NEW YORK, Sept. 14, 2022 /PRNewswire/ -- The myopia and presbyopia treatment market size is expected to grow by USD 7.22 billion between 2021 and 2026, accelerating at a CAGR of 7.94% during the forecast period. The report identifies AbbVie Inc., Alcon Inc., Bausch Health Co. Inc., BVI Medical Inc., and Carl Zeiss AG as some of the key vendors. With the presence of several global and regional vendors, global myopia and presbyopia market is fragmented. The competition in the market is expected to intensify over the forecast period with the launch of new products by vendors.
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The report segments the market by type (myopia treatment and presbyopia treatment) and geography (Asia, North America, Europe, and the Rest of the World (ROW)).
By type, the market will observe significant growth in the myopia treatment segment over the forecast period. The segment is mainly driven by the rising prevalence of myopia and the availability of advanced products to treat the condition.
By region, Asia will emerge as the major market, occupying 38% of the global market share. The increasing incidence of myopia in countries such as Japan, Singapore, China, and South Korea is driving the growth of the regional market.
The market is driven by the increasing prevalence of myopia and presbyopia. In 2020, 1.1 billion people across the world had distance vision impairment or uncorrected presbyopia. The prevalence of this condition is high in regions such as East Asia, South Asia, and Southeast Asia. In addition, according to the WHO, half of the world population may be myopic by 2050. Thus, with the growing prevalence of myopia and presbyopia, the demand for treatment options such as contact lenses, concave lenses, and corrective lenses is set to increase over the forecast period. This, in turn, will drive the growth of the market in focus.
Global myopia and presbyopia treatment market is fragmented. The vendors in the market compete in terms of pricing, R&D, quality, geographical coverage, product offerings, and the development of technologically advanced products. The competition in the market will become more intense with the increase in the number of myopia and presbyopia incidences requiring surgical treatments. Besides, key vendors in the market are continuously launching new products to increase their market share in global myopia and presbyopia treatment market. All these factors are expected to intensify the competition in the market during the forecast period.
Technavio considers the following as the dominant players in the market.
Bausch Health Co. Inc.
BVI Medical Inc.
Carl Zeiss AG
Essilor International SAS
Haag Streit Group
Johnson and Johnson
NIDEK Co. Ltd
Orasis Pharmaceuticals Inc.
Regeneron Pharmaceuticals Inc.
Sanjeevan School For Perfect Eyesight
The Cooper Companies Inc.
Ziemer Ophthalmic Systems AG
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Myopia and Presbyopia Treatment Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 7.94%
Market growth 2022-2026
USD 7.22 billion
YoY growth (%)
Asia, North America, Europe, and Rest of World (ROW)
Performing market contribution
Asia at 38%
Key consumer countries
US, UK, China, Japan, and the Republic of Korea
Leading companies, competitive strategies, consumer engagement scope
AbbVie Inc., Alcon Inc., Bausch Health Co. Inc., BVI Medical Inc., Carl Zeiss AG, Essilor International SAS, Haag Streit Group, Johnson and Johnson, NIDEK Co. Ltd, Ophtec BV, Orasis Pharmaceuticals Inc., Regeneron Pharmaceuticals Inc., Sanjeevan School For Perfect Eyesight, Sydnexis Inc., The Cooper Companies Inc., Topcon Corp., and Ziemer Ophthalmic Systems AG
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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Table of Contents:
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
4 Five Forces Analysis
4.1 Five forces summary
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
5 Market Segmentation by Type
5.1 Market segments
5.2 Comparison by Type
5.3 Myopia treatment - Market size and forecast 2021-2026
5.4 Presbyopia treatment - Market size and forecast 2021-2026
5.5 Market opportunity by Type
6 Customer Landscape
6.1 Customer landscape overview
7 Geographic Landscape
7.1 Geographic segmentation
7.2 Geographic comparison
7.3 Asia - Market size and forecast 2021-2026
7.4 North America - Market size and forecast 2021-2026
7.5 Europe - Market size and forecast 2021-2026
7.6 Rest of World (ROW) - Market size and forecast 2021-2026
7.7 China - Market size and forecast 2021-2026
7.8 US - Market size and forecast 2021-2026
7.9 Japan - Market size and forecast 2021-2026
7.10 Republic of Korea - Market size and forecast 2021-2026
7.11 UK - Market size and forecast 2021-2026
7.12 Market opportunity by geography
8 Drivers, Challenges, and Trends
8.1 Market drivers
8.2 Market challenges
8.3 Impact of drivers and challenges
8.4 Market trends
9 Vendor Landscape
9.2 Vendor landscape
9.3 Landscape disruption
9.4 Industry risks
10 Vendor Analysis
10.1 Vendors covered
10.2 Market positioning of vendors
10.3 Alcon Inc.
10.4 Bausch Health Co. Inc.
10.5 Carl Zeiss AG
10.6 Essilor International SAS
10.7 Haag Streit Group
10.8 Johnson and Johnson
10.9 NIDEK Co. Ltd
10.10 Ophtec BV
10.11 Topcon Corp.
10.12 Ziemer Ophthalmic Systems AG
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
11.3 Currency conversion rates for US$
11.4 Research methodology
11.5 List of abbreviations
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