among older population is a major factor resulting in the demand for products that are used to treat the conditions. These common ophthalmic conditions occur among people of all ages, especially the elderly population. However, the rising healthcare costs restrict a large section of the population from using these corrective treatment methods and is predicted to restrict the market growth in coming years.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
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This report also provides the existing competitive scenario of some of the key players of the global myopia and presbyopia treatment market which includes company profiling of Topcon Corporation, Alcon, Bausch & Lomb Incorporated, Nidek Co., Ltd., Carl Zeiss AG and Johnson & Johnson Vision. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global myopia and presbyopia treatment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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