Global Myopia And Presbyopia Treatment Market, by Disease Type (Myopia and Presbyopia), by Treatment Type (Prescription Lenses, Contact Lenses, Surgery, Medication, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 24.4 Billion in 2023 and is expected to exhibit a CAGR of 8.3% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The strategies adopted by key market players like research and innovation are expected to drive the global myopia and presbyopia treatment market growth over the forecast period. For instance, on November 2, 2021, Johnson & Johnson Vision, a global company in eye health has announced that new myopia data outcomes were presented at the 2021 American Academy of Optometry (AAO) annual meeting in Massachusetts, U.S. Johnson & Johnson Vision is harnessing the scientific understanding of myopia, and working to accelerate the delivery of products, services, and solutions with the potential to transform the standards of care in myopia.
Global Myopia And Presbyopia Treatment Market - Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems regarding the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global myopia and presbyopia treatment market due to the COVID-19 infection. For instance, on November 11, 2021, National Center for Biotechnology Information published an article explaining presbyopia developed earlier during the COVID-19 pandemic. Presbyopia and dry eye are serious health problems for the elder population. Presbyopia progresses as a consequence of aging and is associated with sleep. Dry eye is a common disease in middle adulthood and worsens with stress The study has revealed that the COVID-19 pandemic may have modulated near add power in 40- to 55-year-olds. A multiple regression analysis of near add power and potential variables further confirmed an association between presbyopia and the COVID-19 pandemic. An increase of reported dryness, irritation, and pain may also implicate a presence of stressful ocular manifestations. The prevalence of short but and positive corneal staining did not change. These results suggest dry eye-related ocular symptoms may be due to psychological issues related to the pandemic rather than physical deterioration.
Global Myopia and Presbyopia Treatment Market: Key Developments
Increasing partnerships by key players for the treatment of myopia and presbyopia are expected to drive the market growth.
For instance, on May 4, 2023, Johnson & Johnson Vision, a global eye health company has announced the sight social media campaign, which partners with Gen Z to take social media breaks to not only give their eyes a rest, but also to recognize the impact screen time is having on their lives. Through inspiring young creators, the campaign encourages Gen Z to close their apps and use their newfound time to clarify their vision for their lives, whether that's becoming a beauty influencer, focusing on athletics or embracing their unique talents. The ACUVUE Brand transformed vision correction more than thirty-five years ago with the introduction of the first soft disposable contact lenses. Since then, the ACUVUE Brand has been dedicated to finding innovative new ways to help people around the world see better.
Browse 44 Market Data Tables and 45 Figures spread through 220 Pages and in-depth TOC on Global Myopia And Presbyopia Treatment Market, by Disease Type (Myopia and Presbyopia), by Treatment Type (Prescription Lenses, Contact Lenses, Surgery, Medication, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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https://www.coherentmarketinsights.com/market-insight/myopia-and-presbyopia-treatment-market-4206
Key Takeaways of the Global Myopia And Presbyopia Treatment Market:
- The global myopia and presbyopia treatment market is expected to exhibit a CAGR of 8.3% during the forecast period. Increasing treatment for myopia and presbyopia can drive the market growth. For instance, on November 21, 2021, Mayo Clinics, A hospital in the United States described the usage of bifocal contact lenses, which enable distance and close-up correction on each contact. The bottom, reading portion of the lens is weighted to keep the lens correctly positioned on the eye. Newer types of bifocal contact lenses offer correction through the edges (periphery) of each lens and the other type of correction through the center of the lenses. Patient use both eyes for distance and one eye for reading.
- Among segmentation, the treatment type segment is expected to dominate the global myopia and presbyopia treatment market over the forecast period, owing to the increasing treatments for myopia. For instance, on November 21, 2021 Mayo Clinics, a hospital based in the U.S., explained the surgeries for myopia as conductive keratoplasty, this procedure uses radiofrequency energy to apply heat to tiny spots around the cornea. The heat causes the edge of the cornea to shrink slightly, increasing its curve (steepness) and focusing ability. The results of conductive keratoplasty are variable and may not be long lasting. Laser-Assisted In Situ Keratomileusis (LASIK) With this procedure, eye surgeon cuts a thin, hinged flap away from the front of eye. Recovery from LASIK surgery is usually more rapid and less painful than other corneal surgeries.
- The major players operating in the global myopia and presbyopia treatment market include ALCON Inc., Bausch Health Companies Inc., EssilorLuxottica (Essilor Ltd.), Johnson & Johnson Vision, NIDEK CO. LTD., Topcon Corporation, Zeimer Ophthalmic Systems AG, and ZEISS International
